Latin America Oral Anti-Diabetic Drug Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 3.25 Billion |
| Market Size (2029) | USD 3.86 Billion |
| CAGR (2024 - 2029) | 3.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Oral Anti-Diabetic Drug Market Analysis
The Latin America Oral Anti-Diabetic Drug Market size is estimated at USD 3.25 billion in 2024, and is expected to reach USD 3.86 billion by 2029, growing at a CAGR of 3.5% during the forecast period (2024-2029).
The ability to react to and adapt to populations, governments, and health systems around the world was put to the test by the COVID-19 pandemic. Brazil reported the first suspected and confirmed cases in Latin America on January 27 and February 26, respectively. The majority of Latin American nations failed to take prompt action to protect people with diabetes, which may have had a negative impact on people, health systems, and the economy. The ability to react to and adapt to populations, governments, and health systems around the world has been put to the test by the COVID-19 pandemic.
Brazil presented the first suspected and first confirmed case in Latin America. The majority of Latin American nations failed to take prompt action to protect people with diabetes, which had a negative impact on people, health systems, and the economy.
Latin American nations have a high prevalence of diabetes, and Mexico is well known for having a sizable diabetic population as a result of the region's rising Type-2 diabetes prevalence. Over the past 40 years, the prevalence of Type-2 diabetes has increased, in large part due to the steadily rising obesity incidence and genetic vulnerability to the disease. Around 10% of the population currently has diabetes. About 90% of all diabetics worldwide will have Type-2 diabetes, which is the most common type in the Latin American region.
Depending on medications, the oral-drugs sector commands a substantial market share. Oral drugs are required by more than 100 million individuals in Latin America, including all of those with Type-1 diabetes and 10% to 25% of those with Type-2 diabetes. Due to the complexity of insulin production, there aren't many businesses on the market that produce it. Because of this, there is intense competition among these makers, who always work to satisfy the needs of the patient by supplying the highest-quality Oral-Anti Diabetes Drugs.
Latin America Oral Anti-Diabetic Drug Market Trends
Biguanide Segment Occupied the Highest Market Share in the Latin America Oral Anti-Diabetic Drugs Market in 2022
Families in Latin America cover 40%-60% of the direct expenditures associated with diabetes. The majority of private health insurance plans do not cover medication, although they do cover hospitalization, operations, and medical assistance. In terms of epidemiology, Latin America is changing dramatically. The main health issues today are chronic, non-transmissible disorders like diabetes. The financial resources allocated to diabetes care in this region are modest despite the high and rising number of diabetes cases.
The World Diabetes Federation estimates that diabetes patients spent USD 966 billion, of which Type-1 diabetes patients spent a sizable portion on insulin medications. Patients with Type-2 diabetes who additionally need insulin are rare. Although Type-1 diabetes only affects 10% of people with the disease, their insulin requirements are higher.
Growth in the knowledge of the advantages of diabetes medications for diabetic patients, particularly in emerging nations, is driving demand for oral medications. The market for oral anti-diabetes medications may expand due to several causes, including innovative drug development by large corporations and the rise in the elderly and obese population.
Owing to the aforementioned factors, the market is expected to grow during the forecast period.
In the Latin America Oral Anti-Diabetes Medications Market, Mexico holds more than 12% of the market share.
The MOH oversees the Brazilian health system, which is run by each state's and municipality's health secretariat. Partnerships with private organizations have also been established in many areas where the public sector is unable to meet people's needs in order to expand access to PHC. Via a number of initiatives, including 20% greater access to vital medications, the Brazilian health system in Brazil covers the cost of medications.
Brazil has a comprehensive free vaccination program. For the past 20 years, Brazil has been the target of various lawsuits calling for the coverage of expensive medications used to treat conditions like diabetes and other rare or uncommon ailments.
According to Universal Health Coverage 2022, households in Argentina, Brazil, Colombia, and Mexico spent less than 25% of their income on healthcare, achieving an aggregate index of essential coverage of 76-77%. Increased service coverage was achieved through improved access to primary healthcare systems and coverage for non-communicable diseases, while community outreach was made possible by a rise in the number of certified healthcare workers.
To lower the country's death rate, Brazil's government encourages diabetics to utilize the drug. The Brazilian Ministry of Health runs initiatives like "Health Has No Price (SNTP)" in collaboration with independent drug stores there to help people with diabetes.
It is therefore anticipated to drive the category expansion during the forecast period as a result of the aforementioned factors.
Latin America Oral Anti-Diabetic Drug Industry Overview
The Latin America oral anti-diabetes drug market is consolidated, with a few major manufacturers like Eli Lilly, AstraZeneca, Sanofi, and Janssen Pharmaceuticals having a global market presence. In contrast, the remaining manufacturers are confined to the other local or regional markets. Companies are focusing on innovations in diabetes drugs.
Latin America Oral Anti-Diabetic Drug Market Leaders
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Sanofi
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Astellas
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Astrazeneca
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Eli Lilly
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Janssen Pharmaceuticals
*Disclaimer: Major Players sorted in no particular order
Latin America Oral Anti-Diabetic Drug Market News
- Septmber 2023: FDA approves another SGLT2 Inhibitor for Treating cardivosular. Empagliflozin adds indication in adults, regardless of diabetes status.
- March 2022: Oramed announced ORMD-0801 (a new molecule) is being evaluated in two pivotal Phase 3 trials and can be the first oral insulin capsule that has the most convenient and safest way to deliver insulin therapy. This drug is expected to be a game-changer in the insulin and oral anti-diabetes drugs markets. Oramed is also developing an oral GLP-1 (Glucagon-like peptide-1) analog capsule (ORMD-0901).
Latin America Oral Anti-Diabetic Drug Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Oral Anti-diabetic drugs
5.1.1 Biguanides
5.1.2 Alpha-Glucosidase Inhibitors
5.1.3 Dopamine D2 Receptor Agonist
5.1.4 SGLT-2 inhibitors
5.1.4.1 Invokana (Canagliflozin)
5.1.4.2 Jardiance (Empagliflozin)
5.1.4.3 Farxiga/Forxiga (Dapagliflozin)
5.1.4.4 Suglat (Ipragliflozin)
5.1.5 DPP-4 inhibitors
5.1.5.1 Onglyza (Saxagliptin)
5.1.5.2 Tradjenta (Linagliptin)
5.1.5.3 Vipidia/Nesina(Alogliptin)
5.1.5.4 Galvus (Vildagliptin)
5.1.6 Sulfonylureas
5.1.7 Meglitinides
5.2 Geography
5.2.1 Brazil
5.2.2 Mexico
5.2.3 Rest of Latin America
6. MARKET INDICATORS
6.1 Type-1 Diabetic Population
6.2 Type-2 Diabetic Population
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Takeda
7.1.2 Novo Nordisk
7.1.3 Pfizer
7.1.4 Eli Lilly
7.1.5 Janssen Pharmaceuticals
7.1.6 Astellas
7.1.7 Boehringer Ingelheim
7.1.8 Merck And Co.
7.1.9 AstraZeneca
7.1.10 Bristol Myers Squibb
7.1.11 Novartis
7.1.12 Sanofi
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Latin America Oral Anti-Diabetic Drug Industry Segmentation
Antihyperglycemic medications are taken orally to lower blood glucose levels. They are frequently employed in the management of type 2 diabetes. The Latin America Oral Anti-Diabetic Drug Market is segmented into drugs, and Geography. The report offers the value (in USD) and volume (in Units) for the above segments.
| Oral Anti-diabetic drugs | ||||||
| Biguanides | ||||||
| Alpha-Glucosidase Inhibitors | ||||||
| Dopamine D2 Receptor Agonist | ||||||
| ||||||
| ||||||
| Sulfonylureas | ||||||
| Meglitinides |
| Geography | |
| Brazil | |
| Mexico | |
| Rest of Latin America |
Latin America Oral Anti-Diabetic Drug Market Research FAQs
How big is the Latin America Oral Anti-Diabetic Drug Market?
The Latin America Oral Anti-Diabetic Drug Market size is expected to reach USD 3.25 billion in 2024 and grow at a CAGR of 3.5% to reach USD 3.86 billion by 2029.
What is the current Latin America Oral Anti-Diabetic Drug Market size?
In 2024, the Latin America Oral Anti-Diabetic Drug Market size is expected to reach USD 3.25 billion.
Who are the key players in Latin America Oral Anti-Diabetic Drug Market?
Sanofi, Astellas, Astrazeneca, Eli Lilly and Janssen Pharmaceuticals are the major companies operating in the Latin America Oral Anti-Diabetic Drug Market.
What years does this Latin America Oral Anti-Diabetic Drug Market cover, and what was the market size in 2023?
In 2023, the Latin America Oral Anti-Diabetic Drug Market size was estimated at USD 3.14 billion. The report covers the Latin America Oral Anti-Diabetic Drug Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Oral Anti-Diabetic Drug Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Oral Anti-Diabetic Drug Industry Report
Statistics for the 2024 Latin America Oral Anti-Diabetic Drug market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Oral Anti-Diabetic Drug analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
