The Business Research Company’s Type 2 Diabetes Global Market Report 2024 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Type 2 Diabetes Global Market Report 2023 evaluates type 2 diabetes market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global type 2 diabetes market is expected to grow from $44.56 billion in 2023 to $48.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to lifestyle and dietary changes, aging population, pharmaceutical developments, public health initiatives. The type 2 diabetes market size is expected to see strong growth in the next few years. It will grow to $65.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
Increasing rates of obesity and heart disease are expected to propel the growth of the type 2 diabetes market going forward. Obesity is a medical condition where excess body fat has accumulated to an unhealthy level, while heart disease refers to a range of conditions that affect the heart and blood vessels. Excess body weight increases the risk of insulin resistance, leading to high blood sugar levels and the development of type 2 diabetes. In contrast, high blood sugar levels can damage blood vessels and nerves that control the heart and blood vessels, leading to heart disease. For instance, in May 2022, according to the Centers for Disease Control and Prevention, a US-based government agency, severe obesity in the US increased from 4.7% to 9.2% in 2021. Furthermore, in March 2022, according to a report published by the Office for National Statistics, a UK-based government department, the number of deaths from heart disease increased from 19,440 in 2020 to 20,061 in 2021. Therefore, rising rates of obesity and heart disease are driving the growth of the type 2 diabetes market.
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The type 2 diabetes market segments in the report are:
1) By Drug Class: Dipeptidyl Peptidase-4 (DPP-4) Inhibitors, Glucagon-Like Peptide-1 (GLP-1) Receptor Agonists, Thiazolidinediones, Alpha-Glucosidase Inhibitors, Sulfonylureas And Other Insulin Secretagogues, Biguanides, SodiumGlucose Cotransporter 2 Inhibitors, Other Drug Classes
2) By Application: Glycemic Control, Cardiovascular Safety, Hypoglycemia Avoidance, Other Applications
3) By End-User: Children, Adults
The table of contents in TBRC’s type 2 diabetes market report includes:
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Top Major Players
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