Type I Diabetes Mellitus Treatment Market Estimated to Flourish by 2026
Type I Diabetes Mellitus can be defined as a chronic illness characterized by the inability of the body to produce insulin due to the autoimmune disorder in which the beta cells of the pancreas are destroyed by the body’s own immune system. The symptoms of type I diabetes include excessive urination known as polyuria; excessive hunger or polyphagia; excessive thirst or polydipsia; weight loss, dry mouth, blurred vision, and fatigue. The diagnosis of type I diabetes includes identification of the presence of diabetic ketoacidosis. Symptoms of diabetic ketoacidosis include drowsiness, frequent urination, increased thirst, dry skin, nausea, and abdominal pain. The exact cause of type I diabetes mellitus is not clear; however, it is known to be caused by genetic factors, exposure to an antigen or diabetogenic trigger. This form of diabetes is known to be very common among children and young adults.
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Type I diabetes mellitus treatment market is anticipated to grow significantly owing to the availability of insulin as the major mode of treatment, which is likely to contribute to the growth of the market. The rising prevalence of the disease contributing to the increasing patient pool aids in the type I diabetes mellitus treatment market growth. For instance, over 1.25 million American children and adults are expected to suffer from type I diabetes in 2017. According to the WHO, prevalence of type I diabetes mellitus is anticipated to be significantly higher in Sardinia, New Zealand, Sweden, Finland, Norway, the U.K., Portugal, and Canada. In addition, growing focus on research and development, the growing pipeline of exogenous insulin products, and government funding for research on treatment modes for type I diabetes mellitus aid in the growth of the market. However, increasing patent expiries, and rising usage of biologics leading to price competition among market players, might hamper the future growth of the type I diabetes mellitus treatment market.
The global type I diabetes mellitus treatment market can be segmented on the basis of insulin analogs, distribution channel, and geography. On the basis of insulin analogs, the type I diabetes mellitus treatment market can be segmented into long acting insulin analog, premix analogs, rapid acting insulin analogs, and others. The other forms of treatment for type I diabetes include pancreatic transplantation, islets of Langerhans transplantation, and dietary supplements. On the basis of distribution channel, the type I diabetes mellitus treatment market can be segmented into hospital pharmacies, retail pharmacies, specialty pharmacies, and others.
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Geographically, the global type I diabetes mellitus treatment market can be segmented into five regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America accounted for the highest share of the global type I diabetes mellitus treatment market in terms of revenue in 2016 and the trend is anticipated to continue during the forecast period. Strong growth in the region can be attributed to increase in well-established health care infrastructure and increasing prevalence of type I diabetes among the people. Europe is expected to be the second leading market for type I diabetes mellitus treatment. However, the sluggish economy in the region is likely to negatively impact the growth of the type I diabetes mellitus treatment market. The type I diabetes mellitus treatment market in Asia Pacific is anticipated to record high CAGR owing to factors such as the growing government focus on enhancing health care facilities and increasing patient population.
Leading players operating in the global Type I diabetes mellitus treatment market are Sanofi S.A., Eli Lilly and Company, Novo Nordisk A/S, Merck & Co., Inc., Novartis International AG, AstraZeneca plc, Biocon Limited, ADOCIA, Bioton, and Wockhardt Ltd., among others. However, the market is anticipated to be dominated by three leading players comprising Sanofi, Eli Lilly, and Novo Nordisk.
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