Type 1 Diabetes Mellitus Market to Grow from $4.2 Billion in 2014 to $7.1 Billion by 2021, Says GBI Research
LONDON, November 24, 2015 /PRNewswire/ --
The uptake of recently approved and pipeline premium products for Type 1 Diabetes Mellitus (T1DM), will be a key driver of market growth to 2021, says GBI Research.
Analysis from business intelligence provider GBI Research - Type 1 Diabetes Mellitus Therapeutics in Major Developed Markets to 2021 - states that the global market value for T1DM treatment will rise from $4.2 billion in 2014 to $7.1 billion by 2021, at a robust Compound Annual Growth Rate (CAGR) of 7.9%.
This increase will occur across the eight major countries of the US, Canada, France, Germany, Italy, Spain, the UK and Japan. For a complimentary sample of this research, please visit the GBI Research website.
Analyst Fiona Chisholm: "While the T1DM market faces the threat of considerable biosimilar erosion over the forecast period, owing to recent and upcoming patent expirations for several of the leading insulin brands, such as Sanofi's Lantus, Eli Lilly's Humalog and Novo Nordisk's Levemir and Novolog, there are reasons to be optimistic.
"Despite this apparent vulnerability of the market, all of these companies have strong pipeline products in development, and will therefore maintain their positions as dominant players in T1DM over the forecast period.
"Indeed, technological advances in recent decades have led to the development of improved exogenous insulin therapies, capable of mimicking endogenous insulin activity more effectively. As such, there are several promising insulin products in development, including Novo Nordisk's NN-1218 and Eli Lilly's insulin peglispro."
GBI Research's report also identifies a strong trend in the pipeline for the development of non-insulin therapies, including adjuvant therapies capable of reducing hyperglycemia in an insulin-independent manner, and products attempting to disrupt the pathological immune-mediated destruction of pancreatic beta cells.
Chisholm continues: "Several of the adjuvant therapies are in late-stage drug development, and have demonstrated strong clinical profiles. The emergence of such treatments will drive strong market growth over the forecast period.
"Additionally, products disrupting the destruction of pancreatic beta cells are likely to have a greater impact on the T1DM treatment algorithm over the longer term."
About GBI Research
GBI Research is a leading provider of business intelligence reports, offering actionable data and forecasts based on the insights of key healthcare industry influencers to ensure you stay up-to-date with the latest market trends.
For the full range of market-leading analysis on the pharmaceutical industry, visit GBI Research's report store.
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SOURCE GBI Research
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