The Global Type 2 Diabetes Market Report is a compilation of comprehensive research studies of various aspects of the Type 2 Diabetes Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Type 2 Diabetes market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Type 2 Diabetes market and how they will evolve in the years to come.
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Global Type 2 Diabetes market was estimated to be US$ 33407.97 million in 2022 and is expected to reach US$ 58758.9 million by 2030, growing at an estimated CAGR of 6.5% over the forecast period.. Abbott Laboratories, Acon Laboratories, Inc., Adocia, Akros Pharma, Amgen, AstraZeneca, Bayer AG, Becton, Dickinson and Company, Biocon, Boehringer Ingelheim, Daiichi Sankyo, Eli Lilly, Merck, Novartis Co., Novo Nordisk, Peptron, Pfizer, Roche Diagnostics Ltd., Sanofi, Sunpharma, Takeda Pharmaceuticals amongst others.
The main cause of Type 2 diabetes market is the lack of physical activity in one’s life and excess body weight. The global market for diabetes care is experiencing a major transition, powered by the advent of new analytical techniques and diabetes treatment advances. Due to the rising rates of sedentary lifestyles and obesity among the global population, there has been a drastic increase in diabetes incidents worldwide. It is expected that the submarkets such as human insulin and analogues will retain dominance in the overall market for diabetes treatment. Type 2 diabetes mellitus is a metabolic disorder that results from excess caloric intake. The condition is characterized by a progressive insulin secretory deficiency which increases the body’s demand for insulin to maintain homeostasis of glucose. Hyperglycemia is a significant symptom of type 2 mellitus diabetes. It is noted that the key factors driving the Type 2 diabetes market are increasing technological advances and escalating prevalence. It has been recently noted that this type of diabetes was not only seen in adults but also seen increasingly in children.
With the growing awareness of the disease coupled with technological advances, industry players are coming up with innovative drugs and tools. Numerous other factors, such as increased awareness, research funding for diabetes diagnosis and treatment, unmet medical needs, global prevalence of obesity, strict regulatory framework, increased government assistance and increased adoption rates, are continually contributing to the growth of the global market for Type 2 diabetes. Given these drivers, there are some issues surrounding the demand for diabetes type 2 care. The high cost of diagnosing and treating diabetes, the side effects of available treatment options and the poor healthcare system in low-and middle-income countries is expected to critically impact the overall market growth. It has been recently reported that the annual incidence of Type 2 diabetes is 5.2% in the United States. Since the disease type is progressive in nature, the drugs tend to have good effect amongst the treatment options and also controls the blood sugar levels. Sometimes after a specific duration the drugs tend to lose efficacy even with higher doses of the same medications. Moreover, many patients continue to have uncontrolled diabetes, so they require new treatment options with improved durability, safety profiles, and impact on non-insulin parameters such as lipids, weight, and blood pressure. Such type of new drugs should be formulated on the basis of the requirement. Some of the drugs prescribed for type 2 diabetes are as follows:
Metformin- This is a first prescribed drug for type 2 diabetes treatment. It generally works by lowering the glucose production in the liver and also improves the body’s sensitivity to insulin, such that the body uses insulin more effectively. Common side effects of this type is diarrhoea and nausea.
Sulfonylureas – These medications help the body to secrete more insulin. Some of the instances include, glyburide (DiaBeta, Glynase), glimepiride (Amaryl) and glipizide (Glucotrol). Side effects of the same includes weight gain and low blood sugar levels.
Meglitinides – Medications such as nateglinide (Starlix) and repaglinide (Prandin) work similar to sulfonylureas by stimulating the pancreas to create more insulin. Side-effects of the same consists of weight gain and increased risk of heart failure and anaemia. Such medications are not considered the first choice of treatment.
New insulin delivery systems are being developed to treat both hyperglycemia and hypoglycaemia and to increase efficacy while reducing diabetes care problems in the future. Valeritas, Inc comes with new advanced insulin delivery system under the brand name V-Go. It is simple and a disposable device for the insulin therapy for type 2 diabetes patients. V-Go provides pre-set, sustained release of insulin as per the body’s requirement. It is the best alternative for the multiple daily insulin injections. It is small, light in weight like a patch and patients have to apply on the skin after filling proper amount of insulin into it. High cost of diagnosis and treatment is restraining the type 2 diabetes market growth.
The research and development for diabetes drugs is expected to propel the growth of the overall market in the future years. As discussed previously, many type of drugs like sulfonylureas, meglitinides, thiazides and biguanides are available as a treatment option for the type 2 diabetes. But not a single drug is available to completely cure diabetes. In addition, the long term use of these drugs shows side effects and complications in the body and ultimately produces cardiovascular complications, liver diseases, kidney diseases and weight gain. As many of the drugs shows interference and interaction after administration, anti-diabetic drugs also show interference and interaction with other drugs, if the patient is taking them for a long time. According to a new study published by researchers in Weill Cornell Medicine and NewYork-Presbyterian, the protein adipsin which is produced in body fat helps in protecting the insulin-secreting cells named as pancreatic beta cells from destruction in Type 2 diabetes disease. The same was recently published in November, 2019. Also, amongst the middle-aged adults, higher levels of the protein in the blood were also associated with protection from type 2 diabetes. The researchers were well-versed about the fact that adipsin had a role in stimulating beta cells to secrete insulin. Thus, they eventually theorized that this could be a potential therapy for type 2 diabetes treatment. Such a factor is expected to aid the overall type 2 diabetes market over the next eight years.
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Type 2 Diabetes Market:
- By Treatment + Devices
- Alpha-Glucosidase Inhibitors
- Blood Glucose Monitoring
- Insulin Delivery Devices
- By Geography
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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