Blitz Bureau
NEW DELHI: Global Type 1 diabetes market is set to grow at a compound annual growth rate (CAGR) of 13.3 per cent from $2.2 billion in 2023 to $9.9 billion in 2033, according to a report on December 2. The report by GlobalData, a data and analytics company, showed that the growth will be particularly in the seven major countries like the US, France, Germany, Italy, Spain, the UK, and Japan.
Among these countries, the US has the largest market, accounting for 80.4 per cent of global sales in 2023 ($2.2 billion). It is expected to gain further market share during the forecast period, accounting for 91.6 per cent of the seven countries for Type 1 diabetes sales by 2033 ($9.0 billion).
The growth in these countries is driven by the anticipated introduction of several late-stage pipeline products, including multiple immunomodulatory agents, during the forecast period, said the report.
“The increasing popularity of rapid-acting and ultra-rapid-acting insulin analogues in line with rising insulin pump use is expected to improve patient outcomes by optimising glycemic control,” said Sulayman Patel, Pharma Analyst at GlobalData.
Research shows “high volumes of prescribing physicians and patients have demonstrated positive attitudes towards the use of ultra-rapid insulin analogues, which is expected to drive Type 1 diabetes market growth.”
The late-stage Type 1 diabetes pipeline consists of several agents, including Eli Lilly’s insulin efsitora alfa, Novo Nordisk’s Awiqli (insulin codec), Johnson & Johnson’s ustekinumab, Dompe Pharmaceuticals’ ladarixin, and Diamyd Medical’s vaccine for Type 1 diabetes.
Sanofi’s Tzield (teplizumab) is the only approved disease-modifying therapy for Type 1 diabetes.
Tzield received FDA approval in November 2022 and is the first treatment for Type 1 diabetes that targets the underlying disease mechanisms by delaying the onset of stage 3 Type 1 diabetes in patients 8 years and older.
The report expects Tzield to gain European approval and become the top-selling drug in the Type 1 diabetes market with sales of $4.8 billion across the seven countries in 2033.
