South Africa Diabetes Drugs Market Insights Forecasts to 2033

• The South Africa Diabetes Drugs Market Size was valued at USD 332.82 Million in 2023.
• The Market Size is Growing at a CAGR of 2.37% from 2023 to 2033
• The South Africa Diabetes Drugs Market Size is Expected to Reach USD 420.72 Million by 2033

The South Africa Diabetes Drugs Market Size is Anticipated to Reach USD 420.72 Million by 2033, Growing at a CAGR of 2.37% from 2023 to 2033.

Market Overview

Diabetes is a chronic disease in which the body is unable to produce or use sufficient insulin, resulting in blood sugar levels. The medications that help to maintain the glucose level in the blood are known as diabetes medications or antidiabetic drugs. They can’t cure diabetes disease properly but help to manage and minimize the risk of complications. There are two main types of diabetes; type-1 and type-2. Type-1 diabetes condition includes an autoimmune condition, in which immune cells attack the insulin-producing cells that is beta cells whereas in type-2 diabetes, enough insulin is not produced by the cells to manage blood glucose levels. As the diabetic population grows, and adoption rates rise in emerging regions, the diabetic drug market could become more robust. An increase in obesity, consumption of unhealthy fast food, and sedentary lifestyle adoption has been predicted to increase the incidence of diabetes. The increasing adoption of the product for the treatment of diabetes, and the various government initiatives drive the South Africa diabetes drug market.  For instance, the 2023 Diabetes Summit was arranged by the South African Diabetes Alliance in collaboration with the University of Pretoria Diabetes Research Centre. Stakeholders gathered at the summit to discuss issues and offer solutions for enhancing diabetes care.

Report Coverage

This research report categorizes the market for South Africa diabetes drugs based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Africa diabetes drugs market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Africa diabetes drugs market.

Driving Factors

The high cost of standard diabetic treatment choices leads to the patients finding alternative dosage forms. This has increased the generic medications of different diabetic medications, including insulin, as well as an increase in demand for new innovative drugs that regulate blood sugar levels. These factors are expected to grow the market. Consuming too much sugar leads to the risk of diabetes. Various innovations and improvements in diabetes diagnosis technologies, such as portable glucometers, are driving the market. A glucometer is a small device used to measure the concentration of sugar level in the blood. These continuous glucose monitoring (CGM) devices help diabetic patients to monitor their blood glucose levels.

Restraining Factors

In South Africa, poor regions lack access to good healthcare services. Residents who already have the sickness find it difficult to get treated because there aren’t professional medical staff available. In South Africa, millions of people are unaware of the diabetes conditions. Diabetes drugs are costly, particularly for people who need to use insulin.

Market Segmentation

The South Africa diabetes drugs market share is classified into drug class, diabetes type, and route of administration.

• The GLP-1 receptor agonists segment is expected to hold the largest market share through the forecast period.

The South Africa diabetes drugs market is segmented by drug class into insulin, DPP-4 inhibitors, SGLT2 inhibitors, GLP-1 receptor agonists, and others. Among these, the GLP-1 receptor agonists segment is expected to hold the largest market share through the forecast period. This is attributed to the growing demand for novel drugs across the nation due to their high potential advantages such as increased glycemic efficacy and enhanced safety. Compared to traditional drugs novel drugs are more beneficial, thus the demand for novel drugs due to their potential advantages such as enhanced safety and high glycaemic efficacy is increased.

• The type-2 diabetes segment is expected to dominate the South Africa diabetes drugs market during the forecast period.       

Based on the diabetes type, the South Africa diabetes drugs market is divided into type-1 and type-2 diabetes. Among these, the type-2 diabetes segment holds the largest share in South Africa diabetes drugs market during the forecast period. This is attributed to the growing prevalence of type-2 diabetes and the growing number of clinical trials and research for treatment propelled the market.

• The subcutaneous segment is expected to dominate the South Africa diabetes drugs market during the forecast period.       

Based on the route of administration, the South Africa diabetes drugs market is divided into oral, subcutaneous, and intravenous. Among these, the subcutaneous segment is predicted to dominate the South Africa diabetes drugs market during the forecast period. As the consumption of subcutaneous insulin injections for treating type-2 diabetes is increasing, there will be growth in this segment. This is attributed to an increase in biosimilar and generic equivalent insulin drugs in the developing countries the market will drive throughout the forecast period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Africa diabetes drugs market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Clicks Group (ZAF)     
• Ascendis Health (ZAF)     
• Fend Pharmaceuticals (ZAF)     
• Biovac (ZAF)                  
• iNova Pharmaceuticals (ZAF)         
• Eli Lilly                
• GlaxoSmithKline            
• Johnson Johnson   
• Merck     
• Novartis            
• Novo Nordisk      
• Sanofi
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, Novo Nordisk announced a new cooperation to develop human insulin production in South Africa, as part of a broader commitment to providing life-saving treatment to diabetics across Africa.

• In September 2023, Aspen of South Africa and Novo Nordisk, a Danish pharmaceutical company, have teamed up to produce human insulin, especially for African diabetics. The goal of this partnership is to address the region's urgent need for insulin that can save lives.

Market Segment

This study forecasts revenue at South Africa, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the South Africa diabetes drugs market based on the below-mentioned segments:

South Africa Diabetes Drugs Market, By Drug Class

• Insulin
• DPP-4 inhibitors
• SGLT2 inhibitors
• GLP-1 receptor agonists
• Others

South Africa Diabetes Drugs Market, By Diabetes Type

• Type-1 Diabetes
• Type-2 Diabetes

South Africa Diabetes Drugs Market, By Route of Administration

• Oral
• Subcutaneous
• Intravenous