Market Trends of Europe Sodium-dependent Glucose Cotransporter 2 Industry
Increasing diabetes prevalence
The diabetes population in the European region is expected to rise by more than 5% over the forecast period.
According to the IDF, the overall diabetes expenditure in Europe among the population aged 20-79 years was USD 156 billion, and it is expected to increase to USD 174 billion by 2040. These figures indicate that approximately 9% of the total healthcare expenditure is spent on diabetes in Europe. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of diabetic drugs.
SGLT-2 inhibitor drugs are available internationally and are recommended for use when escalation of treatment for type 2 diabetes is required, along with lifestyle management. Oral agents are typically the first medications used in treating type 2 diabetes due to their wide range of efficacy, safety, and mechanisms of action. SGLT-2 inhibitor drugs help diabetes patients control their condition and lower the risk of diabetes complications. People with diabetes may need to take anti-diabetic drugs for their whole lives to control their blood glucose levels and avoid hypoglycemia and hyperglycemia. Oral anti-diabetic agents present the advantages of easier management and lower cost, so they became an attractive alternative to insulin with better acceptance, which enhances adherence to the treatment.
The government and the companies are working towards better diabetes management. For instance, the National Service Framework (NSF) program is improving services by setting national standards to drive up service quality and tackle variations in care. The Association of British HealthTech Industries (ABHI) launched a diabetes section, enabling diabetes technology companies to work together in the first forum of its kind. Such advantages helped in the market growth.
Germany held the highest market share in the European Sodium-dependent Glucose Cotransporter 2 Market in the current year
Germany held the highest market share of about 28% in the European Sodium-dependent Glucose Cotransporter 2 Market in the current year.
Diabetes is a significant health problem and one of the extraordinary challenges for healthcare systems all over Germany. The prevalence of known type 1 & 2 diabetes in the German adult population is very high, along with many patients not yet diagnosed with the disease. Due to an aging population and unhealthy lifestyle, the prevalence of type 2 diabetes is expected to increase steadily over the next few years. High-quality care, including adequate monitoring, control of risk factors, and active self-management, are the key factors for preventing complications in German patients with type 2 diabetes.
According to the German Diabetes Centre (DDZ), about 8.5 million people in Germany are affected by diabetes. The number of people with type 2 diabetes in Germany will continue to increase over the next twenty years. German law requires public plans to cap out-of-pocket health care costs and to cover all medically necessary treatment, including insulin. Germany is one of the developed countries with advanced healthcare facilities.
Moreover, reimbursement and pricing policies are highly regulated, which drives the market. The roll-out of many new products, increasing international research collaborations in technology advancement, and increasing awareness about diabetes among people are some of the market opportunities for the players in the German market.
