Type 1 Diabetes Drugs Market Poised to Grow at a CAGR of 7.4% by 2024
Infinium Global Research has added a new report on Type 1 Diabetes Drugs Market. The report presents analysis of global as well as regional markets of type 1 diabetes drugs market over the period of 2018 to 2024.
The Type 1 diabetes drugs are used to treat the type 1 diabetic disease, and are also known as Type 1 diabetes mellitus. Type 1 diabetes is a condition where in pancreas produce very little or no insulin at all. Insulin is a hormone that allows sugar (glucose) to enter cells to produce energy. People suffering from type 1 diabetes have to take daily insulin injection to keep body glucose in normal range. Without insulin injection, patient may die. In type 1 diabetes condition, body’s immune system attacks & destroy most of the beta cells in the pancreas. Different factors, including genetics and some viruses, may contribute to type 1 diabetes. Although type 1 diabetes usually appears during childhood or adolescence, however it can also develop in adults.
Growing occurrence of the type 1 diabetes is the major factor driving the type 1 diabetes drugs market. The rising awareness about the type 1 diabetes and availability of its treatment drugs, introduction of new advanced insulin delivery devices such as pumps & pens and improved drug delivery system is expected to boost the growth of the type 1 diabetes drug market over the forecast period. However, high cost of insulin delivery systems, especially insulin pump and autoinjector may act as a restraint to market growth. Moreover, the ongoing innovations in the diabetes drugs and the drug delivery system are projected to create the several opportunities in upcoming years.
Among the region, North America is dominating the type 1 diabetes drugs market owing to the high occurrence of diabetes among the population and adoption of new innovative insulin delivery systems such as insulin pumps are the major factors that are driving the North America region. The rapidly growing aging population and improved healthcare infrastructure in the Asia pacific region is likely to help to grow Asia Pacific region at the highest CAGR, during the forecast period
Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global type 1 diabetes drugs market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.
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The recent report identified that dominated the global type 1 diabetes drugs market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the type 1 diabetes drugs market worldwide.
The report segments the global type 1 diabetes drugs market on the basis of Type and End User.
Global Type 1 Diabetes Drugs Market by Type
Global Type 1 Diabetes Drugs Market by End User
Companies Profiled in the Report
· Eli Lilly and Company
· Novo Nordisk A/S
· XOMA Corp.
· Biodel, Inc.
· B.Braun Melsungen AG
· Astrazeneca Plc.
· DiaVacs, Inc.
· Biodel, Inc.
· Macrogenics, Inc.
About Infinium Global Research
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