Global Type-2 Diabetes Market Outlook for 2023-28
Markntel Advisors has conducted a comprehensive study on the Global Type-2 Diabetes Market is projected to grow at a CAGR of around 8.0% during the forecast period, i.e., 2023-28. The market growth is favorably fostered by the increasing prevalence of type 2 diabetes stemming from unhealthy lifestyles, physical inactivity, and obesity. According to WHO, around 422 million people worldwide have diabetes, out of which the majority live in low-and middle-income countries. In addition, diabetes accounts for more than 1.5 million deaths each year. The number of cases and the prevalence of diabetes have witnessed expansion over the past few decades. In addition, the rising geriatric population, along with the surging population with type-1 diabetes and the lack of proper healthcare infrastructure in emerging countries, are projected to boost the growth of the type-2 Diabetes market globally in the forthcoming years.
In addition, the Global Type-2 Diabetes Market Study highlights the impact of domestic and localized market players, emerging revenue opportunities, strategic market growth analysis, product approvals, product launches, geographic expansions, and technological innovations. The objective of the report is to provide a detailed understanding of the industry, including its features, factors, and elements, along with insights into the regulatory scenario & regional dynamics that may impact market growth.
Growth Opportunities: Inclusion of The New Therapeutic Compounds
The introduction of new medicinal substances with enhanced efficacy and safety into the type 2 diabetes market globally has created the potential for the creation of new treatments. Therapeutic treatments with a unique MoA are offered by drugs such DPP4 inhibitors, GLP-1 receptor agonists, SGLT2 inhibitors, colesevelam, and bromocriptine QR. Additionally, they stop weight gain and lessen the chance of hypoglycemia. Despite the fact that not everyone should take these medications, they give medical professionals a number of alternatives for tailoring patient care and improving healthcare. The introduction of biosimilar pharmaceuticals is anticipated to increase at a quick rate over the anticipated period because of their low cost, strict product quality control standards, and straightforward production processes.
Possible Restraint: Inadequate Healthcare Infrastructure Worldwide
The infrastructure for healthcare in some diabetic cases is insufficient. It is a significant barrier for the market for type 2 diabetes. Weak healthcare infrastructure hinders drug discovery, research, and other aspects of the healthcare business. It may be impossible to expand the type 2 diabetes market in some areas due to a lack of health infrastructure. Furthermore, demand can be lower in some locations. As a result, the development of the type 2 diabetes market is being constrained by a lack of healthcare infrastructure in various countries.
Global Type-2 Diabetes Industry Breakdown: Key Revenue Generating Segments
To facilitate focused analysis, the Type-2 Diabetes Market has been divided into different segments, providing shareholders with the opportunity to identify their areas of interest and the most profitable opportunities within the market. By incorporating technical trends, comprehensive analysis of the downstream & upstream value chain, as well as Porter’s five forces analysis, we have diligently forecasted the industry landscape for specific regions/countries, presenting critical pointers for informed decision-making. The segments are as follows:
-By Drug Type
-Dipeptidyl Peptidase-4 (DPP-4) Inhibitors
-Alpha-glucosidase Inhibitors
-Biguanides
-Glucagon-Like Peptide-1 (GLP-1) Receptor Agonists
-Sodium-Glucose Cotransporter 2 Inhibitors (SGLT2)
-Sulfonylureas
-Other (Thiazolidinediones, Meglitinides, Glitazones, etc.)
-By Gender
-Male
-Female
-By Age Group
-Upto 19 years
-20 – 65 years
-Above 65 years
-By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
Each sections offer valuable insights into the Type-2 Diabetes Market. The report includes essential pillars of the industry study, such as drivers, restraints, opportunities, and challenges. The report also provides information on industry overview, specifications, definitions, suppliers, R&D status, cost structure analysis, sources, and technological advancements, potential for improvement, applications, among others.
Recent Developments in the Global Type-2 Diabetes Market
- In August 2022, AstraZeneca’s diabetes drug Farmiga exhibits significant reductions in hospitalization and death risks
- In June 2022, AstraZeneca’s Bydureon BCise, an exenatide 2 mg prolonged-release suspension for injection in a pre-filled pen, has been approved to include in the treatment of type-2 diabetes (T2D) in children and adolescents (10 years and above) in the European Union (EU).
Competitive Analysis of the Global Type-2 Diabetes Industry
-Merck & Co
-AstraZeneca
-Novo Nordisk
-Bristol-Myers Squibb
-Eli Lilly
-Sanofi
-Boehringer Ingelheim
-Pfizer
-Takeda
-Biocon
-Johnson & Johnson
Global Type-2 Diabetes Market Research Report Answers the Following Key Questions
- How big is the Global Type-2 Diabetes Market?
- What is the projected growth rate or CAGR of the Global Type-2 Diabetes Market during 2023-28?
- What are the key trends or growth opportunities for the key players in the Global Type-2 Diabetes Market?
- Which ‘segment’ seems promising for companies operating in the Global Type-2 Diabetes Market?
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