According to research and consulting firm GlobalData, the global type 2 diabetes market is on track to almost double from $31.2 billion in 2015 to $58.7 billion by 2025, as stated in its latest report: "Type 2 Diabetes – Global Drug Forecast and Market Analysis to 2025."
The report says that this growth, which will occur across the nine major markets of the United States, France, Germany, Italy, Spain, the UK, Japan, China and India, will primarily be attributable to a dramatic increase in the diagnosis and prevalence of the disease, and that the rise in type 2 diabetes-related comorbidities has fueled a more aggressive approach in treatment and the use of multiple-drug therapies.
Jesus Cuaron, Ph.D., PPM, GlobalData’s Analyst covering Cardiovascular and Metabolic Disorders, explains: “Increases in disease incidences will result from increased life expectancy and lifestyle changes, such as dietary changes and a reduction in exercise.
“Indeed, the U.S. will be impacted the most by such changes, increasing its global market share from 58 to 66 percent during the forecast period.”
GlobalData believes that in order to address the biggest unmet need in type 2 diabetes, new drugs must address the problem of insulin resistance, as this is the root of the disease.
For more information on the GlobalData report, click here.