Market Trends of Oman Diabetes Drugs Industry
The oral anti-diabetic drugs segment holds the highest market share in the Oman Diabetes Drugs Market in the current year
The oral anti-diabetic drugs segment holds the highest market share of about 88.8% in the Oman Diabetes Drugs Market in the current year.
Oral Anti-Diabetic 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.
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. So they became an attractive alternative to insulin with better acceptance, which enhances adherence to the treatment.
In July 2022, Zydus Lifesciences announced that it had received final approval 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.
According to Oman Diabetes Association, diabetes is a costly chronic illness that needs control of blood sugar levels. It imposes a challenge for low-income and social security patients. Thus, an initiative is designed to reduce the burden on these targeted groups, consequently promoting sugar control. Moreover, the number of new cases among children is about 60 annually. According to local studies and reports on good diabetes control, the rate in adult patients ranges from 32-35%, whereas it reaches 10-12% among children and adolescents. The Government is working on increasing awareness of diabetes and access to medicines to improve good diabetes control.
Owing to the rising rate of obesity, growing genetic factors for type-2 diabetes, the increasing prevalence, and the factors above, the market will likely continue to grow.
Metformin is expected to dominate the Oman Diabetes Drugs Market over the forecast period
Metformin is expected to dominate the Oman Diabetes Drugs Market and register a CAGR of around 6.1% over the forecast period.
Biguanides are a class of medications used to treat type 2 diabetes. They work by reducing the production of glucose that occurs during digestion. Metformin is the only biguanide currently available in most countries for treating diabetes. Glucophage (metformin) and Glucophage XR (metformin extended release) are well-known brand names for these drugs. Others include Fortamet, Glumetza, and Riomet. Metformin is also available in combination with several other types of diabetes medications, such as sulfonylureas.
Diabetes reduces lifespan, and people with the disease are likely to experience blindness and be hospitalized for amputations, kidney failure, heart attacks, strokes, and heart failure. Metformin is the first-line choice for the management of hyperglycemia in T2DM. Besides being an important glucose-lowering agent, metformin also includes significant anti-inflammatory properties. Other options must be considered when metformin is contraindicated or not tolerated or when treatment goals are not achieved after three months of use at the maximum tolerated dose. Dipeptidyl peptidase-4 inhibitors, sodium-glucose cotransporter-2 inhibitors, and glucagon-like peptide-1 agonists are generally used to supplement treatment with metformin.
The Ministry of Health, Oman is strategically planning to contain the growing burden of diabetes and invest in all means to control it, stating, 'Our work needs to ensure equitable and affordable access to treatment, and it is essential that we advocate for investments in diabetes education and prevention programs.' Risk factors such as insufficient physical activity and the consumption of unhealthy diets are contributing to the development and progression of the disease.
Owing to the factors above, the market is expected to grow during the forecast period.
