BCC Research’s latest report breaks down the global market for type 2 diabetes, considering the rise in advance novel treatments. Download your complimentary report overview or purchase the report in full.
Innovative drugs come at a cost. Diabetes drugs that use advanced mechanisms of action (like GLP-1 therapy and SGLT2 inhibitors) carry hefty price tags. R&D for these drugs is extensive and expensive. Advanced technologies are involved in their development, and the required manufacturing processes are also costly. Factors like these contributed to the $1,000 per month wallet hit associated with drugs like Mounjaro.
But in terms of the market, the premium pricing of innovative drugs is driving more companies to commercialize these products. Pharmaceutical and biotech companies alike are becoming involved in the development of next-generation diabetes drugs in a bid to reap the commercial benefits. With global governments driving stricter control of drug prices and promoting the penetration of generics, pharmaceutical and biotechnology companies are shifting focus toward the uptake of highly innovative and differentiated specialty medicines.
On the other side of the coin, diabetes treatment is increasingly being integrated with digital health, granting patients more personalized and immediate healthcare. Now, patients need only switch on their smartphone to gain access to an array of metrics in helping manage their diabetes. Demand for smart insulin drug delivery technologies is skyrocketing, as the devices offer better precision and better outcomes for insulin-dependent patients.
Sanofi, in collaboration with Abbott and Biocorp, Health2Sync and Roche, is building a connected set of digital tools to support diabetics. Sanofi aims to use aggregated de-identified data to generate insights to inform patients and providers, as well as to evaluate additional clinical or quality-of-life outcomes. Similar tools have been launched in several countries to success, demonstrating the value of a fully connected, digital healthcare ecosystem.
The landscape for type 2 diabetes treatment is changing. As more people gain diagnoses, more innovative methods of treatment are required. These next-generation drugs are hoped to help diabetics better manage their condition, and lead to improved outcomes across the board.
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