Type 1 Diabetes – Drug Pipeline Analysis and Market Forecasts to 2016

The Type 1 Diabetes Therapeutics Market is Forecast to Show Moderate Growth until 2016

Online PR News – 23-January-2010 – – GlobalData has estimated the global type 1 diabetes therapeutics market to be valued at $2.7 billion in 2009. It is expected to grow to $4.1 billion with a Compound Annual Growth Rate (CAGR) of 6.1% by 2016. This growth is primarily attributed to the increase in average cost of therapy of existing treatment option and increased rate of treatment seeking in type 1 diabetes patients. Novo Nordisk and Eli Lilly remain the market leaders within the global type 1 diabetes Therapeutics market. The type 1 diabetes market accounted for only 11% of the total diabetes market and for approximately 8% of the total population suffering from type 1 diabetes.

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The prevalence rate for type 1 diabetes globally was identified at 0.6% and this accounted to approximately 4.2 million people. Type 1 diabetes is an autoimmune condition and is generally found in young adults and children. The number of people with type 1 diabetes is estimated to increase at a slower rate of 1.2% between 2009 and 2016. The number of type 1 diabetes patients had increased with a higher rate of 1.5% during the period 2001-1009. Therefore the increase in average cost of therapy will be the key to growth in the market. The average cost of therapy is expected to increase at a CAGR (2009-2016) OF 4.5%. The increase in average cost of therapy is primarily driven by the higher cost of insulin analogs. The increase in awareness about type 1 diabetes due to awareness programs held in key countries will continue to improve the treatment seeking behavior. The increase in people who seek treatment can be converted to increase in prescription through effective diagnosis tests available in the market.

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The current market is dominated by insulin and insulin analog products. These products have similar efficacy and safety profile with only marginal differences. This has increased the competition further in the market. The manufacturers are forced to compete on pricing or improving the dosage requirements of their current marketed products. In addition the presence of a few promising drugs such as Oral-lyn, and monoclonal antibodies in the late stage pipeline means that the competition will increase further once these products are successfully launched in the market. The current market also lacks any generic insulin product despite two insulin products loosing patent protection. This is because of the lack of proper guidelines for the introduction of biogenerics. In Europe where the guidelines for approval of biosimilars exist, insulin biosimilar was filed by Marvel LifeSciences. This was later withdrawn as it did not meet the required guidelines.

GlobalData, the industry analysis specialist’s new report “Type 1 Diabetes - Drug Pipeline Analysis and Market Forecasts to 2016” is an essential source of information and analysis on the global type 1 diabetes disorder market. The report identifies the key trends shaping and driving the market, and provides insight on the prevalent competitive landscape and the emerging players expected to bring a significant shift in the market positioning of the existing market leaders. Most importantly, the report provides valuable insight on the pipeline products within the global diabetes disorder sector.

For further details, please click or add the below link to your browser:
http://www.global-market-research-data.com/Report.aspx?ID=Type-1-Diabetes-Drug-Pipeline-Analysis-and-Market-Forecasts-to-2016

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