Global Sulfonylureas Market - Industry Trends and Forecast to 2029

Market Analysis and Size

In recent years, the sulfonylureas market is anticipated to grow rapidly during the forecast period. As per the World Health Organization, approximately 1.9 billion adults were overweight in 2016, with around 650 million being obese. Diabetes is becoming more common due to risk factors such as obesity and overweight. As a result, risk factors including smoking, being overweight, being obese, and having high cholesterol levels are projected to increase the prevalence of diabetes, increasing the demand for sulfonylureas market. Sulfonylureas are oral hypoglycaemic medication used to treat type 2 diabetes. The sulfonylureas cause the pancreas to secrete more insulin.

Data Bridge Market Research analyses that the sulfonylureas market was valued at USD 6,600.44 million in 2021 and is expected to reach USD 8,485.43 million by 2029, registering a CAGR of 3.19% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Sulfonylureas are a class of drugs that are used to treat type 2 diabetes. Sulfonylureas function by decreasing blood glucose levels and increasing the secretion of insulin from the pancreas' beta cells. Sulfonylureas do not operate in patients with type 1 diabetes because their effect is dependent on the presence of active beta cells. Sulfonylureas promote insulin release by inhibiting ATP-sensitive potassium channels by lowering potassium permeability in beta cells. This causes the cell to depolarize and enhance calcium entry, resulting in an increase in insulin secretion.

Report Scope and Market Segmentation

Sulfonylureas Market Dynamics

Drivers

• Rise in the prevalence of type 2 diabetes across the globe

The rising prevalence of type 2 diabetes across the globe is a major factor driving the sulfonylureas market's growth rate. Sulfonylureas are usually the second line of treatment for type 2 diabetes patients. In recent years, the global diabetic population has exploded, with type 2 diabetes accounting for about 90% of all diabetics.

• Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of sulfonylureas market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

• Growing number of geriatric population

The rising geriatric population is expected to enhance the growth rate of sulfonylureas market. Sulfonylureas are generally used as a last alternative for people with type 2 diabetes. The global diabetic population has grown in recent years, with type 2 diabetes accounting for about 90% of all diabetics. As people get older, the prevalence of type 2 diabetes rises, as does the risk of coronary heart disease, vascular illness, and stroke. Patients with diabetes who are older are at a higher risk of sarcopenia and physical impairment.

Furthermore, rising initiatives by public and private organizations to spread awareness will expand the sulfonylureas market. Additionally, changing lifestyle of people and increasing incidences of obesity will result in the expansion of sulfonylureas market.

Opportunities

• Increase in the number of research and development activities       

Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the sulfonylureas market growth. Along with this, rising drug approvals and launches will further propel the market's growth rate. The advent of new and more efficient diabetic treatment and monitoring products is estimated to boost the market's growth rate in the future.  

Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the sulfonylureas market growth during the forecast period.

Restraints/Challenges

On the other hand, the expiration of patented drugs and the introduction of generic version of drugs will obstruct the market's growth rate. Also, pregnant women, those allergic to sulfa medications, and people with kidney or liver disease are also instructed not to take anti-diabetic sulphonylure drugs. This will impede the market's growth rate. The lack of healthcare infrastructure in developing economies and high implementation cost will challenge the sulfonylureas market. Additionally, side effects linked with sulfonylureas such as nausea, dizziness, diarrhea, headache and others will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This sulfonylureas market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the sulfonylureas market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Patient Epidemiology Analysis

Sulfonylureas market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.

COVID-19 Impact on Sulfonylureas Market

Over the projected period, the sulfonylureas market is expected to be constrained by the COVID-19 outbreak. Since its emergence in December 2019, the COVID-19  virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19, a new coronavirus, was identified as the causal agent in the pneumonia cases. This virus spread quickly over the world, killing a large number of people. COVID-19 was labelled a global pandemic by the World Health Organization (WHO) in March 2020, and rigorous measures to prevent the disease's spread were recommended. Since then, the pandemic has delayed the expansion of the healthcare sector and disrupted the supply chain. Furthermore, governments in many nations have imposed nationwide lockdowns to halt the spread of COVID-19. Similarly, healthcare organizations in numerous nations throughout the world are having difficulty continuing their supply chain activities. The supply chain slowness has also hampered the sulfonylureas market.

Global Sulfonylureas Market Scope

The sulfonylureas market is segmented on the basis of drugs, indication, dosage form, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Drugs

• Glyburide
• Glipizide
• Glimepiride
• Others

Indication

• Diabetes
• Others

Dosage form

• Tablets
• Capsules
• Others

Route of Administration

• Oral
• Others

End-Users

• Hospitals
• Specialty Clinics
• Homecare
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

Sulfonylureas Market Regional Analysis/Insights

The sulfonylureas market is analysed and market size insights and trends are provided by country, drugs, indication, dosage form, route of administration, end-users and distribution channel as referenced above.

The countries covered in the Sulfonylureas market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the sulfonylureas market because of the growing presence of major key players and rising healthcare expenditure will further propel the market's growth rate in this region. Additionally, increasing prevalence of diabetes will further influence the market's growth rate in this region

Asia-Pacific are expected to grow during the forecast period of 2022 to 2029 due to surging number of population and growing awareness about diabetes in this region. Also, development of healthcare infrastructure and increasing government initiatives will further propel the market's growth rate in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Sulfonylureas Market Share Analysis

The Sulfonylureas market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to sulfonylureas market.

Some of the major players operating in the sulfonylureas market are:

• Amneal Pharmaceuticals LLC. (US)
• Dr. Reddy's Laboratories Ltd. (India)
• AstraZeneca (UK)
• Johnson & Johnson Private Limited (US)
• Bausch Health Companies Inc. (Canada)
• Eli Lilly and Company (US)
• AbbVie Inc. (US)
• Abbott (US)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Mylan N.V. (US)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Sanofi (France)
• Novartis AG (Switzerland)
• Sun Pharmaceutical Industries Ltd. (India)
• Aurobindo Pharma (India)
• Lupin (India)
• Allergan (Ireland)
• Merck & Co., Inc. (US)
• Pfizer Inc. (US)
• GlaxoSmithKline plc (UK) 
• Zydus Cadila (India)
• Hikma Pharmaceuticals PLC (UK)
• Cipla Inc. (US)
• Apotex Inc. (Canada)

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