Prediabetes Market To Hit USD 360.6 Million By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Prediabetes industry is projected to witness a CAGR of 6.9% during the period 2024-2032. This growth can be attributed to growing focus on preventive healthcare.

Selbyville, Delaware, Nov. 05, 2024 (GLOBE NEWSWIRE) --

Prediabetes market size is estimated to reach USD 360.6 million by the end of 2032. The industry growth is driven by the increasing global prevalence of prediabetes, fueled by factors, such as rising obesity rates, sedentary lifestyles, and poor dietary habits. As per WHO, around 422 million people globally have diabetes.

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As more people lead unhealthy lifestyles, the risk of developing prediabetes has surged, prompting a higher demand for early diagnosis and intervention. The growing awareness about the health risks associated with prediabetes, such as its progression to Type 2 diabetes and cardiovascular diseases has increased the demand for screening, preventive care, and management solutions.

The rise of telemedicine, remote monitoring devices, and personalized medicine has also made it easier for healthcare providers to diagnose and manage prediabetes for enhancing patient outcomes and engagement. The rise in government initiatives promoting public health awareness and preventive care, along with increased healthcare expenditure.

Rising demand for thiazolidinediones

Based on drug class, the prediabetes market size from the thiazolidinediones segment is likely to accelerate at a robust pace between 2024 and 2032. This is due to its proven effectiveness in improving insulin sensitivity and delaying the progression from prediabetes to Type 2 diabetes. These drugs are widely prescribed to manage blood glucose levels, particularly for patients with impaired glucose tolerance. As the prevalence of prediabetes rises, the demand for thiazolidinediones has surged, supported by growing clinical evidence of their long-term benefits.

Online channels to gain traction

In terms of distribution channel, the prediabetes market from the online segment is expected to witness substantial expansion from 2024 to 2032 backed by the need for providing convenient and accessible options for patients to purchase medications, testing kits, and other management tools. With the rise of e-commerce and telehealth platforms, patients can easily obtain products for monitoring and managing prediabetes from the comfort of their homes, particularly in remote or underserved areas. This digital shift also allows more competitive pricing, faster delivery, and a wider selection of products, which encourages more consistent management of prediabetes.

Asia Pacific to emerge as a lucrative market

Asia Pacific prediabetes market is estimated to attain substantial valuation by 2032 driven by rising urbanization, increased obesity rates, and the widespread adoption of sedentary lifestyles across the region. As dietary habits shift towards high-calorie, processed foods, the incidence of prediabetes has surged. Moreover, the growing middle-class population with improved access to healthcare is contributing to higher rates of screening and early diagnosis across APAC.

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Prediabetes Market Participants

Some of the prominent prediabetes industry players include Takeda Pharmaceutical Company Limited, Abbott Laboratories, Pfizer Inc., AstraZeneca PLC, Novo Nordisk A/S, CH Boehringer Sohn AG & Co KG, Novartis AG, Eli Lilly and Company, Merck & Co., Inc., Glenmark Pharmaceuticals Limited, and Johnson & Johnson.

These firms are working on collaborations, acquisitions, and mergers to widen their product portfolio. For instance, in October 2023, Glenmark Pharmaceuticals released its first triple-drug FDC for the treatment of Type 2 mellitus in adults with comorbid conditions.

Partial Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope

1.1 Market scope & definitions

1.2 Research design

1.2.1 Research approach

1.2.2 Data collection methods

1.3 Base estimates & calculations

1.3.1 Base year calculation

1.3.2 Key trends for market estimation

1.4 Forecast model

1.5 Primary research and validation

1.5.1 Primary sources

1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 3600 synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis

3.2 Industry impact forces

3.2.1 Growth drivers

3.2.1.1 Increasing prevalence of prediabetes

3.2.1.2 Growing focus on preventive healthcare

3.2.1.3 Innovations in drug formulations

3.2.2 Industry pitfalls & challenges

3.2.2.1 Limited awareness and screening

3.2.2.2 Stringent regulatory scenario

3.3 Growth potential analysis

3.4 Technological landscape

3.5 Regulatory landscape

3.6 Porter's analysis

3.7 PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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