Type 2 Diabetes Treatment Market Size Share Growth Trends and Forecast Analysis 2024-2032

Type 2 Diabetes Treatment Market Valuation – 2024-2031

Advances in medical technology are paving the way for more efficient, user-friendly, and tailored medicines. This includes continuous glucose monitoring technologies, new insulin administration mechanisms, and tailored treatment strategies. Thus, the advanced technologies in the healthcare sector are driving the market size to surpass USD 34.44 Billion in 2024 to reach a valuation of USD 70 Billion by 2031.

Increased public awareness of diabetes and its management choices encourages patients to seek early diagnosis and treatment. The increasing awareness of diabetes treatment is enabling the type 2 diabetes treatment market to grow at a CAGR of 8.20% from 2024 to 2031.

Type 2 Diabetes Treatment Market: Definition/ Overview

Type 2 Diabetes Treatment is not a cure for type 2 diabetes disease, but it manages the treatment for the long term. This entails a multifaceted approach to keeping blood sugar levels within a safe range and avoiding problems. Type 2 diabetes, characterized by the body’s inability to efficiently use or generate insulin, poses a serious challenge to global healthcare systems. This increased prevalence results in a larger patient pool seeking better treatment options, moving the market ahead.

The glycated hemoglobin (A1C) test is most commonly used to identify type 2 diabetes. This blood test measures the average blood sugar level during the previous two to three months. Type 2 diabetes occurs in people under the age of 35 who are overweight or obese and have at least one risk factor for diabetes. Women who have experienced gestational diabetes.  People who have been diagnosed as prediabetic. Children who are overweight or obese have a family history of type 2 diabetes or other risk factors.

Type 2 diabetes chronic illness, defined by elevated blood sugar levels, necessitates a proactive approach to maintaining health and avoiding consequences. Fortunately, the landscape of Type 2 diabetes therapy is continually changing, with new and improved alternatives for effective blood sugar control and a higher quality of life. Emphasizing the condition’s prevalence promotes relatability and emphasizes the significance of existing treatment choices. Highlighting a proactive management approach encourages the reader to investigate the various treatment options. The focus on treatment progression piques the reader’s interest in the most recent advances in Type 2 diabetes care.

How the Increasing Prevalence of Type 2 Diabetes is Driving the Growth of the Type 2 Diabetes Treatment Market?

The escalating prevalence of type 2 diabetes globally is fueling the demand for the type 2 diabetes treatment market. As the prevalence of type 2 diabetes rises, there is an increasing need for interventions that may successfully address the condition’s complex problems. This emphasizes the crucial need for developing and implementing novel treatment alternatives to address the changing demands of patients worldwide. For instance, according to the in Australia in 2022 around 87.6% of people were diagnosed with type 2 diabetes. According to the American Diabetic Association women with Gestational Diabetes Mellitus (GDM) have a high risk of developing type 2 diabetes mellitus in the future.

In addition, the increase in GDM in women after pregnancy is also driving the growth of the type 2 diabetes treatment market. According, to the Report in 2020 the overall rate of GDM was estimated to be 7.8% in women after pregnancy.

The growing emphasis on investing in R&D activities to pioneer new diabetic treatments. This increased investment indicates a shared commitment to improving patient outcomes and minimizing diabetes’ socioeconomic impact on individuals and societies alike. The government initiatives by developing the healthcare infrastructure, such as in 2023 United States announced the investment of USD 5 Billion for diseases such as diabetes and cancer. has allocated around USD 10.69 Billion for the healthcare sector in the 2023 budget. By prioritizing the development of novel medicines, healthcare stakeholders hope to improve the quality of care accessible to diabetics, thereby reducing long-term health implications and associated healthcare expenditures.

The development of new classes of diabetes drugs not only improves blood sugar regulation, but also provides additional benefits such as weight management and cardiovascular risk reduction. These developments constitute a huge step forward in diabetes care, providing patients with a more comprehensive treatment plan. The rise of digital health technologies is changing the face of diabetes care. Telemedicine, diabetes-specific mobile applications, and remote patient monitoring solutions are becoming increasingly popular. These technologies empower diabetics by allowing them to easily access healthcare services and check their condition in real-time. Patients can now actively participate in self-management while receiving timely information and assistance from healthcare experts, resulting in increased adherence to treatment regimens and improved health outcomes.

Inadequate comprehension of the severity of diabetes and the importance of following medication regimens can drastically reduce treatment success.  The patients can have difficulty navigating the complexity of managing a chronic condition like diabetes, resulting in concerns such as medication tiredness or trouble adhering to suggested treatment programs. For instance, in around 70% of the population affected by diabetes does not know they have diabetes.

How the Lack of Awareness and High Cost of Treatment are Impeding the Growth of the Type 2 Diabetes Treatment Market in Emerging Countries?

Lack of information about the severity of diabetes and the importance of constant medication adherence can lead to poor blood sugar control and an increased risk of complications. Individuals with diabetes must understand the potential consequences of non-adherence, which may include worsening symptoms, disease progression, and increased susceptibility to associated health complications such as cardiovascular disease, neuropathy, and kidney dysfunction. In addition, the high cost of treatment is a hurdle to the growth of the market. For instance, in Canada, the cost of type 2 diabetes treatment is USD 76 to USD 10,014.

Diabetes drugs, insulin, and critical blood glucose monitoring supplies are often too expensive for many patients, particularly those living in low- and middle-income nations. This financial burden can be a significant barrier to receiving critical therapies and monitoring tools, ultimately leading to drug adherence issues and poor health outcomes. Individuals with diabetes who live in areas with limited healthcare services and high out-of-pocket expenses for prescriptions and supplies may confront challenging decisions about how to utilize their limited financial resources. For instance, in in 2018, the public sector spent roughly ZAR 2.7 billion on diagnosed T2DM patients and ZAR 21.8 billion on undiagnosed patients combined. In real terms, the 2030 cost of all T2DM cases is expected to be ZAR 35.1 billion. Approximately 51% of these predicted 2030 expenses are attributed to T2DM management, with 49% attributed to comorbidities. As a result, some patients may be compelled to discontinue or limit their prescriptions, jeopardizing their ability to appropriately manage their illness and maintain optimal blood glucose levels.

Social determinants of health include a variety of environmental, economic, and social elements that affect people’s health outcomes. Individuals living in places with limited access to inexpensive and nutritious food options may find it cumbersome to make healthy dietary choices. Food insecurity, a lack of mobility to grocery stores that sell fresh produce, and the abundance of fast food restaurants may all contribute to poor dietary patterns in these communities, aggravating the challenges of properly controlling Type 2 diabetes.

Category-Wise Acumens

How Demand for Delivery Systems is Boosting Sales of Insulin Pumps ?

The insulin pumps segment is showing significant growth in the device category, which is escalating the growth of the type 2 diabetes treatment market. Insulin pumps constantly provide rapid-acting insulin throughout the day, replicating a healthy pancreas’ basal insulin secretion rate. This continuous delivery contributes to stable blood sugar levels between meals and overnight, lowering the risk of hyperglycemia and hypoglycemia. Insulin pumps allow users to set individualized basal insulin rates to meet their specific insulin needs. This function allows for exact adjustments to insulin delivery based on factors such as exercise level, metabolic changes, and circadian cycles, resulting in optimal glycemic management.

In addition, many current insulin pumps include connectivity capabilities that allow remote monitoring and data sharing with healthcare practitioners and caregivers. Real-time monitoring of insulin administration and glucose levels enables rapid modifications to treatment regimens and provides vital insights into diabetes care. Insulin pumps provide flexibility in bolus dosage, allowing users to rapidly and conveniently give insulin to cover carbohydrate intake at mealtimes or rectify elevated blood sugar levels. Bolus dosages can be programmed manually or computed automatically using pre-determined insulin-to-carbohydrate ratios and adjustment factors.

Some insulin pumps work with CGM systems, allowing for the seamless integration of insulin delivery and glucose monitoring. This interface enables automated insulin delivery adjustments based on real-time glucose measurements, resulting in better glycemic control and a lower risk of hypoglycemia.

How Insulin Glycemic Controlling is Escalating the Growth of Insulin Segment in the Type 2 Diabetes Treatment Market?

The insulin segment is experiencing substantial growth in the type 2 diabetes treatment market. Insulin is the most effective blood sugar-lowering medication available. When oral treatments fail to keep blood sugar levels in a healthy range, insulin injections can offer the extra boost required for optimal glycemic control. This reduces the likelihood of long-term diabetic problems. Stress and inflammation from sickness or surgery can cause high blood sugar levels. Temporary insulin administration helps to keep glycemic levels stable during these times, reducing problems and boosting recovery. Gestational diabetes, a disorder that develops during pregnancy, frequently requires insulin therapy to safeguard the health of both the mother and the developing baby.

Insulin regulates blood sugar levels, lowering the risk of problems during pregnancy and childbirth. In circumstances where Type 2 diabetes advances quickly, insulin may be required to restore control of blood sugar levels. This intervention is critical for preventing further deterioration in health and reducing the risk of complications associated with uncontrolled diabetes.

Gain Access to Type 2 Diabetes Treatment Market Report Methodology

Country/Region-wise Acumens

How the Increasing Prevalence of Diabetes and Rising Awareness of Healthcare Professionals is Driving the Growth of North America’s Type 2 Diabetes Treatment Market?

North America is substantially leading in the type 2 diabetes treatment market and is expected to continue its growth during the forecast period. There is a growing awareness among healthcare professionals and patients about the benefits of new diabetic treatments. This increasing awareness has sparked an interest in researching and implementing newer pharmaceutical treatments for treating the illness.

In addition, the prevalence of diabetes is increasing in North America, in regions such as Canada, the United States Mexico, etc., making it a major public health concern. For instance, in , there are 90% of cases of type 2 diabetes, and 4,118,000 people were diagnosed with type 2 diabetes in 2023.  As the number of people diagnosed with diabetes grows, there is a greater need for efficient treatment solutions to manage the disease’s rising burden. This rising prevalence emphasizes the critical need for innovations in diabetes care and motivates the quest for new therapeutic strategies.

In depression increases the likelihood of acquiring type 2 diabetes by 40% to 60%. Type 2 diabetes is caused by a mix of individual, societal, environmental, and hereditary variables. In June 2021, Bill C-237, An Act to Establish a National Diabetes Framework, was signed into law in Canada. This necessitates stakeholder consultations by the Federal Minister of Health to build a national framework aimed at lowering the risk of type 2 diabetes and improving treatment for all diabetics.

Competitive Landscape

The competitive landscape of the Type 2 Diabetes Treatment Market is constantly evolving. Companies that can successfully navigate these challenges, capitalize on emerging trends, and deliver innovative and cost-effective solutions will be well-positioned for long-term success in this dynamic market.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in type 2 diabetes treatment market include:

• Bayer AG
• Abbott Laboratories, Inc.
• GlaxoSmithKline
• Eli Lilly and Co.
• PLC
• Johnson & Johnson Services, Inc.
• Merck & Co.
• Pfizer Inc.
• AstraZeneca
• PLC, Becton
• Dickinson and Co.
• Hoffmann-La Roche Ltd.

Latest Developments:

• In March 2024, Abbott Laboratories Inc., announced the new findings from two real-world studies1, 2 reveal that persons with Type 2 diabetes who used GLP-1 drugs and FreeStyle Libre equipment together improved their HbA1c more than those who simply used GLP-1 medications.
• In June 2023, Pfizer, announced decision to advance one oral late-stage glucagon-like peptide-1 receptor agonist (GLP-1-RA) candidate into clinical development for the possible treatment of people with obesity and Type 2 diabetes mellitus (T2DM).
• In November 2023, Bayer AG announced the launch of Digital Patient Support Package, named My Kidney Assistant, created to provide type 2 diabetes (T2D) patients with information and services to help them monitor and improve their kidney function.
• In January 2020, Trijardy XR announced the approval of (empagliflozin/linagliptin/metformin hydrochloride extended-release tablets) by the US Food and Drug Administration to reduce blood sugar in individuals with type 2 diabetes. Trinary XR combines three Type 2 diabetes drugs into a single tablet.

Report Scope

Type 2 Diabetes Treatment Market, By Category

Drug Glass:

• Insulin
• Non-Insulin

Devices:

• Insulin Pumps
• Insulin Pen
• Blood Glucose Meters

Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research:

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