Diabetes Vaccine Market: Adoption of Innovative Offerings to Boost Returns on Investment 2018-2026
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High global prevalence of type 1 diabetes is expected to aid in growth of the market over the forecast period
High global prevalence and incidence of type 1 diabetes is, inadvertently expected to create a conducive environment for growth of the diabetes vaccine market. According to the International Diabetes Federation’s (IDF) Diabetes Atlas 2017, around 425 million patients are suffering from diabetes worldwide by end of 2017. Of this, one million people (children and adolescents below 20 years of age) are suffering from type 1 diabetes, with around 150,000 new cases reported each year.
Furthermore, patients suffering from type 1 diabetes need constant monitoring and may also require insulin externally, which has to be taken intramuscularly every day. This becomes difficult for children. Cost associated with insulin therapy is also relatively high. These are expected to be factors supporting growth of the market.
Developments in the diabetes vaccine market
Imcys— a Belgium-based biotech company— announced plans to commence its clinical trial in 2018 for new diabetes vaccine to treat type 1 diabetes. It uses modified peptides called imotopes, which spurs specific type of immune cell to kill immune cells that work on the insulin producing beta cells.
Moreover, in 2017, Massachusetts General Hospital Immunobiology Laboratory presented findings of clinical trial at 75th Scientific Sessions of the American Diabetes Association, related to use of BCG vaccine to treat autoimmune response in type 1 diabetes. BCG vaccine could induce a permanent gene expression that restores regulatory T cells, thereby preventing the immune system attack, which is observed in type 1 diabetes. It is currently under phase two clinical trial.
North America market is expected to exhibit high growth, followed by Europe and Asia Pacific markets over the forecast period
North America is expected to exhibit high growth in the global diabetes vaccine market over the forecast period. This is owing to increasing incidence of diabetes and high resultant healthcare burden in the U.S. For instance, according to IDF, 17,100 new cases were detected in 2017 in the U.S. Around US$ 377 billion was spent over entire diabetes disease range, which accounts for about 52% of the total healthcare expenditure on diabetes worldwide. Significant part of which goes into maintaining constant blood sugar in type 1 by use of insulin.
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According to statistics released by American Diabetes Association, in 2017, around 193,000 people under 20 years of age in the U.S. were estimated to be diagnosed with diabetes, which accounts for 0.24% of this population. This inadvertently, is expected to create a conducive environment for growth of the market. U.S. has maximum number of children and adolescent(under age 20) with Type 1 diabetes at range of 1,69,600 in 2017,this is followed by India with highest cases type 1 diabetes after the U.S at range of 1,28,500 as reported by IDF.
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