The global biosimilars insulin market size is projected to expand at a CAGR of 34.2% during the forecast period. The growth of the market is attributed to increasing number of diabetic patients.

Biosimilars is a biological product designed to have similar active properties to the one that has been previously licensed and has no clinically significant differences in terms of safety and effectiveness. Biosimilars insulin is a type of biosimilars where it is indistinguishable to the reference insulin product and is already been approved by FDA or licensed. Biosimilars development represents a large profit potential for pharmaceutical manufacturers. Major insulin prouder has biosimilars as their patented product. Insulin was discovered ninety years back and even today therapy remains a staple of treatment for both type I and type II diabetes. Five main types of insulin are regular insulin, NPH, rapid-acting analogs, basal analogs, and pre-mixed insulin. Regular insulin and NPH are synthetic form of naturally occurring human insulin. Insulin analogs are similar to human insulin but have their amino acid sequences altered to provide desired chemical properties. The WHO data shows that the maximum age group of the diabetics is 45 and above. The instruments in which the insulin is used are also relatively expensive.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing number of diabetic patients worldwide is projected to drive the market.
- High cost of the product is estimated to hinder the market growth.
- Lack of awareness among the consumers act as major factor that hampers the market growth.
- R&D investments and technological advancements in medical field are anticipated to create immense growth opportunities for the market players.
Scope of the Report
The report on the global biosimilars insulin market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Biosimilars Insulin Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2021–2028
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Segmentation
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Types (Insulin Glargine Basaglar and Insulin Lantus) and End Users (Type I Diabetes and Type II Diabetes)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Eli Lilly, Boehringer Ingelheim, Merck, Pfizer, Biocon, and Mylan.
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Market Segment Insights:
The insulin glargine basaglar segment is estimated to expand at a high CAGR
Based on type, the biosimilars insulin market is bifurcated into insulin glargine basaglar and insulin Lantus. The glargine basaglar insulin is projected to hold major market share. Basaglar is biologically similar to Sanofi's basal insulin Lantus (insulin glargine), including the same protein sequence and a similar glucose-lowering effect. While the FDA does not call it a “biosimilar” drug for regulatory reasons, it can essentially be thought of as an alternative form of Lantus. Insulin Lantus is also known as insulin glargine.
The type I segment is estimated to hold major market share during the forecast period
On the basis of end users, the global biosimilar insulin market is bifurcated into type I diabetes and type II diabetes. Biosimilar insulin is used by type 1 and type 2 diabetes. Biosimilar insulin proved to have an effective treatment for patients suffering from diabetes mellitus by reducing the cost for the treatment. According to a report of World Health Organization (WHO), around 422 Mn adults are suffering from diabetes and around 1.5 million people have been killed by diabetes.

The market in North America is projected to hold a major market share
In terms of regions, the global biosimilars market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is subjected to hold major share in the biosimilars insulin market. This is because of the high number of diabetes patients in the region.
The market in Asia Pacific is increasing due to rising number of patients in recent years in developing countries such as India and China.

Segments
Segments Covered in the Report
The global biosimilars insulin market is segmented on the basis of
Types
- Insulin Glargine Basaglar
- Insulin Lantus
End – users
- Type I Diabetes
- Type II Diabetes
Regions
- Asia Pacific
- North America
- Latin America
- Europe
Key Players
- Eli Lilly
- Boehringer Ingelheim
- Merck
- Pfizer
- Biocon
- Mylan
Competitive Landscape
The global biosimilars insulin market is highly competitive and major market players include Eli Lilly, Boehringer Ingelheim, Merck, Pfizer, Biocon, and Mylan. The global insulin biosimilars market has developed over the last few years. Companies are engaging in mergers, acquisitions and partnerships to extend their market share. Moreover they are focusing on expanding their product portfolio to leverage their market position. In addition, many insulin manufacturing firms are likely to lose their patents quite soon, which is likely to offer ample growth opportunities for the global insulin biosimilars market. Increased investment by government agencies on the research and development activities pertaining to insulin biosimilars is providing ample scope of development for the market.
