Latin America Non-Insulin Diabetes Therapies Market

The size of the Latin America Non-Insulin Diabetes Therapies market was calculated at USD 1.89 million in 2022 and is expected to grow at a CAGR of 4.93% to reach USD 2.40 million by 2027.

Non-insulin therapy is commonly utilized in type 2 diabetes patients whose bodies either do not produce enough insulin or cannot use the insulin they make efficiently. Non-insulin-based medications work through various mechanisms to lower blood glucose levels and keep them stable for optimal glycemic control.

The Latin American market for non-insulin diabetic therapy is predicted to grow due to the rising incidence and prevalence of diabetes. Non-insulin treatment is primarily used to treat type 2 diabetes, accounting for approximately 90% of all diabetes cases. According to the International Diabetes Federation's (IDF) 2017 Diabetes Atlas, Latin America had over 25 million diabetic individuals, with around 10 million having type 2 diabetes.

The economic burden of diabetes in Latin America is enormous, and it is predicted to rise significantly throughout the forecast period. The rapid rise in diabetes prevalence across Mexico, extensive R&D activities, and increasing demand for affordable and long-acting drugs are expected to promote the growth of the Latin American non-insulin diabetes therapies market. According to a study by the American Diabetes Association, the overall expenditures of diagnosed diabetes increased to US$ 327 billion in 2017 from US$ 245 billion in 2012. As a result, the market for non-insulin diabetic therapy is likely to rise in the near future across the globe.

Furthermore, the market participants are introducing innovative medicines and combination therapies, which is projected to propel the non-insulin diabetes therapeutics market forward in this region.

However, rigorous regulations governing the development of new diabetic medications may slow the market's growth over the forecast period. Furthermore, the lengthy approval process for pharmaceuticals may stifle the market's growth in the predicted timeframe. The most significant restriction of the market during the projection period is the expiration of patents on key blockbuster pharmaceuticals. In addition, the market for non-insulin anti-diabetes medications in Latin America is constrained by high therapy costs, a lack of treatment options, and patient awareness.

This research report on the Latin American Non-insulin diabetes therapies market has been segmented and sub-segmented into the following categories:

By Drug Type:

• Sulphonylureas     
• Amylin Agonists    
• GLP-1 Agonists & Analogs
• Biguanides             
• Glinides & Meglinitides      
• Sodium-Glucose cotransporter 2 (SGLT2) Inhibitors       
• Thiazolidinediones (or Glitazones or TZDs )
• Alpha-Glucosidase Inhibitors         
• Dipeptidyl Peptidase-4 (DPP4) Inhibitors

By Country:

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

During the forecast period, the Latin American market is expected to account for a promising share in the global market due to the growth in the number of people facing diabetic problems; the growth in this market is expected to increase exponentially. In addition, the vast number of active clinical studies in the region and the availability of better treatment alternatives and healthcare infrastructure Due to the rising prevalence of type 2 diabetes, the slow improvement of medical infrastructure, and more awareness, the region is an expanding market for non-insulin anti-diabetic medications.

Due to minor side effects, little effect on a patient's weight, effectiveness in combination with other anti-diabetes treatments, and vigorous R&D activities to produce novel products, the non-insulin diabetes drug market in Mexico is predicted to increase significantly over the forecast period.

KEY MARKET PLAYERS:

A few of the prominent companies operating in the Latin America Non-Insulin Diabetes Therapies market profiled in this report are Tobira (New Jersey), Eli Lilly and Sumitomo Dainippon Pharma (Japan), Novo Nordisk (Denmark), Takeda (Japan), Sanofi (China), Mannkind (California), Bristol-Myers Squibb (New York), AstraZeneca (U.K), Boehringer Ingelheim (Germany) and Bayer (Germany).