The Indian diabetes care drugs market is anticipated to grow at a significant CAGR during the forecast period (2020-2026). The key factor that drives the growth of the market is the rising prevalence of diabetes in the country. India has the second-largest number of adults with diabetes globally. As per the IDF, there were 77 million adults (20-79 years) suffering from diabetes in 2019.
Moreover, the rising aging population is also among one of the key drivers of the Indian diabetes care drugs industry. As per the World Bank, there is more than 83 million elderly population (65 and above) that is over 6.1% of the total population. As older peoples are more prone to diseases such as diabetes, joint pain among others which creates scope for the market.
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As per the projections by the IDF, the diabetes prevalence is likely to reach more than 101.0 million in 2030 and further reach 134.2 million in 2045. Furthermore, the increased spending on healthcare and particularly diabetes is also likely to support the growth of the market over the forecast period. As per the World Economic Forum (WEF), the GDP of the country in 2018 was $2.9 trillion. According to the National Health Portal of India, India spends only 1.02% of its GDP on public health. The presence of the key players also supports the growth of the market over the forecast period.
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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- India
- Competitive Landscape- Eli Lilly & Co., Johnson & Johnson Services Inc., Merck & Co. Inc., Sanofi SA, Sun Pharmaceuticals Industries Ltd., 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?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID forecast
- Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
India Diabetes Care Drugs Market – Segmentation
By Drug Class
- Insulins
- Non-Insulin Injectable Drugs
- Oral Anti-Diabetic Drugs
- Combination Drugs
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
