The Type 2 Diabetes Mellitus Treatment Market Overview And Analysis By Treatment, By The End User – Forecast Till 2030
The Type 2 Diabetes Mellitus Treatment Market is expected to reach USD 39,673 Million by 2030 at 9.2% CAGR during the forecast period 2022-2030.
Type 2 diabetes mellitus is a disorder in which the demand for insulin in the body is extended to retain glucose levels. Hyperglycemia is a major symptom of the disorder. It is also known as adult-onset diabetes.
Market Scope
The global type 2 diabetes mellitus treatment market size is expected to expand at a CAGR of 8.0% during the forecast period. The large prevalence of diabetes is the major driver of the market. According to the Centers for Disease Control & Prevention (CDC), close to 30.3 million people in the U.S. were diagnosed with diabetes in 2015. Increasing cases of obesity, overnment funding, and establishment of regulations can drive the market demand till the end of the forecast period. The outbreak of the COVID-19 virus has put diabetics at higher risk of contracting the disease. According to a survey in the U.K., out of 23,804 patients dying from the virus, nearly 32% had type 2 diabetes.
New research conducted by reputed organizations and healthcare institutes for lowering the possibility of attaining type 2 diabetes can bode well for the market. According to the team by Harvard T.H. Chan School of Public Health, consumption of whole grains such as bulgur, millet, buckwheat, and brown rice can reduce their risk by 29%.
Segmentation
The global type 2 diabetes mellitus treatment market is segmented on the basis of treatment and end user.
On the basis of treatment, the market is classified into drug class and devices. The drug class is further segmented into secretagogues, peptide analogs, insulin, sensitizers, SGLT-2 inhibitors, alpha-glucosidase inhibitors, others. The sub-segment of sensitizers includes thiazolidinediones and biguanides. Secretagogues include sulfonylureas and non-sulfonylureas. The devices segment is further segmented into blood glucose monitoring devices and insulin delivery devices. The sub-segment of blood glucose monitoring devices includes continuous glucose monitors, self-monitoring blood glucose meters, testing strips, lancets, and others. The sub-segment of insulin delivery devices includes insulin jet injectors, insulin pens, insulin pumps, and insulin syringes.
On the basis of the end user, the market is segmented into hospitals, clinics, pharmacies, diagnostic centers, drug stores, and others.
Regional Outlook
The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are regions considered in the global type 2 diabetes mellitus treatment market report.
The Americas dominate the type 2 diabetes mellitus treatment market owing to the presence of a large patient pool, a well-developed technology, high healthcare expenditure, and the presence of prominent players. Due to the rising prevalence of diabetes, various companies and government associations are actively participating in improving diabetes care. Prescription of non-insulin therapeutics as the primary line of treatment can bode well for the regional market.
Europe holds the second position in the global type 2 diabetes mellitus treatment market. It is expected to sustain the position owing to government support towards research & development expenditure and amendments in reimbursement policies in the healthcare. As per Germany maternity guidelines, every pregnant woman can undergo a glucose challenge test for the early diagnosis of gestational diabetes mellitus and the charges for the test are covered by women’s health insurance.
APAC is the fastest growing type 2 diabetes mellitus treatment market owing to a huge patient pool, increasing demand for preventive treatment, and developments in healthcare technology.
Competitive Outlook
Merck, Boehringer Ingelheim, Acon Laboratories, Inc., AstraZeneca, Akros Pharma, Bayer AG, Biocon, Takeda Pharmaceuticals, Sunpharma, Roche Diagnostics Ltd., Adocia, Peptron, Amgen, Novo Nordisk, Abbott Laboratories, Novartis & Co., Becton, Dickinson and Company, Pfizer, Eli Lilly, Sanofi, Daiichi Sankyo, and others are key players of the global type 2 diabetes mellitus treatment market.
Development of novel drugs for treatment of type 2 diabetes can prove beneficial to players in the market. According to researchers at the University of Alabama, a new molecule drug named SRI-37330 inhibits the expression of proteins known as TXNIP. Preclinical tests showcasing the positive effects on lean and obese individuals with diabetes can lead to its commercialization.
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