Type 2 diabetes is one of the greatest health challenges of our times. The disease is not limited to the West, but impacts every corner of the world, contributing to millions of deaths annually. And concerningly, the number of cases is climbing.
The International Diabetes Federation (IDF) recorded that over 483 million people had type 2 diabetes in 2021. The IDF estimates that this figure will rise to 578.4 million by 2030, and again to 700.2 million by 2045, at a projected growth of 51%.
There’s currently no cure for diabetes. Sufferers are encouraged to lose weight, change their diets, and increase their activity to help manage their condition. Lifestyle changes come hand in hand with insulin therapy, which typically involves daily injections. It’s a pathway diabetics have been treading for decades, until recently. Now, a new generation of drugs is emerging, offering innovative methods of treating diabetes.
A wave of new drugs approvals
In recent years, there’s been a notable rise in the number of therapy and drug approvals for type 2 diabetes. New treatment options are emerging, which leaves doctors and patients optimistic for more favorable outcomes.
In 2021, the FDA approved Eli Lilly’s Mounjaro, a once-weekly injection of tirzepatide for the treatment of adults with type 2 diabetes. Mounjaro works by targeting two hormones instead of one, both GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1). This makes it the first and only approved drug of its kind.
Eli Lilly initially released the drug with a $25 per month savings program. Mounjaro swiftly went viral due to its side effect of appetite suppression; Patients reported life-changing amounts of weight loss in a matter of months. But the drug’s wild popularity led to supply shortages, denying many diabetics access to the medication.
Despite the press snowstorm that followed, what Mounjaro really represents is a new generation of drugs set to revolutionize diabetic treatments and, incidentally, the obesity epidemic. As reported in the Independent, Geoff Meacham, analyst from the Bank of America said: “We’re modeling for 2024 worldwide sales of $4.7 billion.”
The next wave of treatments is advancing rapidly. Big pharma companies are funneling investments into their diabetes portfolios, pursuing both monotherapy and combination approaches. In 2019, the FDA approved the first oral GLP-1 treatment for type 2 diabetes.
The new wave of treatments is not concerned solely with glucose control, but also seeks to offer patients cardiovascular and kidney benefits. More novel pharmaceuticals based on advanced mechanisms of action are expected to be approved in the near future, leading to significant growth in the market. Standing at $52.6 billion in 2021, BCC Research predicts the global market for type 2 diabetes treatment will reach $77.2 billion by 2027.
