This market research study presents a detailed segmentation of the global type I diabetes drugs market by drug class (insulin and others), and geographical segmentation (Americas, APAC, and EMEA). The top vendors identified in the market are Novo Nordisk, Sanofi, and Eli Lily
Technavio’s market research analysts estimate the global Type 1 diabetes drugs market, to grow at a CAGR of more than 7% between 2016 and 2020. The market is expected to witness surge in the sales of Type 1 diabetes drugs during the forecast period owing to the latest advances in insulin delivery technology. New automated injection devices such as insulin pens and pumps have a safe and secure drug delivery system, for example, NovaPen and FlexTouch by Novo Nordisk are the latest insulin delivery devices. The Americas accounts for 62% of the total market share, owing to accessibility to therapies by reimbursement programs. The US is the largest revenue contributor to the region because of the growing prevalence of the disease and rise in obesity.
The new market research report from Technavio provides a breakdown and analysis of the diabetes drugs segments by technology.
“Several national and international awareness campaigns are held around the world that focus on educating people and enhancing their knowledge about diabetes and its management. Globally, the World Diabetes Day is celebrated on November 14 by over 200 member associations of the International Diabetes Federation (IDF). Such organizations run community and global level programs to educate people about diabetes and the best ways to manage the condition. These programs are mostly conducted in collaboration with other national and international institutes, for instance, Novo Nordisk has initiated a program to educate doctors and patients in China about proper diabetes care,” says Barath Palada, Lead Analyst, Pharma, Technavio Research
The insulin drugs is expected to occupy more than 85% of the overall market share by the end of 2020. Insulins are further segmented according to their action time into fast-acting insulin, intermediate-acting insulin, and long-acting insulin. Fast-acting insulin is rapidly absorbed into the bloodstream from the subcutaneous tissues. Intermediate-acting insulin is absorbed slowly into the bloodstream, but its effect stays for a longer duration compared to fast-acting insulin. Long-acting insulins are absorbed slowly into the bloodstream. Its peak is minimal and has a stable plateau effect which lasts a day.
The key vendors in the global Type 1 diabetes drugs market include Novo Nordisk, Sanofi, and Eli Lily. This market is highly competitive due to the presence of several small and large vendors. The market is open to new players and has a lot of opportunities for growth. The competitive environment is expected to increase in due to the product extensions, new products, and new applications of the products and services provided.
A more detailed analysis is available in the Technavio report, Global Type 1 Diabetes Drugs Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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