Press release
Type 2 Diabetes Global Market 2024 - By Growth Oppurtunities, Size, Industry Analysis, Revenue, And Outlook By 2033
The Business Research Company's Type 2 Diabetes Global Market Report 2023 identifies Increasing rates of obesity and heart disease as the major driver for the Type 2 Diabetes market's growth in the forecast period. Obesity is a medical condition where excess body fat has accumulated to an unhealthy level, while heart disease refers to a range of conditions that affect the heart and blood vessels. Excess body weight increases the risk of insulin resistance, leading to high blood sugar levels and the development of type 2 diabetes. In contrast, high blood sugar levels can damage blood vessels and nerves that control the heart and blood vessels, leading to heart disease.
The type 2 diabetes market size has grown strongly in recent years. It will grow from $44.56 billion in 2023 to $48.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to lifestyle and dietary changes, aging population, pharmaceutical developments, public health initiatives. The type 2 diabetes market size is expected to see strong growth in the next few years. It will grow to $65.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
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Major competitors in the Type 2 Diabetes market are F. Hoffmann-La Roche AG, Merck and Co. Inc., Novartis AG, AstraZeneca PLC, Abbott Laboratories.
A key trend in the Type 2 Diabetes market includes rising geriatric population. The geriatric population refers to older adults who are 65 years and beyond. The geriatric population suffers from various diseases due to low immunity and age. Aging increases the risk of Type 2 diabetes related problems such as hypoglycemia (low blood sugar), renal failure, and heart disease which impact both acute and chronic microvascular and cardiovascular complications. For instance, in October 2021, according to published factsheet by World Health Organization, a US-based intergovernmental organization, there will be 1.4 billion individuals over the age of 60 in the world by 2030 and will increase to 2.1 billion by 2050. Thus, the rising geriatric population is driving the type 2 diabetes market.
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The Type 2 Diabetes market is segmented -
• By Drug Class: Dipeptidyl Peptidase-4 (DPP-4) Inhibitors, Glucagon-Like Peptide-1 (GLP-1) Receptor Agonists, Thiazolidinediones, Alpha-Glucosidase Inhibitors, Sulfonylureas And Other Insulin Secretagogues, Biguanides, SodiumGlucose Cotransporter 2 Inhibitors, Other Drug Classes
• By Application: Glycemic Control, Cardiovascular Safety, Hypoglycemia Avoidance, Other Applications
• By End-User: Children, Adults
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Type 2 Diabetes market.
The Business Research Company's "Global Type 2 Diabetes Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Type 2 Diabetes Market Include:
1. Executive Summary
2. Type 2 Diabetes Market Characteristics
3. Type 2 Diabetes Market Trends And Strategies
4. Type 2 Diabetes Market - Macro Economic Scenario
5. Global Type 2 Diabetes Market Size and Growth
.............
32. Global Type 2 Diabetes Market Competitive Benchmarking
33. Global Type 2 Diabetes Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Type 2 Diabetes Market
35. Type 2 Diabetes Market Future Outlook and Potential Analysis
36. Appendix
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