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), By Application(Glycemic Control, Cardiovascular Safety), By Region(North America, Europe) - Industry Forecast 2024-2031

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

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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.

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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), By Application(Glycemic Control, Cardiovascular Safety), By Region(North America, Europe) - Industry Forecast 2024-2031

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