Type 2 Diabetes Market to Grow Rapidly, Predicts DelveInsight | Key Companies Active in the Domain

The type 2 diabetes market is anticipated to be driven in the coming years due to the rise in novel drugs and therapies and increased healthcare spending across the world. The high prevalence of the disease and the participation of key companies will bring a change in the type 2 diabetes market dynamics

LAS VEGAS, June 20, 2023 /PRNewswire/ — DelveInsight’s Type 2 Diabetes Market Insights report includes a comprehensive understanding of current treatment practices, type 2 diabetes emerging drugs, market share of individual therapies, and current and forecasted market size from 2019 to 2032, segmented into 7MM [the United States, the EU-4 (Italy, Spain, France, and Germany), the United Kingdom, and Japan].

Key Takeaways from the Type 2 Diabetes Market Report

• As per DelveInsight analysis, the type 2 diabetes market is expected to grow positively at a significant CAGR during the study period (2019–2032).
• According to the Centers for Disease Control and Prevention, more than 34 million Americans have diabetes (about 1 in 10), and approximately 90-95% of them have type 2 diabetes. Type 2 diabetes most often develops in people over age 45, but more and more children, teens, and young adults are also developing it.
• Leading type 2 diabetes companies such as Eli Lilly and Company, Regor Pharmaceuticals Inc., AstraZeneca, Eccogene, Pfizer, Sciwind Biosciences USA Co., Ltd., MediciNova, Sparrow Pharmaceuticals, HighTide Biopharma Pty Ltd, Novo Nordisk A/S, Biomea Fusion Inc., Altimmune, Inc., Novartis, Amgen, Neuraly, Inc., Carmot Therapeutics, Inc., Inventiva Pharma, Inversago Pharma Inc, Applied Therapeutics, Inc., and others are developing novel type 2 diabetes drugs that can be available in the type 2 diabetes market in the coming years.
• Some key therapies for type 2 diabetes treatment include Tirzepatide/LY3298176, Danuglipron, RGT001-075, AZD0186, ECC5004, PF-07081532, XW014, MN-001, SPI-62, HTD1801, Semaglutide, BMF-219, ALT-801, MBL949, LY3457263, AMG 133, DD01, CT-868, IVA337, INV-202, AT-001, and others.
• Several emerging type 2 diabetes therapies are in their clinical trials’ mid and late phases and are awaiting a launch to make the pipeline robust.

Discover which therapies are expected to grab the major type 2 diabetes market share @ Type 2 Diabetes Market Report

Type 2 Diabetes Overview

The most prevalent type of diabetes is type 2 diabetes, which is a disease that happens when blood glucose, commonly known as blood sugar, is too high. This type of diabetes is more common in people in their forties and fifties. It was previously known as adult-onset diabetes. However, type 2 diabetes affects children and adolescents, primarily as a result of childhood obesity. Type 2 diabetes symptoms might be so minor that they go unnoticed. The visual indications and symptoms of this clinical illness include unexplained hunger and weight loss, frequent urination, dry skin, feeling weary all the time, and so on. Fasting plasma glucose (FPG) test, A1C test, random plasma glucose (RPG), and oral glucose tolerance test are used to confirm type 2 diabetes. The normal range for A1C is less than 5.7%, fasting plasma glucose is 99 mg/dL or less, and oral glucose tolerance is 139 mg/dL or less.

Type 2 Diabetes Epidemiology Segmentation

The type 2 diabetes epidemiology section provides insights into the historical and current type 2 diabetes patient pool and forecasted trends for individual seven major countries. It helps to recognize the causes of current and forecasted trends by exploring numerous studies and views of key opinion leaders.

The type 2 diabetes market report proffers epidemiological analysis for the study period 2019–2032 in the 7MM segmented into:

• Total Type 2 Diabetes Prevalent Cases 
• Total Type 2 Diabetes Diagnosed Prevalent Cases
• Total Type 2 Diabetes Gender-specific Prevalent Cases
• Total Type 2 Diabetes Age-specific Prevalent Diagnosed Cases
• Type 2 Diabetes Treated Cases

Type 2 Diabetes Treatment Market 

Given the chronic and severe nature of type 1 diabetes and type 2 diabetes, the therapeutic approach for them is extremely thorough; regularisation of glucose metabolism and control of risk factors (e.g., arterial hypertension) is the primary therapy objective for type 2 diabetes. Metformin, the most widely prescribed initial treatment for the illness, decreases blood sugar levels in patients by improving how their bodies manage insulin. Many other medications, such as alpha-glucosidase inhibitors, Amylin analogs or agonists, and sodium-glucose cotransporter-2 inhibitors, are used for type 2 diabetes treatment.

Finerenone, the first nonsteroidal, selective mineralocorticoid receptor (MR) antagonist marketed by Bayer under the brand name Kerendia, received FDA clearance in July 2021. The FDA approved finerenone based on the good results of the pivotal Phase III FIDELIO-DKD research, which was presented during the American Society of Nephrology’s (ASN) Kidney Week Reimagined 2020. Finerenone was also authorized by the European Medicines Agency (EMA) in February 2022 to treat chronic renal disease in individuals with type 2 diabetes.

Sumitomo Dainippon Pharma announced the approval of Twymeeg (imegliminhydrochloride) for the treatment of type 2 diabetes in Japan in June 2021. Twymeeg is a first-in-class medication with a novel dual mode of action for the treatment of Type 2 Diabetes throughout the existing treatment paradigm, both as a monotherapy and as an adjunct to conventional glucose-lowering medicines. The medication was developed in conjunction with Poxel.

To know more about type 2 diabetes treatment, visit @ Type 2 Diabetes Treatment Drugs 

Key Type 2 Diabetes Therapies and Companies

• Tirzepatide/LY3298176: Eli Lilly and Company
• Danuglipron: Pfizer
• RGT001-075: Regor Pharmaceuticals Inc.
• AZD0186: AstraZeneca
• ECC5004: Eccogene
• PF-07081532: Pfizer
• XW014: Sciwind Biosciences USA Co., Ltd.
• MN-001: MediciNova
• SPI-62: Sparrow Pharmaceuticals
• HTD1801: HighTide Biopharma Pty Ltd
• Semaglutide: Novo Nordisk A/S
• BMF-219: Biomea Fusion Inc.
• ALT-801: Altimmune, Inc.
• MBL949: Novartis
• LY3457263: Eli Lilly and Company
• AMG 133: Amgen
• DD01: Neuraly, Inc.
• CT-868: Carmot Therapeutics, Inc.
• IVA337: Inventiva Pharma
• INV-202: Inversago Pharma Inc
• AT-001: Applied Therapeutics, Inc.

Learn more about the FDA-approved drugs for type 2 diabetes @ Drugs for Type 2 Diabetes Treatment 

Type 2 Diabetes Market Dynamics

The dynamics of the type 2 diabetes market are expected to change in the coming years. The expected introduction of emerging therapies with improved efficacy, more awareness initiatives programs, and a further improvement in the diagnosis rate are likely to boost the growth of the type 2 diabetes market in the 7MM. Moreover, the pipeline for type 2 diabetes is quite robust; many prospective therapies are being researched for type 2 diabetes treatment, and it is safe to expect that the type 2 diabetes treatment space will have a substantial impact on the type 2 diabetes market throughout the forecast period. Moreover, the available therapeutics treatment options in the type 2 diabetes landscape aim to provide a cure to the patients suffering from this indication; however, there are several challenges that are yet to be tackled.

However, several factors are impeding the growth of the type 2 diabetes market. The type 2 diabetes market growth may be offset by failures and discontinuation of emerging therapies, unaffordable pricing, market access and reimbursement issues, and a shortage of healthcare specialists. In addition, the undiagnosed, unreported cases and the unawareness about the disease may also impact the type 2 diabetes market growth. 

Scope of the Type 2 Diabetes Market Report

• Therapeutic Assessment: Type 2 Diabetes current marketed and emerging therapies
• Type 2 Diabetes Market Dynamics: Attribute Analysis of Emerging Type 2 Diabetes Drugs
• Competitive Intelligence Analysis: SWOT analysis and Market entry strategies
• Unmet Needs, KOL’s Views, Analyst’s Views, Type 2 Diabetes Market Access and Reimbursement

Discover more about type 2 diabetes drugs in development @ Type 2 Diabetes Clinical Trials

Table of Contents

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SOURCE DelveInsight Business Research, LLP