The market for insulin glargine was valued at US$6,153.5 million in 2021, and it is anticipated that it would grow at a CAGR of 0.2% from 2022 to 2028 to reach US$6,257.7 million. The expanding elderly population and increased incidence of diabetes throughout the world are driving rapid growth in the worldwide market for insulin glargine. Furthermore, the market is anticipated to rise as a result of rising insulin glargine demand and public awareness. The release of or access to insulin biosimilars are two significant reasons that are anticipated to restrain the growth of the insulin glargine market.
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Market Drivers
Over the course of the projected period, rising diabetes rates globally are anticipated to boost market growth for insulin glargine. Insulin glargine, a long-acting medicinal insulin, is used, like other forms of insulin, to maintain blood sugar levels that are close to normal. Around 537 million individuals (20-79 years old) already have diabetes, and the figure is expected to climb to 643 million by 2030 and 783 million by 2045, according to the International Diabetes Federation (IDF) report for 2021.
The worldwide market for insulin glargine is anticipated to rise over the projected period as more people throughout the world utilise the drug. Insulin glargine is a self-injectable medication that has become more widely used because it is effective in lowering blood sugar levels (hyperglycemia) in people with type 1 and type 2 diabetes. SEMGLEE (insulin glargine-yfgn) injection and Insulin Glargine (insulin glargine-yfgn) injection will be made available in the United States in November 2021 to help individuals with type 2 diabetes and adults with type 1 diabetes manage their high blood sugar levels.
Market Opportunities
Players in the worldwide insulin glargine market may anticipate to benefit from attractive growth prospects as public awareness of diabetes management rises. For instance, November is National Diabetes Month, when localities all across the United States band together to raise awareness of diabetes. Preventing diabetes and prediabetes are the main topics. The National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) established Diabetes Month to increase public awareness of diabetes.
Significant potential prospects for participants in the insulin glargine market are anticipated to result from increased research and development or increased focus on the creation of safe/effective insulin. For instance, an MIT-led research team created a medication capsule in February 2019 that is roughly the size of a blueberry and may be used to dispense oral dosages of insulin, possibly removing the need for insulin injections.
Market Trends
The development of the worldwide market for insulin glargine is anticipated to be fueled by the regular approval and introduction of innovative products by industry participants. For instance, Semglee (insulin glargine-yfgn), which is recommended to enhance glycemic control in people with Type 2 diabetes mellitus and in paediatric patients with Type 1 diabetes, was authorised by the Food and Drug Administration (FDA) in July 2021.
The launch of innovative products by industry participants is anticipated to support the expansion of the worldwide insulin glargine market. For instance, in August 2020, Mylan N.V. and Biocon Biologics India Ltd. announced the introduction of their insulin glargine injection, known as Semglee, in vial and pre-filled pen presentations in the United States.
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Key Developments
The University of Toronto and Novo Nordisk jointly announced a 200 DKK million investment in February 2021 to target diabetes and chronic illness prevention.
Health2Sync and Sanofi joined forces in September 2020 to implement the digital solution offered by Health2Sync in 300 hospitals and clinics countrywide that have been approved by Taiwan Diabetes Shared Care Network over the course of the next three years.
The European Commission approved the use of Rybelsus (oral semaglutide) to treat individuals with type 2 diabetes that is not well managed in order to enhance glycaemic control as a supplement to diet and exercise in April 2020, according to Novo Nordisk.
Key Companies Insights
The market for insulin glargine is quite cutthroat. Due to the rising prevalence of diabetes and the ageing population, industry participants are concentrating on introducing innovative goods to the marketplace.
In addition to others, Julphar, Biocon, Eli Lilly, Sanofi Aventis, and Novo Nordisk AS are a few of the major companies in the world market for insulin glargine.
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Table of Content
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Geography
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increasing prevalence of diabetes worldwide
- High cost of insulin glargine
- Increase in awareness about diabetes management
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Global Insulin Glargine Market– Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global Insulin Glargine Market, By Type, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Insulin Glargine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global Insulin Glargine Market, By Geography, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Middle East and Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Rest of World
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Introduction
- Competitive Landscape
- Julphar
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Biocon
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Eli Lilly
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Sanofi Aventis
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Novo Nordisk AS
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Analyst Views
- Julphar
- Section
- Research Methodology
- About us
About Coherent Market Insights
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