The global hyperglycemia treatment industry demand is set to witness robust growth, with Future Market Insights projecting a size of US$ 500.49 Million in 2023. Anticipated to expand at a Compound Annual Growth Rate (CAGR) of 12.3% between 2023 and 2033, the market is expected to soar to US$ 1,596 Million by 2033.
A key driver behind this growth is the escalating prevalence of hyperglycemia, particularly among the younger demographic, attributed to heightened stress levels and unhealthy eating habits. A recent study has shed light on a noteworthy trend among COVID-19 patients with diabetes, revealing that those newly diagnosed during hospitalization experienced a reduction in blood sugar levels post-discharge, with only 8% requiring insulin a year later. The study also highlights a higher percentage of younger individuals, minorities, and those uninsured or on Medicaid, underscoring the prevalence of undiagnosed preexisting diabetes.
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The emergence of reversal programs and diverse treatment options, especially in developing regions, is a testament to the industry’s commitment to addressing the evolving needs of patients. Notably, ongoing research is focused on diabetic kidney disease (DKD), affecting approximately 40% of diabetic patients in industrialized countries. Treatments aimed at controlling blood sugar and blocking the renin-angiotensin-aldosterone system (RAAS) are instrumental in delaying disease progression.
Factors contributing to the industry’s positive trajectory include the global population surge, increased disposable income in developing nations, and the growing phenomenon of medical tourism. The market’s appeal is further enhanced by the array of medication options available, offering market participants lucrative opportunities during the forecast period.
With insulin remaining a cornerstone in diabetes management, the market for insulin is witnessing sustained growth. Technological advancements in insulin delivery systems, coupled with extensive research, are shaping the landscape. Government support to ensure global insulin availability further propels market expansion.
In conclusion, the global hyperglycemia treatment market is on a trajectory of significant growth, driven by evolving patient demographics, advancements in treatment modalities, and supportive governmental initiatives. Market participants are poised to capitalize on this promising landscape, with ample opportunities for innovation and expansion.
Key Takeaways from the Market Study:
- The global market size for hyperglycemia treatment is estimated to reach US$ US$ 1,596 Million by 2033.
- According to the forecast, the insulin therapy segment is expected to grow by 6% CAGR between 2023 and 2033.
- The oral route of administration hyperglycemia treatment market accounted for 45% of the total market value by the end of 2023.
- Hyperglycemia treatment in North America expanded with a market share of 53% in 2022.
- The retail pharmacy market is expected to account for 72% of the total market value over the next five years.
“As diabetes becomes more prevalent, oral drugs and insulin devices are being approved, where artificial intelligence and technology will be key to expanding drug delivery methods.” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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Competitive Landscape:
Considering the fact that many companies are expected to be focusing their efforts on the development of innovative diagnostic techniques in the near future, markets may notice many companies expand their product lines, acquire other companies, and merge their companies together in the near future.
- Tetris Pharma, a biopharmaceutical company, launched ‘Ogluo’, or glucagon-prefilled autoinjector pens, as a treatment for severe hypoglycemia in children and adults with diabetes. In addition to the UK and Germany launches, Arecor and Tetris plan to market Ogluo in “core” European markets as part of their pan-European commercialization program.
- With its US$ 4 million seed funding from SecretLab LLC founder Jason Bright, BioCoach will scale its platform that provides meal recommendations and grocery lists to people with prediabetes. A smart glucose meter and ketone meter are available for BioCoach, which work in conjunction with the biocoach app. Using the BioCoach app, a team of expert coaches gives individualized recommendations on how to adjust one’s diet based on the information that has been collected from readings.
Key Companies Profiled:
- Novo Nordisk A/S
- Merck & Company Inc.
- Medtronic
- Johnson & Johnson Services Inc.
- Teva Pharmaceuticals Ltd.
- Eli Lilly and Company
- Sanofi S.A.
- Bayer AG
- Bristol-Myers Squibb
- Abbott
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Key Segments Profiled in the Hyperglycemia Treatment Industry Survey:
By Treatment Type:
- Fluid Replacement
- Electrolyte Replacement
- Insulin Therapy
- Other Treatments
By Mode of Administration:
- Oral
- Topical
By End User:
- Hospitals & Clinics
- Retail Pharmacy
- Others
By Region:
- North America
- Latin America
- Europe Market
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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