Hypoglycemic Drugs Market, by Drug Class (Sulphonylureas, Biguanides, Alpha-glucosidase inhibitors, Thiazolidinediones, Dipeptidyl peptidase-4 (DPP-4) inhibitors, and Glucagon), by Route of Administration (Oral, Injectable and Nasal), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Sep 2022

Code : CMI5252

Pages :175

Formats :

Excel and PDF

Industry : Pharmaceutical

Market Challenges And Opportunities

Drug recalls

Global Hypoglycemic Drugs Market: Restraints

Drug recalls from market players are expected to hinder growth of the global hypoglycemic drugs market. For instance, in June 2021, US FDA had alerted patients and health care professionals about Nostrum Laboratories’ voluntary recall of one additional lot of extended release (ER) metformin. The company had recalled the lot because the metformin may have contained N-nitrosodimethylamine (NDMA) above the acceptable intake limit.

Similarly, in May 2020, Marksans Pharma and Sun Pharmaceutical Industries Limited., announced voluntary recall of extended release (ER) metformin. The companies had recalled metformin because it may have contained N-nitrosodimethylamine (NDMA) above the acceptable intake limit.

Increasing product approvals from regulatory bodies is expected to drive the global hypoglycemic drugs market growth over the forecast period.

Market players are focused on gaining approvals from regulatory bodies, which is expected to boost growth of the global hypoglycemic drugs market. For instance, in July 2019, Eli Lilly and Company, a pharmaceutical company, announced that it had received approval from the U.S. Food and Drug Administration, for Baqsimi nasal powder, the first glucagon therapy approved for the emergency treatment of severe hypoglycemia that can be administered without an injection.

Global Hypoglycemic Drugs Market – Impact of Coronavirus (COVID-19) Pandemic

COVID-19 has resulted in several challenges in healthcare sector. Due to lockdown it created disruptions for the patients to visit Diabetic centers. According to an article published by Diabetes Canada, University Avenue, Canada in 2021, a study was conducted by researchers of University Avenue for the situation of diabetic patients during COVID-19. It was concluded that the rates of hypoglycemia appeared to be mixed, depending on type of diabetes. Data from Spain and Italy, examining glycemic management during the early days of lockdown, showed either no change in the frequency incidence of hypoglycemia in adults with type 1 diabetes or a decrease in the hypoglycemic events. In an Italian study of children with type 1 diabetes, there was a slight decrease in the number of cases of severe hypoglycemia reported in 2020 versus the same time period in 2019. Moreover, another Spanish study also reported no significant increase in hypoglycemia for people with type 1 diabetes.