Market Trends of North America Diabetes Drugs Industry
The Oral anti-diabetic drugs segment is expected to register the highest CAGR in the North America Diabetes Drugs Market
The Oral anti-diabetic drugs segment is expected to register the highest CAGR of 4.7% in the North America Diabetes Drugs Market.
Oral Anti-Diabetic Drugs are available internationally. These are recommended for use when treatment escalation for type 2 diabetes is required, along with lifestyle management. According to the Division of Metabolism and Endocrinology Products in the FDA, 'Patients want effective treatment options for diabetes that are as minimally intrusive on their lives as possible, and the FDA welcomes the advancement of new therapeutic options that can make it easier for patients to control their condition.' 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.
Anti-diabetic 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 and become an attractive alternative with better acceptance, which enhances adherence to the treatment.
In July 2022, Zydus Lifesciences announced that it had received final approval from the USFDA to market Empagliflozin and Metformin Hydrochloride tablets in multiple strengths. Empagliflozin and Metformin Hydrochloride tablets are used with proper diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. They are also used to lower the risk of cardiovascular death in patients with type 2 diabetes mellitus and established cardiovascular disease.
Most health insurance plans cover diabetes medications because they are considered medically necessary. Medicare generally covers diabetes medications. The American Diabetes Association includes a guide to Medicare and diabetes prescription drug benefits. For patients covered by insurance, typical out-of-pocket costs consist of a prescription drug copay ranging from USD 10 to USD 50, depending on the drug. If the patient takes multiple drugs, copays can total USD 200 monthly or more.
The market will likely continue to grow due to the rising rate of obesity, the increasing prevalence, and the factors above.
The United States held the highest market share in the North America Diabetes Drugs Market
The United States held the highest market share of around 86% in the North America Diabetes Drugs Market.
The Centers for Disease Control and Prevention National Diabetes Statistics Report 2022 estimated that more than 130 million adults are living with diabetes or prediabetes in the United States. Type 2 diabetes is more common, and diabetes is more consequential among communities of color, those who live in rural areas, and those with less education, lower incomes, and lower health literacy.
The disease's growing incidence, prevalence, and progressive nature encouraged the development of new drugs to provide additional treatment options for diabetic patients. Non-insulin treatments, used as first-line therapies for patients with type 2 diabetes, currently capture more than half the sales in the anti-diabetic market. Over the past decade, two important classes entered this market: dipeptidyl peptidase-4 inhibitors and sodium-glucose cotransporter-2 inhibitors.
In August 2022, Novo Nordisk announced headline results from a phase 2 clinical trial with CagriSema, a once-weekly subcutaneous combination of semaglutide and a novel amylin analogue, cagrilintide. The trial investigated the efficacy and safety of a fixed dose combination of CagriSema (2.4 mg semaglutide and 2.4 mg cagrilintide) compared to the individual components semaglutide 2.4 mg and cagrilintide 2.4 mg. These are all administered once weekly in 92 people with type 2 diabetes and who are overweight.
Owing to the factors above, the market is expected to grow during the forecast period.
