Market Size of Sulfonylureas Industry
| Study Period | 2019- 2029 |
| Market Size (2024) | USD 9.98 Billion |
| Market Size (2029) | USD 11.32 Billion |
| CAGR (2024 - 2029) | 3.12 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | North America |
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?
Sulfonylureas Market Analysis
The Sulfonylureas Market size is estimated at USD 9.98 billion in 2024, and is expected to reach USD 11.32 billion by 2029, growing at a CAGR of 3.12% during the forecast period (2024-2029).
The COVID-19 pandemic has had a substantial impact on the 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 oral 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. Thus, the COVID-19 outbreak increased the sulfonylureas market's growth globally.
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.
In May 2021, the World Health Assembly agreed on a Resolution on strengthening the prevention and control of diabetes. It recommends action in areas including increasing access to medicines and health products for the treatment of diabetes and assessing the feasibility and potential value of establishing a web-based tool to share information relevant to the transparency of markets for diabetes medicines and health products.
According to International Diabetes Federation (IDF), the adult diabetes population in 2021 is approximately 537 million, and this number is going to increase by 643 million in 2030. The rate of newly diagnosed cases of Type 1 and Type 2 diabetes is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure worldwide are indications of the increasing usage of anti-diabetic drugs. Technological advancements and innovations have increased over the period leading to several modifications either in the drugs or the formulations being developed.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Sulfonylureas Industry Segmentation
The sulfonylureas are a class of agents that lower blood sugar by increasing the release of insulin from the pancreas. The Sulfonylureas Market is segmented into geography (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America). The report offers the value (in USD) and volume (in units) for the above segments.
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Sulfonylureas Market Size Summary
The sulfonylureas market is poised for growth, driven by the increasing prevalence of type 2 diabetes and the rising demand for effective oral anti-diabetic medications. Sulfonylureas play a crucial role in managing blood sugar levels by stimulating insulin release from pancreatic beta cells, making them a vital component in diabetes care, especially after the initial treatment with metformin. The market's expansion is further supported by global health initiatives, such as the World Health Assembly's resolution on diabetes prevention and control, and the WHO's Global Diabetes Compact, which aim to enhance access to diabetes treatments and improve care standards worldwide. The COVID-19 pandemic has also underscored the importance of glycemic control, as diabetes patients face heightened risks, thereby boosting the demand for sulfonylureas.
Regionally, the Middle East and Africa are expected to experience significant market growth due to alarming increases in diabetes prevalence, driven by lifestyle changes and obesity. Governments in these regions are actively implementing policies to improve healthcare access and affordability, which is anticipated to further stimulate market growth. The sulfonylureas market is characterized by fragmentation, with major players like Pfizer, Sanofi, and Merck holding substantial market shares alongside numerous generic manufacturers. Regulatory developments, such as pricing controls and safety warnings, also influence market dynamics, ensuring that sulfonylureas remain a critical component of diabetes management strategies globally.
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 Sulphonylureas
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Rest of North America
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2.2.2 Europe
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2.2.2.1 France
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2.2.2.2 Germany
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2.2.2.3 Italy
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2.2.2.4 Spain
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2.2.2.5 United Kingdom
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2.2.2.6 Russia
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2.2.2.7 Rest of Europe
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2.2.3 Latin America
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2.2.3.1 Mexico
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2.2.3.2 Brazil
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2.2.3.3 Rest of Latin America
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2.2.4 Asia-Pacific
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2.2.4.1 Japan
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2.2.4.2 South Korea
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2.2.4.3 China
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2.2.4.4 India
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2.2.4.5 Australia
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2.2.4.6 Vietnam
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2.2.4.7 Malaysia
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2.2.4.8 Indonesia
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2.2.4.9 Philippines
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2.2.4.10 Thailand
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2.2.4.11 Rest of Asia-Pacific
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2.2.5 Middle East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 Iran
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2.2.5.3 Egypt
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2.2.5.4 Oman
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2.2.5.5 South Africa
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2.2.5.6 Rest of Middle East and Africa
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Sulfonylureas Market Size FAQs
How big is the Sulfonylureas Market?
The Sulfonylureas Market size is expected to reach USD 9.98 billion in 2024 and grow at a CAGR of 3.12% to reach USD 11.32 billion by 2029.
What is the current Sulfonylureas Market size?
In 2024, the Sulfonylureas Market size is expected to reach USD 9.98 billion.
