Type I Diabetes Mellitus Treatment Market: Introduction
- Type I diabetes mellitus can be defined as a chronic illness characterized by the inability of the body to produce insulin due to an 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 known; however, genetic factors and exposure to an antigen or diabetogenic trigger are known to cause it. This form of diabetes is known to be quite common among children and young adults.
Key Drivers, Restraints, and Opportunities of Global Type I Diabetes Mellitus Treatment Market
- The global type I diabetes mellitus treatment market is projected to grow at a rapid pace during the forecast period owing to availability of insulin for treatment. Rise in prevalence of the disease increases the patient pool, which drives the global type I diabetes mellitus treatment market. For instance, over 1.25 million children and adults were suffering from type I diabetes in the U.S. 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.
- Rise in focus on research & development, growing pipeline of exogenous insulin products, and government funding for research on treatment modes for type I diabetes mellitus boost the growth of the global market. However, increase in patent expiries and rise in usage of biologics leading to price competition among market players are expected to hamper the growth of the global type I diabetes mellitus treatment market during the forecast period.
North America to Capture Major Share of Global Type I Diabetes Mellitus Treatment Market
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 largest share of the global type I diabetes mellitus treatment market in terms of revenue in 2020 and the trend is anticipated to continue during the forecast period. Strong growth of the market in the region can be attributed to well-established health care infrastructure and rise in prevalence of type I diabetes among the people. Europe is expected to be the second leading market for type I diabetes mellitus treatment from 2021 to 2031. However, sluggish economic growth in the region is likely to hamper the growth of the type I diabetes mellitus treatment market in the region in the next few years. The type I diabetes mellitus treatment market in Asia Pacific is projected to expand at a high CAGR from 2021 to 2031 owing to factors such as rise in government focus on enhancing health care facilities and increase in patient population.
Key Players Operating in Global Type I Diabetes Mellitus Treatment Market
The global type I diabetes mellitus treatment market is highly fragmented due to the presence of larger number of key players. These players hold major market share in their respective regions. Companies enter into partnerships to expand their global footprint. Major 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
- Wockhardt Ltd.
- Teva Pharmaceuticals Pvt. Ltd.
- Merck & Company, Inc.
- Medtronic, Inc.
- Johnson & Johnson
- Home Diagnostics Inc.
- Bayer Healthcare AG
- Amylin Pharmaceuticals, Inc.
- Abbott Laboratories
Global Type I Diabetes Mellitus Treatment Market: Research Scope
Global Type I Diabetes Mellitus Treatment Market, by Insulin analogs
- Long Acting Insulin Analog
- Premix Analogs
- Rapid Acting Insulin Analogs
Global Type I Diabetes Mellitus Treatment Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drugstores
- Online Sales
Global Type I Diabetes Mellitus Treatment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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