The forecast period is expected to witness rapid growth in the global Type 2 Diabetes Treatment Market. This condition arises from a deficiency in insulin production and sensitivity, where pancreatic cells fail to release and absorb sufficient insulin due to a lack of sensitivity, known as insulin resistance. Dysfunctional communication among pancreatic cells is believed to be the cause, leading to high blood sugar levels (hyperglycemia) and the development of various comorbidities that require continuous medical attention.
Factors supporting market growth:
Drivers: The primary driver of the Type 2 Diabetes Treatment market is the increasing prevalence rate of type 2 diabetes mellitus. According to the NCBI, approximately 462 million individuals (6.28% of the global population) were affected by type 2 diabetes mellitus, with a prevalence of 6,059 cases per 100,000 people. This number is projected to rise to 7,079 cases per 100,000 by 2030.
Advancements in disease medications play a pivotal role in improving patient adherence and boosting pharmaceutical manufacturing companies' revenue, thus stimulating market expansion. Furthermore, the increasing rates of obesity, the adoption of sedentary lifestyles, and unhealthy dietary habits are anticipated to contribute to the global prevalence of Type 2 Diabetes treatment.
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Restraints: The Type 2 Diabetes Treatment market faces some restraints, such as a lack of awareness among affected individuals, which results in many cases going undiagnosed. Furthermore, the drugs or drug classes approved for the treatment of Type 2 Diabetes Treatment have certain serious side effects that hinder market growth.
Opportunities: According to the CDC, in 2019, approximately 8.5 million adults met all laboratory criteria for type 2 diabetes mellitus but remained undiagnosed. This large pool of undiagnosed patients presents a lucrative market opportunity for pharmaceutical companies to enter and expand their presence.
Geographical Market Scenario:
Largest Market Share: The North American market generates the highest revenue and is expected to dominate the market during the forecast period. This can be attributed to increasing investments in research and development activities, various government initiatives, and the growing prevalence of type 2 diabetes mellitus in the region. Additionally, the FDA's approval of novel anti-diabetic drugs, coupled with the region's early adoption of these treatments, contributes to North America's position as the largest market globally.
Fastest Growing Region: The Asia Pacific market is projected to be the fastest growing market globally, primarily due to its large patient pool, increased healthcare expenditure, including investments in medical infrastructure, government policies that make treatment accessible to the general public, and a rising number of patients in the region.
Organic and Inorganic Strategies Adopted: Eli Lilly Co. has developed a new molecule for the treatment of type 2 diabetes mellitus, which has the advantage of reduced consumption frequency, requiring only once-weekly administration, thereby improving patient compliance. In 2019, the FDA approved genetically engineered insulin called Lispro, manufactured by Eli Lilly Co. Furthermore, in January 2020, the FDA approved a triple combination tablet named Trijardy, also manufactured by Eli Lily Co. In October 2021, Amgen acquired Teneobio, a biopharmaceutical firm, for USD 900 million, strengthening its portfolio and gaining access to Teneobio's bispecific and multispecific antibodies technologies.
Key Market Players:
- Eli Lilly and Co.
- Merck Co. Inc.
- Novartis AG
- Novo Nordisk AS
- Sanofi SA
- Takeda Pharmaceutical Co., Ltd.
- Amgen Inc.
- AstraZeneca PLC
- Boehringer Ingelheim International GmbH
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Our Report's Offerings and Advantages: This report provides historical data, forecasts, and revenue growth at a global, regional, and country level. It offers analysis of industry trends, consumption patterns, and industry strategies for each region, major country, and segment from 2019 to 2030. The report includes information on drivers, restraints, opportunities, threats, market strategies, segment revenue, and revenue share contribution for each regional and country market. Additionally, it provides industry analysis, competitive landscape, company financials, and impact analysis.
By Drug Class Outlook (Revenue, USD Million; 2019-2030):
- Dipeptidyl Peptidase-4 (DPP-4) Inhibitors
- Glucagon-Like Peptidase-1 (GLP-1) Receptor Inhibitors
- Thiazolidinediones
- Alpha-glucosidase Inhibitors
- Sulfonylureas and other Insulin Secretagogues
- Biguanides
- Sodium-Glucose Cotransporter 2 Inhibitors
By Application Outlook (Revenue, USD Million; 2019-2030):
- Glycaemic Control
- Cardiovascular Safety
- Hypoglycaemia Avoidance
- Others
By End User Outlook (Revenue, USD Million; 2019-2030):
- Hospitals
- Specialty Clinics
- Academic Institutions
- Others
By Type of Product Outlook (Revenue, USD Million; 2019-2030):
- Tablets
- Capsules
By Distribution Channel Outlook (Revenue, USD Million; 2019-2030):
- Offline Distribution
- Online Distribution
By Route of Administration Outlook (Revenue, USD Million; 2019-2030):
- Oral
- Parenterals
- Others
By Regional Outlook (Revenue, USD Million; 2019-2030):
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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