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The type 2 diabetes market size is estimated to grow at a CAGR of 10.94% and the size of the market is forecast to increase by USD 39.37 billion between 2022 and 2027. The growth of the market depends on several factors, including the rising prevalence of diabetes, the rise in the prevalence of obesity and changing lifestyles and recent product approvals, the rising prevalence of diabetes, the rising prevalence of obesity, and changing lifestyles.
This market report extensively covers market segmentation by drug class (insulin, dpp-4 inhibitor, glp-1 receptor agonists, sglt-2 inhibitors, and others), distribution channel (retail pharmacies, hospital pharmacies, and online pharmacies), and geography (North America, Europe, Asia, and Rest of World (ROW). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising prevalence of diabetes is notably driving the type 2 diabetes (T2D) market growth, although factors such as the low diagnosis rate may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase of diabetes all around the world is the major driver of type 2 diabetes 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. 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.
Innovations in therapies are the primary trend driving the type 2 diabetes 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.
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.
The low diagnosis rate may impede the type 2 diabetes (T2D) market growth. 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.
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 the type 2 diabetes (T2D) market growth.
The market 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Type 2 Diabetes Market Customer Landscape
Vendors 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.
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. This segment also comprises the commercial operations of the following global franchises: Specialty Care, Diabetes and Cardiovascular, and Established Prescription Products and Generics.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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.
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The insulin segment showed a gradual increase in market share with USD 13.15 billion in 2017 and continued to grow by 2021. 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.
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North America is projected to contribute 38% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that 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.
Technavio categorizes the global type 2 diabetes market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent global pharmaceuticals market covers products and companies engaged in research and development (R&D) or production of generic drugs, non-generic drugs, and veterinary drugs. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The type 2 diabetes market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, product, distribution channel, and region.
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Type 2 Diabetes Market Scope |
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Report Coverage |
Details |
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Page number |
173 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.94% |
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Market growth 2023-2027 |
USD 39.37 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
9.49 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Germany, UK, China, and India |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
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, Merck KGaA, Novartis AG, Novo Nordisk AS, Pfizer Inc., Practo Technologies Pvt. Ltd., Sanofi SA, Takeda Pharmaceutical Co. Ltd., and Tonghua Dongbao Pharmaceutical Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Drug Class
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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