Global Type 2 Diabetes Market Size study & Forecast, by Drug Class (Dipeptidyl Peptidase-4, Inhibitors, Glucagon-Like Peptide Receptor Agonists, Thiazolidinediones, Alpha-Glucosidase Inhibitors, Sulfonylureas & Other Insulin Secretagogues, Biguanides, Sod

Global Type 2 Diabetes Market Size study & Forecast, by Drug Class (Dipeptidyl Peptidase-4, Inhibitors, Glucagon-Like Peptide Receptor Agonists, Thiazolidinediones, Alpha-Glucosidase Inhibitors, Sulfonylureas & Other Insulin Secretagogues, Biguanides, Sodium Glucose Cotransport 2 Inhibitors), by Application (Glycaemic Control, Cardiovascular Safety, Hypoglycaemia Avoidance , Others) and Regional Analysis, 2023-2030

Global Type 2 Diabetes Market is valued approximately at USD 32.32 billion in 2022 and is anticipated to grow with a compounded annual growth rate of more than 8.4% over the forecast period 2023-2030. Type 2 Diabetes, also known as adult-onset diabetes or non-insulin-dependent diabetes is a chronic metabolic disorder characterized by high blood sugar levels. It is the most common form of diabetes accounting for approximately 90% to 95% of all diagnosed cases. Unlike type one diabetes, which is an autoimmune condition where the body fails to produce insulin type two diabetes is characterized by insulin resistance and inadequate insulin production. Increasing number of diabetic patients and growing geriatric population elucidate as the growth drivers of this market during the forecast period.

According to the World Health Organization, diabetes may afflict 537 million adults globally in 2021, with one in ten experiencing other diabetes. According to the World Bank Group in 2022, the world old population was 727 million in 2020, and it is predicted to rise over the next three decades, reaching 1.5 billion in 2050. However, lack of awareness of disease and limited treatment options availability may hamper the growth space of this market. Furthermore, emerging pharma sector and increasing prevalence of type 2 diabetes anticipated to elevate the growth of the Global Type 2 Diabetes Market.

The key regions considered for the Global Type 2 Diabetes Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the type 2 diabetes market. The region's market growth is driven by the increasing prevalence of diabetes, with over 29 million individuals affected, expected to rise to 32 million by 2025. Notably, the United States alone had more than 25 million diabetic patients in 2019. The expansion of the healthcare sector, favorable government regulations, and a growing number of initiatives and favorable reimbursement policies contribute to the overall growth of the type 2 diabetes market in North America. Europe is anticipated to exhibit the highest growth rate among regions. Within Europe, the type 2 diabetes market is primarily dominated by the United Kingdom. The increasing number of patients with type 2 diabetes is a key driver for market growth in the region. Factors such as escalating research and development activities and the rising prevalence of obesity contribute to the demand for type 2 diabetes drugs. Furthermore, enhanced supply chain management presents favorable opportunities for the expansion of the type 2 diabetes market in Europe.

Major market player included in this report are:
Amgen Inc.
AstraZeneca PLC
Boehringer Ingelheim International GmbH
Daiichi Sankyo Co. Ltd
Eli Lilly and Co.
Merck & Co. Inc
Novo Nordisk AS
Sanofi SA
Takeda Pharmaceutical Co. Ltd
Novartis AG

Recent Developments in the Market:
In October 2022, Glenmark Pharmaceuticals introduced a novel medication called Zita D, intended for the treatment of patients with type 2 diabetes, particularly those who also have a comorbid condition.
In March 2019, Novo Nordisk announced its plans to invest approximately USD 98 million in the expansion and advancement of its insulin medicine manufacturing facility located in Denmark. The completion of this project is anticipated to occur by the conclusion of 2020.

Global Type 2 Diabetes Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Drug Class, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Drug Class:
Dipeptidyl Peptidase-4 Inhibitors
Glucagon-Like Peptide Receptor Agonists
Thiazolidinediones
Alpha-Glucosidase Inhibitors
Sulfonylureas & Other Insulin Secretagogues
Biguanides
Sodium Glucose Cotransport 2 Inhibitors

By Application:
Glycaemic Control
Cardiovascular Safety
Hypoglycaemia Avoidance
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Amgen Inc.
AstraZeneca PLC
Boehringer Ingelheim International GmbH
Daiichi Sankyo Co. Ltd
Eli Lilly and Co.
Merck & Co. Inc
Novo Nordisk AS
Sanofi SA
Takeda Pharmaceutical Co. Ltd
Novartis AG

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