Diabetes Supplements Market: Introduction
According to the report, the global diabetes supplements market was valued at US$ 8.4 Bn in 2020 and is projected to expand at a CAGR of 4.2% from 2021 to 2031. 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, the body is either unable to produce enough insulin or cannot effectively utilize insulin produced. The two primary 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 intended to enhance the diet of a person and contain vitamins, minerals, herbs, amino acids, metabolites, and other substances. These supplements are used to lower blood glucose, improve cholesterol, lower blood pressure, neuropathy, insulin resistance, and other complications in diabetic patients.
Increase in Burden of Diabetes Globally
The prevalence of diabetes is rising across the globe. Diabetes is associated with lower quality of life and shorter life expectancy (eight years). Increase in sedentary lifestyle, aging, smoking, and excessive cholesterol levels is expected to boost the prevalence of diabetes, thereby propelling the demand for diabetes supplements.
According to a research conducted by the World Health Organization (WHO), in 2019, diabetes was the 9th major cause of death, with a projected 1.5 million deaths caused by diabetes. Diabetes is projected to be associated with around 11.3% deaths globally from all causes in people aged between 20 and 79 years. Owing to the above mentioned factors, the number of diabetes treatments has increased across the globe.
According to data published by Novo Nordisk, a Denmark-based multinational pharmaceutical company, around 183 million diabetic patients were treated in 2018, and is expected to increased steadily by 2025.
Vitamins to Lead Diabetes Supplements Market
In terms of type, the global diabetes supplements market has been classified into vitamins, minerals, proteins, antioxidant & fatty acids, dietary fibers, and others. The vitamins segment is anticipated to dominate the global market during the forecast period due to the launch of scientifically formulated vitamin supplements by prominent players and increase in awareness about vitamin-based diabetes supplements among patients.
Type 2 Segment to Dominate Global Diabetes Supplements Market
Based on disease type, the global diabetes supplements market has been divided into type 1 and type 2. Type 2 diabetes is the most consulted form of diabetes. According to various studies, prevalence of type 2 diabetes varies from 90% to 95% across the globe. Surge in geriatric population is expected to increase the incidence of type 2 diabetes across the globe, which is likely to drive the type 2 diabetes segment from 2021 to 2031.
Preference for Tablet Form of Supplements
In terms of dosage form, the global diabetes supplements market has been categorized into tablets, solution, powder, and others. Diabetic tablets can work to control diabetes. All the ingredients used are safe and completely natural. The herbal properties help improve insulin sensitivity and stimulate insulin release in diabetic patients.
Retail Pharmacies to be Key Distribution Channel
Based on distribution channel, the global diabetes supplements market has been divided into hospital pharmacies, retail pharmacies, and online pharmacies. Wide availability of diabetes supplements and expansion of retail pharmacies base are anticipated to propel the retail pharmacies segment over the next few years. According to various independent surveys, retail pharmacies are primary consultation centers in several low- and middle-income countries in Asia Pacific and Latin America. Moreover, several international, corporate, and retail pharmacies are expanding their base in these region; for instance, Watson in the Philippines and Boots in South Korea and China.
North America to Lead Diabetes Supplements Market
The global diabetes supplements market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Increase in geriatric population and high prevalence of chronic diseases in the region are projected to drive the diabetes supplements market in North America during the forecast period. Moreover, rise in healthcare expenditure by public and private sectors is expected to fuel the growth of the market in the region.
The global diabetes supplements market is fragmented due to presence of large number of leading players. Key players operating in the global market include Abbott (Abbott Healthcare Pvt. Ltd.), Aksuvital Natural Products Co., Arkopharma, Bionova, Caelus Health, CuraLife Global, Glucose Health, Inc., Hexagon Nutrition Pvt. Ltd., La Grande P Ltd. (La Nutraceuticals), Lysulin, Inc., Nature's Sunshine Products, Inc., Nestlé Health Science, Nutricia, and Olive Healthcare. These players hold major market share in their respective regions. Growth strategies adopted by leading players are likely to drive the global diabetes supplements market.
Global Diabetes Supplements Market: Segmentation
- Diabetes Supplements Market, by Disease Type
- Type 1
- Type 2
- Diabetes Supplements Market, by Dosage Form
- Diabetes Supplements Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Diabetes Supplements Market, by Type
- Antioxidant & Fatty Acids
- Dietary Fibers
- 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
- North America
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