Market Analysis
The global type 1 diabetes treatment market is predicted to touch USD 9.6 billion at a 7.9% CAGR between 2019- 2025, as per the recent Market Research Future (MRFR) analysis. Type 1 diabetes or diabetes mellitus or juvenile diabetes is a multifactorial autoimmune and chronic condition when the body produces no or little insulin in the pancreas. On the contrary, strict approval process which differs from one nation to another, the grave effect of the COVID-19 outbreak, and the medications’ negative side effects are factors that may impede the global type 1 diabetes treatment market growth over the forecast period.
The insulin hormone is required by the body for getting glucose into the cells from the bloodstream for producing energy. Long-acting insulin, medium-acting insulin, short-acting insulin, rapid-acting insulin, and others are the different types of type 1 diabetes treatment that is widely used in specialty centres, hospitals and clinics, and others.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global type 1 diabetes treatment market based on end user and product.
By end user, the global type 1 diabetes treatment market is segmented into specialty centres, hospitals and clinics, and others. The others have been segmented into treatment at old age homes and home. Among these, hospitals and clinics will have lions share over the forecast period.
By product, the global type 1 diabetes treatment market is segmented into long-acting insulin, medium-acting insulin, short-acting insulin, rapid-acting insulin, and others. The others have been segmented into inhaled insulin and ultra-long-term action insulin. Of these, the rapid-acting insulin will dominate the market over the forecast period. It is further segmented into Novolog, Humalog, and Admelog.
Regional Analysis
Based on the region, the global type 1 diabetes treatment market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), the Middle East and Africa (MEA). Of these, North America will have lions share in the market over the forecast period. Immense growth possibilities, growing awareness amid people, improved investment opportunities, rising investment in research and technology, accessibility of pharmaceutical support, improved technological support, and companies taking an interest in the market are adding to the global type 1 diabetes market treatment market growth in the region.
The global type 1 diabetes treatment market in Europe is predicted to hold the second-largest share over the forecast period. Favorable initiatives undertaken by investors and research institutes that are all set to contribute to the RD sector is adding to the global type 1 diabetes treatment market growth in the region.
The type 1 diabetes treatment market in the APAC region is predicted to grow at a fast pace over the forecast period. Massive population, developing healthcare sector, and growing awareness about the diseases are adding to the type 1 diabetes treatment market growth in the region.
The global type 1 diabetes treatment market in the MEA is predicted to have sound growth over the forecast period.
Key Players
Key players profiled in the global type 1 diabetes treatment market report include Biodel, Inc. (US), DiaVacs, Inc. (US), Macrogenics, Inc. (US), Braun Melsungen AG (Germany), Mannkind Corporation (US), Abbott Laboratories (US), Pfizer Inc. (US), Novartis (Switzerland), Boehringer Ingelheim GmbH (Germany), AstraZeneca (UK), Sanofi (France), Novo Nordisk (Denmark), Merck (US), Eli Lilly (US), and Astellas Pharma (Japan).
