Type 2 Diabetes Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, China, UK, India - Size and Forecast 2024-2028

Type 2 Diabetes Market Size 2024-2028

The global type 2 diabetes market size is estimated to grow/decline by USD 42.6 at a CAGR of 10.84% between 2023 and 2028. Market growth hinges on several factors, notably the increasing prevalence of diabetes, rising obesity rates, and shifting lifestyles. Recent product approvals also contribute to market expansion. The growing incidence of diabetes, driven by factors such as sedentary lifestyles and unhealthy dietary habits, underscores the need for innovative diabetes management solutions. Additionally, the rising prevalence of obesity, often linked to diabetes, further propels market growth. Changing lifestyles, characterized by higher stress levels and less physical activity, contribute to the growing diabetes burden. These factors collectively drive demand for diabetes management products and services, shaping the market landscape and presenting opportunities for companies operating in this space.

What will be the Size of the Type 2 Diabetes Market During the Forecast Period?

To learn more about this report, Request Free Sample

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

Amgen Inc., AstraZeneca Plc, Baxter International Inc., Biocon Ltd., Boehringer Ingelheim International GmbH, Cadila Pharmaceuticals Ltd., Daiichi Sankyo Co. Ltd., DM Pharma Marketing Pvt. Ltd., Eli Lilly and Co., GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., Johnson and Johnson Services Inc., Merck KGaA, Novartis AG, Novo Nordisk AS, Pfizer Inc., Practo Technologies Pvt. Ltd., Sanofi SA, Takeda Pharmaceutical Co. Ltd., and Viatris Inc.

Sanofi SA - The company's key offerings for type 2 diabetes patients in India, offered under its pharmaceuticals segment, include two drugs, namely Lyxumia and Zemiglo. 

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation 

By Drug Class Insights

The market share growth by the insulin segment will be significant during the forecast period. The insulin segment of the market is expected to grow rapidly during the forecast period, as regular insulin treatment is the only cure for type 1 diabetes. In type 2 diabetes, insulin is administered when options such as diet, exercise, and oral anti-diabetic drugs fail to maintain optimal blood glucose levels. Factors such as an increase in the population with type 2 diabetes and disease awareness contribute to the growth of the global insulin market. In addition, the rising obese and older population is expected to propel the type 2 diabetes (T2D) market growth.

Get a glance at the market contribution of various segments Download PDF Sample

The insulin segment showed a gradual increase in market share with USD 14.10 billion in 2018. Insulin is a peptide hormone produced by the beta cells of the islets of Langerhans (pancreatic cells). It is produced as preproinsulin, which acts as a precursor for insulin. An increase in R&D for novel mechanisms, as well as a rise in the number of awareness programs and collaborations between academic institutes and industries, is expected to boost the market growth. Eli Lilly, Novo Nordisk, and Sanofi are the major vendors in the market. Lantus, NovoRapid, and Humalog are the top-selling products in the type 2 diabetes (T2D) market growth.

Regional Analysis

For more insights about the market share of various regions Download PDF Sample

North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period.

The growth of the type 2 diabetes market in North America is driven by the increasing prevalence of diabetes in North America. For instance, according to the CDC, in 2018, 34.2 million people belonging to all age groups, or 10.5% of the US population, had diabetes. Out of this, 26.9 million people from all age groups, or 8.2% of the US population, had diabetes that had been diagnosed. The US, Canada, and Mexico have the highest proportion of people with diabetes in the region. The US is the major contributor to revenue in the market due to the large base diabetic population, sophisticated healthcare infrastructure, and growing technological advances. Canada and Mexico follow the US and are next to major revenue generators in North America. The availability of advanced drugs is likely to spur the demand for the type 2 diabetes therapeutics market in these countries.

Buy Full Report Now

Market Dynamics and Customer Landscape

The market is shaped by a myriad of factors, including the prevalence of neurological problems, blood sugar level management, and complications affecting the heart, eyes, blood vessels, and nerves. Individuals with diabetes often experience symptoms such as increased thirst, urination, fatigue, blurred vision, slow-healing wounds, infections, tingling, and numbness in the feet and hands. This chronic condition affects various demographics, including adolescents and young adults. Therapeutic compounds and pharmaceutical interventions, such as insulin and medications like Jardiance, Tanzeum, and Trulicity, play a crucial role in managing diabetes. Retail pharmacies serve as key distribution channels for diabetic medications, catering to the needs of patients seeking effective treatments to mitigate the risks of cardiovascular diseases and renal problems associated with hyperglycemia.

Key Market Driver 

The increase of diabetes all around the world is the major driver of market growth. The body’s ineffective secretion of insulin production is the reason behind the occurrence of type 2 diabetes. Obesity and lack of exercise are the prime cause of type 2 diabetes. Type 2 diabetes is caused by hyperglycemia and metabolic alterations due to abnormalities in insulin secretion or insulin action. Nowadays, type 2 diabetes is not only common in adults but also common among children. It is hard to diagnose early symptoms of type 2 diabetes. As soon as the disease is diagnosed, it is important to provide effective medications.

Moreover, the initial treatment to cure the disease include weight loss plans, lifestyle changes, and the administration of metformin. American Diabetes Association (ADA) and the European Association for the Study of Diabetes (EASD) recommend a patient-specific treatment approach to improve glycemic control to treat the disease. People with type 2 diabetes will drive the growth of the market during the forecast period.

Significant Market Trends

Innovations in therapies are the primary trend driving the market growth. Several vendors are introducing advanced therapeutics to treat diabetes. Incretins are GLP-1 and glucose-dependent insulinotropic polypeptides (GIPs), which are secreted by the GI tract in response to food intake. Both GLP-1 and GIPs stimulate the beta cells in the pancreas, which account for 60% of the insulin secreted after a meal. Type 2 diabetes reduces the secretion of GLP-1 and reduces the responsiveness to GIP. The benefits of incretin hormones on glycemic control include enhanced satiety, decreased GI motility, increased glucose-dependent insulin secretion, reduced glucagon secretion, and decreased hepatic glucose release.

Moreover, two incretin-based drug classes are used to treat people with type 2 diabetes, including oral DPP4 inhibitors and GLP-1 receptor agonists. The pathophysiology of type 2 diabetes involves at least seven major organs and tissues, including the brain, liver, pancreas, intestines, kidneys, fat, and muscles. No single medication can cure all seven organs and tissues, which is why most people require more than one medication to treat the disease. Hence, drugs with a unique and complementary mechanism of action (MoA) are required. Therapeutics such as DPP4 inhibitors, GLP-1 receptor agonists, SGLT2 inhibitors, colesevelam, and bromocriptine QR provide therapeutic options with a novel MoA. They also prevent weight gain and reduce the risk of hypoglycemia. Though all these medications are not appropriate for everyone, they offer healthcare providers several options to personalize treatments and optimize healthcare for patients.

Major Market Challenge

The low diagnosis rate may impede the type 2 diabetes (T2D) will hinder the market growth analysis. The clinical diagnosis of type 2 diabetes might be delayed up to 12 years after its onset owing to the asymptomatic nature of the disease during its initial phases. According to the rule of halves by Wilber and Barrow, only half of the population with the disease is actually diagnosed with diabetes. Of these people, only half undergo treatment from healthcare professionals. Thus, the number of people receiving treatment and achieving the desired outcomes constitutes only a small proportion of the total population with diabetes.

However, according to the CDC, in 2018, 34.2 million people in the US, or 10.5% of the US population, had diabetes. Of these 34.2 million adults with diabetes, 26.8 million were diagnosed with diabetes, while 7.3 million people were still undiagnosed. Also, the proportion of undiagnosed diabetes was 30%-40% in Europe in 2019. In addition, as per the report of the International Diabetes Federation (IDF) Africa Region, the continent has the highest proportion of people with undiagnosed diabetes, with 60% of adults living with diabetes unaware of their condition in 2019. In Southeast Asia and Western Pacific, 52.1% of the population with diabetes remains undiagnosed. It has also been estimated that 81.1% of the undiagnosed population is from low- and middle-income countries. Thus, the low diagnosis rate prevents people from getting the necessary treatment, posing a challenge to market growth and forecasting.

Market Customer Landscape

The market forecast report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market forecasting and growth strategies.

 Customer Landscape

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Drug Class Outlook 
  • Insulin
  • DPP-4 inhibitor
  • GLP-1 receptor agonists
  • SGLT-2 inhibitors
  • Others
• Distribution Channel Outlook 
  • Retail pharmacies
  • Hospital pharmacies
  • Online pharmacies
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

You may also be interested in:

Endocrinology Drugs Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, UK, Germany, China, Canada - Size and Forecast

Digital Diabetes Management Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, France, UK, China - Size and Forecast 

Non-insulin Diabetes Therapeutics Market - Non-insulin Diabetes Therapeutics Market by Type, Distribution Channel, and Geography - Forecast and Analysis 

Market Analyst Overview

The market addresses the rising prevalence of chronic metabolic disorders among adolescents, teenagers, and young adults. Therapeutic compounds targeting cardiovascular diseases, renal problems, and neurological issues include thiazolidinediones and Dipeptidyl Peptidase-4 Inhibitors. These medications act on PPAR receptors and adiponectin, aiding in blood sugar regulation and cardiovascular safety. With drugs like Jardiance, Tanzeum, and Trulicity, hypoglycemia avoidance and chronic disease management are prioritized, particularly in emerging economies. Diagnosis involves blood investigations, A1C tests, and oral glucose tolerance tests to assess insulin resistance and blood glucose levels. Lifestyle modifications, such as avoiding processed foods and managing risk factors like high blood pressure, complement oral medications like meglitinides and Biguanides. Non-invasive procedures and smart insulin delivery systems like Steglatro offer convenience and disease management, emphasizing a positive outlook for those with type 2 diabetes mellitus.

Moreover,  Alpha-glucosidase inhibitors, sulfonylureas, and secretagogues are common treatments for type 2 diabetes (T2D), a chronic metabolic disorder characterized by insulin resistance and elevated blood sugar levels. Individuals may experience normal blood glucose levels during an overnight fast, but may also undergo tests like the A1C, random blood sugar, or oral glucose tolerance tests to monitor their condition. Symptoms such as yeast infections and darkened skin areas in the neck, armpits, and groin can indicate underlying issues with blood sugar regulation. Sotagliflozin, a novel dual inhibitor developed by Lexicon Pharmaceuticals, targets renal glucose reabsorption and lowers blood glucose levels by enhancing urine glucose excretion. This drug candidate, administered orally via tablets, shows promise in reducing body weight and improving energy levels. It utilizes TTP translational technology to optimize its effects on the bloodstream and is particularly beneficial for individuals with a family history of diabetes or medical conditions like polycystic ovary syndrome.

Download Sample PDF at your Fingertips

What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2024 and 2028
• Precise estimation of the size of the market and its contribution in focus to the parent market
• Detailed analysis of customer landscape covering diver of price sensitivity, adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies