Korea’s diabetes medications market expands amid rising number of patients

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South Korea has seen a sharp rise in the number of patients with diabetes due to an increase in the obesity population, rapid aging and daily stress, with two out of five people having the chronic disease or belonging to the risk group.

According to a report released by the Korean Diabetes Association on Monday, one out of every six Koreans aged 30 and above has diabetes as of 2020, or 5.6 million in total. The association expects the number of patients in the age group has surpassed 6 million in 2021.

The number of diabetes patients is estimated to be much higher when including younger people. The report also showed that the population at the pre-diabetes stage has exceeded 15 million. Diabetes is caused by various elements, such as the environment and genetic factors.

“Obesity is the biggest reason for the sharp increase in the number of diabetes patients,” said Park Jong-sook, a professor of endocrinology at Gangnam Severance Hospital. “Obesity is caused by changes in dietary culture and lifestyle habits.”

Park also noted that people live longer now and develop diabetes symptoms in their later years.

The market for related treatments, in the meantime, is expanding in line with the increase in diabetes patients. Medications involve a combination therapy that brings multiple effects.

For example, patients that take medication to stimulate insulin secretion to break down high blood sugar levels may experience hypoglycemia due to excessive insulin secretion. A combination therapy involves administering drugs that facilitate appropriate insulin absorption to reduce side effects.

It is generally seen that a combination therapy is more effective than monotherapy for progressive diseases such as diabetes.

The health authority has expanded the coverage of combination therapy under the national health insurance, reducing the burden on patients. The Ministry of Health and Welfare recently announced revised standards for the coverage of diabetes medications. Under the new standards, seven therapy options, including two insulin therapies, have been added to the coverage.

Experts are urging people to take advantage of the coverage expansion and look after their health from the early stage.

“If diabetes is left untreated, it can have serious side effects that affect vision and peripheral blood vessels,” said an industry expert who asked to be unnamed.

The diabetes treatment market is expanding in response to the increasing number of patients.

According to pharmaceutical market research firm UBIST, the domestic market of diabetes medications reached 1.5 trillion won ($1.2 billion) last year, showing an annual average growth of 8 percent over the past five years.

“The diabetes medication market has shown steady growth due to the increasing number of patients,” said another industry official. “The market is heating up with the expansion of combination therapy and the expiration of patients for popular products.”

Diabetes is diagnosed when fasting blood glucose level is 126 milligrams per deciliter (mg/dl) or higher, or when the glycated hemoglobin level is above 6.5 percent. The pre-diabetes stage involves 100~125 mg/dl fasting blood glucose level or 5.7~6.4 percent glycated hemoglobin level.

There are two types of diabetes. The first type is a condition where insulin production is difficult, making it challenging to regulate blood sugar levels. The second type is a condition where insulin does not function properly, leading to high blood sugar levels.

Diabetes patients experience increased urine output and they feel more thirsty and hungry. They may also see a weight loss. Diabetes can lead to complications such as myocardial infarction, stroke, kidney failure, and retinopathy.