Diabetes Supplements Market: Introduction
- Diabetes, also known diabetes mellitus, is a metabolic disease resulting in high blood sugar. The hormone known as insulin is responsible for the movement of sugar from the blood into the cells, which is stored and used for providing energy to the body.
- In case of diabetes, body is either unable to produce enough insulin or cannot effectively utilize insulin produced
- Two main types of diabetes are type 1 diabetes and type 2 diabetes. In case of type 1 diabetes, the immune system attacks and destroys insulin producing cells in the pancreas while in type 2 diabetes patients the body becomes resistant to insulin.
- Dietary supplements are ingredients that are intended to enhance the diet of a person and contain vitamins, minerals, herbs, amino acids, metabolites, and other substances. These supplements are used for lowering blood glucose, improving cholesterol, lowering blood pressure, neuropathy, insulin resistance, and other complications in diabetic patients.
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Key Drivers of Global Diabetes Supplements Market
- Increase in prevalence of diabetes across the globe, large number of companies offering a wide range of diabetes supplements, new product launch, and rise in adoption of nutritional supplement products for diabetes management are various factors expected to drive the global diabetes supplements market
- According to the International Diabetes Federation (IDF), in 2015, 415 million people worldwide were living with diabetes and it is projected that more than 10% of the world’s adult population or around 642 million people are likely to have diabetes by 2040
- According to the World Health Organization (WHO), nearly 82.7 million people were identified as diabetic in 2000 in Asia Pacific and this number is expected to increase by 130% to reach 190.5 million by 2030
- In November 2019, Dr Reddy's Laboratories Ltd launched Celevida, a diabetic-friendly drink, in India. The company expanded its presence in nutrition segment of the market with this launch.
Vitamins Segment to Account for Major Share of Market
- Based on type, the global diabetes supplements market can be classified into vitamins, minerals, herbs, proteins, dietary fibers, omega 3 fatty acids, and others
- The vitamins segment is anticipated to dominate the global market during the forecast period, owing to launch of scientifically formulated vitamin supplements by prominent players in the market and increase in awareness about vitamin-based diabetes supplements among the patients
Type 2 Diabetes Segment to Offer Significant Opportunities
- In terms of disease type, the global diabetes supplements market can be segmented into type 1 diabetes and type 2 diabetes
- The type 2 diabetes segment is expected to gain significant share of share the global diabetes supplements market by 2027. High prevalence of type 2 diabetes among adults is projected to drive the segment. According to the National Health Interview Survey, 2016 and 2017, in the U.S., type 2 diabetes was common among older men, adults and people with lower family income level, lower educational level, and higher body mass index (BMI). Also, national prevalence of the disease was 0.5% for type 1 diabetes and 8.5% for type 2 diabetes in the country in the same period.
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North America to Dominate Global Diabetes Supplements Market
- In terms of region, the global diabetes supplements market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global diabetes supplements market during the forecast period.
- Recent product launch in the U.S., high adoption of dietary supplement among adults & the geriatric population, and increase in awareness about health lifestyle among diabetes patients are various factors projected to drive the market in North America
- In May 2015, Glucose Health, Inc. launched Glucose Health Natural Blood Sugar Maintenance, an innovative new dietary supplement for patients with type 2 diabetes
Key Players Operating in Global Diabetes Supplements Market
The global diabetes supplements market is highly fragmented, with a large number of domestic players accounting for a major market share. Key players operating in the global diabetes supplements market are:
- Novo Nordisk
- Nestlé Health Science
- Danone Nutricia
- Nature's Sunshine Forms
- NBTY, Inc.
- Glucose Health, Inc.
- Bionova Lifesciences
- Caelus Health
- Arkopharma Laboratories
Global Diabetes Supplements Market: Research Scope
Global Diabetes Supplements Market, by Type
- Dietary Fibers
- Omega 3 Fatty acids
Global Diabetes Supplements Market, by Dosage Form
- Soft Gels
Global Diabetes Supplements Market, by Disease Type
- Type 1 Diabetes
- Type 2 Diabetes
Global Diabetes Supplements Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies/E-commerce Platforms
Global Diabetes Supplements Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.