Type 2 Diabetes Market Size, Share, Growth Analysis, By Drug Class(Dipeptidyl Peptidase-4 Inhibitors, Glucagon-like Peptide 1 Receptor Agonists, Biguanides, Sodium-Glucose Cotransporter 2 (SGLT2) Inhibitors), By Route of Administration(Oral, Parenteral), By Distribution Channel(Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By End User(Homecare Settings, Hospitals & Clinics, Academic & Research Institutes, Others), By Region - Industry Forecast 2024-2031

With a 35% revenue share, North America led the type 2 diabetes market in 2022. The rising incidence of diabetes is fueling the type 2 diabetes market's expansion in the area. In North America, the number of individuals with diabetes is estimated to be over 29 million, and by 2025, it is predicted to reach 32 million. There were more than 25 million diabetics in the United States alone in 2019. Conversely, during the projection period, Europe is anticipated to develop at the fastest rate. In the European region, the UK leads the market for type 2 diabetes. The type 2 diabetes market is expanding in the European region due to the rising number of type 2 diabetic patients.

Asia Pacific, Latin America, and the Middle East and Africa are developing as major regions with great development potential in the global market for Type 2 diabetes. Asia Pacific is the region with the quickest rate of growth among them, thanks to factors including increasing urbanization, sedentary lifestyles, and dietary changes that have increased the incidence of diabetes. Due to ageing populations and rising obesity rates, Latin America follows closely. The market is growing throughout the Middle East and Africa due to the region's fast urbanization and the adoption of Western eating habits. Pharmaceutical businesses and healthcare providers looking to address the rising prevalence of Type 2 diabetes can find profitable prospects in these regions.