Global type 2 diabetes market to reach $38.8 billion by 2019

The global type 2 diabetes market is expected to grow from $20.4 billion in 2012 to $38.8 billion by 2019, at a compound annual growth rate (CAGR) of 10.2%, forecasts business intelligence provider GBI Research.

The company’s latest report states that the USA currently has the highest market share, which will rise from $12.7 billion in 2012 to $27.2 billion by 2019, at a CAGR of 11.6%, followed by the top five European Union markets (the UK, France, Germany, Italy and Spain), which will grow from $4.5 billion to $7.1 billion, at a CAGR of 6.8%.

This increase, according to GBI Research, is due to the anticipated approval of products in relatively novel treatment classes, such as GLP-1 agonists, DPP-4 and SGLT-2 inhibitors. Should these expensive drug classes capture substantial market shares, this would be expected to result in an even more robust level of market growth. Furthermore, due to the increase in the number of obesity cases and with people living longer, the prevalence of type 2 diabetes is also expected to rise.