According to Future Market Insights, the global hyperglycemia treatment is expected to grow at a CAGR of 12.3% between 2023 and 2033, reaching US$ 1,596 Million in 2033. With the growing number of young people prone to stress levels and poor eating habits, hyperglycemia treatments have become more popular. According to a new study, COVID-19 patients with diabetes who were newly diagnosed during hospitalization often reduced their blood sugar levels after discharge, and only 8% needed insulin a year later.
There was a higher percentage of younger, minorities, and uninsured or on Medicaid COVID-19 patients with newly diagnosed diabetes, suggesting these were cases of preexisting diabetes that had gone undiagnosed. As a result, reversal programs are being studied as well as different types of programs are being introduced on the market in developing regions.
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Approximately 40% of diabetic patients suffer from diabetic kidney disease (DKD) in industrialized countries. Treatments that control blood sugar and block RAAS (renin angiotensin aldosterone system) are at best delaying the progression of the disease. The growing population throughout the world, rising disposable income in developing countries, and medical tourism are all positive factors affecting this market.
Furthermore, the wide variety of medication options available as opposed to surgical procedures offer opportunities for market participants during the forecast period, which is likely to provide a positive growth opportunity. Because of the high prevalence and incidence of insulin throughout the world, the market for insulin continues to grow due to extensive research and technological advancements in insulin delivery systems, with the support of the government towards ensuring that insulin is available worldwide.
Key Takeaways from the Market Studyโฏ
- The global market size for hyperglycemia treatment is estimated to reach US$ 500.49 Million by 2023.
- According to the forecast, the insulin therapy segment is expected to grow by 6% CAGR between 2023 and 2033.
- The oral route of administration hyperglycemia treatment market accounted for 45% of the total market value by the end of 2023.
- Hyperglycemia treatment in North America expanded with a market share of 53% in 2022.
- The retail pharmacy market is expected to account for 72% of the total market value over the next five years.
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โAs diabetes becomes more prevalent, oral drugs and insulin devices are being approved, where artificial intelligence and technology will be key to expanding drug delivery methods.โ comments a Future Market Insights analyst.โฏ
Competitive Landscapeโฏ
Considering the fact that many companies are expected to be focusing their efforts on the development of innovative diagnostic techniques in the near future, markets may notice many companies expand their product lines, acquire other companies, and merge their companies together in the near future.
- Tetris Pharma, a biopharmaceutical company, launched ‘Ogluo’, or glucagon-prefilled autoinjector pens, as a treatment for severe hypoglycemia in children and adults with diabetes. In addition to the UK and Germany launches, Arecor and Tetris plan to market Ogluo in “core” European markets as part of their pan-European commercialization program.
โ With its $4 million seed funding from SecretLab LLC founder Jason Bright, BioCoach will scale its platform that provides meal recommendations and grocery lists to people with prediabetes. A smart glucose meter and ketone meter are available for BioCoach, which work in conjunction with the biocoach app. Using the BioCoach app, a team of expert coaches gives individualized recommendations on how to adjust one’s diet based on the information that has been collected from readings.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global hyperglycemia treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the hyperglycemia treatment market, the market is segmented on the basis of treatment (fluid replacement, electrolyte replacement, insulin therapy, others), by mode of administration (oral, topical), by end-user (hospitals & clinics, retail pharmacy, others), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segments Profiled in the Hyperglycemia Treatment Market Industry Survey
By Treatment Type:
- Fluid Replacement
- Electrolyte Replacement
- Insulin Therapy
- Other Treatments
By Mode of Administration:
- Oral
- Topical
By End User:
- Hospitals & Clinics
- Retail Pharmacy
- Others
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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