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

Global type 1 diabetes market is estimated to be valued at USD 15.95 BN in 2024 and is expected to exhibit a CAGR of 6.2% during the forecast period (2024-2031). Type 1 diabetes is an autoimmune disease where the pancreas produces little or no insulin. It results from the destruction of insulin-producing beta cells in the pancreas. Insulin is a hormone that regulates blood sugar. Without insulin, glucose stays in the blood and cannot be used for energy. As a result, blood glucose (sugar) levels become high. Symptoms of type 1 diabetes include increased thirst, increased urination, weight loss despite increased appetite, blurred vision and tiredness. While there is no cure for type 1 diabetes, it can be managed through insulin therapy, diet, exercise, and self-monitoring of blood glucose levels. Global type 1 diabetes market consists of devices and therapeutics used for monitoring and managing blood glucose levels in type 1 diabetes patients.

Market Dynamics:

Global type 1 diabetes market growth is primarily driven by rising prevalence of type 1 diabetes across the world. According to Centers for Disease Control and Prevention press release published in November 2023, 1.7 million adults in 2021, aged 20 years or above which totals to 5.7% of all US adults with diagnosed diabetes reported that they have type 1 diabetes and use insulin. Increasing awareness regarding diabetes management and advanced monitoring devices are driving the market growth. However, high cost of insulin and other management therapies pose a major challenge to market growth. The improvements in continuous glucose monitoring devices enabled by new technologies provide lucrative opportunities for sustained market expansion.

Key Features of the Study:

• This report provides in-depth analysis of the global type 1 diabetes market, and provides market size (USD BN) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global type 1 diabetes market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study includes Biocon Ltd., Novo Nordisk, Gan & Lee Pharmaceuticals, Zealand Pharma, AstraZeneca, Eli Lilly and Company, Sanofi, Wockhardt Ltd., Ypsomed AG, Novartis, Panbela Therapeutics, Diamyd Medical, Adocia, Anelixis Therapeutics, and Oramed Pharmaceuticals Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global type 1 diabetes market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global type 1 diabetes market

Detailed Segmentation-

• By Device Type:
• • Insulin Pen
  • Insulin Syringe
  • Insulin Pump
  • Insulin Jet Injectors
• By Insulin Type:
• • Long-Acting Insulin
  • Rapid-Acting Insulin
• By End User:
• • Homecare Settings
  • Hospitals & Clinics
  • Academic & Research Institutes
  • Others
• By Distribution Channel:
• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
• • Biocon Ltd.
  • Novo Nordisk
  • Gan & Lee Pharmaceuticals
  • Zealand Pharma
  • AstraZeneca
  • Eli Lilly and Company
  • Sanofi
  • Wockhardt Ltd.
  • Ypsomed AG
  • Novartis
  • Panbela Therapeutics
  • Diamyd Medical
  • Adocia
  • Anelixis Therapeutics
  • Oramed Pharmaceuticals Inc.