Global Type 1 Diabetes Market Research and Forecast 2018-2023

Posted by Orion Market Research on July 31st, 2018

The global type 1 diabetes market is expected to grow modestly during the forecast period owing to growing incidence and prevalence of diabetes and cohesive government policies. Type 1 diabetes is a serious, chronic condition that is caused when insulin is not created within the body, making the glucose level too high. It is the condition when cells that make insulin are attacked and destroyed by the body, it causes type 1 diabetes. Out of all the diabetic patients, only 5% have type 1 diabetes. The growth of the market is also dependent on technological advancement in the insulin delivery and rising demand for minimally invasive and non-invasive insulin delivery.

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The other factors contributing to the growth of the market include cohesive government policies, initiatives and programs for the type 1 diabetes. Apart from this, increasing chronic diseases associated with diabetes are contributing significantly to the growth of the market. However, certain factors such as high cost of the diagnosis and treatment therapies for diabetes may hamper the growth of global type 1 diabetes market. Geographically, the global type 1 diabetes market has been divided into North America, Europe, Asia Pacific and Rest of the World. North America dominates the global type 1 diabetes market due to technological advancements and supportive government initiatives in this region. APAC is anticipated to be the most emerging market due to increasing number of diabetics due to obesity, geriatric population, and changing lifestyles of the people.

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The companies contributing to the growth of global type 1 market includes Abbott Laboratories, Bayer AG, Eli Lilly and Company, GlaxoSmithKline, Johnson & Johnson Ltd., Merck & C0., and Pfizer Inc. Majority of the players are adopting various strategies such as mergers and acquisitions or entering into strategic alliance with other major players from the market in order to gain a competitive edge over others and enhance their presence.

Research Methodology:

The market study of type 1 diabetes market is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The OMR team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. The numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analysts to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts to get first-hand information. Primary research brings authenticity to our reports.