Asia Pacific Insulin Market

The Asia Pacific insulin market size is estimated to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing cases of lifestyle-induced disease such as obesity and increasing incidence rate of diabetes in the region.

Insulin is a hormone that makes it easier for glucose to enter blood cells. The body's incapability to create enough insulin causes sugar to build up in the bloodstream, resulting in an increasing blood sugar levels and, eventually, diabetes. In the region, diabetes is one of the fastest-growing chronic diseases particularly in India, China and Japan. Due to the rising prevalence of diabetes and obesity as well as a favorable regulatory environment in the region, China is anticipated to lead the market in the long run. According to report published by the International Diabetes Federation, global diabetes prevalence is predicted to increase from 366 million in 2011 to 552 million by 2030. Rapid progress in the number of diabetic patients is expected to have a significant impact on market growth during the forecast period. Furthermore, despite the fact that insulin has been used to treat diabetes for over 90 years, more than half of those who use it today cannot afford it due to its high cost.

The COVID-19 outbreak, as an infectious disease, which was started in Wuhan (China) in December 2019 has become global pandemic in matter of few weeks. This outbreak of COVID-19 pandemic has affected the market as it forced to shut the production units globally. Moreover, low demand for instruments and consumables along with the global supply chain interruptions and trade restrictions have harmed the pharmaceutical analytical testing outsourcing market for months.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing number of pre-diabetic patients’ population and rising network distribution of overseas manufacturers are expected to boost the market in the region.
• Presence of favorable regulatory policies and availability of medical reimbursement framework are key factors propelling the market growth.
• Growing technological advancement of healthcare infrastructure in the region is anticipated to fuel the market growth in coming years.
• Less awareness of diabetic patients about advanced diabetic treatment alternatives and high cost involved in product manufacturing are some of the major restraining factors hampering the market expansion.
• Increasing diabetes-related health expenditure in emerging economies and safety needles are likely to offer immense opportunities for the market development in the long run.

Scope of the Report

The report on the Asia Pacific insulin market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Rapid acting analog segment is expected to grow at a rapid pace

Based on products, the Asia Pacific insulin market is divided into long acting analog, rapid acting analog, short acting analog, intermediate insulin, pre-mixed insulin, and premixed analog. The rapid acting analog segment is expected to grow at a rapid pace during the forecast period owing to the family diabetic history, unhealthy eating habits, sedentary lifestyle, and higher insulin resistance.

Moreover, the growing number of R&D activities, presence of major players operating in the region, and introducing advanced rapid-acting analog with an aim to cater the growing demand are the driving factors propelling the segment growth. According to a 2016 analysis by The Australian Centre for Complex Integrated Surgical Solutions (ACCISS), pharmaceutical firms including Sanofi, Novo Nordisk, and Eli Lily dominated the rapid-acting analog market.

Type I diabetes segment is projected to expand at a considerable CAGR

On the basis of applications, the market is bifurcated into type I diabetes and type II diabetes. The type I diabetes segment is projected to expand at a considerable CAGR during the forecast period owing to the growing usage of insulin for the treatment of type I diabetes along with the introduction of new drugs in the market.

Moreover, the number of type 1 diabetes patients has been constantly increasing in the recent years. The injectable insulin is used to treat type 1 diabetes, which cannot be treated with oral supplementation. It is administered by the skin using an insulin pen. Furthermore, patients with type 1 diabetes mostly rely on injectable insulin. Because of this reliance on people, the type 1 diabetes is estimated to boost the segment in the long run.

Analogs segment is estimated to register a large revenue share

Based on sources, the Asia Pacific insulin market is segmented into recombinants insulin, analogs, and others. The analogs segment is estimated to register a large revenue share during the forecast period. The growth of the segment is attributed to the increasing market infiltration of brands in developing & less developing markets such as Lantus and the introduction of new products in the market.

China is anticipated to constitute a key market share

In terms of geography, the market is classified as India, China, South Korea, Japan, and Rest of Asia Pacific. China is anticipated to constitute a key market share during the forecast period owing to the rising number of patient pools and relaxing regulatory process for insulin drugs in the country. However, the market for biosimilar pharmaceuticals is growing rapidly in Asia-Pacific, with China's Gan&Lee Basalin accounting for about 40% of the overall Glargine market. Furthermore, type 2 diabetes (T2D) has become a major public health issue in China over the last decade. Thus, it is expected to upsurge the market in the region during the forecast period.

Segments

The Asia Pacific insulin market has been segmented on the basis of

Products

• Long Acting Analog
• Rapid Acting Analog
• Short Acting Analog
• Intermediate Insulin
• Pre-mixed Insulin
• Premixed Analog

Applications

• Type I Diabetes
• Type II Diabetes

Sources

• Recombinants Insulin
• Analogs
• Others

Geography

• India
• China
• South Korea
• Japan
• Rest of Asia Pacific

Key Players

• Novo Nordisk
• Biocon
• Eli Lilly and Co.
• Boehringer Ingelheim
• Sanofi Aventis
• Merck & Co.
• Takeda Pharmaceuticals
• Oramed Pharmaceuticals
• Nanjing Xinbai Pharmaceutical Co. Ltd.

Competitive Landscape

Some of the key players competing in the Asia Pacific insulin market are Novo Nordisk; Biocon; Eli Lilly and Co.; Boehringer Ingelheim; Sanofi Aventis; Merck & Co.; Takeda Pharmaceuticals; Oramed Pharmaceuticals; and Nanjing Xinbai Pharmaceutical Co. Ltd. These major players are implementing various marketing strategies such as capital investments, merger & acquisitions, and new product development to enhance their market position in the regional competition.

In India, Cipla has amalgamated with Eli Lilly to distribute and market Lilly’s insulin glargine injection, basaglar. On the other hand, Sandoz and Gan&Lee has signed partnership agreement for the commercialization of technologically advanced insulin developed by Gan&Lee. Furthermore, in the EU, Japan, the US, Switzerland, Canada, Australia, South Korea, and New Zealand, Sandoz is likely to be solely responsible for commercializing these drugs.