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According to the Center for Disease Control (CDC), 18.8 million people have been diagnosed with diabetes. Type 2 diabetes accounts for about 95% of diagnosed diabetes patients. Per the CDC, up to 74% of those with Type 2 diabetes are pre-insulin dependent. This means that the patients still have a functioning pancreas and thus could potentially benefit from treatment with MABp1. Consequently, there are at least about 13 million people in the U.S. that could potentially benefit from MABp1.
The global market for Type 2 diabetes therapeutics reached $23.7 billion in 2011. This market grew with a CAGR of 11.8% between 2002 and 2011. While the CAGR is anticipated to taper over the next ten years, the market for Type 2 diabetes drugs are expected to hit $45.1 billion by 2020.
Growth in the global Type 2 diabetes market is driven by increasing incidence and higher costs for therapy with new drugs. The cost of therapy was spurned by newly approved drugs, which have quickly become the standard of care.
As of 2011, the US was the leading market for Type 2 diabetes therapy, representing an estimated 52.7% of the global market. Japan was the second leading market with an approximate market share of 12.8%, closely followed by Germany with an approximate market share of 7.5%. The leading drug in the sector achieved worldwide sales of $3.6 billion in 2011.
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