Dubai, UAE, Sept. 05, 2023 (GLOBE NEWSWIRE) -- According to the recent report published by Extrapolate, the Global Diabetes Supplements Market valuation is projected to reach USD 29.16 billion in 2030 from USD 14.12 billion in 2022, exhibiting a CAGR of 9.49% during the forecast period. A key driver fueling this growth is the public's increasing knowledge of the value of supplements in lowering diabetes risk.
Diabetes prevalence is rising alarmingly fast all over the world. This is caused by an increase in the consumption of unhealthy foods, a sedentary lifestyle, surging cases of obesity, and a rise in the prevalence of cardiovascular illnesses, autoimmune disorders, and cholesterol. All of these factors are propelling the demand for diabetes supplements.
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Competitive Landscape
Leading businesses in the diabetes supplements market are implementing a variety of strategies to strengthen their position in the global market and expand their geographic reach. These strategies cover a range of actions, including allocating funds to research and development (R&D) projects, mergers and acquisitions, the launch of innovative goods, strategic alliances and collaborations, and the improvement of current products through upgrades. For instance, Novo Nordisk introduced the diabetes medication semaglutide for the treatment of type 2 diabetes in India in January 2022.
Major participants in the global diabetes supplements market include:
- Abbott
- AKSUVITAL Natural Products Food Co.
- Arkopharma
- Bionova
- Nestlé
- Caelus Health
- Danone
- Novo Nordisk A/S
- Pfizer Inc.
- Unilever
- CuraLife Global
- Amway
- Johnson & Johnson Services, Inc.
- Glucose Health, Inc.
- Hexagonnutrition Ltd.
- La Grande P. Ltd.
- Lysulin, Inc.
- Nature's Sunshine Products, Inc.
- Olive Healthcare
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Market Segmentation
By Type
- Vitamins
- Minerals
- Herbal
- Proteins
- Antioxidant & Fatty Acids
- Dietary Fibers
- Others
Enhanced Glucose Absorption for Effective Diabetes Management to Support Product Sales
The vitamins segment is anticipated to lead the global diabetes supplements market over the review timeline backed by the capacity of vitamins to enhance the cellular absorption of glucose in the bloodstream, making it a crucial component in supplements for diabetes management. Vitamin supplements, available as multivitamin tablets, powders, and liquids, are gaining popularity among individuals who are either prediabetic or already have diabetes.
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online
- Others
Increasing Consumer Preference for Diabetes Supplements to Foster Market Outlook
The hospital pharmacies segment is estimated to hold the lion's share in the global market for diabetic supplements by the end of 2030 due to their widespread availability and high consumer demand. However, the internet sector is set to observe the fastest growth in the coming years owing to the rising prevalence of e-commerce platforms.
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Rising Favorable Governmental Initiatives to Promote Diabetes Supplements Market Growth
Government measures to assist the market for diabetes supplements are growing, and there has been significant investment in the healthcare sector to provide cutting-edge therapies. For instance, to commemorate World Diabetes Day in November 2021, the Australian Government unveiled a new 10-year strategy to assist Australians suffering from all types of diabetes.
Moreover, the global diabetes supplements market is projected to expand as chronic disease cases increase. According to the PLOS journal, in Australia, 83% of women aged over 65 and 43% of women aged under 45 reported having a chronic illness. Thus, the rising incidence of chronic diseases such as diabetes over consecutive generations is another factor bolstering market development.
Expanding Geriatric Population in North America to Augment Market Progress
North America is foreseen to dominate the global market for diabetes supplements through the review timeline. The regional growth is attributable to the rising elderly population, improvements in the pharmaceutical industry, and an increase in the number of diabetic people. Moreover, surging investments in R&D activities for diabetic supplements are slated to bolster industry growth.
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High Prevalence of Customized Nutrition in APAC to Facilitate Industry Development
The Asia Pacific diabetes supplements market is expected to experience the highest growth rate throughout the projected period. This is due to rising health consciousness among consumers, which is driving them to adopt health-improving supplement products. The need for dietary supplements in China and India is quickly expanding due to the rising interest in customized nutrition.
The high population density is also predicted to increase the interest of major global market players in expanding their manufacturing facilities and product lines throughout Asian and Southeast Asian nations, including South Korea, Malaysia, India, China, and others.
Table of Content
Chapter 1 Introduction of the Global Diabetes Supplements Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Diabetes Supplements Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Diabetes Supplements Market, By Disease Type
6.1 Overview
6.2 Type-1
6.3 Type-2
Chapter 7 Global Diabetes Supplements Market, By Type
7.1 Overview
7.2 Vitamins
7.3 Minerals
7.4 Herbal
7.5 Proteins
7.6 Antioxidant & Fatty Acids
7.7 Dietary Fibers
7.8 Others
Chapter 8 Global Diabetes Supplements Market, By Dosage Form
8.1 Overview
8.2 Tablets
8.3 Solution
8.4 Powder
8.5 Others
Chapter 9 Global Diabetes Supplements Market, By Distribution Channel
9.1 Overview
9.2 Hospital Pharmacies
9.3 Retail Pharmacies
9.4 Online
9.5 Others
Chapter 10 Global Diabetes Supplements Market, By Geography
...
Chapter 16 Global Diabetes Supplements Market Competitive Landscape
16.1 Overview
16.2 Key Developments
16.3 Key Strategic Developments
16.4 Company Market Ranking
16.5 Regional Footprint
16.6 Industry Footprint
Chapter 17 Company Profiles
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