TYPE 2 DIABETES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America dominates the global type 2 diabetes market currently and is anticipated to hold 44.6% of the market share in 2024. The U.S. accounts for the largest share primarily due to the increasing prevalence of obesity and sedentary lifestyles among the population. There is high consumption of convenience food items rich in sugar and fat content coupled with lack of physical activity which has significantly contributed to the rise in diabetes cases over the years. Additionally, this region has a well-established healthcare system and people have higher access to advanced medical technologies for effective management of diabetes. Several leading pharmaceutical companies have their headquarters in the U.S. and invested heavily in developing innovative drugs for blood sugar control and related comorbidities treatment.

The Asia Pacific region has emerged as the fastest growing market for type 2 diabetes globally. China and India alone account for a major diabetic population worldwide owing to their large population size and changing demographic trends towards unhealthy diet and lifestyle in recent times. Rising healthcare expenditure, improving access to diagnosis and medications are driving the market in Asia Pacific countries. Many local pharmaceutical manufacturers in China and India are actively engaged in producing affordable generic drugs to cater to the massive diabetic population in this region. Additionally, favorable regulatory environment and guidelines by governments in Asia Pacific countries to curb the burden of non-communicable diseases including diabetes augur well for the future market prospects.