SGLT2 Inhibitors Treatment Market Trends

Growth Drivers

• Excessive Sugar Diet Leads to Incidences of Diabetic Patients- Diabetes is increased by consuming an excessive amount of sugar. In addition, the diabetes diagnostic market is growing at a fast rate due to advances in devices for diagnosis of diabetes such as portable glucometers. Glucometer is a little, portable device that measures the level of blood glucose for people with diabetes. By 2022, sugar consumption in the world is expected to reach around 176 million tons, and it is anticipated that by 2024 about 180.05 million tons will be consumed in the world's trade.
• Growing Medical and R&D Activities- Pharmaceutical companies investing in the research and development of SGLT2 Inhibitors demonstrate their commitment to improving diabetic management and continued advancements in drug development. On average the Food and Drug Administration approved nearly 38 new drugs every year from 2010 to 2019.
• Digital Health and Telemedicine- Leveraging technology, especially in the form of digital health platforms and telemedicine, can overcome geographical and linguistic barriers. However, with the recent emergence of digital therapeutics, helping to bring healthcare services online, this situation is changing to promote the adoption of telemedicine as it is convenient and boosts market growth.

Challenges

• Economic limitations- Patients from the middle-low-income region might lack healthcare insurance or face financial constraints, limiting their ability to afford medical consultations or purchase expensive medications such as SGLT2 inhibitors. The middle low-income region often faces resource constraints, including inadequate healthcare infrastructure, which hinders the dissemination of knowledge about novel treatment like SGLT2.
• Competition from Existing Diabetes Treatment Drug
• Surging Risk of Amputations