New York, NY, March 01, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Type 1 Diabetes Market By Insulin Analog (Rapid-Acting Insulin Analogs, Long-Acting Insulin Analogs, and Premix Insulin Analogs): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” .
“According to the research study, the global Type 1 Diabetes Market was estimated at USD 2,000 Million in 2019 and is expected to reach USD 2,800 Million by 2026. The global Type 1 Diabetes Market is expected to grow at a compound annual growth rate (CAGR) of 5% from 2019 to 2026”.
Type 1 diabetes is a type of diabetes where an autoimmune response towards insulin-making beta cells of the pancreas leads to the early destruction of the pancreas. Type 1 diabetes mellitus is idiopathic but has a strong association with genes such as HLA-DR4 and HLA-DR3. Type 1 diabetes symptoms are increase thrust, extreme weight loss stomach upset, increase frequency of urination, fatigue, delayed healing, etc. One of the key remedies against type 1 diabetes is insulin therapy. Parents and the child should have proper knowledge of the condition. The primary goal in the case of type 1 diabetes is to keep the insulin level as close to normal. The treatment prescribed to the patient involves monitoring the blood sugar level within limit via diet, exercise, and insulin therapy. If left untreated, the type 1 diabetic patient experiences loss of consciousness. Uncontrolled diet and insulin may cause high blood sugar (hyperglycemia), increased ketones in urine, hypoglycemia, etc.
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Type 1 Diabetes Market?
2) What is the market size, share of the Type 1 Diabetes Market?
3) Who are the top market players in the Type 1 Diabetes Market?
4) What will be the future market of Type 1 Diabetes Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
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In the last few years, there has been a steady rise in type one diabetes in children. Changing lifestyles in urban and rural parts of the world have led to the high exposure of pollution and unhealthy diet patterns among children, which has led to an increase in the number of children affected with type 1 diabetes. Type 1 diabetic patients have to rely solely on external insulin supply. These patients have to carry insulin pens for medication. Owing to such primary dependency of patients insulin has driven the global injectable insulin market. With the advancements of biomedical technology, the emergence of genetic consulting is anticipated to create new types of treatments for type 1 diabetes. Also, the Food and Drug Administration approved the first-ever artificial pancreas for type 1 diabetic patients aging 14 and old. Such technological advancements are likely to create new avenues for the global type 1 diabetic market. However, lack of awareness among patients regarding types of treatment available has hampered the market for injectable insulin for type 1 diabetes.
Top Market Players:
- Eli Lilly and Company
- Bayer Pharmaceuticals
- Novo Nordisk
- AstraZeneca PLC.
- XOMA Corp.
- DiaVacs Inc.
- B.BraunMelsungen AG
- Biodel Inc.
- Macrogenics Inc.
- Takeda Pharmaceutical
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Based on insulin analog, the rapid-acting insulin analogs segment dominated the global type 1 diabetes market, accounting for a market share of 40% in 2019. A rapid-acting insulin is taken 15 minutes before a meal. Rapid-acting insulin has an onset and peak of nearly 15 minutes and 30 to 90 minutes respectively. Rapid-acting insulin offers a key advantage as it controls postprandial glucose.
The report study further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the type 1 diabetes sector. Key strategic developments in the type 1 diabetes market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the type 1 diabetes market are appropriately highlighted in the report.
The type 1 diabetes market research report delivers an acute valuation and taxonomy of the type 1 diabetes industry by practically splitting the market on the basis of different types, categories, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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Diabetes is a defect in metabolism in the pancreas which results in hyperglycemia. Type 1 diabetes also known as insulin-dependent diabetes mellitus or juvenile diabetes is a condition where there is an immune response against insulin-producing beta cells of the pancreas. In type 1 diabetes, there has to be an external supply of insulin hence called insulin-dependent diabetes mellitus. The most severe form of diabetes leads to the early destruction of organs. A person can prevent type 2 diabetes by avoiding sugar enrich food products in the diet, however, such prevention is not possible when it comes to type 1 diabetes. The immune system strikes colonies of cells in the body that would normally generate insulin, called islets, blocking or slowing down insulin supply.
In recent years, there has been a steady rise in the number of type 1 diabetic patients. Type 1 diabetes is treated with injectable insulin and this type of insulin can’t be treated with oral supplements. Injectable insulin uses an insulin pen to inject insulin under the skin. Type 1 diabetic patients have to mainly rely on injectable insulin. Such dependency on patients has driven the global type 1 diabetes insulin market.
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The type 1 diabetes market is segmented based on drug type and region. On the basis of insulin analogs, the market is classified into rapid-acting insulin analogs, long-acting insulin analogs, and premix insulin analogs.
Based on geography, the North America segment dominated the global type 1 diabetes market in 2019. The North America region held a major share of nearly 35% in the global type 1 diabetes market in 2019. The growth in the region is attributable to rising consumer spending on healthcare and advancements in healthcare technology. Further, the increase in the number of type 1 diabetic patients has also contributed to driving the North America type 1 diabetes ma rket.
Browse the full “Type 1 Diabetes Market By Insulin Analog (Rapid-Acting Insulin Analogs, Long-Acting Insulin Analogs, and Premix Insulin Analogs): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” report at https://www.fnfresearch.com/type-1-diabetes-market-by-insulin-analog-rapid-1256
This report segments the type 1 diabetes market as follows:
Global Type 1 Diabetes Market: By Insulin Analog Segmentation Analysis
- Rapid-Acting Insulin Analogs
- Long-Acting Insulin Analogs
- Premix Insulin Analogs
Key Insights from Primary Research
- Our primary respondents predict that the global type 1 diabetes market is expected to grow at a CAGR of nearly 5% over the projected period.
- The rising number of type 1 diabetes patients around the world has driven the consumption of insulin, which has driven the type 1 diabetes market.
- Our primary respondents also estimate that the global type 1 diabetes market in 2026 is expected to reach a market value of nearly USD 2,800 million.
- Asia Pacific market is anticipated to grow at the fastest rate over the projected period owing to the increasing population and rising number of type 1 diabetic patients.
- Emerging technologies in healthcare have led to the development of artificial pancreas is likely to create favorable conditions for new types of diabetic treatments.
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