Treated with a wide range of insulin delivery devices and drugs, type 1 diabetes (T1D) is today one of the most prevalent chronic diseases worldwide.Research Report Insights, in its latest report titled âType 1 Diabetes Market: Global Industry Analysis and Forecast â 2017-2024â, examines the global market for type 1 diabetes for the aforementioned six-year period.Global Type 1 Diabetes Market: Drivers and RestraintsPrimarily driven by the acceptance of latest approved therapeutics products and premium products in the pipeline, the market for type 1 diabetes treatment is currently thriving at a considerable pace.
In addition to tremendously increasing T1D-inflicted population across the globe, staggeringly improved treatment options will remain the key factors fueling the growth of T1D market globally.Increasing dedicated diabetes research projects and swelling government funds for therapeutic research are also expected to elevate the market for type 1 diabetes (treatment) over the next few years.
Furthermore, few of the leading insulin brands, including Eli Lily, Sanofi, and Novo Nordisk, are due for patent expirations soon within a couple of years, which highlights rapid growth possibilities for the type 1 diabetes market globally.
Moreover, cost-intensive diagnostics and treatment will remain longstanding challenges to market penetration in developing countries.
Associated side effects can also hamper the rate of adoption.Global Type 1 Diabetes Market: Trends and OpportunitiesResearch Report Insights indicated the sustenance of human insulin and insulin analogs at the forefront among all the therapies, owing to the fact that no other therapeutic alternatives assure complete regeneration of the pancreatic beta cells.
A host of opportunities lies in the juvenile diabetes sector.Some of the strongest trends in the T1D market, include development of a new class of diabetes drugs, emergence of a range of non-invasive diabetes diagnostics and drug delivery devices.