According to the report, global demand for insulin glargine market was valued at approximately USD 3.88 billion in 2018, and is expected to generate revenue of around USD 9.26 billion by end of 2025, growing at a CAGR of around 13.25% between 2019 and 2025.
The report covers forecast and analysis for the insulin glargine market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the insulin glargine market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the insulin glargine market on global as well as regional level.
In order to give the users of this report a comprehensive view on the insulin glargine market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the insulin glargine market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the insulin glargine market on global and regional basis.
The study provides a decisive view on the insulin glargine market by segmenting the market based on type, application, distribution channel and region. All the segments of sequencing reagents market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
Insulin glargine is a basal insulin analogue whose effect persists for a long time. It is administered daily and helps to control blood sugar levels. This is used in the case of diseases like diabetes. It has microcrystals which have a peakless profile. These microcrystals release insulin and have an effect lasting up to 18 to 26 hours. Insulin glargine acts like human insulin. It replaces the natural insulin and transfers sugar from the blood to body tissues. These tissues in turn use it for energy. The liver also produces a large amount of sugar which is controlled by the intake of insulin glargine.
Some of the major factors leading to the growth of the global insulin glargine market include the rise in detection of diabetes and the increase in requirement for insulin analogs. Also, there is much advances in technology used in the field of insulin delivery instruments which further accelerate the growth of this market. Furthermore, there are many measures brought out for fast and convenient medical reimbursement policies. However, the high costs of these products and strict regulations for product approval may act as restraining factors for growth of the insulin glargine market.
On the basis of the type the market is divided into pre-filled syringe and single dose vial. The pre-filling of syringes is carried out when injections consisting of NPH and regular insulin have to be administered. Pre-filled syringe segment accounted for largest market share in 2018 whereas single dose vial segment will register highest growth over the forecast period.
Based on applications insulin glargine market has been segmented into type 1 diabetes and type 2 diabetes. Based on distribution channel the global insulin glargine market is segmented into hospital pharmacy, online sales, retail pharmacy and other distribution channels. Hospital pharmacy distribution channel segment accounted for the largest market share in 2018 whereas online sales segment is expected to register highest growth for the coming years due to increasing penetration of e-pharmacies across the globe.
Regions that dominate this market are North America, Europe, and Asia-Pacific. North America is the prominent player in this market due to increase in occurrence of diseases such as diabetes which require insulin glargine. There are a large number of patients and doctors who recommend the use of insulin glargine to treat diabetes. There is lack of exercise and hereditary issues leading to rise in incidence of diabetes among people of North America. Also the health infrastructure is highly sophisticated and developed resulting in the growth of the market. European markets have a large share of the market owing to a large number of cases of diabetes that have increased over the years. The incidence of diabetes increases due to the sedentary lifestyles of most people. There are many leading companies producing insulin glargine. There is rise in incidence of diseases which are causing diabetes or are a result of diabetes such as nerve problems, damage of the kidney, blindness and loss of limbs. Insulin glargine reduces risk of such diseases as well as diabetes related major problems such as a stroke or heart attack. Asia Pacific region will experience a significant growth in its CAGR for the global insulin glargine market in the future. This is because of the readiness of patients to increase their budget for health care expenses and the steadily developing health and medical centers which has resulted in an increase in the growth of the insulin glargine market. However, the high cost of insulin delivery devices and operations for treating diabetes is stopping people from using insulin glargine and other insulin-related products; hence impeding the growth of this market. Middle East and Africa region will experience noticeable growth in the years to come but slow as compared to other countries as insulin producing products are expensive and are not affordable among local masses. Latin America is projected to exhibit moderate growth for global insulin glargine market during the forecast period.
Some of the key players in this market are Biocon, Sanofi-Aventis, Novo Nordisk, Ganlee and Eli Lilly and others.
This report segments the global Insulin Glargine market as follows:
Global Insulin Glargine Market: By Type
Global Insulin Glargine Market: By Application
Global Insulin Glargine Market: By Distribution Channel
Global Insulin Glargine Market: By Region