Market Trends of North America Oral Anti-Diabetic Drug Industry
The Biguanide Segment Occupied a Significant Market Share in 2023
The biguanide segment was expected to witness significant growth in 2023 owing to increased regulatory approvals and financial ease for increasing the accessibility of affordable drugs.
Metformin, a biguanide, is primarily used to manage type 2 diabetes. It is also prescribed off-label for conditions like insulin resistance. Since its introduction, metformin has successfully treated a significant number of patients. Endorsed as a first-line prescription by IDF, it boasts a commendable risk/benefit profile.
Given its track record, metformin is the most prescribed oral anti-diabetic globally, accounting for 45-50% of all prescriptions and benefiting over 150 million individuals annually. Its dominance is attributed to a combination of factors, including a well-established safety profile, robust clinical efficacy, high patient adherence, affordability, and widespread availability.
Regulatory endorsements play a pivotal role in bolstering market growth. For instance, in June 2023, the US FDA greenlit Jardiance (empagliflozin) and Synjardy (empagliflozin with metformin) for children aged 10 and above with type 2 diabetes, marking a significant stride in pediatric diabetes treatment.
Similarly, in February 2024, Canada's Health Minister announced the government's progress toward a universal pharmacare program. This initiative, once agreed upon with the provinces, will ensure that Canadians, especially diabetic people, have access to primary diabetes treatments, notably metformin, at an annual cost of around CAD 100 (USD 73). Other common medications for type 2 diabetes, like sulfonylureas and SGLT-2 inhibitors, can range from CAD 100 (USD 73) to over CAD 1,000 (USD 733.5) annually. By enhancing affordability, the initiative aims to not only improve the health of people with diabetes but also stimulate market growth.
The biguanide segment, led by metformin, dominates the North American oral anti-diabetic drugs market. The combination of clinical efficacy, affordability, and strong regulatory support ensures its sustained prominence and growth in the market.
The United States is Expected to Hold a Significant Market Share
The United States commands a significant share of the North American oral anti-diabetic drug market, bolstered by the robust presence of key market players and strong regulatory backing.
Pharmaceutical firms are increasingly focusing on developing drugs that treat diabetes and address associated issues like chronic weight management. For instance, in June 2023, Lilly announced its exploration of orforglipron, the company's inaugural nonpeptide oral GLP-1 receptor agonist. This drug was being studied for type 2 diabetes in the ACHIEVE phase 3 clinical program and chronic weight management in the ATTAIN phase 3 clinical program. A phase 2 trial was also used to compare orforglipron's efficacy in treating type 2 diabetes to placebo and dulaglutide.
Similarly, in November 2023, a US regulatory body approved a novel use for the widely prescribed diabetes medication Mounjaro, endorsing it as a weight-reducing drug.
The United States is poised to maintain its market share, driven by continuous innovation and regulatory support. The ongoing development of drugs that address both diabetes and related conditions like chronic weight management underscores the dynamic nature of this market.
