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 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
The type 2
diabetes mellitus treatment market players
include 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 .
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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