DIABETES VACCINE MARKET ANALYSIS
High global prevalence of type 1 diabetes is expected to aid in growth of the market over the forecast period
High global prevalence and incidence of type 1 diabetes is, inadvertently expected to create a conducive environment for growth of the diabetes vaccine market. According to the International Diabetes Federation’s (IDF) Diabetes Atlas 2017, around 425 million patients are suffering from diabetes worldwide by end of 2017. Of this, one million people (children and adolescents below 20 years of age) are suffering from type 1 diabetes, with around 150,000 new cases reported each year.
Furthermore, patients suffering from type 1 diabetes need constant monitoring and may also require insulin externally, which has to be taken intramuscularly every day. This becomes difficult for children. Cost associated with insulin therapy is also relatively high. These are expected to be factors supporting growth of the market.
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