The global SGLT2 inhibitors market size is anticipated to reach USD 29.43 billion by 2030 and is expected to expand at a CAGR of 7.71% during the forecast period, according to a new report by Grand View Research, Inc. The recommendations and supportive guidelines from major health organizations, such as the American Diabetes Association (ADA), the European Association of for the Study of Diabetes (EASD), the European Society of Cardiology (ESC), and others have endorsed sodium-glucose cotransporter-2 (SGLT2) inhibitors for them beyond glucose control. For instance, in August 2023, the European Society of Cardiology (ESC) has issued a focused update to their heart failure guidelines, integrating findings from nearly a dozen new clinical trials since 2021, such as EMPEROR-Preserved, DELIVER, STRONG-HF, and IRONMAN. Released at the ESC Congress 2023, the updated guidelines introduce new recommendations for the use of SGLT2 inhibitors in treating patients with heart failure with mildly reduced ejection fraction (HFmrEF).
In addition, the growing number of patients needing dialysis over the next few years showcased high demand of medicines such as SGLT2 inhibitors for treatment of CKD patients. In November 2023, the National Institute for Health and Care Excellence (NICE) has issued draft guidance recommending the use of empagliflozin, an SGLT2 inhibitor, for patients with chronic kidney disease (CKD). Empagliflozin has demonstrated efficacy in slowing the progression to kidney failure and reducing the risk of heart attacks and strokes. NICE recommends making this treatment available to patients across all stages of CKD. Such recommendations from drug regulatory agencies are expected to boost demand for drugs during the forecast period.
The elder adults are more prone to type 2 diabetes and heart failure, conditions where drugs have shown substantial benefits. This demographic shift increases the demand for effective treatments such as SGLT2 inhibitors. SGLT2 inhibitors are beneficial in reducing cardiovascular and renal risks, which are particularly prevalent in the elderly. This advantage makes these medications a preferred choice for older patients. According to the World Health Organization (WHO), in 2022, around 1.4 billion people were aged 60 years and over, which was raised from 1 billion in 2020. In addition, WHO estimates that the elderly population is expected to reach 2.1 billion. Thus, rising geriatric population is expected to boost demand for SGLT2 inhibitors worldwide and drive market growth.
Increasing awareness of diabetes and significance of SGLT2 inhibitors in treatment among both patients and healthcare providers contribute to higher prescription rates. For instance, in 2021, the WHO launched initiative “Global Diabetes Compact” to raise awareness and improve patient access to diabetic medicine including SGLT2 inhibitors and insulin. Such initiatives are expected to boost adoption of SGLT2 inhibitors and open new opportunities in the market over the forecast period.
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SGLT2 Inhibitors Market Report Highlights
- Jardiance (empagliflozin) segment dominated the market in 2023 and is anticipated to grow significantly over the forecast period. This growth is attributed due to increasing prevalence of diabetes, CKD, and cardiovascular conditions and high drug demand for treatment
- Type 2 diabetes segment dominated the market in 2023. This dominance is attributed due to rising incidence of diabetes, increasing geriatric population, and increased prescription rate of drug
- Hospital pharmacies segment dominated the market in 2023. This dominance is attributed due to increasing number hospitalization of diabetes, CKD, and heart failure patients for diagnosis and treatment
- North America dominated the market owing to factors such as advanced healthcare infrastructure, rising prevalence of target diseases, and favorable regulatory environment
SGLT2 Inhibitors Market Segmentation
Grand View Research has segmented the global SGLT2 inhibitors market on the basis of drug, indication, distribution channel, and region.
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Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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