Type 2 diabetes (T2D) is a chronic disease that affects bodys blood sugar level. Elevated blood sugar level (hyperglycemia) causes detrimental effects on heart, kidneys, eyes, blood vessels, and nerves.
Type 2 Diabetes Market Leading Key Players:
The key players operating in the market include Eli Lilly and Co., Sanofi Aventis A/S, Novo Nordisk, Merck & Co., Inc., Chugai Pharmaceutical Co., Bristol-Myers Squibb, Pfizer Inc., Bayer AG, GlaxoSmithKline Plc., and AstraZeneca Plc.
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Type 2 Diabetes Market Driving Factor:
The major factor that drive the growth of the global type 2 diabetes (T2D) market are increase in prevalence of T2D disease globally. As per NCBI, 89 million cases of T2DM were recorded in 2014, and its prevalence is expected to reach to 330 million cases by 2022. Moreover, advancements in diabetic medications by pharmaceutical manufacturers fuel the market growth. Jardiance, a sodiumglucose cotransporter 2 inhibitor, and Tanzeum & Trulicity, two glucagon-like peptide-1 receptor agonists are the newest medications introduced in the market. However, lack of awareness among patients towards the availability of such medications restrains the market growth. Conversely, unmet medical needs in emerging economies are expected to provide lucrative growth opportunities for the market.
Type 2 Diabetes Market Segments:
The report segments the global type 2 diabetes market based on drug class, application, and geography. On the basis of drug class, the market is categorized into dipeptidyl peptidase-4 (DPP-4) inhibitors, glucagon-like peptide-1 (GLP-1) receptor agonists, thiazolidinediones, alpha-glucosidase inhibitors, sulfonylureas & other insulin secretagogues, biguanides, and sodiumglucose cotransporter 2 inhibitors. In terms of application, it is divided into glycemic control, cardiovascular safety, hypoglycemia avoidance, and others. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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- This report provides an extensive analysis of the current & emerging market trends and dynamics in the global type 2 diabetes market.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities across the geographies.
- This report entails the detailed quantitative analysis of the current market and estimations from 2016 to 2023 to identify the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the market growth is provided in the report.
- Region- and country-wise market conditions are comprehensively analyzed in the report.