Diabetic pharmaceuticals are medications that help persons with diabetes stabilise and manage their blood glucose levels. Diabetic medications have been identified as prospective treatment options for diabetic patients infected with SARS-CoV-2. Diabetes mellitus type 1 and type 2 can be treated using diabetes medicines that lower the body's blood glucose levels. Type 2 diabetes, also known as non-insulin-dependent or adult-onset diabetes, is a condition in which the body uses insulin inefficiently. Type 2 diabetes is mostly caused by obesity and a lack of physical activity. The substantial increase in the number of type 2 diabetes is mostly due to the country's rising obesity rates and unhealthy lifestyles characterised by poor diet and insufficient physical activity.
France Diabetes Drugs and Devices Market Driving Factors and Challenges
Drivers: Economic growth, inflation, interest rates, and currency exchange rates all have a substantial impact on the Diabetes Care Devices & Drugs industry. Strong economic conditions frequently result in greater demand, but economic downturns can reduce demand. Furthermore, technological innovations have the potential to disrupt established Diabetes Care Devices & Drugs markets, offer new opportunities, and shift customer behaviour. Keeping up with technology changes is critical for businesses to stay competitive. Additionally, government laws and policies can have a significant impact on the Diabetes Care Devices & Drugs industry. Changes in legislation governing production, commerce, safety standards, and environmental policies can have an impact on market dynamics and business operations.
Challenges: The high cost of diabetes treatment may hamper market growth.
Because of the high prevalence of diabetes, there is an increasing global demand for effective treatment choices. Similarly, the patient population's adoption of therapies to treat diabetes has expanded, with over 60 FDA drugs being available in the global market. Furthermore, approximately 100 medication candidates are being tested in clinical trials for diabetes management around the world. However, despite the fact that several drugs have been approved for the treatment and that various initiatives are being implemented by governments and industry players, the economic burden of diabetes treatment and the high cost of advanced diabetes drugs continue to pose significant challenges to market growth.
Impact of COVID-19 on France Diabetes Drugs and Devices Market
The COVID-19 pandemic had a significant impact on France Diabetes Drugs and Devices Market. Government lockdown measures implemented around the world limited the amount of patient visits to healthcare institutions such as hospitals and pathology labs for disease diagnosis and treatment. However, the COVID-19 recovery in 2021 resulted in increased patient hospital visits and a rise in the number of diabetes diagnoses, driving up demand for these medications in the population. Thus, the increase in hospital visits following the pandemic, as well as the growing focus of leading competitors on the development of new medications for diabetes treatment, drove market growth in 2021.
France Diabetes Drugs and Devices Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Novo Nordisk, Sanofi, Eli Lilly, Biocon, Medtronic, Ypsomed, Becton Dickinson. and Others.
France Diabetes Drugs and Devices Market Segmentation:
By Drug: Based on the Drug, France Diabetes Drugs and Devices Market is segmented as; Basal or Long-acting Insulins, Bolus or Fast-acting Insulins, Traditional Human Insulins, Combination Insulins, Biosimilar Insulin.
By Device: Based on the Device, France Diabetes Drugs and Devices Market is segmented as; Insulin Pumps, Insulin Pens, Insulin Syringes, Insulin Jet Injectors.
By Region: This research includes data for Eastern, Western, Northern, Southern.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.