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

Hypoglycemic Drugs MarketSize and Trends

Global hypoglycemic drugs market is estimated to be valued at US$ 660 Mn in 2022 and is expected to exhibit a CAGR of 9.2% during the forecast period (2022-2030).

Figure 1. Global Hypoglycemic Drugs Market, in Terms of Value (US$ Million), By Region, 2022

Increasing prevalence of diabetes is expected to drive the global hypoglycemic drugs market growth during the forecast period.

Increasing prevalence of diabetes is expected to drive the global hypoglycemic drugs market growth over the forecast period. For instance, according to a report published by International Diabetes Federation 2021, it is estimated that 1 in 11 adults have diabetes – (61 million), 1 in 3 (36%) people living with diabetes are undiagnosed in Europe, 1 in 7 live births are affected by hyperglycaemia in pregnancy. The Europe Region has the highest number of children and adolescents with type 1 diabetes – 295,000.

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.

Figure 2. Global Hypoglycemic Drugs Market Share (%), By Drug Class, 2022

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.