The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Non-Insulin Therapies For Diabetes Global Market Report 2023, the non-insulin therapies for diabetes market is expected to show promising growth in the forecast period.

The non-insulin therapies for diabetes market have demonstrated substantial growth in recent years and are set to continue this trend. This blog explores the factors driving this growth, key trends, and recent advancements that are shaping the future of diabetes management.

Current Market Landscape

Growth Overview

• Recent Market Size: The non-insulin therapies for diabetes market grew from $18.71 billion in 2023 to $19.98 billion in 2024, marking a 6.8% compound annual growth rate (CAGR).
• Future Projections: The market is anticipated to reach $26.14 billion by 2028, with a slightly higher CAGR of 6.9% during the forecast period.

Key Drivers of Growth

• Rising Diabetes Prevalence: Increasing rates of diabetes due to lifestyle changes and an aging population are fueling market expansion.
• Awareness and Diagnosis: Growing awareness of diabetes management and improved diagnostic capabilities contribute to market growth.
• Healthcare Investment: Increased healthcare expenditure and investment in pharmaceutical research and development are also significant factors.

Role of Non-Insulin Therapies in Managing Diabetes

Addressing the Diabetes Epidemic

• Growing Diabetes Rates: The prevalence of diabetes is escalating globally, driven by sedentary lifestyles, unhealthy diets, and other risk factors.
• Non-Insulin Therapies: These therapies help manage diabetes by enhancing insulin sensitivity, reducing liver glucose production, and improving overall glycemic control.
• Statistics: In 2021, around 537 million adults globally had diabetes, with projections rising to 783 million by 2045. This increasing prevalence underscores the growing need for effective non-insulin therapies.

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Innovations and Advancements in the Market

Personalized Diabetes Management Systems

• Technological Advances: Companies are developing personalized management systems that use real-time data and analytics to tailor diabetes care.
• Eli Lilly’s Tempo Platform: Launched in November 2022, this platform includes the Tempo Smart Button, TempoSmart app, and Tempo Pen. It provides customized guidance for diabetes management and helps in making data-driven treatment decisions.

Encapsulated Cell Therapies

• Eli Lilly’s Acquisition: In August 2023, Eli Lilly acquired Sigilon Therapeutics for $309.6 million to advance encapsulated cell therapies for type 1 diabetes.
• Impact of the Acquisition: This acquisition aims to enhance research and development in encapsulated cell therapies, potentially offering more effective long-term solutions for type 1 diabetes management.

Market Segmentation

Drug Classes

• Types: The market includes several drug classes such as Biguanides, Sulfonylureas, Thiazolidinediones, Alpha-Glucosidase Inhibitors, Dipeptidyl Peptidase-4 (DPP-4) Inhibitors, Glucagon-like Peptide-1 (GLP-1) Analogs, and Sodium-Glucose Co-Transporter-2 (SGLT2) Inhibitors.

Routes of Administration

• Forms: Non-insulin diabetes therapies are available in oral and intramuscular forms, catering to different patient preferences and needs.

Distribution Channels

• Channels: These therapies are distributed through retail pharmacies, hospital pharmacies, and online pharmacies, ensuring broad accessibility.

Applications

• Uses: The market covers various applications including monitoring, diagnosis, and treatment of diabetes.

Regional Insights

North America

• Market Leadership: North America was the largest market in 2023, driven by advanced healthcare systems and high diabetes prevalence.

Asia-Pacific

• Growth Potential: The Asia-Pacific region is expected to experience significant growth due to expanding healthcare infrastructure and increasing diabetes awareness.

Conclusion

The non-insulin therapies for diabetes market is experiencing robust growth, driven by rising diabetes prevalence, technological advancements, and increased healthcare investments. Innovations such as personalized management systems and encapsulated cell therapies are set to enhance treatment options and patient outcomes. As the market evolves, the focus on effective, personalized care will be crucial in addressing the global diabetes epidemic and improving quality of life for millions of individuals.

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