TYPE 1 DIABETES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Type 1 Diabetes Market Size and Trends

Global type 1 diabetes market is estimated to be valued at USD 15.95 Bn in 2024 and is expected to reach USD 24.36 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

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Global Type 1 diabetes market is witnessing positive growth trends due to rising prevalence of the disease. Increasing awareness about diabetes self-care and management along with technological advancements in insulin delivery devices are some key factors aiding the market expansion. Improved diagnostic capabilities and mass screening programs have enabled faster diagnosis and treatment of type 1 diabetes. However, high cost of insulin drugs continues to remain a major challenge, especially in low- and middle-income countries. Many players are engaged in developing affordable biosimilar insulin therapies to increase accessibility.

Rising prevalence of obesity and sedentary lifestyle

Increasing prevalence of obesity and physical inactivity is one of the key drivers propelling the growth of type 1 diabetes market. Poor dietary choices and lack of exercise have led to a surge in obesity rates globally. While the exact biological mechanisms are unknown, excess body weight is believed to place additional stress on the pancreas, increasing the chances of autoimmune destruction of insulin-producing beta cells. At the same time, more and more people worldwide are adopting sedentary habits and desk-bound occupations with little or no physical activity. Lack of exercise negatively impacts glucose regulation and insulin sensitivity over the long run. When combined with obesity, physical inactivity doubles the risk of developing type 1 diabetes, thereby, boosting demand for treatment of type 1 diabetes.

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Technological advancement is another key factor contributing to the growth of the type 1 diabetes market. Insulin injections via syringes were the standard method of treatment. However, continuous subcutaneous insulin infusion via insulin pumps and smart insulin pens have significantly improved diabetes management in recent years. These modern insulin delivery devices automatically provide small doses of insulin continuously throughout the day to mimic the body's natural insulin release. Compared to multiple daily injections, insulin pumps are more convenient to use and allow for better blood glucose control. Newer pump models can be remotely controlled via companion apps on smartphones and connected to continuous glucose monitoring systems for added precision. Similarly, smart insulin pens that record dosing information are gaining widespread acceptance. These provide tracking of insulin on board which is helpful for determining correct bolus doses during meals or illness.