Type 2 Diabetes Mellitus Treatment Market Size, Share, Growth Insights and Competitive Outlook 2021 To 2027
Type 2 Diabetes Mellitus Treatment Market Research Report: By Treatment (Drug (Insulin, Sensitizers, Sglt-2, Alpha-Glucosidase Inhibitors, Others), Devices (Blood Glucose Monitoring, Insulin Delivery Devices)), By The End User – Global Forecast Till 2027
Dialysis, Transplant), By Indication (Diabetes 1, Diabetes 2), By End User (Hospital & Clinic, Surgical Centers) – Global Forecast Till 2027
Diabetes mellitus type 2 is a metabolic disorder, characterized by high blood sugar, relative lack of insulin, and insulin resistance. The common symptoms of type 2 diabetes include constant hunger, itchy skin, weight loss, frequent urination, and others.
A number of factors such as increasing technological advancements, rising prevalence of disease, related comorbidities, unmet medical needs, improvement in the regulatory framework, and increasing government assistance, are few factors propelling the growth of the global type 2 diabetes mellitus treatment market.
However, the high cost of treatment, side-effects of available treatment options, and poor healthcare system in low or middle-income countries may hamper the growth of the market.
It is estimated that the type 2 diabetes mellitus treatment market share is expected to grow at a CAGR 8.0% during the forecast period of 2017-2023.
Some of key the players in the global type 2 diabetes mellitus treatment market are Abbott Laboratories, Acon Laboratories, Inc., Adocia, Akros Pharma, Amgen, AstraZeneca, Bayer AG, Becton, Dickinson and Company, Biocon, Boehringer Ingelheim, Daiichi Sankyo, Eli Lilly, Novartis & Co., Novo Nordisk, Peptron, Pfizer, Roche Diagnostics Ltd., Sanofi, Sunpharma, Takeda Pharmaceuticals, and others.
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The global type 2 diabetes mellitus treatment market is segmented on the basis of treatment and end user.
On the basis of the treatment, the market is classified as a drug class and devices. The drug class is further segmented into insulin, sensitizers, SGLT-2 inhibitors, alpha-glucosidase inhibitors, secretagogues, peptide analogs, others. The sub-segment of sensitizers includes thiazolidinediones and biguanides. The sub-segment of secretagogues includes sulfonylureas and non-sulfonylureas. The devices market is further segmented into blood glucose monitoring devices and insulin delivery devices. The sub-segment of blood glucose monitoring devices includes testing strips, lancets, continuous glucose monitors, self-monitoring blood glucose meters, and others. The sub-segment of insulin delivery devices includes insulin pens, insulin pumps, insulin syringes, and insulin jet injectors.
On the basis of the end user, the market is segmented into hospitals, clinics, diagnostic centers, drug stores, pharmacies, and others.
The Americas dominate the type 2 diabetes mellitus treatment market owing to the presence of patient population, a well-developed technology, high healthcare expenditure, and the presence of the leading players. Due to the rising prevalence of diabetes, various companies, and government associations are actively participating in improving diabetes care. For instance, The Merck Foundation provided funding of around USD 10,000,000 for the projects designed to improve diabetes care in the United States.
Europe holds the second position in the type 2 diabetes mellitus treatment market. It is expected that the government support towards research & development expenditure and amendments in reimbursement policies in the healthcare is likely to drive the European market. As per the guidelines suggested by German maternity, every pregnant woman can undergo glucose challenge test for the early diagnosis of Gestational diabetes mellitus, and the charges for the test are completely covered by women’s health insurance.
Asia Pacific is the fastest growing type 2 diabetes mellitus treatment market owing to a huge patient pool, increasing demand, and development in healthcare technology.
The Middle East & Africa holds the lowest share of the global market due to low development, lack of technical knowledge, and poor medical facilities.
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