Global Type 2 Diabetes Market - 2024 - 2031

Report Overview

The Global Type 2 Diabetes Market reached US$ 33.07 billion in 2023 and is expected to reach US$ 62.59 billion by 2031 growing with a CAGR of 8.3% during the forecast period 2024-2031.

Type 2 diabetes is a multifaceted chronic condition that arises when the body either fails to produce sufficient insulin or cannot utilize it effectively. Individuals with type 2 diabetes require treatment to manage their insulin and blood sugar levels effectively.

Insulin is a hormone produced by the pancreas that regulates blood glucose levels. When there is an insufficient amount of insulin, the body struggles to absorb glucose from the food consumed. This leads to elevated blood glucose levels, which, over time, can harm blood vessels and diminish the flow of oxygen and nutrient-rich blood to the body's organs and nerves. Individuals with type 2 diabetes may require treatment to improve their body's ability to process glucose and to reduce the risk of long-term complications.

Market Dynamics: Drivers

Rising prevalence of diabetes and advancements in treatment options

The demand for the global type 2 diabetes market is driven by multiple factors. One of the primary factors is the rising prevalence of diabetes and advancements in treatment options. Several factors contribute to the development of type 2 diabetes, including obesity, physical inactivity, and genetic predisposition. Early detection plays a crucial role in mitigating the severe consequences associated with type 2 diabetes. The most effective way to identify diabetes at an early stage is through regular health check-ups and blood tests conducted by a healthcare professional.

As per Abbott news in February 2022, India has the second-largest diabetes population globally, with recent studies indicating significant disruptions in healthcare for non-communicable diseases due to the pandemic. Up to 87% of individuals with diabetes have reduced their visits to healthcare providers, and less than half own a blood glucose monitoring device at home. For adults with type 2 diabetes who are on intensive insulin therapy, research has shown that using sensor-based devices for at least three months can lower average HbA1c levels from 8.9% to 8%.

Similarly, in 2021, the International Diabetes Federation (IDF) reported that 10.5% of adults aged 20 to 79 were living with diabetes, which translates to approximately 530 million individuals. This figure is anticipated to rise to 783 million by 2045, equating to about 1 in 8 adults, marking a 46% increase in prevalence.

Furthermore, continuous advancements in research and development have paved the way for innovative diabetes medications and delivery methods, such as SGLT2 inhibitors and GLP-1 receptor agonists. These novel therapies demonstrate enhanced efficacy and improved safety profiles compared to traditional treatments. The introduction of these innovative solutions is anticipated to optimize patient outcomes and propel the growth of the type 2 diabetes market.

Moreover, key players in the industry more focus on the advanced treatments for type 2 diabetes and the rising number of clinical trials & product approvals, and key developments that would drive this market growth. For instance, in June 2023, Pfizer announced that it will continue advancing the development of its oral glucagon-like peptide-1 receptor agonist (GLP-1-RA) candidate, danuglipron for the potential treatment of obesity and type 2 diabetes mellitus (T2DM) in adults. The company will discontinue the clinical development of its other GLP-1-RA candidate, lotiglipron.

Also, in June 2024, AstraZeneca's Farxiga (dapagliflozin) received approval from the U.S. Food and Drug Administration (FDA) to enhance glycemic control in pediatric patients aged 10 years and older with type 2 diabetes (T2D). This approval is based on favorable outcomes from the pediatric T2D now in the Phase III trial. Previously, Farxiga was approved for use in adults with T2D as an adjunct to diet and exercise for improving glycemic control.

Restraints

Factors such as high treatment costs, inadequate healthcare infrastructure in developing countries, lack of awareness among individuals, and regulatory challenges are expected to hamper the market.

Market Segment Analysis

The global type 2 diabetes market is segmented based on drug type, gender, age group, route of administration, application, distribution channels, and region.

The dipeptidyl-peptidase 4 (DPP-4) inhibitors segment accounted for approximately 42.8% of the global type 2 diabetes market share.

The dipeptidyl-peptidase 4 (DPP-4) Inhibitors segment is expected to hold the largest market share over the forecast period. DPP-4 inhibitors, also known as gliptins, are a class of oral medications approved by the FDA for treating type 2 diabetes in adults. The FDA-approved DPP-4 inhibitors include sitagliptin, saxagliptin, linagliptin, and alogliptin. Vildagliptin, another DPP-4 inhibitor, has been approved by the European Medicines Agency (EMA) but not the FDA.

These drugs work by inhibiting the enzyme dipeptidyl peptidase-4 (DPP-4), which inactivates the incretin hormones glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP). Incretin hormones are gut hormones responsible for regulating glucose homeostasis after oral food intake. By inhibiting DPP-4, these drugs increase the levels of active incretins, leading to several effects that help control blood glucose levels in type 2 diabetes.

Moreover, key player's product launches & approvals, and advancements in diabetes management drive this market growth. For instance, in January 2024, Dong-A ST launched a new combination drug aimed at treating type 2 diabetes, which is a significant advancement in diabetes management. This fixed-dose combination (FDC) drug combines three active ingredients: Teneligliptin, Dapagliflozin, and Metformin. This combination is designed to improve glycemic control in patients with type 2 diabetes, particularly those with high HbA1c levels and other co-morbidities such as hypertension or cardiovascular issues.

Similarly, in October 2023, Zydus Lifesciences Limited announced that the U.S. Food and Drug Administration (FDA) has approved its New Drug Application (NDA) for ZITUVIO (Sitagliptin) tablets, available in dosages of 25 mg, 50 mg, and 100 mg. ZITUVIO contains sitagliptin, which is classified as a dipeptidyl peptidase-4 (DPP-4) inhibitor. It is indicated to be used alongside diet and exercise to help improve glycemic control in adults diagnosed with type 2 diabetes mellitus.

Also, in April 2022, Glenmark Pharmaceuticals introduced a novel fixed-dose combination (FDC) of the DPP4 inhibitor Teneligliptin and the thiazolidinedione (TZD) Pioglitazone. This FDC, marketed under the brand name Zita Plus Pio, contains Teneligliptin 20 mg and Pioglitazone 15 mg, to be taken once daily. It is the only available DPP4 and glitazone combination in India for managing uncontrolled type 2 diabetes in adults.

Market Geographical Share

North America accounted for approximately 44.5% of the global type 2 diabetes market share.

North America region is expected to hold the largest market share over the forecast period owing to the rising incidence of type 2 diabetes is a primary driver of market growth in North America. According to the CDC, in 2021, approximately 38.4 million individuals of all ages, representing 11.6% of the U.S. population, were diagnosed with diabetes. Among adults aged 18 and older, this figure rose to 38.1 million, accounting for 14.7% of all U.S. adults.

Notably, 8.7 million adults in this age group met the laboratory criteria for diabetes but were either unaware of their condition or did not report it, which constitutes 3.4% of all U.S. adults and 22.8% of those with diabetes. The prevalence of diabetes among adults increases with age, reaching 29.2% for those aged 65 and older.

Furthermore, rising obesity rates, technological advancements, government initiatives and support, and research and development drive this market growth. Moreover, a major number of key player's presence, well-advanced healthcare infrastructure, and product launches & approvals would drive this market growth in this region. For instance, in June 2023, the U.S. Food and Drug Administration approved Jardiance (empagliflozin) and Synjardy (empagliflozin and metformin hydrochloride) for use in children aged 10 and older with type 2 diabetes, as part of a treatment plan that includes diet and exercise. This marks the introduction of a new class of oral medications for pediatric type 2 diabetes management.

Also, in January 2023, TheracosBio announced that the U.S. Food and Drug Administration (FDA) has approved Brenzavvy (bexagliflozin), an oral sodium-glucose cotransporter 2 (SGLT2) inhibitor. Brenzavvy is indicated as an adjunct to diet and exercise to enhance glycemic control in adults with type 2 diabetes. It is not recommended for individuals with type 1 diabetes mellitus or the treatment of diabetic ketoacidosis.

In addition, key players more focus on the treatment for type-2, and innovative launches help to drive this market growth. For instance, in August 2023, Dr. Reddy's Laboratories launched Saxagliptin and Metformin Hydrochloride Extended-Release Tablets in the U.S. market. This product is a generic equivalent of Kombiglyze XR (saxagliptin and metformin hydrochloride extended-release) tablets, which has received approval from the U.S. Food and Drug Administration (USFDA).

The Saxagliptin and Metformin Hydrochloride Extended-Release Tablets are indicated as an adjunct to diet and exercise to enhance glycemic control in adults with type 2 diabetes mellitus when treatment with both saxagliptin and metformin is deemed appropriate. The tablets are available in the following strengths: 2.5 mg/1000 mg in bottles of 60, 5 mg/500 mg, and 5 mg/1000 mg in bottles of 30 each.

Similarly, in May 2022, the U.S. Food and Drug Administration (FDA) approved Mounjaro (tirzepatide) injection from Eli Lilly and Company as a once-weekly treatment that acts as a GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist. It is indicated for use alongside diet and exercise to enhance glycemic control in adults with type 2 diabetes. However, Mounjaro has not been tested in individuals with a history of pancreatitis and is not approved for patients with type diabetes mellitus.

Market Segmentation

By Drug Type

Dipeptidyl-Peptidase 4 (DPP-4) Inhibitors

Saxagliptin

Sitagliptin

Linagliptin

Alogliptin

Alpha-glucosidase Inhibitors

Acarbose

Miglitol

Glucagon-Like Peptide-1 (GLP-1) Receptor Agonists)

Dulaglutide

Exenatide

Liraglutide

Lixisenatide

Semaglutide

Sodium-glucose Transporter 2 (SGLT2) Inhibitors

Canagliflozin

Dapagliflozin

Empagliflozin

Ertugliflozin

Meglitinides

Repaglinide

Nateglinide

Sulfonylureas

Glipizide

Glimepiride

Glyburide

Thiazolidinediones

Rosiglitazone

Pioglitazone

Biguanides (Metformin)

Bile Acid sequestrants (Colesevelam)

Amylin Mimetics (Pramlintide)

By Gender

Male

Female

By Age Group

Up to 19 years

20 - 65 years

Above 65 years

By Route of Administration

Oral

Parenteral

By Application

Glycemic Control

Cardiovascular Safety

Hypoglycemia Avoidance

Others

By Distribution Channel

Hospital Pharmacies

Retail Pharmacies

Online Pharmacies

By Region

North America

The U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Spain

Italy

Rest of Europe

South America

Brazil

Argentina

The rest of South America

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Middle East and Africa

Market Competitive Landscape

The major global players in the type 2 diabetes market include Abbott, Medtronic, Dexcom, Inc., AstraZeneca, TheracosBio, LLC, Boehringer Ingelheim International GmbH, Eli Lilly and Company., Novo Nordisk A/S, Merck & Co., Inc., and Pfizer Inc. among others.

Key Developments

In July 2024, Novo Nordisk announced that the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding the Biologics License Application for once-weekly basal insulin icodec, intended for the treatment of diabetes mellitus. Insulin icodec, marketed as Awiqli is already approved in the EU, Canada, Australia, Japan, and Switzerland for both type 1 and type 2 diabetes, and in China specifically for type 2 diabetes.

In June 2024, Dexcom, Inc. announced a major advancement in product accessibility for individuals managing Type 2 diabetes (T2D) with basal insulin injections. The company, which has been at the forefront of CGM technology for 25 years, has secured access to its Dexcom ONE sensor for approximately 100,000 T2D patients in France. The reimbursement guidelines allow individuals over the age of two who are on non-intensified insulin therapy (fewer than three injections daily) and have inadequate glycemic control (HbA1c >= 8%) to benefit from Dexcom's innovative technology.

Why Purchase the Report?

To visualize the global type 2 diabetes market segmentation based on drug type, gender, age group, route of administration, application, distribution channels, and region and understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development.

Excel data sheet with numerous data points of the type 2 diabetes market with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping is available in Excel consisting of key products of all the major players.

The global type 2 diabetes market report would provide approximately 82 tables, 91 figures, and 184 pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies