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

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).

The major factor driving the type 2 diabetes market growth forward is the rising incidence of T2D across the globe. As the incidence of T2D worldwide continues to grow, the global needs for effective treatment options continue to increase accordingly. Moreover, pharmaceutical companies are supporting the growth of the market by developing new drugs. Importantly, new drugs such as sodium-glucose cotransporter-2 (SGLT2) inhibitors such as Jardiance and glucagon-like peptide-1 receptor agonists Tanzeum and Trulicity have provided significant advances in the management of diabetes. These have increasingly been gaining popularity for they provide better alternatives for treatment to patients with fewer side effects. Nevertheless, the availability and these new treatments' advantages are completely unknown to patients, which is a problem for the market, and could prevent their widespread adoption. In these countries, however, rising medical requirements provide a prime future scope for the industry in terms of expansion. Currently, people are in immediate need of affordable and highly advanced treatment opportunities which is significantly increasing with increasing number of diabetics there. Technological advancements are mainly transforming the future of treatment of diabetes by providing various customized and elastic alternatives. With increasing use of mobile health applications, related devices, and cloud-based enterprise solutions, the market is increasing because it has brought the most effective and accessible treatments to patients across the globe.