Indian Diabetes Market Outlook
According to the report by Expert Market Research (EMR), Indian diabetes market is projected to grow at a CAGR of 16.5% between 2024 and 2032. Aided by increasing obesity rates and accelerating stress levels, the market is expected to grow significantly by 2032.
Diabetes, a chronic metabolic disease characterised by elevated levels of blood glucose, has reached epidemic proportions in India. The ailment arises from the body’s inability to produce insulin or to utilise it effectively. India, unfortunately, has emerged as the diabetes capital of the world, making the Indian diabetes market a significant area of focus.
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The alarming rise in the Indian diabetes market growth can be attributed to several factors. Lifestyle changes, such as reduced physical activity, increased stress, and consumption of unhealthy foods, are primary culprits. Furthermore, genetic predisposition, urbanisation, and an ageing population have also been crucial contributors.
The market demand has amplified due to heightened awareness, advanced diagnostic centres, and the availability of better therapeutic options. The government, recognising the burgeoning crisis, has initiated national health programs aimed at early detection, prevention, and management of the disease.
One of the most significant Indian diabetes market trends is the increased demand for continuous glucose monitoring systems (CGMs) and wearable insulin devices. These provide real-time sugar level monitoring, helping in better diabetes management. Moreover, the growing preference for telemedicine and online consultation platforms, especially in the pandemic’s wake, has also been a prominent trend. This aids in frequent doctor-patient interaction, ensuring regular monitoring and timely intervention. Another noteworthy trend includes the rise of holistic and integrative approaches combining allopathic medications with alternative therapies like Ayurveda and Yoga.
A comprehensive Indian diabetes market analysis unveils a few core areas of growth. The pharmaceutical sector, for instance, is witnessing a surge in demand for newer classes of drugs such as SGLT2 inhibitors and GLP-1 agonists. The market for insulin pens and pumps is also on the rise, as these devices promise more convenient and accurate insulin delivery. Furthermore, there is an increased demand for diabetic-friendly foods and dietary supplements, aiding patients in maintaining a balanced diet without compromising on taste and nutrition.
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Indian Diabetes Market Segmentation
The market can be divided based on segment.
Market Breakup by Segment
- Indian Oral Antidiabetics
- Indian Insulin Market
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