July 22, 2020
As per the research report titled ’Global Type-2 Diabetes Market Analysis, 2020’, available with Market Study Report LLC, global type-2 diabetes market is expected to register a CAGR of 8% over 2020-2025.
Growing prevalence of diabetes across the globe owing to factors such sedentary lifestyle, unhealthy diet, and obesity, coupled with rising geriatric population who are more susceptible to chronic diseases are some of the factors contributing to the growth of global type-2 diabetes market.
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Based on drug type, global type-2 diabetes market is classified into dipeptidyl peptidase-4 (DPP-4) inhibitors, sodium-glucose cotransporter 2 inhibitors (SGLT2), biguanides, alpha-glucosidase inhibitors, glucagon-like peptide-1 (GLP-1) receptor agonists, sulfonylureas, and others. Moving on to the age group, the market is categorized into up to 19 years, between 20 and 65 years, and above 65 years.
Speaking of the gender types, women segment currently accounts for significant share of global type-2 market on account of the elevated risk of type-2 diabetes among pregnant women. This is mainly due to increased chances of developing gestational diabetes which arises from the adverse outcomes of pregnancy. Furthermore, women with gestational diabetes are likely to face type-2 diabetes usually in three to six years after delivery. Additionally, exposure to hyperglycemia in the womb causes children to be overweight and increases their risks of acquiring type-2 diabetes in the ensuing years. As per reports published by IDF (International Diabetes Federation), nearly 15.8% of live births were affected by hyperglycemia in the year 2019.
Considering the regional landscape, global type-2 diabetes market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. Among these, North America grasped majority market share in 2020, owing to rising obesity rate in the region, which is a precursor to type-2 diabetes. Additionally, each year, more than 5000 cases of type-2 diabetes are diagnosed among people who are aged below 20 years.
Parallelly, Asia-Pacific type-2 diabetes market also witnessed substantial growth due to expanding elderly population, changing lifestyles, and increasing obesity in the region
Major companies operating in global type-2 diabetes market are Merck & Co., Inc., Novo Nordisk A/S, AstraZeneca PLC, Eli Lilly and Company, Bristol Myers Squibb Company, Boehringer Ingelheim International GmbH, Sanofi S.A., Takeda Pharmaceutical Company Limited, Pfizer Inc., Biocon Limited, and Johnson & Johnson.