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 2025-2032

Report ID: SQMIG35J2115 | Region: Global | Published Date: October, 2024
Pages: 216 | Tables: 94 | Figures: 77

Type 2 Diabetes Market News

Novo Nordisk's Ozempic launch, semaglutide launched in July 2023, is a great improvement in the management of risk of cardiovascular events in Type 2 diabetes patients. With its once-weekly injectable GLP-1 receptor agonist, this may well be an added success in Novo Nordisk's efforts to enhance patients' outcomes and deal with diabetes-related cardiovascular problems.
Sanofi's FDA approval of Toujeo® Max SoloStar® in November 2022 is a significant development in the Type 2 diabetes industry. The launch of Toujeo® Max SoloStar®, an insulin glargine injection with three times the maximum dosage of Toujeo® SoloStar®, significantly expands Sanofi's diabetes drug portfolio. Patients with Type 2 diabetes enjoy better glucose control and greater dosage flexibility with this injection.
Eli Lilly's acquisition of Protomer Technologies in March 2021 is a strategic move toward innovative diabetic solutions. Protomer Technologies is specialized in peptide engineering. Its distinct molecular engineering platform may lead to better diabetes treatments, such as insulin that reacts to glucose. This acquisition shows Eli Lilly's dedication to creating innovative new strategies for treating Type 2 diabetes, which is promising for future therapeutic developments.

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Type 2 Diabetes Market size was valued at USD 36.87 Billion in 2023 and is poised to grow from USD 39.72 Billion in 2024 to USD 71.66 Billion by 2032, growing at a CAGR of 7.72% during the forecast period (2025-2032).

Major pharmaceutical companies such as Novo Nordisk, Eli Lilly, Sanofi, and AstraZeneca define this competitive landscape in the type 2 diabetes market because they dominate with their varieties of innovative medicines such as GLP-1 receptor agonists and SGLT2 inhibitors. These business entities focus on increasing their product offerings, improving outcomes for patients, and searching for new treatment options. Competition is becoming keener due to the emergence of digital health solutions because technical-driven companies are entering into the market. 'Novo Nordisk ', 'Sanofi ', 'Eli Lilly and Company ', 'Merck & Co., Inc. ', 'Boehringer Ingelheim ', 'AstraZeneca PLC ', 'Novartis AG ', 'GlaxoSmithKline plc ', 'Pfizer Inc. ', 'Daiichi Sankyo Company, Limited ', 'Roche Holding AG ', 'Sun Pharmaceutical Industries Ltd. ', 'Lupin Limited ', 'Dr. Reddy's Laboratories Ltd. ', 'Aurobindo Pharma Limited ', 'Medtronic ', 'B. Braun Melsungen AG ', 'Abbott Laboratories ', 'F. Hoffmann-La Roche ', 'Insulet Corporation '

Remote Monitoring and Digital Health: In the management of Type 2 diabetes, digital health solutions such as wearable technology and mobile applications are increasingly being applied. These technologies enable patients to monitor their glucose level continuously and share real-time data with healthcare providers. Remote monitoring helps patients track blood sugar levels, medication adherence, and overall health, thereby improving care through more proactive management of the disease. This leads to reduced healthcare costs along with better patient outcomes and increased engagement.

In 2022, North America was the market leader for type 2 diabetes, accounting for 35% of the revenue share. The expansion of this market is driven by the rapid rise in the prevalence of diabetes in this region. More than 29 million people in North America are thought to have diabetes at the moment, and by 2025, that figure is predicted to increase to 32 million, which will increase demand for diabetes care goods and services. Diabetes is one of the key market drivers, as more than 25 million people suffer from the disease in the US alone in 2019. North America is dominant due to its high prevalence, increasing awareness, availability of advanced therapies, and a strong healthcare system. Availability of newer pharmaceutical treatments and the increasing use of digital health solutions also add to the region's market growth.

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