Type 1 Diabetes Global Market Report 2024

The global type 1 diabetes market has grown rapidly in recent years. It will grow from $10.25 billion in 2023 to $11.82 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to growing demand for effective treatments, growing public awareness of type 1 diabetes, growing funds for drug development, incremental healthcare spending across the world.

The global type 1 diabetes market is expected to see rapid growth in the next few years. It will grow to $19.91 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to growing awareness of early checkups for diabetes, growing adoption of home-care settings, increasing research for advanced drugs, increasing awareness of the consumption of nutritional products. Major trends in the forecast period include advanced insulin formulations, advancements in drugs and treatments, artificial pancreas systems, personalized medicine approaches.

The anticipated growth of the type 1 diabetes market is expected to be fueled by increasing government efforts to tackle diabetes. Government initiatives encompass a range of actions, policies, programs, or projects undertaken by governmental authorities to address specific issues, achieve objectives, or instigate positive changes in various aspects of society. Notably, government bodies are launching multiple initiatives aimed at combating diabetes, including type 1 diabetes. These initiatives are geared towards lowering diabetes risks and ensuring that all individuals diagnosed with diabetes have access to fair, comprehensive, affordable, and high-quality treatment and care. An illustrative example is the collaboration between the Canadian government and JDRF Canada, a non-profit organization based in Canada, which pledged $33 million in support of 12 research projects focused on the prevention, detection, management, and treatment of diabetes in July 2023. This funding will also aid the establishment of a national screening research consortium that will unite experts and individuals affected by diabetes to advance early-stage, pre-symptomatic type 1 diabetes screening in Canada. Consequently, the upsurge in government initiatives aimed at combatting diabetes is a driving force behind the growth of the type 1 diabetes market.

The rising rates of obesity and heart disease are expected to drive the growth of the type 1 diabetes market in the future. Obesity is a medical condition characterized by the accumulation of excess body fat, and it increases the risk of insulin resistance, potentially leading to elevated blood sugar levels and the development of type 1 diabetes. Additionally, high blood sugar levels can cause damage to blood vessels and nerves that play a role in heart and blood vessel health, contributing to heart disease. For instance, in May 2022, the Centers for Disease Control and Prevention reported that severe obesity in the US increased from 4.7% to 9.2% in 2021. Furthermore, a report from the UK's Office for National Statistics in March 2022 indicated an increase in the number of deaths from heart disease, rising from 19,440 in 2020 to 20,061 in 2021. Therefore, the increasing rates of obesity and heart disease are key drivers of the growth in the type 1 diabetes market.

The presence of disordered eating behaviors among diabetic patients poses a challenge and may impede the market's growth in the forecast period. Such behaviors can have significant health consequences, even if they do not meet the full criteria for an eating disorder or occur infrequently. For example, a nationwide study conducted in Italy in June 2022 and reported by the National Library of Medicine found a high prevalence of disordered eating behaviors (DEBs) among adolescents with Type 1 Diabetes, estimated at around 39.3%. These behaviors can complicate diabetes management and overall health. Consequently, the prevalence of disordered eating behaviors among diabetic patients is a hindrance to the growth of the type-1 diabetes market.

Prominent companies operating within the type 1 diabetes sector are concentrating their efforts on the development of cutting-edge solutions, including technologies like SmartGuard, as part of their strategy to maintain their market position. SmartGuard is a technology designed to assist individuals with diabetes, particularly those who may have concerns about hypoglycemia or lack awareness of it. An illustrative case in point is Medtronic PLC, an Irish-based company specializing in medical technology, services, and solutions, which introduced the MiniMed 780G system featuring advanced SmartGuard technology in March 2022. This innovative product represents a next-generation closed-loop insulin pump system that streamlines the management of type 1 diabetes. The system automates the administration of basal insulin and correction boluses at five-minute intervals, helping diabetes patients better avoid both high and low blood sugar levels. Furthermore, this system enables patients to reduce glucose level fluctuations and maintain their levels within predetermined parameters, ultimately enhancing their quality of life and achieving improved clinical outcomes.

In March of 2023, the French pharmaceutical and healthcare company, Sanofi, completed the acquisition of Provention Bio Inc. for a total of $2.9 billion. This strategic move by Sanofi is intended to bolster its presence in the realm of immune-mediated diseases and disease-modifying therapies, particularly in areas with significant unmet medical needs. Additionally, Sanofi aims to leverage its expertise in diabetes to maximize the potential of transformative therapies. Provention Bio Inc., based in the United States, specializes in the production of biopharmaceutical products, with a focus on type 1 diabetes.

Major players in the type 1 diabetes market are Johnson and Johnson Limited, Merck and Co. Inc., Sanofi-Aventis LLC., AstraZeneca PLC, Abbott Laboratories, Medtronic PLC, Eli Lilly and Co Ltd., Novo Nordisk A/S, Vertex Pharmaceuticals Incorporated, Dexcom Inc., Insulet Corporation, Tandem Diabetes Care Inc., Adaptive Biotechnologies Corporation, Xeris Pharmaceuticals Inc., MannKind Corporation, Biocon Ltd., Virta Health Corp., Bigfoot Biomedical Inc., ViaCyte Inc., Beta Bionics Inc., Adocia SA, Senseonics Holdings Inc., Zealand Pharmaceuticals A/S, Sigilon Therapeutics Inc., Provention Bio Inc.

North America was the largest region in the type 1 diabetes market in 2023. The regions covered in type 1 diabetes report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the type 1 diabetes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of medications for managing type 1 diabetes include rapid-acting insulin analogs, long-acting insulin analogs, premix insulin analogs, and others. Rapid-acting insulin analogs are synthetic forms of insulin engineered to have a faster onset, a more rapid peak effect, and a shorter duration of action compared to natural insulin. Various devices like insulin pumps, insulin pens, and blood glucose meters are employed for managing the condition. These devices are used by individuals of various age groups, both children and adults, and cater to different end-users, including hospitals, research institutes, and home care settings.

This report provides type 1 diabetes market statistics, including type 1 diabetes industry global market size, regional shares, competitors with a type 1 diabetes market share, detailed type 1 diabetes market segments, market trends and opportunities and any further data you may need to thrive in the type 1 diabetes industry. This type 1 diabetes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The type 1 diabetes market consists of sales of drugs used to treat type 1 diabetes such as autoimmune type 1 diabetes and idiopathic type 1 diabetes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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