Type-1 Diabetes Treatment Market Analysis
According to Market Research Future (MRFR), the global type-1 diabetes treatment market is expected to cross USD 9.6 billion, with a CAGR of 7.9%. from 2019 to 2025 (forecast period).
The body requires insulin hormone to get glucose from the bloodstream to the cells to generate energy. Most forms of diabetes can be categorized as type 1a – Autoimmune disease, where the breakdown of pancreatic beta cells is observed, low insulin production disrupts blood glucose homeostasis, and mild cases of type 1b – Idiopathic Diabetes Mellitus. This type of diabetes is rare and occurs during childhood or adolescence, but can also be seen in adults.
Type-1 Diabetes Treatment Market Dynamics
The global market for type 1 diabetes is expected to grow significantly over the forecast period due to the rising prevalence of type-1 diabetes due to environmental and genetic factors. Unhealthy eating habits, growing geriatric population, increasing obesity, and sedentary lifestyles are the main contributors to the growth of the global type 1 diabetes industry. Governmental initiatives to control diabetes and the economic impact of the disease on health systems in several countries are expected to propel the market growth.
Whereas, intense reimbursement policies, adverse side effects of the medication, and high diagnosis and treatment costs are constraining factors for the growth of the global type 1 diabetes treatment market.
Type-1 Diabetes Treatment Market Segmentation
The global type-1 diabetes treatment market has been segmented into product and end-user.
Based on the product, the global market for type-1 diabetes treatment has been segmented into rapid-acting insulin, short-acting insulin, medium-acting insulin, long-acting insulin, and others. Rapid-acting insulin is the largest and fastest-growing market in this segment. The segment has been further divided into Admelog, Humalog, Novolog, and others. Short-acting insulin is effective for 3–6 hours. Medium-acting insulin is effective for 12–18 hours. Long-acting insulin is used for chronic cases and is effective for upwards of 24 hours. The segment has been further divided into Lantus, Levemir, and others. The segment for others includes ultra-long-term action insulin and inhaled insulin.
Based on end-user, the global market for type-1 diabetes treatment has been segmented into hospitals and clinics, specialty centers, and others. Hospitals and clinics segment is expected to be the largest and fastest-growing market during the forecast period. Specialty Centers segment is catering exclusively to patients who have diabetes; these centers are being opened across the globe. The segment for others includes treatment at home and old age homes.
Type-1 Diabetes Treatment Market Regional Analysis
Regionally, the global type-1 diabetes treatment market has been segmented into five major segments, including the Americas, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Americas to dominate the global market for type 1 diabetes treatment due to the growing incidence of diabetes in the region. The U.S. is developing as a power market with a large number of children under 14 years of age who have type 1 diabetes relative to other countries in the region.
The Asia Pacific is expected to record a significant growth rate over the forecast period due to an increase in the region’s aging population, with India emerging as a potential market leader over the forecast period.
Type-1 Diabetes Treatment Market Key Players
Some of the leading participants in the global type-1 diabetes treatment market are Astellas Pharma (Japan),Novartis (Switzerland), Merck (US), Novo Nordisk (Denmark), Sanofi (France), Boehringer Ingelheim GmbH (Germany), AstraZeneca (UK), Abbott Laboratories (US), Mannkind Corporation (US), Novartis (Switzerland), Braun Melsungen AG (Germany), Macrogenics, Inc. (US), Pfizer Inc. (US), DiaVacs, Inc. (US), Biodel, Inc. (US).
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