Type 1 Diabetes Market to Double to $13.6B
Friday, March 20, 2015
This is according to analysts from GlobalData, who found that the US would remain biggest T1D treatment market with average insulin price five to six times higher than other major countries.
The global treatment market for type 1 diabetes will expand from $6.6bn in 2013 to an estimated $13.6bn by 2023, representing a compound annual growth rate (CAGR) of 7.6%.
The company's latest report states that across the eight major markets of the US, France, Germany, Italy, Spain, UK, Japan, and Canada, growth will be driven primarily by increasing T1D incidence and the substantially higher annual cost of therapy (ACoT) in the US.