Market Trends of Europe Biguanide Industry
Increasing diabetes prevalence
The diabetes population in the European region is expected to rise by more than 5% over the forecast period.
According to the IDF, the overall diabetes expenditure in Europe among the population aged 20-79 years was USD 156 billion, and it is expected to increase to USD 174 billion by 2040. These figures indicate that approximately 9% of the total healthcare expenditure is spent on diabetes in Europe. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of diabetic drugs.
Oral anti-diabetic drugs have been available internationally and are recommended for use when escalation of treatment for type-2 diabetes is required along with lifestyle management. These are typically the first medications used in the treatment of type-2 diabetes due to their wide range of efficacy, safety, and mechanisms of action. Antidiabetic drugs help diabetes patients keep their condition under control and lower the risk of diabetes complications. People with diabetes may need to take antidiabetic drugs for their whole lives to control their blood glucose levels and avoid hypoglycemia and hyperglycemia. They present the advantages of easier management and lower cost, so they became an attractive alternative to insulin with better acceptance, which enhances adherence to the treatment.
The government, along with the companies, are working towards better diabetes management. For instance, the National Service Framework (NSF) program is improving services by setting national standards to drive up service quality and tackle variations in care. The Association of British HealthTech Industries (ABHI) launched a diabetes section, enabling diabetes technology companies to work together in the first forum of its kind.
Owing to the rising rate of obesity, the growing genetic factors for type-2 diabetes, the increasing prevalence, and the aforementioned factors, it is likely that the market will continue to grow.
Germany holds the highest market share in the Europe Biguanide Market in the current year
Diabetes is a significant health problem and one of the astounding challenges facing healthcare systems all over Germany. The prevalence of known type-1 and type-2 diabetes in the German adult population is very high, along with a high number of patients who are not yet diagnosed with the disease. Due to an aging population and an unhealthy lifestyle, the prevalence of type-2 diabetes is expected to increase steadily over the next few years. High-quality care, including adequate monitoring, control of risk factors, and active self-management, are the key factors for preventing complications in German patients with type-2 diabetes.
Diabetes reduces lifespan, and people with the disease are likely to experience blindness and be hospitalized for amputations, kidney failure, heart attacks, strokes, and heart failure. The first-line therapy used in patients with type-2 diabetes is metformin monotherapy. When metformin is contraindicated or not tolerated, or when treatment goals are not achieved after three months of use at the maximum tolerated dose, other options need to be considered. Dipeptidyl peptidase-4 inhibitors, sodium-glucose cotransporter-2 inhibitors, and glucagon-like peptide-1 agonists are generally used to supplement treatment with metformin.
About 8.5 million people in Germany suffer from diabetes, according to the German Diabetes Center (DDZ). The number of people with type-2 diabetes in Germany will continue to increase over the next twenty years. German law requires public plans to cap out-of-pocket health care costs and to cover all medically necessary treatment, including insulin. Germany is one of the most developed countries in terms of healthcare facilities. Moreover, the reimbursement policy and the pricing policy are highly regulated, which drives the market. The roll-out of many new products, increasing international research collaborations in technological advancement, and increasing awareness about diabetes among people are some of the market opportunities for the players in the German diabetes drug market.
