North America diabetes care drugs market is anticipated to grow significantly over the forecast period (2020-2026). The US and Canada are the two major economies contributing to the growth of the market. The key factor that drives the growth of the North American diabetes care drug industry includes the increased prevalence of diabetes across the region.
According to IDF (International Diabetes Federation), in 2019, the prevalence of diabetes was around 13.3% of the total adult population in the region which is expected to increase up to 14.2% by 2030 and 15% by 2045. Thus, the increased prevalence of diabetes will create demand for diabetes drugs and thus provides growth opportunities for the market in the forecast period.
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Further, the presence of the key players such as Bayer AG, Bausch Health Companies Inc., Bristol Myers Squibb Co., Eli Lilly and Co., Merck & Co. Inc., Novartis International AG, Novo Nordisk A/S, Pfizer Inc., among others also contributes to the growth of the market. These players adopt several growth strategies such as product launches, mergers and acquisitions, product innovations, and others. For instance, in February 2020, Sun Pharmaceutical Industries through its wholly-owned subsidiary launched Riomet ER, used to treat type 2 diabetes mellitus, in the US market. Riomet ER is the first and only US FDA-approved liquid formulation of extended-release metformin.
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Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Drug Class
- Region Covered- North America
- Competitive Landscape- Bausch Health Companies Inc., Bristol Myers Squibb Co., Eli Lilly and Co., Merck & Co. Inc., Novartis International AG, Novo Nordisk A/S, Pfizer Inc., and Takeda Pharmaceuticals Industries Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment region dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
North America Diabetes Care Drugs Market – Segmentation
By Drug Class
- Insulins
- Non-Insulin Injectable Drugs
- Oral Anti-Diabetic Drugs
- Combination Drugs
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