Type 2 Diabetes Drugs And Devices Market Size (2024 - 2029)

Type 2 Diabetes Drugs And Devices Market Analysis

The Type 2 Diabetes Drugs And Devices Market size is estimated at USD 39 billion in 2024, and is expected to reach USD 61 billion by 2029, growing at a CAGR of greater than 9.20% during the forecast period (2024-2029).

People with diabetes mellitus had a greater risk of contracting COVID-19 infection. Type 2 diabetes mellitus patients had increased chances of pulmonary damage following SARS-COV-2 infection. The hyperglycemic state was an important prognostic factor in diabetic patients exposed to SARS-CoV-2. The increased severity was associated with chronic inflammation and immune system impairment in patients with Type 2 diabetes. Therefore, there was an urgent need to control elevated blood glucose control by proper monitoring and management to avoid any complications. Thus, the market continued to grow during the pandemic, offset by supply chain issues due to lockdown restrictions in various countries around the world.

Insulin is a hormone that controls blood sugar levels by signaling the liver muscle and fat cells to take in glucose from the blood. It helps cells take in glucose to be used for energy. Type 2 diabetes develops when the body does not use insulin efficiently and gradually loses the ability to make enough insulin. In type 2 diabetes, the body’s cells do not respond effectively to insulin, known as insulin resistance, which causes glucose to stay in the blood, leading to a higher-than-normal level of glucose in the blood, known as hyperglycemia.

Type 2 diabetes is a global burden disease and one of the leading causes of cardiovascular complications, which has led to the development of treatment approach options beyond insulin that also provide beneficial cardiovascular effects. The pharmacological approach has progressed from biguanides to a wide spectrum of medications that provide an additional beneficial effect. Various manufacturers are working on bringing novel antidiabetic drug classes capable of acting on several levels simultaneously.

Furthermore, various government and non-government initiatives are being launched to support patients with type 2 diabetes, which are likely to improve the awareness of patients with diabetes and, subsequently, the adoption of treatment for diabetes. For instance, the American Association of Clinical Endocrinology launched a Consensus Statement in May 2023 on a comprehensive type 2 Diabetes Management Algorithm that provides concise visual guidance in the form of algorithms to assist with clinical decision-making for the management of persons with type 2 diabetes mellitus and related comorbidities and complications. It incorporates newer therapies and management approaches that build on previous versions of the algorithm. These factors are expected to boost the market studied.

Type 2 Diabetes Drugs And Devices Industry Segmentation

Type 2 diabetes is a condition that causes the level of sugar in the blood to become too high. The Type 2 diabetes drugs and devices market is segmented into management devices (insulin pumps, insulin syringes, insulin cartridges, disposable pens, and jet injectors), monitoring devices (self-monitoring blood glucose and continuous glucose monitoring), drugs (insulin, oral anti-diabetic drugs, non-insulin injectable drugs, and combination drugs), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America). The report offers the value (in USD) and volume (in units) for the above segments.