Diabetes Drugs Market Status 2018-2022

The global diabetes market has been growing steadily in recent years, with the global diabetes drug market reaching USD 83 billion in 2018 and is expected to exceed USD 124 billion by 2022.

Global Diabetes Market Size and Growth 2015-2022

The U.S. dominates the global diabetes drug market due to the large number of people suffering from diabetes. According to the World Health Organization, 9.6% of the total U.S. population was suffering from diabetes in 2016. In addition to this, increasing number of obesity, changing lifestyle, and increasing healthcare expenditure are contributing to the growth of the U.S. diabetes medication market. Elevated cholesterol levels and smoking increase the likelihood of developing diabetes. According to the CDC (2014), 73.5 million adults in the U.S. have been diagnosed with high cholesterol levels. In addition, increasing awareness about different monitoring procedures, increased awareness, and development of advanced technologies are also contributing to the growth of the diabetes medications market.

Europe is the second largest market for diabetes medications, followed by Asia Pacific. The large smoking population, availability of research funding, and government support for research and development will drive the diabetes drugs market in Europe.

Asia Pacific is the fastest growing region in the diabetes drugs market, attributed to the large patient population, continuous economic development, and increasing demand for better treatments.

On the other hand, the Middle East and Africa has the least share in the global diabetes drugs market due to the economic downturn, especially in Africa. The Middle East holds a major share of the diabetes drugs market in the Middle East and Africa due to a well-developed healthcare sector and huge healthcare expenditure.