Diabetes is probably the term we have all heard at least once in our lifetime, either from a family member suffering from it or a friend, it’s spread all over the world. Rarer do we come to recognize the real culprit behind it is often humans.
The diabetes supplement industry could be an invasive revenue-generating sector. Blood sugar levels can be controlled with the help of diabetic supplements. Enhancing the cell’s capacity to utilize excess glucose, increasing energy levels, quickens the aging process, enhances muscular development, stimulates insulin production, and inhibits unnatural weight loss. There are currently anti-diabetic supplements on the market, including those containing alpha-lipoic acid, chromium, cinnamon, fenugreek, probiotics, B vitamins, and vitamin D.
According to the World Health Organization, approximately 10.5 percent of the global adult population suffers from diabetes. By 2045, this percentage is anticipated to reach above 16 percent.
Let’s dig deeper into the diabetes supplements industry.
What are Diabetes Supplements?
Diabetes supplements are an oral form of CAM that are intended to assist persons with diabetes in controlling their blood sugar levels. Chromium, magnesium, alpha-lipoic acid, vitamin D, zinc, and folate are typical diabetes supplements. To help manage diabetes, other supplements such as vitamin B-12, metformin, and medications that lower stomach acid may also be utilized. Before using any supplements for diabetes, it’s crucial to talk to a doctor because some of them could interfere with other prescriptions or have unwanted side effects.
What Kicks the Diabetes Supplements Market to Propel?
Many reasons are driving the global diabetes supplements market further. The global market for diabetic supplements is anticipated to increase with the rising cases of chronic diseases. In Australia, according to the PLOS journal, 83% of women over 65 and 43% of women under 45 reported having a chronic illness. So, the demand is rising as chronic diseases like diabetes become more commonplace over time. According to the WHO, type-2 diabetes is most prevalent among the elderly population.
Growing government initiatives to boost the market for diabetes supplements as well as significant investments in the healthcare sector to provide cutting-edge therapies For instance, the Australian Government announced a new 10-year strategy to support Australians with all forms of diabetes in November 2021 to commemorate World Diabetes Day.
Furthermore, the growing concerns and advertisements by celebrities create a rising demand for diabetes supplements. For instance, Lou Brock, a former Major League Baseball player, advocated Novo Nordisk’s unbranded diabetes marketing. Lou Brock, a brand ambassador for the business, frequently speaks to individuals with diabetes about the significance of diabetes management. As part of the promotion of Novo Nordisk’s diabetes products, he often addresses the media and makes appearances in print and television commercials.
People are becoming more aware of their physical health and fitness as a result of the looming epidemic. This leads to a strong demand for diabetes treatment and prevention. The aforementioned elements are anticipated to fuel the global market for diabetic supplements.
Chromium, milk thistle, purslane, gymnema sylvestre, bitter melon, fenugreek, and cinnamon are a few diabetes remedies that could be useful for controlling blood sugar levels.
Death by Sugar: A Regional Analysis
According to WHO, diabetes is the seventh leading cause of death in North America, approximately accounting for 3.2% of deaths.
Diabetes is the sixth most common cause of death in Canada and accounts for over 12,200 fatalities per year. Due to the rising elderly population, improvements in the pharmaceutical industry, and a rise in the number of diabetic people, the North American region is anticipated to have a dominant market share of the global market for diabetes supplements. The market is expanding as a result of escalating R&D expenditures on diabetic supplements. Participants in the North American market are concentrating on a number of strategies to strengthen their market position. For instance, the National Diabetes Prevention Programme was launched in 2010 in an effort to combat the rising prevalence of prediabetes and type 2 diabetes in the country.
But this doesn’t mean only North America is getting affected.
The Asia Pacific region is also anticipated to experience the greatest growth rate throughout the projection period of the global market for diabetic supplements due to consumers’ increased health consciousness, which is encouraging them to use health-improving supplement products on a regular basis. In the region’s most populous nations, like China and India, the need for dietary supplements is quickly expanding.
Sales of diabetes supplements are anticipated to increase in the area as more individuals get familiar with the idea of a customized diet. 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.
Conclusion
The global diabetes supplements market is projected to grow USD 854.7 Mn in 2030 previously from a valuation of USD 571.1 Mn in 2021, thus recording a CAGR of 5.5%. The diabetes supplements is gaining increasing traction as key companies are implementing various strategies to gain market share.