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Europe Insulin Drugs And Glucagon-Like Peptide 1 (Glp-1) Receptor Agonist Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

ReportLinker
·4-min read

Diabetes is a chronic, life-threatening disease with no known cure. While Type 1 diabetes is caused by an immune system malfunction, Type-2 diabetes is linked to leading a sedentary lifestyle, which results in the development of inherent resistance to insulin.

New York, April 19, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Insulin Drugs And Glucagon-Like Peptide 1 (Glp-1) Receptor Agonist Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06062869/?utm_source=GNW
The factors that have driven the number of reported cases of diabetes can be segmented into individual-level risk factors, environmental risk factors, the evolution of the disease, detection effect, and global changes. Diabetes is associated with many health complications. People with diabetes have a 300% increased risk of being hospitalized compared to those without diabetes, and, thus, they incur more healthcare expenses than non-diabetic people.

Each drug is unique in the way it works in helping patients with diabetes to keep their condition under control. Certain drugs have similar actions and are grouped in the same class. How they are administered can also differ, with some medicines taken orally and others injected directly into the blood (insulin and GLP-1).

Byetta was the first GLP-1 that got approved in 2005. The glucagon-like peptide receptor agonist is administered subcutaneously and is used by Type 2 patients to control blood glucose levels.

Key Market Trends
Increasing Diabetes Population in Europe

The rate of newly diagnosed cases of Type 1 and Type 2 diabetes is seen increasing among the youth population in Europe. The prevalence of diabetes among all ages in the European region is increasing, mainly due to obesity, unhealthy diet, and physical inactivity. The prevalence of autoimmune Type 1 diabetes is also increasing in Europe.

As per sources, Europe has the highest number of children with Type 1 diabetes. Though Type 2 patient’s treatment is initiated with oral drugs, insulin may also be required when glucose levels are not well controlled due to the unhealthy lifestyle. Thus, the demand for insulin also exists among Type 2 diabetes patients.

The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure in the developed countries are the indications for the increasing usage of Insulin drugs and GLP-1 Receptor Agonist drugs.

Germany Held the Highest Market Share in 2020

The German market is vast and is expected to grow at a high rate during the forecast period. Due to the increasing diabetes population in Germany, the diabetes care devices market increases in the forecast period, currently, the diabetes population in Germany is about 8.03 million and it is expected to increase more than 8.25 million by 2026.

Pharmaceutical manufacturers in the country, such as Novo Nordisk, have assured that there is no current impact of the COVID-19 on their supply chain, and companies are regularly monitoring their supply chain to better assess the situation and act proactively to ensure minimal or no disruption in the availability of insulin drugs for the diabetic population in the country.

Insulin drug pricing is a major concern in many countries, and Germany is not an exception. The German government regulates the prices of drugs, and thus, pharmaceutical companies are focusing on pricing the products at minimal rates.

Competitive Landscape
The insulin market and GLP-1 receptor agonist market are by and large consolidated with leading companies, like Sanofi, Novo Nordisk, Eli Lilly, etc. They account for more than 80% of the supply in Europe. All these companies have established their brands in the market. However, due to intense competition in the local markets for insulin, consumer penetration for their products has to be achieved through constant work and effort.

Reasons to Purchase this report:
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Read the full report: https://www.reportlinker.com/p06062869/?utm_source=GNW

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