Type 1 Diabetes Market Overview 2024-2033 - Share, Size, Insights, Forecast

The new report published by The Business Research Company, titled Type 1 Diabetes Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the type 1 diabetes market size has grown rapidly in recent years. It will grow from $10.25 billion in 2023 to $11.82 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The type 1 diabetes market size is expected to see rapid growth in the next few years. It will grow to $19.91 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%.

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Government Initiatives Fueling Growth In The Type 1 Diabetes Market
Rising government initiatives to combat diabetes are expected to propel the growth of the type 1 diabetes market going forward. Government initiatives refer to actions, policies, programs, or projects undertaken by a government or governmental agency to address specific issues, achieve goals, or bring about positive changes in various sectors of society. Foremost government authorities are introducing multiple initiatives to combat diabetes, including type 1 diabetes, reducing the risk of diabetes and ensuring that all people diagnosed with diabetes have access to equitable, comprehensive, affordable and quality treatment and care. For instance, in July 2023, the government of Canada collaborated with JDRF Canada, a Canada-based non-profit organization that invested $33 million to support 12 research projects that would work to prevent, detect, manage and treat diabetes. This funding would also support a national screening research consortium that would bring together experts and people affected by diabetes to advance screening for early-stage, pre-symptomatic type 1 diabetes in Canada. Therefore, rising government initiatives to combat diabetes are driving the growth of the type 1 diabetes market.

Advancements In Smart Guard Technology For Type 1 Diabetes Care
Major companies operating in type 1 diabetes are focused on the development of technologically advanced solutions such as smart guard technology to sustain their position in the market. SmartGuard is a technology that helps people with diabetes who may fear hypoglycemia or unawareness. For instance, in March 2022, Medtronic Plc, an Ireland-based company engaged in medical technology, services and solutions, launched the MiniMed 780G system with advanced SmartGuard technology. This product is a next-generation closed-loop insulin pump system that simplifies type 1 diabetes management. This system automates the delivery of basal insulin and correction boluses every five minutes to help patients with diabetes avoid highs and lows with greater ease. Additionally, with this system, patients can reduce variability and maintain glucose levels within defined parameters, leading to a near-normal life and better clinical outcomes.

The type 1 diabetes market covered in this report is segmented -

1) By Product Type: Rapid Acting Insulin Analogs; Long-Acting Insulin Analogs; Premix Insulin Analogs; Others Product Types
2) By Device: Insulin Pump; Insulin Pen; Blood Glucose Meter
3) By Application: Childrens; Adults
4) By End-User: Hospital; Research Institutes; Home Care

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Major players in the type 1 diabetes market are Johnson and Johnson Limited, Merck and Co. Inc., Sanofi-Aventis LLC., AstraZeneca PLC, Abbott Laboratories, Medtronic PLC, Eli Lilly and Co Ltd., Novo Nordisk A/S, Vertex Pharmaceuticals Incorporated, Dexcom Inc., Insulet Corporation, Tandem Diabetes Care Inc., Adaptive Biotechnologies Corporation, Xeris Pharmaceuticals Inc., MannKind Corporation, Biocon Ltd., Virta Health Corp., Bigfoot Biomedical Inc., ViaCyte Inc., Beta Bionics Inc., Adocia SA, Senseonics Holdings Inc., Zealand Pharmaceuticals A/S, Sigilon Therapeutics Inc., Provention Bio Inc.

Contents of the report:
1. Executive Summary
2. Type 1 Diabetes Market Report Structure
3. Type 1 Diabetes Market Trends And Strategies
4. Type 1 Diabetes Market - Macro Economic Scenario
5. Type 1 Diabetes Market Size And Growth
…..
27. Type 1 Diabetes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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