Pharmaceuticals
Europe Diabetes Drugs Market Analysis
The Europe diabetes drugs market size was valued at $11.73Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 4.84 % from 2022 to 2030 and will reach $17.13 Bn in 2030. The market is segmented by drug type, application, distribution channel, and geography. The Europe diabetes drugs market will grow because diabetes is a major health problem in Europe, with an estimated 60 million people living with the disease. The key market players are Eli Lilly, Sanofi, Novo Nordisk, AstraZeneca, and others.
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Europe Diabetes Drugs Market Executive Summary
The Europe diabetes drugs market size was valued at $11.73Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 4.84 % from 2022 to 2030 and will reach $17.13 Bn in 2030. The diabetes population in the European region is expected to rise by more than 15% during the forecast period. The IDF estimates that the total cost of diabetes among people in Europe aged 20 to 79 was $156 Bn in 2017 and will rise to $74 Bn by 2040. According to these data, diabetes accounts for about 9% of all healthcare spending in Europe.
In recent years, diabetes prevalence had increased alarmingly throughout the European continent. People with diabetes need to make several adjustments during the day to keep their blood glucose levels within acceptable ranges. Examples include taking oral anti-diabetic medicine or consuming more carbs while keeping an eye on their blood glucose levels. Obesity, a poor diet, and lack of exercise are the main causes of the rise in newly diagnosed Type 1 and Type 2 diabetes cases. Diabetes medicine usage is on the rise, as evidenced by the fast-rising incidence, prevalence, and healthcare costs of diabetes individuals.
Oral anti-diabetic medications have been made available globally and are advised for usage when type 2 diabetes therapy needs to be escalated along with lifestyle modification. Due to the wide range of efficacy, safety, and modes of action that oral medicines have, they are frequently the first treatments employed in the treatment of type 2 diabetes. Diabetes patients can minimize their risk of complications and maintain control of their illness with the use of anti-diabetic medications. Throughout the rest of their lives, people with diabetes may need to take anti-diabetic medications to manage their blood sugar levels and prevent hypo and hyperglycemia. Oral anti-diabetic medications have higher acceptance than insulin, improving therapy adherence. They also have the advantages of easier control and lower cost.
Better diabetes control is a goal shared by the government and businesses. For instance, the National Service Framework (NSF) program raises service quality and addresses care disparities by establishing national standards. The Association of British HealthTech Industries (ABHI) introduced a diabetes section in 2019, creating the first platform of its type for diabetic technology businesses to collaborate. These benefits have contributed to an increase in the use of these items in the UK market. It is estimated that the market will rise in the future due to the rising prevalence of obesity, expanding genetic risk factors for type-2 diabetes, and the aforementioned causes.
Market Dynamics
Market Growth Drivers Analysis
- Rising prevalence of diabetes: Diabetes is a major health problem in Europe, with an estimated 60 million people living with the disease. The growing prevalence of diabetes is driving demand for diabetes drugs, particularly as the population ages and the incidence of the disease increases.
- Advancements in drug development: Advances in drug development and biotechnology are providing new and innovative treatment options for people with diabetes. This includes the development of new classes of drugs, such as GLP-1 receptor agonists and SGLT2 inhibitors, that are more effective and have fewer side effects than previous treatments.
- Increasing awareness and screening: There is a growing awareness of diabetes and its complications in Europe, which is leading to increased screening and diagnosis of the disease. This is creating a larger pool of patients in need of treatment and management.
- Favorable reimbursement policies: Many European countries have favorable reimbursement policies for diabetes drugs, which is helping to drive demand and uptake of these treatments.
- Strong pipeline of drugs: There is a strong pipeline of new diabetes drugs in development, which is expected to drive growth in the market in the coming years.
Market Restraints
- Many European governments are implementing cost containment measures to control healthcare spending, which can limit access to some diabetes drugs. Additionally, several key diabetes drugs have recently gone off-patent, leading to increased competition from generic versions of these drugs.
- There have been safety concerns with some diabetes drugs, such as an increased risk of cardiovascular events with certain types of drugs, which can limit their use. Furthermore, the regulatory approval process for new diabetes drugs can be lengthy and expensive, which can slow down the introduction of new treatments into the market
Competitive Landscape
Key Players
- Eli Lilly
- Sanofi
- Novo Nordisk
- AstraZeneca
- Johnson & Johnson
- Bayer Pharmaceuticals
- Merck
- Bristol-Myers Squibb
- Boehringer Ingelheim
- Novartis
- GlaxoSmithKline
Recent developments
May 2021: The Committee for Medicinal Products for Human Use (CHMP) suggested altering the conditions of Novartis Europharm Limited's marketing licence for the drug Jalra. The most recent description of product attributes will include comprehensive usage instructions (SmPC).
Healthcare Policies and Regulatory Landscape
European Medicines Agency (EMA): The EMA is the regulatory agency responsible for the evaluation and approval of new drugs in the European Union. Diabetes drugs must go through a rigorous evaluation process before they can be approved for use in the EU.
Clinical trials: Clinical trials of diabetes drugs must adhere to the guidelines set out by the International Conference on Harmonisation (ICH) and the EMA. Trials must demonstrate the safety and efficacy of the drug in order to gain approval. Once a diabetes drug is on the market, it is subject to ongoing monitoring and surveillance to ensure its safety and effectiveness.
Reimbursement:
National reimbursement systems: Each country in Europe has its own national reimbursement system for drugs, which can vary in terms of the drugs that are covered and the level of reimbursement.
Cost-effectiveness evaluations: Many countries use cost-effectiveness evaluations to determine which drugs are eligible for reimbursement. These evaluations take into account factors such as the cost of the drug, the effectiveness of the drug, and the impact on the healthcare system.
Reference pricing: Some countries use reference pricing to set the price of drugs. This involves setting a maximum price for a group of similar drugs, which can limit the pricing power of individual drug companies.
Patient co-payments: In many countries, patients are required to make co-payments for drugs, which can impact their access to treatment.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
Diabetes Drugs Market Segmentation
By Drug Type (Revenue, USD Bn):
The drug types considered, in this report include Injectable Drugs and Oral Drugs. Injectable drugs are further classified into insulin-based and non-insulin-based injectables. Oral drugs are further classified into various classes as per their mechanism of action as mentioned below :
- Injectable Drugs
- Insulin Based Injectables
- Non-insulin Based Injectables
- Exenatide (Byetta)
- Dulaglutide (Trulicity)
- Semaglutide (Ozempic, Wegovy)
- Liraglutide (`Saxenda, Victoza)
- Lixisenatide (Adlyxin)
- Pramlintide (Symlin)
- Tirzepatide (Mounjaro)
- Albiglutide (Tanzeum)
- Oral Drugs
- Biguanides - Metformin (Glucophage and Glucophase XR)
- Sulfonylureas - Glimepiride (Amaryl), Glyburide (DiaBeta), Glipizide (Glucotrol), Gliclazide (Diamicron), Chlorpropamide (Diabinese)
- Meglitinides and D-Phenylalanine Derivatives - Repaglinide (Prandin), Nateglinide (Starlix)
- Thiazolidinediones (TZDs) - Rosiglitazone (Avandia), Pioglitazone (Actos)
- Dipeptidyl peptidase-IV (DPP-4) inhibitors - Sitagliptin (Januvia), Saxagliptin (Onglyza), Linagliptin (Tradjenta), and Alogliptin (Nesina and Vipidia), Teneligliptin (Tenelia), Vildagliptin (Galvus)
- Alpha-glucosidase Inhibitors - Acarbose (Precose), Miglitol (Glyset), Voglibose (Voglib)
- Sodium-glucose co-transporter-2 (SGLT2) inhibitors - Canagliflozin (Invokana), Dapagliflozin (Farxiga), Empagliflozin (Jardiance), Ertugliflozin (Stelgatro)
- Dopamine D2 agonist – Bromocriptine (Parlodel and Cycloset)
- Glucagon like peptide 1 (GLP-1) receptor agonists - Semaglutide (Rybelsus)
- Bile Acid Sequestrants (BASs) - Colesevelam (Welchol)
- Others (Fixed Dose Combination Drugs)
By Application (Revenue, USD Bn):
Based on application, the market is segmented into Type 1 and Type 2. The 2 types of diabetes drugs are segmented and dominate the market. The Type 2 diabetes segment accounts for the largest sales of the worldwide market a few different kinds. The excessive prevalence of type 2 because of sedentary lifestyles and obesity in all age groups is attributed to the current situation. Around 10% of all diabetes cases are type 1, and approximately 90% of all cases of diabetes in UK are type 2. Hence, it is estimated to the diabetes drugs market will grow across the globe during the forecast period.
- Type 1 diabetes (due to β-cell destruction, usually leading to absolute insulin deficiency)
- Type 2 diabetes (due to a progressive insulin secretory defect on the background of insulin resistance)
- Other diabetes types
By Distribution Channel (Revenue, USD Bn):
Based on distribution channels, the market is classified into hospital pharmacies, rental pharmacies, and online pharmacies. The hospital pharmacies captured the highest market share, owing to the availability of trained & qualified personnel and favorable reimbursement structure. Online pharmacies are estimated to register the highest CAGR in the forecast period, it is attributed to the technological adaptation and acceptance of online pharmacies. Retail pharmacies showed a moderate market share improvement in the healthcare facilities in developing countries is anticipated to propel the popularity of retail pharmacies during the forecast period.
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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- Market Share
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- Reimbursement Scenario
- Factors Driving Future Growth
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