Type 1 Diabetes Market Size to Reach USD 63.5 Billion by 2032, With 7.82% CAGR – SNS Insider

According to Research by SNS Insider, Type 1 Diabetes Market Growth is Driven by Innovations in Insulin Delivery Systems, Continuous Glucose Monitoring, and Stem Cell Therapies

1401 Lavaca ST 800, Austin Tx 78701


Pune, Oct. 14, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider, The Type 1 Diabetes Market valued at USD 32.3 billion in 2023 and is expected to reach USD 63.5 billion by 2032, growing at a CAGR of 7.82% during the forecast period from 2024 to 2032.


Rising incidence in children and adolescents, coupled with the perpetual increase in new diabetes management technologies, is driving the demand for this market. The improvements in the technology of insulin delivery devices, such as pumps and pens, are also helping improve the patients' life conditions by providing better glycemic control.

Type 1 Diabetes Market Overview

The Type 1 diabetes market is increasing demand for effective insulin delivery systems and comprehensive management solutions. This supply chain comprises manufacturers of drugs and devices among others, healthcare providers, and patients. Hence it offers all the treatment options for patients to be able and capable of accessing and even administering the aforementioned treatments. The growing diagnosis of Type 1 diabetes necessitates more innovative therapeutic alternatives and medical devices to aid in the care of the patient. The political initiatives for diabetes management and increased awareness have also been on the increase during this period and have thus contributed to market growth. The industry is projected to lead with major investments in research and development that aim at the rollout of innovative treatment options that enhance patient outcomes, as well as access to care.

Get a Sample Report of Type 1 Diabetes Market@ https://www.snsinsider.com/sample-request/1076

Key Type 1 Diabetes Market Players:

  • Eli Lilly
  • Merck
  • Novo Nordisk
  • Sanofi
  • AstraZeneca
  • Novartis
  • Pfizer Inc.
  • Macrogenics Inc.
  • DiaVacs Inc.
  • Biodel Inc.
  • Boehringer Ingelheim GmbH
  • Mannkind Corporation
  • Abbott Laboratories
  • Astellas Pharma
  • Medtronic
  • Roche
  • Dexcom
  • Insulet Corporation
  • B. Braun Melsungen AG
  • others

Type 1 Diabetes Market Report Scope:

Report Attributes Details
Market Size in 2023 US$ 32.3 Billion
Market Size by 2032 US$ 63.5 Billion
CAGR CAGR of 7.82% From 2024 to 2032
Base Year 2023
Forecast Period 2024-2032
Historical Data 2020-2022
Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Segment Analysis

By Device Type

The insulin pump segment held the maximum market share in Type 1 diabetes at 38.9% of the market in the year 2023. This is primarily because insulin pumps allow for continuous and accurate delivery of insulin facilitating better glycemic control with minimal patient efforts. The very latest devices, such as Medtronic's MiniMed 670G and Tandem Diabetes Care's X2 with Control-IQ, even automatically adapt insulin doses based on the real-time glucose level, automatically adjusting to minimize hypo- and hyperglycemic peaks. However, the fastest growth has been recorded in the insulin pen market. Convenience, affordability, and ease of use characterize an insulin pen. For the care of diabetes in home settings, a syringe or a pump is now far less cumbersome because the demand for insulin pens is on the rise.

By Insulin Type

In 2023, long-acting insulin will continue to be the largest-selling type, with a 52.1% market share, delivering a smooth, steady level of insulin that sustains baseline glucose control throughout the day and night. It's attractive not only to patients, who need injections less often but also to healthcare providers, with their reduced dosing frequency. Rapid-acting insulins will be the fastest-growing area because they are needed to manage meals and are integral to the systems used in insulin pump therapy.

By Distribution Channel

The market leader for 2023 was hospital pharmacies, which were driven by a higher volume of prescriptions and device formulations through newly diagnosed patients. Online pharmacies, however, are growing at the fastest rate because of shifting trends toward digital health solutions as well as because of the flexibility of subscription-based services.

By End User

In 2023, homecare settings dominated the market for innovative insulin delivery systems that enable patients to have control over their disease and monitor their conditions themselves. However, the hospital and clinic segment are growing rapidly with more and more patients now needing professional management of diabetes, especially in the initial phases of the diagnosis and treatment process.

Type 1 Diabetes Market Key Segmentation:

By Devices Type

By Insulin Type

  • Long-Acting Insulin
  • Rapid-Acting Insulin

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

By End User

  • Homecare Settings
  • Hospitals & Clinics
  • Academic & Research Institutes
  • Others

Do you have any specific queries or need any customization research on Type 1 Diabetes Market, Enquire Now@ https://www.snsinsider.com/enquiry/1076

Regional Analysis

In 2023, North America dominated the market of Type 1 diabetes, where the growth in the patient population was high, especially in children and adolescents with Type 1 diabetes. Greater market growth in this region is ensured even as a result of the presence of significant companies actively conducting research and development for new forms of treatments for diabetes. Innovations such as novel systems for insulin delivery from Medtronic and Tandem Diabetes Care are taking the forefront in enhancing care for patients.

Asia Pacific emerges as the most rapidly growing region in the Type 1 diabetes market, mainly because of cost-effective treatments available and increased spending on healthcare. A rising number of cases of Type 1 diabetes in India and China has resulted in large-scale investment in healthcare structures. Companies in the region and international players are teaming up with each other to develop better solutions for diabetes management, a rise in device availability, as well as patient education.

Recent Trends in the Type 1 Diabetes Market

January 2024: A study by Assam El-Osta et al showed that EZH2 inhibitors may be employed to restore β-like cells for improved insulin secretion in Type 1 diabetes patients.

December 2023: Researchers at Cornell University and the University of Alberta designed a medical device that can produce insulin but simultaneously avoid immunosuppression.

November 2023: Novo Nordisk has introduced a new smart insulin pen called FlexTouch 2, designed to improve diabetes management through superior connectivity features.

September 2023: Eli Lilly officially introduced a new rapid-acting formulation of insulin called LillyFast to achieve better postprandial glucose control in Type 1 diabetes patients.


Buy a Single-User PDF of Type 1 Diabetes Market Analysis & Outlook Report 2024-2032@ https://www.snsinsider.com/checkout/1076

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

  • Incidence and Prevalence (2023)
  • Prescription Trends, (2023), by Region
  • Drug Volume: Production and usage volumes of pharmaceuticals.
  • Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients.

6. Competitive Landscape

7. Type 1 Diabetes Market Segmentation, by Devices Type

8. Type 1 Diabetes Market Segmentation, by Insulin Type

9. Type 1 Diabetes Market Segmentation, by Distribution Channel

10. Type 1 Diabetes Market Segmentation, by End User

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

Request An Analyst Call@ https://www.snsinsider.com/request-analyst/1076

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

 

Coordonnées