Diabetes Supplement Market: Current Analysis and Forecast (2021-2027)

Diabetes Supplement Market: Current Analysis and Forecast (2021-2027)

Global Diabetes Supplements Market is anticipated to grow with an elevated CAGR of around 4% over the forecast period (2021-2027). Diabetes, also known as diabetes mellitus, is a metabolic disorder that causes hyperglycemia. Hormones known as insulin are responsible to move sugar from the blood to cells, where it is stored and used to fuel the body. In the case of diabetes, the body cannot produce enough insulin or use the produced insulin effectively. The two main types of diabetes are type 1 diabetes and type 2 diabetes. In type 1 diabetes, the immune system attacks and destroys insulin-producing cells in the pancreas, but in people with type 2 diabetes, the body becomes resistant to insulin. Dietary supplements are ingredients designed to improve a person's diet and contain vitamins, minerals, herbs, amino acids, metabolites, and other substances. These supplements are used to lower blood sugar levels, improve cholesterol, lower blood pressure, and cause neuropathy, insulin resistance, and other complications in diabetics.

The growing adoption of diabetes supplements can be attributed to the rising prevalence of various cases of diabetes coupled with a rapidly growing geriatric population. According to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice that it was in 1980 at 382 million. The number of elderly is expected to double again by 2050 and reach nearly 2.1 billion worldwide. For instance, as per CDC, 1.6 million adults aged 20 years or older, or 5.7% of all US adults have been diagnosed with diabetes. Thereby, boosting the diabetes supplements market globally.

Furthermore, the diabetes supplements market is anticipated to grow on account of the growing awareness of nutraceuticals, a large number of ongoing research activities in this field, rising government and public-private investments, and various advantages associated with the diabetes supplements such as controlling blood sugar, prevent diabetes-related complications, and reduce resistance to insulin. However, some of the restraints in the market including stringent regulatory framework and a rise in the cost of ingredient development are impeding the growth of this market all over the world. Novo Nordisk, Nestle Health Science, Danone Nutricia, NaturoGain, Nature's Bounty, Glucose Health, Inc, Unilever, Bionova Lifesciences, Caelus Health, and Abbott Laboratories are some of the prominent players operating in the diabetes supplements market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with diabetes supplements.

Insights Presented in the Report
"Amongst Ingredient, vitamins segment holds the major share”

Based on ingredients type, the diabetes supplements equipment market is segmented into vitamins, minerals, proteins, antioxidants and fatty acids, dietary fibers, and others. The vitamins segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe as it is used as a key ingredient in diabetes supplements for its ability to enhance cellular uptake of glucose from the blood. Vitamin supplements are gaining popularity among patients with prediabetes and diabetes and are consumed in the form of multivitamin tablets, powders, and liquids. However, the fiber segment is expected to grow at a significant rate as it helps to lower cholesterol levels, lose weight, and control blood sugar.
"Amongst Disease Type, Type 2 segment holds the major share”

Based on disease type, the diabetes supplement market is bifurcated into type 1 and type 2. The type 2 segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe. Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin it produces. There is an increase in diabetes patients all over the globe. The two main types of diabetes are type 1 diabetes and type 2 diabetes. In type 1 diabetes, the immune system attacks and destroys insulin-producing cells in the pancreas, but in people with type 2 diabetes, the body becomes resistant to insulin Nowadays there are type 2 diabetes is growing in every age. More than 37 million Americans have diabetes (about 1 in 10), and approximately 90-95% of them have type 2 diabetes.
"Amongst Forms, tablets segment holds the major share”

Based on forms, the market is fragmented into tablets, solutions, powder, and others. In 2020, the tablet segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the easy dosage, cost efficiency, higher shelf life compared to others, and higher conveniences. However, solution supplements are liposome products that are evenly dispersed in water and allow for smooth consumption. The liquid form facilitates the formation of blends. Thus, the solution segment is expected to grow in the upcoming years.
"Amongst Distribution Channel, hospital pharmacies segment holds the major share”

Based on distribution channels, the market is fragmented into hospital pharmacies, retail pharmacies, and online pharmacies. In 2020, the retail pharmacies segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the availability of retail pharmacies in every small area or city. However, the online segment is also significantly growing due to internet users, ease of access to several brands, 24/7 availability of products, the convenience of shopping, and a wide range of products offered.
"Amongst End-Users, geriatric segment holds the major share”

Based on end-users, the market is fragmented into adults, geriatric, and children. In 2020, the geriatric segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the surge of the geriatric population and the growth of the diabetes cases as they are prone to these diseases. For instance, as per NCBI, About 40% (39.5%) of the adult diabetic population is age ≥65 years. Approximately 20% (21.4%) of adults aged≥65 years have a known diagnosis of diabetes.
"North America represents one of the largest markets of diabetes supplements market”

For a better understanding of the market dynamics of the diabetes supplements market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the diabetes supplements market industry and generated revenue in 2020 owing to strong healthcare infrastructure and growing adoption of diabetes supplements in the region.

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