The global type 1 diabetes treatment market is anticipated to grow at a considerable CAGR of 7.8% during the forecast period (2021-2027). The market growth is mainly attributed to the growing number of type 1 diabetes patients across the globe especially in emerging economies like India and China. According to the IDF (International Diabetes Federation), in 2020, there were 463 million people in the globe who had diabetes and Type 1 diabetes accounts for around 7-10% of diabetes cases globally. It is most commonly seen in persons older than 45 years. However, due to the rising prevalence of several chronic diseases associated with diabetes, it is also increasingly seen in children, adolescents, and younger adults. Moreover, the increase in the geriatric population, rising demand for non-invasive monitoring devices, and changing lifestyles of people are some of the other factors that drive the growth of the market.
A full report of Type 1 Diabetes Market is available at: https://www.omrglobal.com/industry-reports/type-1-diabetes-market
In addition to this, initiatives are taken by government organizations to control the rising prevalence of diabetes also drives the growth of the market. For instance, Novo Nordisk is working with the Chinese government for strengthening the healthcare system in the country. Under the Cities Changing Diabetes partnership sponsored by Novo Nordisk, six Chinese cities, including Shanghai, Beijing, Tianjin, Xiamen, Chongqing, and Hangzhou, have linked with the Cities Changing Diabetes partnership. Besides, In February 2019, the directorate of health services (government of goa) and Sanofi India join hands to reduce the diabetes burden on the state. The partnership is for 3 years intended to create awareness of diabetes and its management for a better quality of life. Although, in March 2019, AstraZeneca’s Forxiga got approved in Europe for type-1 diabetes as an adjunct to insulin in patients with a BMI ? 27 kg/m2.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Insulin Analog
o By Drug Class
o By Devices
Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Merck & Co., Inc., Novo-Nordisk A/S, Sanofi S.A., Medtronic, PLC., AstraZeneca, PLC, F. Hoffmann-La Roche Ltd, and Becton, Dickinson, and Co, among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Type 1 Diabetes Treatment Market Report Segment
By Insulin Analog
- Rapid-Acting
- Long-Acting
- Premix
By Drug Class
- Insulin
- Non-Insulin
By Devices
- Insulin Pumps
- Insulin Pen
- Blood Glucose Meters
- Others
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