PHILIPPINES DIABETES CARE DRUGS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Philippines Diabetes Care Drugs Market Analysis:

The estimated size of the Philippines Diabetes Care Drugs Market is USD 254.32 million in 2023, with an expected growth to USD 307.94 million by 2028, at a CAGR of 3.90% during the forecast period (2023–2028).

COVID-19 is a novel illness caused by the SARS-CoV-2 virus strain. While most individuals infected with the virus will experience mild to moderate respiratory illness and recover without special treatment, the elderly and those with underlying medical conditions such as diabetes, hypertension, heart disease, lung disease, obesity, and cancer are at a higher risk of developing severe diseases. The virus infiltrates various cells in the body, including the heart and lungs, causing inflammatory changes that lead to inflammation and multi-organ damage. Diabetes and systemic inflammation have been linked, with studies showing that diabetes patients exhibit higher virus entry, decreased immune response, less viral clearance, and dysregulated inflammatory markers.

Diabetes patients may be at the same risk of contracting COVID-19 as those without diabetes. However, individuals with diabetes have a higher risk of hospitalization, ICU admissions, severe sequelae, and mortality after contracting COVID-19 due to the disease’s essential features.

In terms of medications, the insulin category commands a significant market share. Over 100 million people worldwide use insulin, including all individuals with Type 1 diabetes and 10% to 25% of those with Type 2 diabetes. Insulin production is highly sophisticated, and only a few insulin manufacturers are on the market. As a result, there is fierce competition among these producers, who continually strive to meet patients’ demands by providing the highest-quality insulin.

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