Worldwide type 1 diabetes market forecast to reach $7 billion by 2021; Report

The type 1 diabetes mellitus (T1DM) market across the eight major countries of the USA, Canada, France, Germany, Italy, Spain, the UK and Japan will expand from $4.2 billion in 2014 to $7.1 billion by 2021, at a robust compound annual growth rate (CAGR) of 7.9%, new research indicates.

According to business intelligence provider GBI Research’s latest report, this rise will be driven by the uptake of recently approved and pipeline premium products, as well as the rapidly expanding treatment population, which is attributable to the increasing incidence of T1DM, as well as the fact that patients are being diagnosed at younger ages and living longer due to improved treatment options.

Fiona Chisholm, an analyst for GBI Research, says that 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 (Euronext: SAN) Lantus (insulin glargine), Eli Lilly’s (NYSE: LLY) Humalog (insulin lispro) and Novo Nordisk’s (NOV: N) Levemir (insulin detemir) and NovLog (insulin aspart), there are reasons to be optimistic.