New York, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The Glucose Management Supplement revenues were estimated at US$ 9.1 Billion in 2022 and are anticipated to grow at a CAGR of 6.1% from 2023 to 2033, according to a recently published Persistence Market Research report. By the end of 2033, the Glucose Management Supplements Market is expected to reach US$ 17 Billion. Glucose Management Supplement in tablets form is projected to account for a significant share, with a projected CAGR of 5.6% from 2023 to 2033.
The significant rise in the demand for Glucose Management Supplements is due to the rise in the number of people suffering from high blood glucose-related disorders such as diabetes and prediabetes. The root cause of diabetes is the inability of the body to produce enough insulin to keep the blood sugar in check.
Diabetes is one of the most common chronic illnesses and according to the international diabetes federation, approximately 531 million adults worldwide were diagnosed with diabetes and around 6 million deaths worldwide can be attributed to diabetes. Moreover, around 540 million adults are suffering from impaired glucose tolerance, which makes them highly susceptible to developing type 2 diabetes. Therefore managing the blood glucose level becomes significantly important for people.
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Along with the rise in cases of diabetes, the rise in awareness for living healthy has also caused a surge in demand for glucose management supplements. The market is projected to expand significantly during the assessment period.
North America is one of the prominent markets for Glucose Management Supplements. North America had a Glucose Management Supplement Market size of US$ 3.6 Billion in 2022 and it has US$ 3.7 Billion by 2023.
Based on the data from the International Diabetes Federation, nearly one in four adults living in North America having diabetes remains undiagnosed. In 2021, diabetes caused nearly 930,000 deaths in the region, while approximately US$ 400 Billion was spent on the treatment and medication of diabetes in the region.
Competitive Landscape
The players in the market are mostly involved in partnerships, acquisitions, and FDA approvals. The key players in the market include
- NOW Foods
- Life Extension
- GNC
- Natrol
- Nature Made
- Nature's Bounty
- Zenith Labs
- Blackmores
- Pure Encapsulations
- Doctor's Best
- Best Naturals
- Thorne
- Solgar
- Nutricost
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Some of the recent developments in the glucose management supplements market are:
- In February 2020, Valbiotis announced its strategic partnership with Nestle Health for the development and commercialization of TOTEM – 63 a plant-derived active substance with clinically demonstrated health benefits on prediabetes.
- In September 2019, Novo Nordisk got FDA approval for its GLP–1 (glucagon Like peptide) supplement for the treatment of Type 2 diabetes.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the glucose management supplement market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in the glucose management supplement
- By Form (Tablet, Soft gels, Capsule)
- By Type( Alpha Lipoic Acid, Minerals, Vitamins, Others)
- By Sales Channel ( Online Sales, Retail Sales)
- By Region ( North America, Latin America, Europe, Asia Pacific, Middle East and Africa)
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