Antidiabetics Market Regional Analysis:
North America Market Insights
North America industry is estimated to dominate majority revenue share of 42.5% by 2035. The presence of cutting-edge diabetic research and treatment organizations such as the American Diabetes Association, the implementation of favorable reimbursement policies by respective governments, and the production of novel anti-diabetic drugs by key market players are some of the factors driving the market growth in North America.
The U.S. antidiabetics market is expected to expand at a lucrative CAGR till 2035. The increasing prevalence of diabetes and the strong presence of antidiabetic drug manufacturers are pushing the U.S. market growth. For instance, in January 2023, Eli Lilly and Company announced the expansion of their incretin products (that treat diabetes) manufacturing facility in North Carolina.
Canada is also an opportunistic antidiabetic market producer owing to the high demand for next-gen treatment options. According to Diabetes Canada, around 30% of the population in the country is living with diabetes. Swiftly increasing cases of diabetes and advancements in healthcare facilities are positively influencing the sales of diabetic drugs in the country.
APAC Market Insights
Asia Pacific is estimated to be a fast-growing antidiabetics market owing to the dramatically increasing cases of diabetics in India, China, and Japan. According to a report published by the Indian Council of Medical Research in 2023, around 100 million people in India are having diabetes.
India is experiencing a hike in diabetes cases and to overcome this issue government is conducting several awareness programs. Through a press release, in December 2022, the Department of Health & Family Welfare, Government of India announced that they are offering financial and technical support to diabetic patients through initiatives such as ‘Pradhan Mantri Bhartiya Janaushadhi Pariyojana’ (PMBJP) and Free Drugs Service Initiative of NHM. These schemes offer subsidized essential generic medicines for diabetes patients in India. antidiabetics market players in India are offering cost-effective and generic forms of diabetes medication, as the majority of families in the country belong to the middle-class population group. For instance, in January 2024, Lupin Limited announced the production of generic Dapagliflozin and Saxagliptin tablets for the treatment of type 2 diabetes in its Pithampur facility in India. Similarly, in August 2022, Cadila Pharmaceuticals announced the launch of generic versions of sitagliptin under the brand names Jankey & Sitenali in India to control type 2 diabetes.
