Type 2 Diabetes Market Size, Share, Growth Analysis, By Drug Class(Dipeptidyl Peptidase-4 (DPP-4) Inhibitors, Glucagon-Like Peptide-1 (GLP-1) Receptor Agonists, Thiazolidinediones, Alpha-glucosidase Inhibitors), By Application(Glycemic Control, Cardiovascular Safety, Hypoglycemia Avoidance and Others), By Region(North America, Europe, Asia Pacific, Central & South America and Middle East & Africa), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35J2107 | Region: Global | Published Date: April, 2024
Pages: 216 |Tables: 94 |Figures: 77

Type 2 Diabetes Market Insights

Global Type 2 Diabetes Market size was valued at USD 32 billion in 2022, USD 34.46 billion in 2023 and is projected to grow USD 59.45 billion by 2031, growing at a CAGR of 8.20% in the forecast period (2024-2031).

The rising prevalence of type 2 diabetes (T2D) worldwide is the main reason propelling the market expansion. The NCBI reports that 89 million instances of type 2 diabetes were reported in 2014, and by 2022, that number is predicted to rise to 330 million cases. Furthermore, pharmaceutical companies' developments in diabetes drugs support the market's expansion. The two new drugs in the market are glucagon-like peptide-1 receptor agonists Tanzeum & Trulicity and sodium glucose cotransporter 2 inhibitor Jardiance. However, the market expansion is constrained by patients' ignorance of these drugs' availability. On the other hand, it is anticipated that unmet medical requirements in developing nations would present profitable expansion prospects for the industry.

As the prevalence of diabetes has increased, so too has the need for improved diabetes care options. Furthermore, the business is now able to offer highly adaptive solutions due to technological advancements. The growing acceptance of cloud-based enterprise solutions and the growing popularity of connected devices and apps are two other key factors propelling the market's expansion. However, factors including high device costs, a lack of funding in developing nations, and a higher adoption of traditional diabetes control technologies are projected to restrain growth in this market during the forecast period.

Market Snapshot - 2024-2031

Global Market Size

USD 32 billion

Largest Segment

Thiazolidinediones

Fastest Growth

Dipeptidyl Peptidase-4 (DPP-4) Inhibitors

Growth Rate

8.20% CAGR

Global Type 2 Diabetes Market ($ Bn)
Country Share for North America (%)

To get more reports on the above market click here to Buy The Report

Type 2 Diabetes Market Segmental Analysis

The global type 2 diabetes market is segmented based on drug class, application and regional type. In terms of drug class, the market is segmented into dipeptidyl peptidase-4 (DPP-4) inhibitors, glucagon-like peptide-1 (GLP-1) receptor agonists, thiazolidinediones, alpha-glucosidase inhibitors, sulfonylureas & other insulin secretagogues, biguanides and sodiumGlucose cotransporter 2 inhibitors. Based on application, the market is grouped into glycemic control, cardiovascular safety, hypoglycemia avoidance and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. During the projected period, drug class are expected to hold the greatest market share and dominate the industry.

Analysis by Drug Class

As per categorization by drug class, the market is classified into dipeptidyl peptidase-4 (DPP-4) inhibitors, glucagon-like peptide-1 (GLP-1) receptor agonists, thiazolidinediones, alpha-glucosidase inhibitors, sulfonylureas & other insulin secretagogues, biguanides and sodium Glucose cotransporter 2 inhibitors. Among these, thiazolidinediones earned the largest share and continue to dominate the market. The global market for is still dominated by thiazolidinediones (TZDs), with continuous innovation mostly aimed at enhancing safety and efficacy profiles. Novel formulations that optimize glycemic management while minimizing side effects including weight gain and edoema are among the recent developments. TZDs are still a useful alternative in the treatment of diabetes, even with worries about cardiovascular risks. This is especially true for patients who cannot tolerate other pharmaceutical classes.

The global market for Type 2 diabetes is expected to grow rapidly due to several factors, including Dipeptidyl Peptidase-4 (DPP-4) Inhibitors, Glucagon-Like Peptide-1 (GLP-1) Receptor Agonists, Alpha-glucosidase Inhibitors, Sulfonylureas & Other Insulin Secretagogues, and Sodium-Glucose Cotransporter 2 (SGLT2) Inhibitors. Type 2 diabetes is becoming more commonplace worldwide, glycemic control is becoming more widely recognized, drug formulation advances are improving efficacy and safety profiles, and personalized medicine is becoming more and more important. These factors are driving demand for newer classes of antidiabetic agents that provide better outcomes with a lower risk of side effects.

Analysis by Application

Innovation in glycemic control for Type 2 diabetes is concentrated on improving patient outcomes and treatment efficacy in the global market. This includes the creation of cutting-edge drugs like SGLT2 inhibitors and GLP-1 receptor agonists, which provide better glycemic control with fewer adverse effects including weight gain and hypoglycemia. Furthermore, there's a rising focus on personalized medicine, which optimizes glycemic management by customizing treatment plans for each patient's needs through the use of continuous glucose monitoring systems and digital health technology.

For a number of reasons, cardiovascular safety, avoiding hypoglycemia, and other related considerations are anticipated to develop at the quickest rate in the worldwide Type 2 diabetes market. First, people and healthcare professionals are becoming more conscious of the serious consequences of diabetes-related cardiovascular problems, which is increasing demand for drugs with established cardiovascular advantages. Additionally, as hypoglycemia incidents can have major negative consequences, there is increasing emphasis on minimizing them. Furthermore, the creation of innovative medicines and interventions targeted at resolving these pressing issues is being made easier by technological and treatment modality developments, which is fueling the market's explosive expansion.

Global Type 2 Diabetes Market By Drug Class (%)

To get detailed analysis on other segments, Request For Free Sample Report

Type 2 Diabetes Market Regional Insights

With a 35% revenue share, North America led the type 2 diabetes market in 2022. The rising incidence of diabetes is fueling the type 2 diabetes market's expansion in the area. In North America, the number of individuals with diabetes is estimated to be over 29 million, and by 2025, it is predicted to reach 32 million. There were more than 25 million diabetics in the United States alone in 2019. Conversely, during the projection period, Europe is anticipated to develop at the fastest rate. In the European region, the UK leads the market for type 2 diabetes. The type 2 diabetes market is expanding in the European region due to the rising number of type 2 diabetic patients.

Asia Pacific, Latin America, and the Middle East and Africa are developing as major regions with great development potential in the global market for Type 2 diabetes. Asia Pacific is the region with the quickest rate of growth among them, thanks to factors including increasing urbanization, sedentary lifestyles, and dietary changes that have increased the incidence of diabetes. Due to ageing populations and rising obesity rates, Latin America follows closely. The market is growing throughout the Middle East and Africa due to the region's fast urbanization and the adoption of Western eating habits. Pharmaceutical businesses and healthcare providers looking to address the rising prevalence of Type 2 diabetes can find profitable prospects in these regions.

Global Type 2 Diabetes Market By Geography
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Type 2 Diabetes Market Dynamics

Drivers

AI Diabetes Care Devices

  • The subject of artificial intelligence (Al) is expanding quickly, and its applications in diabetes have changed how this chronic condition is diagnosed and managed. Algorithms to enable predictive models for the risk of getting diabetes or its complications have been developed using machine learning principles. Al will present a paradigm change in the treatment of diabetes that replaces traditional management techniques with focused, data-driven precision care.

Increasing Diabetes-Related Health Expenditure

  • Diabetes-related health spending has increased significantly worldwide, from USD 232 billion in 2007 to USD 966 billion in 2021 for persons aged 20 to 79. This is a 316% rise in just 15 years. Many makers of digital diabetes management devices are concentrating on growing their company in these regions in order to take advantage of new opportunities, given the rising costs associated with diabetes-related healthcare in emerging nations.

Restraints

Developing Countries Lacks Reimbursement Schemes

  • While most commercial health plans in industrialised nations cover the cost of commercially marketed devices, in underdeveloped nations, differences in reimbursement systems frequently lead to treatment non-compliance. Diabetes patients in China and India must pay for integrated CGM systems, insulin, blood glucose monitors, and their upkeep out of pocket. Therefore, it is reasonable to assume that in the next years, the adoption of digital diabetes management solutions will be constrained by the exorbitant costs and dearth of reimbursements in developing nations.

Low Penetration for New Advancements

  • Comparatively speaking, underdeveloped nations have a lower uptake of technologically sophisticated digital diabetes management platforms than do industrialised nations. This is due to a number of factors, including poor infrastructure, hazy national e-health agendas, the need to allay public concerns about data security and privacy, challenges in achieving interoperability, a dearth of health informatics-trained workers and initiatives, and a dearth of regional integration tactics. The poverty rate is negatively impacted by low levels of digitalization, poor quality and access, and critical health consequences. This leads to a widespread unwillingness and incapacity to fully implement cutting-edge technologies, such as computerised diabetes care.

Request Free Customization of this report to help us to meet your business objectives.

Type 2 Diabetes Market Competitive Landscape

The competitive landscape of the Global Type 2 Diabetes Market is characterized by the presence of prominent international pharmaceutical companies. Novo Nordisk, Sanofi, and Eli Lilly are among the key players dominating this market, leveraging their extensive product portfolios and research capabilities. Additionally, multinational corporations like Merck & Co., Inc. and AstraZeneca PLC contribute significantly to market competition through innovative therapies and strategic alliances, driving advancements in diabetes management worldwide.

Top Player’s Company Profiles

  • Medtronic (Ireland)
  • B. Braun Melsungen AG (Germany)
  • Dexcom, Inc. (US)
  • Abbott Laboratories (US)
  • F. Hoffmann-La Roche (Switzerland)
  • Insulet Corporation (US)
  • Tandem Diabetes Care (US)
  • Ascensia Diabetes Care Holdings AG (Switzerland)
  • LifeScan, Inc. (US)
  • Tidepool (US)
  • AgaMatrix (US)
  • Glooko, Inc. (US)
  • DarioHealth Corporation (Israel)
  • One Drop (US)
  • Dottli (Finland)
  • Ypsomed Holding AG (Switzerland)
  • ARKRAY (Japan)
  • ACON Laboratories, Inc. (US)
  • Care Innovations, LLC (US)
  • Health2Sync (Taiwan)
  • Emperra GmbH E-Health Technologies (Germany)

Recent Developments

  • In July 2023, An important development is Novo Nordisk's introduction of Ozempic® (semaglutide) for the decrease of cardiovascular risk in people with Type 2 diabetes. Novo Nordisk's dedication to enhancing patient outcomes and tackling cardiovascular problems linked to diabetes is bolstered by the exceptional efficiency of this once-weekly injectable GLP-1 receptor agonist.
  • In November 2022, In the market for Type 2 diabetes, Sanofi's Toujeo® Max SoloStar® FDA approval represents a significant advancement. Sanofi's diabetes medication line is further expanded with the introduction of Toujeo® Max SoloStar®, an insulin glargine injection that has three times the maximum dose of Toujeo® SoloStar®. This injection helps patients with Type 2 diabetes achieve better glycemic control and more dosing flexibility.
  • In March 2021, The acquisition of Protomer Technologies by Eli Lilly represents a calculated step in the direction of cutting-edge diabetes treatments. Peptide engineering is Protomer Technologies' area of expertise. Its unique molecular engineering platform holds promise for improvements in diabetic therapies, including insulin that responds to glucose. Eli Lilly's dedication to developing cutting-edge new approaches for managing Type 2 diabetes is demonstrated by this purchase, which bodes well for upcoming therapeutic advancements.

Type 2 Diabetes Key Market Trends

  • Stronger Emphasis on Customized Medicine: A greater focus is being placed on customizing treatment methods to the unique characteristics of each patient, including genetics, lifestyle variables, and comorbidities, thanks to developments in digital health technologies and genetic testing. By providing customized solutions that are in line with individual patient needs and preferences, this approach seeks to maximize therapeutic outcomes, enhance patient adherence, and reduce side effects.
  • Growth of Digital Health and Telemedicine services: The use of digital health platforms and telemedicine in the treatment of diabetes has increased since the start of the COVID-19 epidemic. With the convenience of their homes, patients may now receive virtual consultations, monitoring tools, and instructional materials, which promotes patient involvement and continuous treatment. This trend allows for real-time data collecting for more effective illness management and individualized therapy modifications, in addition to improving healthcare accessibility and convenience.

Type 2 Diabetes Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per SkyQuest analysis, with predictive models created using machine learning principles offering a paradigm shift towards data-driven precision care, the rapid expansion of artificial intelligence (AI) in diabetes care has revolutionized diagnosis and management and may change traditional management techniques. The absence of reimbursement programmes in developing nations like China and India means that patients must pay for necessary diabetes management supplies out of pocket. This could make it more difficult for patients to adopt digital solutions due to the cost and coverage issues with integrated continuous glucose monitoring (CGM) systems, insulin, and blood glucose monitors. The global type 2 diabetes market is dominated by major players like Novo Nordisk, Sanofi, and Eli Lilly as well as multinational companies like Merck & Co., Inc. and AstraZeneca PLC. These companies use their strong product lines, strong research teams, and strategic partnerships to advance diabetes care globally.

Report Metric Details
Market size value in 2023 USD 32 billion
Market size value in 2031 USD 59.45 billion
Growth Rate 8.20%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Drug Class
    • Dipeptidyl Peptidase-4 (DPP-4) Inhibitors, Glucagon-Like Peptide-1 (GLP-1) Receptor Agonists, Thiazolidinediones, Alpha-glucosidase Inhibitors, Sulfonylureas & Other Insulin Secretagogues, Biguanides and SodiumGlucose Cotransporter 2 Inhibitors
  • Application
    • Glycemic Control, Cardiovascular Safety, Hypoglycemia Avoidance and Others
  • Region
    • North America, Europe, Asia Pacific, Central & South America and Middle East & Africa
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Medtronic (Ireland)
  • B. Braun Melsungen AG (Germany)
  • Dexcom, Inc. (US)
  • Abbott Laboratories (US)
  • F. Hoffmann-La Roche (Switzerland)
  • Insulet Corporation (US)
  • Tandem Diabetes Care (US)
  • Ascensia Diabetes Care Holdings AG (Switzerland)
  • LifeScan, Inc. (US)
  • Tidepool (US)
  • AgaMatrix (US)
  • Glooko, Inc. (US)
  • DarioHealth Corporation (Israel)
  • One Drop (US)
  • Dottli (Finland)
  • Ypsomed Holding AG (Switzerland)
  • ARKRAY (Japan)
  • ACON Laboratories, Inc. (US)
  • Care Innovations, LLC (US)
  • Health2Sync (Taiwan)
  • Emperra GmbH E-Health Technologies (Germany)
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Type 2 Diabetes Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Type 2 Diabetes Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Type 2 Diabetes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Type 2 Diabetes Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Type 2 Diabetes Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Type 2 Diabetes Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Type 2 Diabetes Market size was valued at USD 32 billion in 2022, USD 34.46 billion in 2023 and is projected to grow USD 59.45 billion by 2031, growing at a CAGR of 8.20% in the forecast period (2024-2031).

The competitive landscape of the Type 2 Diabetes Market is characterized by the presence of prominent international pharmaceutical companies. Novo Nordisk, Sanofi, and Eli Lilly are among the key players dominating this market, leveraging their extensive product portfolios and research capabilities. Additionally, multinational corporations like Merck & Co., Inc. and AstraZeneca PLC contribute significantly to market competition through innovative therapies and strategic alliances, driving advancements in diabetes management worldwide. 'Medtronic (Ireland)', 'B. Braun Melsungen AG (Germany)', 'Dexcom, Inc. (US)', 'Abbott Laboratories (US)', 'F. Hoffmann-La Roche (Switzerland)', 'Insulet Corporation (US)', 'Tandem Diabetes Care (US)', 'Ascensia Diabetes Care Holdings AG (Switzerland)', 'LifeScan, Inc. (US)', 'Tidepool (US)', 'AgaMatrix (US)', 'Glooko, Inc. (US)', 'DarioHealth Corporation (Israel)', 'One Drop (US)', 'Dottli (Finland)', 'Ypsomed Holding AG (Switzerland)', 'ARKRAY (Japan)', 'ACON Laboratories, Inc. (US)', 'Care Innovations, LLC (US)', 'Health2Sync (Taiwan)', 'Emperra GmbH E-Health Technologies (Germany)'

The subject of artificial intelligence (Al) is expanding quickly, and its applications in diabetes have changed how this chronic condition is diagnosed and managed. Algorithms to enable predictive models for the risk of getting diabetes or its complications have been developed using machine learning principles. Al will present a paradigm change in the treatment of diabetes that replaces traditional management techniques with focused, data-driven precision care.

Stronger Emphasis on Customized Medicine: A greater focus is being placed on customizing treatment methods to the unique characteristics of each patient, including genetics, lifestyle variables, and comorbidities, thanks to developments in digital health technologies and genetic testing. By providing customized solutions that are in line with individual patient needs and preferences, this approach seeks to maximize therapeutic outcomes, enhance patient adherence, and reduce side effects.

With a 35% revenue share, North America led the type 2 diabetes market in 2022. The rising incidence of diabetes is fueling the type 2 diabetes market's expansion in the area. In North America, the number of individuals with diabetes is estimated to be over 29 million, and by 2025, it is predicted to reach 32 million. There were more than 25 million diabetics in the United States alone in 2019. Conversely, during the projection period, Europe is anticipated to develop at the fastest rate. In the European region, the UK leads the market for type 2 diabetes. The type 2 diabetes market is expanding in the European region due to the rising number of type 2 diabetic patients.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Report ID: SQMIG35J2107

$5,300
BUY NOW GET FREE SAMPLE