The type 2 diabetes market is expected to more than double from $26.8bn in 2016 to $64bn by 2026, according to a report by GlobalData.
Titled 'Type 2 Diabetes – Global Drug Forecast and Market Analysis to 2026', the report covers the seven major markets of the US, France, Germany, Italy, Spain, the UK, and Japan.
An increase in prevalence of type 2 diabetes and the disease-related comorbidities have been identified as the main drivers of the growth. Availability of inexpensive generics and increase in the use of drugs with non-glycaemic benefits is expected to further contribute to the growth.
Several me-too drugs are currently in late-stage development, which are also expected to drive growth in the market.
The companies projected to emerge as leaders in the market with their late-stage pipeline products include Novo Nordisk, Astra Zeneca, Merck, Eli Lilly/BI, Takeda, Johnson & Johnson, Sanofi, and Intarcia Therapeutics.
The highest unmet need in the type 2 diabetes space is the inability to maintain glycaemic control in the long-term, states Jesus Cuaron, PhD, PPM, Managing Healthcare Analyst at GlobalData. Existing treatments are capable of reducing complication rates, but unable to address this unmet need.
An aggressive approach to treatment through the use of multiple drug therapies is being adopted by physicians to address these issues. New patent-protected products that can address these issues, as well as cardiovascular and compliance issues, will provide a significant growth opportunity for the market, adds the report.