Market Size of MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 165.50 Million |
| Market Size (2029) | USD 256.40 Million |
| CAGR (2024 - 2029) | 9.15 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Market Analysis
The MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Market size is estimated at USD 165.5 million in 2024, and is expected to reach USD 256.40 million by 2029, growing at a CAGR of 9.15% during the forecast period (2024-2029).
The COVID-19 pandemic positively impacted the Asia-Pacific Sodium-Dependent Glucose Cotransporter 2 market. People with diabetes have a weak immune system so, with COVID-19, the immune system gets weaker very fast. People with diabetes have more chances to get into serious complications rather than normal people. The manufacturers of diabetes drugs have taken care during COVID-19 to deliver the medications to diabetes patients with the help of local governments. NovoNordisk stated on their website that 'Since the start of COVID-19, our commitment to patients, our employees and the communities where we operate has remained unchanged, we continue to supply our medicines and devices to people living with diabetes and other serious chronic diseases, safeguard the health of our employees, and take actions to support doctors and nurses as they work to defeat COVID-19.'
The Market is increasing mainly due to the drugs Jardiance and Farxiga/Forxiga. Jardiance is a once-daily oral medication that is used to control blood glucose levels in people suffering from type-2 diabetes. Patients prefer this drug, as it has a lesser risk of cardiovascular diseases when compared to other SGLT 2 class of drugs. The number of diabetic patients in Middle-East and Africa is increasing immensely over the past few years due to factors, including the increasing geriatric population in the region and the increase in the overweight and obese population, owing to unhealthy diets and physical inactivity. As diabetes can potentially increase the risk of cardiovascular diseases, it needs to be managed well by seeking suitable treatments at regular intervals of time.
MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Industry Segmentation
SGLT2 inhibitors are a class of prescription medicines that are FDA-authorized to be used with diet and exercise to decrease blood sugar in adults with type 2 diabetes. Middle-East and Africa, Sodium-dependent Glucose Co-transporter 2 Inhibitors Market, Witnessed USD 135 million in the current year and is anticipated to register a CAGR of over 11% during the forecast period. Middle-East and Africa Sodium-dependent Glucose Co-transporter 2 Inhibitors Market is Segmented into Drug (Invokana, Jardiance, and Farxiga/Forxiga) and Geography. The report offers the value (in USD million) and volume (in Units million) for the above segments. We will provide a segment-wise breakdown (Value and Volume) for all the countries covered under the Table of Contents.
| Drug | |||||
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| Geography | |
| Saudi Arabia | |
| Iran | |
| Egypt | |
| Oman | |
| South Africa | |
| Rest of Middle-East and Africa |
MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Market Size Summary
The Middle East and Africa Sodium-Dependent Glucose Co-Transporter 2 (SGLT 2) Inhibitors Market is poised for significant growth over the forecast period, driven by an increasing prevalence of diabetes in the region. This rise in diabetes cases is attributed to lifestyle changes, an aging population, and a surge in obesity due to unhealthy diets and physical inactivity. The market is primarily fueled by the popularity of drugs like Jardiance and Farxiga/Forxiga, which are preferred for their lower cardiovascular risk compared to other SGLT 2 inhibitors. The COVID-19 pandemic has further highlighted the importance of these medications, as individuals with diabetes are at a higher risk of severe complications from the virus. The commitment of pharmaceutical companies to ensure the continuous supply of these essential medications during the pandemic has reinforced their market position.
Saudi Arabia emerges as a key player in the region, holding a substantial market share and implementing government initiatives to reduce diabetes prevalence. These initiatives include levies on sugary beverages and promoting preventive healthcare measures. The market is characterized by a high level of consolidation, with major manufacturers like Eli Lilly, Boehringer Ingelheim, and AstraZeneca dominating the landscape. Collaborative efforts, such as joint ventures, have strengthened the market presence of these companies. The approval of SGLT 2 inhibitors for additional therapeutic uses, such as heart failure, further expands their market potential. As the region continues to address the diabetes epidemic, the demand for effective and cost-efficient treatments like SGLT 2 inhibitors is expected to grow, supported by increasing healthcare expenditure and government health programs.
MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Drivers
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1.3 Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Drug
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2.1.1 Sodium-dependent Glucose Co-transporter 2 (SGLT 2) Inhibitor
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2.1.1.1 Invokana (Canagliflozin)
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2.1.1.2 Jardiance (Empagliflozin)
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2.1.1.3 Farxiga/Forxiga (Dapagliflozin)
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2.2 Geography
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2.2.1 Saudi Arabia
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2.2.2 Iran
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2.2.3 Egypt
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2.2.4 Oman
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2.2.5 South Africa
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2.2.6 Rest of Middle-East and Africa
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MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Market Size FAQs
How big is the MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Market?
The MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Market size is expected to reach USD 165.50 million in 2024 and grow at a CAGR of 9.15% to reach USD 256.40 million by 2029.
What is the current MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Market size?
In 2024, the MEA Sodium-dependent Glucose Co-transporter 2 Inhibitors Market size is expected to reach USD 165.50 million.
