Market Research Future with their unique quality of simplifying the market research study, announces a deep study report on “Type-1 Diabetes Treatment Market Research Report – Forecast to 2023” Gives industry size, top players and worldwide demand
Type-1 Diabetes Treatment Market: Synopsis
The Global Type-1 Diabetes Treatment Market is projected to grow from USD 5.6 Billion in 2018 to USD 9.6 Billion by 2025, registering a CAGR of 7.9%.
Type-1 diabetes is a chronic condition that requires lifelong medication. The onset of this condition usually occurs in childhood; it also affects obese and aged individuals.This condition has been directly linked to a sedentary lifestyle, the adoption of which is widespread globally due to various societal, cultural, and economic factors. The rising prevalence of type-1 diabetes is driving the growth of the market.
Strict approvals processes are expected to hamper the growth of this market. However, this may be offset by the growing number of cases per year and increased government assistance for the management of the condition.
The enhanced efficacy of rapid-acting insulin and rising number of specialty treatment centers for type-1 diabetes are aggressively driving the growth of the market.
Key Players: Type-1 Diabetes Treatment Market
- Astellas Pharma (Japan)
- Eli Lilly (US)
- Merck (US)
- Novo Nordisk (Denmark)
- Sanofi (France)
- AstraZeneca (UK)
- Boehringer Ingelheim GmbH (Germany)
- Novartis (Switzerland)
- Pfizer Inc. (US)
- Abbott Laboratories (US)
- Mannkind Corporation (US)
- Braun Melsungen AG (Germany)
- Macrogenics, Inc. (US)
- DiaVacs, Inc. (US)
- Biodel, Inc. (US)
Segments: Type-1 Diabetes Treatment Market
- Rapid-Acting Insulin: The rapid-acting insulin segment is expected to be the largest and fastest-growing during the review period. Usually taken before the ingestion of food or drink, rapid-action insulin is easy to introduce into the bloodstream and starts acting within 15 minutes of injection. The segment has been further classified as Admelog, Humalog, Novolog, and others.
- Short-Acting Insulin: Also known as regular insulin, it is included in the World Health Organization’s list of essential medicines.
- Medium-Acting Insulin: This growth of this segment is directly proportional to the growth of the short-acting insulin segment as these insulin types are usually taken concurrently.
- Long-Acting Insulin: This is a growing segment as this type of insulin does not have a peak performance time and is equally effective for the entire duration. It is preferred by healthcare agencies due to its low side effects and gradual action. The segment has been further categorized as Lantus, Levemir, and others.
- Others: Ultra long-term insulin and other experimental insulins are covered in this niche market segment. Though currently the smallest segment, it shows tremendous growth potential due to the numerous beneficial effects and limited side effects of these types of insulin. However, the growth of the segment is limited by stringent regulations, a rigorous testing process, and high costs.
By End User
- Hospitals & Clinics: This is the largest and fastest-growing market segment and is projected to grow well beyond the forecast period. Hospitals and clinics are the primary care centers for individuals afflicted with type-1 diabetes; they are also cost-effective. Moreover, in countries with government-funded healthcare and a high prevalence of type-1 diabetes, hospitals and clinics are the main treatment centers, which is driving the growth of the segment.
- Specialty Centers: A more specialized treatment option, specialty centers have mushroomed across the US and are being opened in India and China. This segment is growing due to the increased number of individuals afflicted with the condition and the higher returns on investment from specialty centers as compared to hospitals and clinics.
- Others: The ease of availability and delivery of diabetes medication has led to patients opting for home treatment. The segment also covers old age homes as the geriatric population is highly susceptible to type-1 diabetes. A niche segment, it is expected to grow as awareness regarding the condition increases along with ease of treatment.
Regional Analysis: Type-1 Diabetes Treatment Market
- Americas: The largest market
- Asia-Pacific: The fastest-growing regional market.
- Middle East & Africa
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