Market Size of Europe Meglitinide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.30 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Meglitinide Market Analysis
The Europe Meglitinide Market size is estimated at USD 1.08 billion in current year, and is expected to reach USD 1.21 billion by forecast year, growing at a CAGR of 2.30% during the forecast period.
The COVID-19 epidemic has significantly affected the market for insulin drugs and devices. Patients with type-1 diabetes are more affected by COVID-19. Since people with diabetes already have weakened immune systems, COVID-19 causes those immune systems to deteriorate rapidly. Those with diabetes are more likely to experience significant complications than healthy persons. During COVID-19, the manufacturers of insulin drugs worked with local governments to provide insulin drugs to diabetes patients.
Meglitinides are a type of non-sulfonylurea insulin secretagogues with a fast onset and short duration of action. They stimulate glucose-sensitive first-phase insulin release, lowering the risk of hypoglycemia. Meglitinides cause the body to release more insulin in people with type 2 diabetes, who have chronically high blood sugar levels.
The World Health Assembly agreed on a Resolution to strengthen diabetes prevention and control in May 2021. It recommends actions such as increasing access to diabetes medicines and health products and assessing the feasibility and potential value of establishing a web-based tool to share information relevant to market transparency for diabetes medicines and health products. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure in Europe are indications of the increasing usage of diabetic drug products. Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
This is driving the demand for Meglitinides in Europe, thereby driving the market in focus during the forecast period.
Europe Meglitinide Industry Segmentation
Despite not sharing a structural relationship with sulfonylureas, meglitinides are secretagogues. With a different mode of action than sulfonylureas, they cause the pancreas to secrete insulin. Repaglinide, Nateglinide, and Mitiglinide are the three readily available medicines. The Europe Meglitinide Market is segmented by Geography (Germany, Spain, Italy, France, Russia, United Kingdom, Rest of Europe). The report offers the value (in USD) and Volume (in Unit) for the above segments. We will provide a segment-wise breakdown (Value and Volume) for all the countries covered under the Table of Contents.
| Drug | |
| Meglitinides |
| Geography | |
| Germany | |
| Spain | |
| Italy | |
| France | |
| United Kingdom | |
| Russia | |
| Rest of Europe |
Europe Meglitinide Market Size Summary
The Europe Meglitinide Market is poised for growth, driven by the increasing prevalence of type 2 diabetes and the rising healthcare expenditure associated with it. Meglitinides, as non-sulfonylurea insulin secretagogues, play a crucial role in managing blood glucose levels by stimulating insulin release from pancreatic beta cells. This mechanism is particularly beneficial for individuals with type 2 diabetes, who experience chronically high blood sugar levels. The market's expansion is further supported by technological advancements and innovations in drug formulations, which continue to enhance the efficacy of meglitinides. The COVID-19 pandemic has underscored the importance of these medications, as individuals with diabetes are at a higher risk of complications, prompting manufacturers to collaborate with governments to ensure the availability of insulin drugs.
The market landscape is characterized by a high level of competition, with key players such as Novo Nordisk, Glenmark, and Novartis maintaining a significant presence. The fragmented nature of the market is further intensified by the presence of generic drug manufacturers, which contribute to the competitive dynamics. Regulatory support and initiatives, such as the World Health Assembly's resolution to strengthen diabetes prevention and control, are expected to bolster market growth by increasing access to diabetes medicines and promoting market transparency. In Germany, the rising incidence of diabetes, driven by an aging population and lifestyle factors, highlights the critical need for effective diabetes management solutions, including meglitinides. As the market continues to evolve, ongoing clinical trials and research efforts aim to further validate the safety and efficacy of these medications, ensuring their continued relevance in the European healthcare landscape.
Europe Meglitinide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Drivers
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1.3 Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. Market Segmentation
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2.1 Drug
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2.1.1 Meglitinides
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2.2 Geography
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2.2.1 Germany
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2.2.2 Spain
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2.2.3 Italy
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2.2.4 France
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2.2.5 United Kingdom
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2.2.6 Russia
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2.2.7 Rest of Europe
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Europe Meglitinide Market Size FAQs
What is the current Europe Meglitinide Market size?
The Europe Meglitinide Market is projected to register a CAGR of 2.30% during the forecast period (2024-2029)
Who are the key players in Europe Meglitinide Market?
Novo Nordisk, Glenmark, Kissei, Novartis and Biocon are the major companies operating in the Europe Meglitinide Market.
