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

The global type 2 diabetes market is estimated to be valued at USD 39.87 BN in 2024 and is expected to exhibit a CAGR of 7.7% during the forecast period (2024-2031). Type 2 diabetes is a chronic metabolic disease characterized by high blood sugar levels due to insulin resistance or relative lack of insulin. It is the most common form of diabetes accounting for over 90% of all diagnosed cases of diabetes worldwide. The disease is a major global public health concern due to its rising prevalence driven by increasing obesity levels as well as aging populations across both developed and developing countries. The market size for type 2 diabetes management and treatment is vast and growing steadily. Current therapeutic options aim to lower blood sugar levels by increasing the body’s sensitivity to insulin, reducing glucose production in the liver, delaying glucose absorption from the intestine, or increasing insulin secretion from the remaining functioning beta cells.

Market Dynamics:

The global type 2 diabetes market is primarily driven by the increasing prevalence of obesity and low physical activity levels especially among urban populations leading to the rising incidence of type 2 diabetes. According to an article published by the Centers for Disease Control and Prevention in April 2023, about 38 million individuals in the U.S. are affected by diabetes, representing roughly one out of every 10 people. Approximately 90-95% of these cases are classified as type 2 diabetes. While type 2 diabetes traditionally manifests in individuals aged 45 and older, there is a growing trend of its occurrence among children, teenagers, and young adults. Increased research efforts to develop more effective medications with fewer side effects also present significant growth opportunities. However, high costs associated with diabetes care and management inhibits broader access to treatment in low and middle-income countries. Stringent regulations and long drug approval timelines also pose challenges.

Key Features of the Study:

• This report provides an in-depth analysis of the global type 2 diabetes market, and provides market size (USD BN) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global type 2 diabetes market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Novo Nordisk, Sanofi, Eli Lilly and Company, Merck & Co., Inc., Boehringer Ingelheim, AstraZeneca PLC, Takeda Pharmaceutical Company Limited, Novartis AG, GlaxoSmithKline plc, Pfizer Inc., Daiichi Sankyo Company, Limited, Abbott Laboratories, Roche Holding AG, Sun Pharmaceutical Industries Ltd., Lupin Limited, Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, and Torrent Pharmaceuticals Limited
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global type 2 diabetes market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global type 2 diabetes market

Market Segmentation

• By Drug Class:
• • Dipeptidyl Peptidase-4 Inhibitors
  • Glucagon-like peptide 1 receptor agonists
  • Biguanides 
  • Sodium-glucose cotransporter 2 (SGLT2) inhibitors
  • Others
• By Route of Administration:
• • Oral
  • Parenteral
• By End User:
• • Homecare Settings
  • Hospitals & Clinics
  • Academic & Research Institutes
  • Others
• By Distribution Channel:
• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
  • Novo Nordisk
  • Sanofi
  • Eli Lilly and Company
  • Merck & Co., Inc.
  • Boehringer Ingelheim
  • AstraZeneca PLC
  • Takeda Pharmaceutical Company Limited
  • Novartis AG
  • GlaxoSmithKline plc
  • Pfizer Inc.
  • Daiichi Sankyo Company, Limited
  • Abbott Laboratories
  • Roche Holding AG
  • Sun Pharmaceutical Industries Ltd.
  • Lupin Limited
  • Reddy's Laboratories Ltd.
  • Aurobindo Pharma Limited
  • Torrent Pharmaceuticals Limited