Latest News- Type 2 Diabetes Market: Insulin is expected to lead the Drug Class segment during 2025-2029

The Type 2 Diabetes Market is being driven by Rising prevalence of diabetes

The Type 2 Diabetes Market is expected to grow at a CAGR of 12.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 53.8 billion. The aging population represents a significant economic burden on healthcare systems due to increasing healthcare expenditures. With population aging being a global trend, the prevalence of diabetes is anticipated to surge in both developed and developing countries. Older adults are disproportionately affected by Type 2 diabetes, primarily due to age-related insulin resistance and impaired pancreatic islet function. Age-related factors, including adiposity, sarcopenia, and physical inactivity, contribute to insulin resistance. Moreover, the beta cells of the pancreas exhibit decreased proliferative capacity and accelerated apoptosis as individuals age, exacerbating the development of Type 2 diabetes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on:

• Drug Class
  • Insulin
  • DPP-4 inhibitor
  • GLP-1 receptor agonists
  • SGLT-2 inhibitors
  • Others
• Distribution Channel
  • Retail pharmacies
  • Hospital pharmacies
  • Online pharmacies
• Delivery Mode
  • Oral
  • Injectable
  • Continuous glucose monitoring (CGM)
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising prevalence of diabetes
• Rise in prevalence of obesity and changing lifestyles
• Recent product approvals

However, the market also witnesses some limitations, which are as follows:

• Low diagnosis rate
• Rising concerns among scientific community
• Gaps in national-level diabetes management programs

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Market Scope in Type 2 Diabetes Market Research Report

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Research Analysis Overview

The Type 2 Diabetes market caters to adolescents and young adults, providing therapeutic compounds to manage complications such as cardiovascular diseases, renal problems, and neurological issues. Insulin and non-insulin medications like Jardiance, Tanzeum, and Trulicity help maintain normal blood glucose levels, alleviating symptoms such as increased thirst, urination, fatigue, blurred vision, slow-healing wounds, infections, tingling, and numbness in feet and hands. Pharmaceutical companies offer these treatments through retail pharmacies to combat hyperglycemia's effects on the heart, kidneys, eyes, blood vessels, and nerves.

Market Research Overview

The Type 2 Diabetes market is a significant segment of the global pharmaceuticals industry, encompassing entities involved in the research and development or manufacturing of therapeutic compounds for adolescents, teenagers, and young adults. Factors driving market growth include the rising prevalence of cardiovascular diseases, renal problems, and neurological complications associated with Type 2 Diabetes. Key therapeutic classes include insulin, thiazolidinediones, which act on PPAR receptors, and adiponectin-based treatments. Retail pharmacies and online platforms are essential distribution channels. The market's expansion is influenced by demographic trends, such as the aging population, with Europe and North America predicted to have a substantial proportion of citizens aged 60 years and above by 2030 and 2050, respectively. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/