Antidiabetics Market Trends

Growth Drivers:

• Rising diabetes awareness programs: The rising cases of diabetes and increasing awareness programs carried out by respective government organizations and antidiabetics market players are pushing the sales of antidiabetics. For instance, the National Diabetes Prevention Program or National DPP is an initiative by the Center for Disease Control and Prevention (CDC) to address the rising diabetes burden and spread awareness among the U.S. population. Apart from this, many governments across the world are offering supportive reimbursement policies for the treatment of chronic medical conditions including diabetes, which again is acting as a growth factor for the sales of antidiabetic drugs.
• Generic antidiabetics gaining traction: Ongoing advancements are offering patient-centric care for diabetes patients while on the other hand, continuous innovations are surging the price of antidiabetic solutions. Patients with low earning power can't afford such advanced treatment options, considering this aspect several antidiabetics market players are focusing on developing generic versions of premium diabetic drugs. This move is anticipated to offer novel and cost-effective medications for diabetes patients and boost the profits of producers.
  
  For instance, in January 2024, Lupin Limited a leading producer of pharmaceuticals obtained a tentative U.S. FDA approval for the use of Dapagliflozin and Saxagliptin tablets. Dapagliflozin and Saxagliptin tablets are generic Qtern tablets manufactured by AstraZeneca AB, effective in controlling type 2 diabetes.

Challenges:

• High treatment cost: Diabetes is a chronic disorder and requires multiple visits to a doctor and medication courses to control the disease. The high treatment cost hinders antidiabetics market adoption in low-income groups. As a result, the majority of patients are deterred from getting proper treatment, hampering sales of antidiabetics to some extent. For instance, as per the analysis by the American Diabetes Association on the economic costs of diabetes in the U.S. was USD 412.9 billion in 2022, out of which USD 306.6 billion were associated with direct medical costs and USD 106.3 billion to indirect costs.
• Side effects associated with consumption of diabetic drugs: Antidiabetic biguanides such as metformin are widely used to control diabetes in the majority of countries. According to the Science Direct report, some of the side effects associated with antidiabetic biguanides are headaches, vomiting, rash, indigestion, nausea, diarrhea, and body pain. Such aspects are expected to hinder the sales of diabetic drugs to some extent in the coming years.