What Fueled The Previous Growth In The Insulin biosimilars Market?
The insulin biosimilars market has seen considerable growth due to a variety of factors.
•The market size for insulin biosimilars has expanded quickly in the past years, with an expected advancement from $3.04 billion in 2024 to$3.53 billion in 2025. This represents a compound annual growth rate (CAGR) of 16.2%.
This notable growth in the historic period is linked to factors such as the surge in diabetes cases, ascending healthcare expenses, the enlarged approach to diabetes therapeutics, competitive market dynamics and cost pressures, and regulatory backing and authorization routes.
What Is The Expected Growth In The Insulin biosimilars Market Size?
The insulin biosimilars market is expected to maintain its strong growth trajectory in upcoming years.
• We can anticipate significant expansion in the insulin biosimilars market in the upcoming years. The expected increase is to reach "$6.17 billion by 2029 at an annual compound growth rate (CAGR) of 15.0%.
The surge for the projected timeframe is linked to the worldwide diabetes epidemic, emerging markets with expanded access, policies encouraging biosimilar adoption, affordable patient preferences, as well as collaborations and partnerships within the biopharmaceutical sector. Key trends to look out for during the projection period comprise the diversification of insulin product offerings, penetration into the international market, the incorporation of technology into insulin delivery, regulatory backing for biosimilar advancements, and the adoption of patient-oriented strategies in product creation.
What Are the Critical Driver Fuelling the Insulin biosimilars Market's Growth?
The growth of the insulin biosimilars market is anticipated to be driven by the escalating frequency of diabetes. Diabetes is a collection of long-term metabolic conditions distinguished by extended periods of high blood sugar. Biosimilars are vital for diabetes treatment as they offer a substitute to insulin therapy, hence, an upsurge in diabetes cases intensifies the demand for the insulin biosimilars market. For example, the National Center for Biotechnology Information, a US government organization that disseminates biomedical and genomic information, projected in July 2023 that the incidence of diabetes, earlier recorded at 10.5% in 2021, is likely to expand to 11.3% by 2030, and further escalate to 12.2% by 2040. Consequently, the surge in diabetes prevalence propels the insulin biosimilar market's expansion.
How Is the Insulin biosimilars Market segmented?
The insulin biosimilars market covered in this report is segmented –
1) By Biosimilars Type: Rapid Acting biosimilars, Long Acting biosimilars, Premixed Acting biosimilars
2) By Disease Indication Type: Type I Diabetes, Type II Diabetes
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
4) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Rapid Acting Biosimilars: Insulin Aspart Biosimilars, Insulin Lispro Biosimilars, Insulin Glulisine Biosimilars
2) By Long Acting Biosimilars: Insulin Glargine Biosimilars, Insulin Detemir Biosimilars, Insulin Degludec Biosimilars
3) By Premixed Acting Biosimilars: Insulin Aspart Protamine Biosimilars, Insulin Lispro Protamine Biosimilars, Biphasic Insulin Biosimilars
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What New Trends Are Influencing the Insulin biosimilars Market?
Key players in the insulin biosimilars market are focusing on the creation of interchangeable insulin as a way to boost patient reach, minimize healthcare expenses, and secure reliable therapy outcomes for diabetes management. The insulin biosimilars market sees significant benefits from interchangeable insulin, as it widens patient access to cost-effective treatments and encourages therapy adherence. For example, in April 2023, Eli Lilly, a leading pharmaceutical firm from the US, introduced Rezvoglar (insulin glargine-aglr), a type of insulin glargine biosimilar aiming to optimize glycemic control for pediatric and adult type 1 diabetes patients and adult type 2 diabetes patients. Due to its interchangeable tag, pharmacists can replace it for other insulin glargine prescriptions sans physician's consent, thus increasing patient access. The introduction of Rezvoglar makes it the U.S.'s second interchangeable insulin biosimilar, escalating competition and price accessibility in the insulin biosimilars market.
Who Are the Key Players in the Insulin biosimilars Market?
Major companies operating in the insulin biosimilars market include:
• Eli Lilly and Company
• Boehringer Ingelheim GmbH
• Merck & Co Inc.
• Pfizer Inc.
• Biocon Ltd.
• Mylan N.V.
• Wockhardt Limited
• NOVO Nordisk A/S
• Sanofi S.A
• Fresenius Kabi AG
• Sandoz International GmbH
• Novartis International AG
• Aurobindo Pharma Ltd.
• Intas Pharmaceuticals Ltd.
• Dr. Reddy's Laboratories Ltd.
• Samsungbioepis Co. Ltd.
• Teva Pharmaceutical Industries Ltd.
• Stada Arzneimittel AG
• Celltrion Inc.
• Fujifilm Kyowa Kirin Biologics Co. Ltd.
• Green Cross Corporation
• Lupin Limited
• Torrent Pharmaceuticals Ltd.
• Zydus Lifescience Ltd.
What Is The Most Dominant Region In The Insulin biosimilars Market?
North America was the largest region in the insulin biosimilars market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global insulin biosimilars market report during the forecast period. The regions covered in the insulin biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
