Type-1 Diabetes Treatment Market: Key Growth Factors and Opportunity Analysis by 2027
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.
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MARKET USP
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.
SEGMENTATION
·
By Product
·
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.
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By Region
·
Americas: The largest market
·
Europe
·
Asia-Pacific: The fastest-growing regional
market.
·
Middle East & Africa
KEY PLAYERS
·
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)
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