Philippines Diabetes Care Drugs Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 264.24 Million |
| Market Size (2029) | USD 319.95 Million |
| CAGR (2024 - 2029) | 3.90 % |
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?
Philippines Diabetes Care Drugs Market Analysis
The Philippines Diabetes Care Drugs Market size is estimated at USD 264.24 million in 2024, and is expected to reach USD 319.95 million by 2029, growing at a CAGR of 3.9% during the forecast period (2024-2029).
COVID-19 is a novel sickness caused by a SARS-CoV-2 virus strain. Most people infected with the virus will develop mild to moderate respiratory illness and recover without special treatment. The aged and those suffering from underlying medical conditions such as diabetes, hypertension, heart disease, lung disease, obesity, and cancer are at a higher risk of developing serious diseases. The virus infiltrates several cells in the body, including the heart and lungs, causing inflammatory changes that cause inflammation and multi-organ damage. Diabetes and systemic inflammation have been connected. According to studies, diabetes patients exhibited higher virus entry, a decreased immune response, less viral clearance, and dysregulated inflammatory markers.
Diabetes patients may be at the same risk of contracting COVID-19 as people who do not have diabetes. People with diabetes, on the other hand, have a higher risk of hospitalization, ICU admissions, severe sequelae, and mortality after getting COVID-19 due to the disease's essential features.
In terms of medicines, the insulin category commands a sizable market share. Over 100 million people worldwide use insulin, including all persons with Type 1 diabetes and 10% to 25% of people with Type 2 diabetes. Insulin production is extremely sophisticated, and only a few insulin manufacturers are on the market. As a result, there is fierce rivalry among these producers, who continually strive to satisfy patients' demands by providing the highest-quality insulin.
Philippines Diabetes Care Drugs Market Trends
Oral-Anti Diabetes Drugs is having the highest market share in Current Year
The Oral-Anti Diabetes Drugs segment is expected to increase with a CAGR of over 4.2% during the forecast period, mainly due to the demand from the Type-1 diabetes population, which was more than 4 million by the end 2022.
Diabetes care is restricted in the Philippines due to insufficient resources, government help, and economics. Regarding prevention, the national insurance system does not cover complete diabetic care, and private insurance companies only give limited diabetes coverage. As a result, most patients are forced to pay for "out-of-pocket" expenses such as laboratory tests and daily medications.
Insulin therapy is the most potent hypoglycaemic medication currently available for diabetes treatment; however, the potency of insulin deteriorates if it is stored under improper conditions. In Thailand, NCDs, including diabetes, account for more than 70% of all deaths. Obesity leads to a more than seven times increase in the risk of developing type 2 diabetes, while being overweight increases the risk by three times.
Through the Philippines government's encouragement, the usage of Management Devices increased over the forecast period.
Increasing Diabetes population in Thailand
Diabetes is a complex disease characterized by elevated blood sugar levels caused by impaired insulin synthesis and action. Insulin is a pancreatic hormone that regulates blood sugar levels. Diabetes, if left unchecked, can lead to a heart attack, stroke, leg amputation, blindness, and renal failure. Prediabetes affects around 14.2% of the population, according to DOST-FNRI statistics. One in every five Filipinos has abnormal glucose levels when diabetes and prediabetes are combined.
Significant barriers to health care exist in the Philippines, including limited health finance, which leads to high out-of-pocket payments and a fragmented referral system from general care to specialized care units. Due to budgetary constraints resulting from the economic slump and major supply shortages, access to diabetic devices became an even greater difficulty for the Philippines during the COVID-19 outbreak. Identifying and removing these roadblocks is crucial to fixing the country's insulin and diabetes treatment access problem.
Millions of people in low- and middle-income countries (LMICs) lack access to insulin and regular diabetes care. The Philippines, a lower-middle-income Southeast Asian country with more than 4 million diabetic adults, is no stranger to this problem.
Thus, the above factors are expected to drive the market growth over the forecast period.
Philippines Diabetes Care Drugs Industry Overview
The diabetes drugs market is semi-consolidated, with few significant generic players. A few major players, like Novo-Nordisk, Sanofi, AstraZeneca, and Bristol Myers Squibb, dominate the insulin drugs and Sglt-2 drugs market. The market for oral drugs, like Sulfonylureas and Meglitinides, comprises more generic players. The intensity of competition among the players is high, as each player is striving to develop new drugs and offer them at competitive pricing. Furthermore, players are tapping into new markets to increase their market shares, especially in emerging economies where the demand is very high compared to the supply.
Philippines Diabetes Care Drugs Market Leaders
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Eli Lilly
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Boehringer Ingelheim
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Astrazeneca
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Sanofi
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NovoNordisk
*Disclaimer: Major Players sorted in no particular order
Philippines Diabetes Care Drugs Market News
- March 2023: The approval of brolucizumab by the Philippine Food and Drug Administration (FDA) for the treatment of visual impairment caused by diabetic macular edema (DME) is a major achievement. DME is a prevalent microvascular complication in diabetic patients that can severely affect their vision and potentially result in blindness. This milestone is particularly significant for working-age individuals with DME, as they often face challenges in adhering to treatment due to the management of various diabetes-related conditions.
- November 2022: The Centers for Disease Control and Prevention (CDC) established an office in the Philippines in 2022 to strengthen and expand existing partnerships with the Philippines Department of Health (DOH). CDC supports the DOH to advance a broad range of health priorities, including increased global health security in Asia.
- May 2022: Tirzepatide (Mounjaro) is approved for the treatment of Type 2 diabetes in adults. Tirzepatide's FDA approval marks the first in a new class of diabetes medications: a dual GIP/GLP-1 receptor agonist.
Philippines Diabetes Care Drugs Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Oral Anti-diabetic drugs
- 5.1.1 Biguanides
- 5.1.1.1 Metformin
- 5.1.2 Alpha-Glucosidase Inhibitors
- 5.1.2.1 Alpha-Glucosidase Inhibitors
- 5.1.3 Dopamine D2 receptor agonist
- 5.1.3.1 Bromocriptin
- 5.1.4 SGLT-2 inhibitors
- 5.1.4.1 Invokana (Canagliflozin)
- 5.1.4.2 Jardiance (Empagliflozin)
- 5.1.4.3 Farxiga/Forxiga (Dapagliflozin)
- 5.1.4.4 Suglat (Ipragliflozin)
- 5.1.5 DPP-4 inhibitors
- 5.1.5.1 Onglyza (Saxagliptin)
- 5.1.5.2 Tradjenta (Linagliptin)
- 5.1.5.3 Vipidia/Nesina(Alogliptin)
- 5.1.5.4 Galvus (Vildagliptin)
- 5.1.6 Sulfonylureas
- 5.1.6.1 Sulfonylureas
- 5.1.7 Meglitinides
- 5.1.7.1 Meglitinides
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5.2 Insulins
- 5.2.1 Basal or Long Acting Insulins
- 5.2.1.1 Lantus (Insulin Glargine)
- 5.2.1.2 Levemir (Insulin Detemir)
- 5.2.1.3 Toujeo (Insulin Glargine)
- 5.2.1.4 Tresiba (Insulin Degludec)
- 5.2.1.5 Basaglar (Insulin Glargine)
- 5.2.2 Bolus or Fast Acting Insulins
- 5.2.2.1 NovoRapid/Novolog (Insulin Aspart)
- 5.2.2.2 Humalog (Insulin Lispro)
- 5.2.2.3 Apidra (Insulin Glulisine)
- 5.2.3 Traditional Human Insulins
- 5.2.3.1 Novolin/Actrapid/Insulatard
- 5.2.3.2 Humulin
- 5.2.3.3 Insuman
- 5.2.4 Biosimilar Insulins
- 5.2.4.1 Insulin Glargine Biosimilars
- 5.2.4.2 Human Insulin Biosimilars
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5.3 Combination drugs
- 5.3.1 Insulin combinations
- 5.3.1.1 NovoMix (Biphasic Insulin Aspart)
- 5.3.1.2 Ryzodeg (Insulin Degludec and Insulin Aspart)
- 5.3.1.3 Xultophy (Insulin Degludec and Liraglutide)
- 5.3.2 Oral Combinations
- 5.3.2.1 Janumet (Sitagliptin and Metformin)
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5.4 Non-Insulin Injectable drugs
- 5.4.1 GLP-1 receptor agonists
- 5.4.1.1 Victoza (Liraglutide)
- 5.4.1.2 Byetta (Exenatide)
- 5.4.1.3 Bydureon (Exenatide)
- 5.4.1.4 Trulicity (Dulaglutide)
- 5.4.1.5 Lyxumia (Lixisenatide)
- 5.4.2 Amylin Analogue
- 5.4.2.1 Symlin (Pramlintide)
6. MARKET INDICATORS
- 6.1 Type-1 Diabetic Population
- 6.2 Type-2 Diabetic Population
7. COMPETITIVE LANDSCAPE
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7.1 COMPANY PROFILES
- 7.1.1 Takeda
- 7.1.2 Novo Nordisk
- 7.1.3 Pfizer
- 7.1.4 Eli Lilly
- 7.1.5 Janssen Pharmaceuticals
- 7.1.6 Astellas
- 7.1.7 Boehringer Ingelheim
- 7.1.8 Merck And Co.
- 7.1.9 AstraZeneca
- 7.1.10 Bristol Myers Squibb
- 7.1.11 Novartis
- 7.1.12 Sanofi
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Philippines Diabetes Care Drugs Industry Segmentation
Diabetes or diabetes mellitus describes a group of metabolic disorders characterized by a high blood sugar level in a person. With diabetes, the body either does not produce enough insulin or the body's cells do not respond properly to insulin, or both. The Philippines Diabetes Care Drugs Market is segmented into Drugs. The report offers the value (in USD) and volume (in Units) for the above segments.
| Oral Anti-diabetic drugs | Biguanides | Metformin |
| Oral Anti-diabetic drugs | Alpha-Glucosidase Inhibitors | Alpha-Glucosidase Inhibitors |
| Oral Anti-diabetic drugs | Dopamine D2 receptor agonist | Bromocriptin |
| Oral Anti-diabetic drugs | SGLT-2 inhibitors | Invokana (Canagliflozin) |
| Jardiance (Empagliflozin) | ||
| Farxiga/Forxiga (Dapagliflozin) | ||
| Suglat (Ipragliflozin) | ||
| Oral Anti-diabetic drugs | DPP-4 inhibitors | Onglyza (Saxagliptin) |
| Tradjenta (Linagliptin) | ||
| Vipidia/Nesina(Alogliptin) | ||
| Galvus (Vildagliptin) | ||
| Oral Anti-diabetic drugs | Sulfonylureas | Sulfonylureas |
| Oral Anti-diabetic drugs | Meglitinides | Meglitinides |
| Insulins | Basal or Long Acting Insulins | Lantus (Insulin Glargine) |
| Levemir (Insulin Detemir) | ||
| Toujeo (Insulin Glargine) | ||
| Tresiba (Insulin Degludec) | ||
| Basaglar (Insulin Glargine) | ||
| Insulins | Bolus or Fast Acting Insulins | NovoRapid/Novolog (Insulin Aspart) |
| Humalog (Insulin Lispro) | ||
| Apidra (Insulin Glulisine) | ||
| Insulins | Traditional Human Insulins | Novolin/Actrapid/Insulatard |
| Humulin | ||
| Insuman | ||
| Insulins | Biosimilar Insulins | Insulin Glargine Biosimilars |
| Human Insulin Biosimilars | ||
| Combination drugs | Insulin combinations | NovoMix (Biphasic Insulin Aspart) |
| Ryzodeg (Insulin Degludec and Insulin Aspart) | ||
| Xultophy (Insulin Degludec and Liraglutide) | ||
| Combination drugs | Oral Combinations | Janumet (Sitagliptin and Metformin) |
| Non-Insulin Injectable drugs | GLP-1 receptor agonists | Victoza (Liraglutide) |
| Byetta (Exenatide) | ||
| Bydureon (Exenatide) | ||
| Trulicity (Dulaglutide) | ||
| Lyxumia (Lixisenatide) | ||
| Non-Insulin Injectable drugs | Amylin Analogue | Symlin (Pramlintide) |
Philippines Diabetes Care Drugs Market Research FAQs
How big is the Philippines Diabetes Care Drugs Market?
The Philippines Diabetes Care Drugs Market size is expected to reach USD 264.24 million in 2024 and grow at a CAGR of 3.9% to reach USD 319.95 million by 2029.
What is the current Philippines Diabetes Care Drugs Market size?
In 2024, the Philippines Diabetes Care Drugs Market size is expected to reach USD 264.24 million.
Who are the key players in Philippines Diabetes Care Drugs Market?
Eli Lilly, Boehringer Ingelheim, Astrazeneca, Sanofi and NovoNordisk are the major companies operating in the Philippines Diabetes Care Drugs Market.
What years does this Philippines Diabetes Care Drugs Market cover, and what was the market size in 2023?
In 2023, the Philippines Diabetes Care Drugs Market size was estimated at USD 253.93 million. The report covers the Philippines Diabetes Care Drugs Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Philippines Diabetes Care Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Philippines Diabetes Care Drugs Industry Report
Statistics for the 2024 Philippines Diabetes Care Drugs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Philippines Diabetes Care Drugs analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
