Market Size of North America Sulfonylureas Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 3.11 Billion |
| Market Size (2029) | USD 3.41 Billion |
| CAGR (2024 - 2029) | 1.90 % |
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?
North America Sulfonylureas Market Analysis
The North America Sulfonylureas Market size is estimated at USD 3.11 billion in 2024, and is expected to reach USD 3.41 billion by 2029, growing at a CAGR of 1.9% during the forecast period (2024-2029).
The market is estimated to reach a value of more than USD 3.2 billion by 2027.
The COVID-19 pandemic positively impacted the North America Sulfonylureas Market. The prevalence of diabetes in people hospitalized with COVID-19 infection and the recognition that improved glycemic control might improve outcomes and reduce the length of stay in patients with SARS-CoV-2 have underlined the importance of the anti-diabetic drugs market. People with diabetes have a weaker immune system, the COVID-19 complication aggravates the condition, and the immune system gets weaker very fast. Diabetes and uncontrolled hyperglycemia are risk factors for poor outcomes in patients with COVID-19 including an increased risk of severe illness or death.
Diabetic drugs are medicines developed to stabilize and control blood glucose levels amongst people with diabetes. Diabetic drugs are commonly used to manage diabetes. Diabetic drugs have been potential candidates for treating diabetic patients affected by SARS-CoV-2 infection during the COVID-19 pandemic. In North America, till April 2022, the United States was having the highest COVID cases around 82 million, the country also registered the highest death rate. Sulfonylurea is an oral anti-diabetic drug used to treat type 2 diabetes. People with type 2 diabetes have chronically high blood sugar levels and sulfonylureas make the body free up more insulin.
The North American region had witnessed an alarming increase in the prevalence of diabetes, in recent years. In developed countries, such as the United States and Canada, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates by monitoring their blood glucose levels.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
North America Sulfonylureas Industry Segmentation
The sulfonylureas are a class of agents that lower blood sugar by increasing the release of insulin from the pancreas. The North America Sulfonylureas Market is segmented into geography (United States, Canada, and the rest of North America). The report offers the value (in USD million) and volume (in units million) for the above segments. Further, the report will cover a segment-wise breakdown (Value and Volume) for all the countries provided under the Table of Contents.
| Geography | |
| United States | |
| Canada | |
| Rest of North America |
North America Sulfonylureas Market Size Summary
The North America Sulfonylureas Market is poised for steady growth over the forecast period, driven by the increasing prevalence of type 2 diabetes and the rising demand for effective diabetic medications. Sulfonylureas, as oral anti-diabetic drugs, play a crucial role in managing blood glucose levels by stimulating insulin release from pancreatic beta cells. The market's expansion is further supported by the growing awareness of the importance of glycemic control, especially highlighted during the COVID-19 pandemic, where diabetes was identified as a significant risk factor for severe illness. The United States holds a significant share of the market, reflecting its high diabetes incidence and the need for effective treatment options. The market is characterized by a mix of major global manufacturers and regional players, ensuring a competitive landscape.
The market dynamics are influenced by several factors, including lifestyle changes leading to increased obesity rates, genetic predispositions, and the progressive nature of diabetes. Health insurance coverage for diabetes medications, including sulfonylureas, is widespread, making them accessible to a larger population. The American Diabetes Association's guidelines and the FDA's focus on advancing therapeutic options further bolster the market's growth prospects. Despite the potential cardiovascular risks associated with some sulfonylureas, their role as a second-line therapy after metformin remains vital. The market's growth trajectory is expected to continue, supported by ongoing developments in diabetes management and the introduction of new therapeutic options.
North America Sulfonylureas 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 Market Drivers
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1.3 Market 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 Sulfonylureas
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2.2 Geography
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2.2.1 United States
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2.2.2 Canada
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2.2.3 Rest of North America
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North America Sulfonylureas Market Size FAQs
How big is the North America Sulfonylureas Market?
The North America Sulfonylureas Market size is expected to reach USD 3.11 billion in 2024 and grow at a CAGR of 1.9% to reach USD 3.41 billion by 2029.
What is the current North America Sulfonylureas Market size?
In 2024, the North America Sulfonylureas Market size is expected to reach USD 3.11 billion.
