Frequently asked questions
The global type 2 diabetes market was valued at USD 29945.8 Million in 2022.
The type 2 diabetes market is expected to grow at a CAGR of 8.8% between 2023 and 2030, reaching USD 58798.6 Million in 2030.
Insulin therapy is the leading segment by medications and therapies, holding over 20% share in value in 2022.
The continuous glucose monitoring (CGM) systems segment governs the global demand for type 2 diabetes, holding a massive share of over 40% in 2022.
The diabetic nephropathy segment will post the highest CAGR over the projection period.
With more than one-third of the market in 2022, North America is driving the expansion of the type 2 diabetes industry.
The top players include Boehringer Ingelheim International GmbH, AstraZeneca PLC, Daiichi Sankyo Co. Ltd, Amgen Inc, Eli Lilly & Co., Novartis AG, Merck & Co. Inc, Sanofi SA, Novo Nordisk AS, Takeda Pharmaceutical Co. Ltd, and Others.
The major market drivers of the type 2 diabetes industry include rising diabetes prevalence, pharmaceutical and technological innovations, and increasing awareness and access to healthcare.
The major market restraints of the type 2 diabetes industry include high healthcare costs and healthcare disparities, which limit access to care for some populations.
The major market opportunities of the type 2 diabetes industry include advancements in personalized medicine and precision diabetology, as well as the growth of digital health and telemedicine solutions for more effective and patient-centered care.