Key Trends and Insights into the Insulin biosimilars Market: Growth Rate and Opportunities to 2034
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What fueled the previous growth in the insulin biosimilars market?
In recent years, the insulin biosimilars market has experienced swift expansion. Its value is expected to surge from $3.04 billion in 2024 to $3.53 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 16.2%. Factors such as the surge in diabetes cases, escalating healthcare costs, widening access to diabetes therapies, marketplace competition and pricing dynamics, as well as regulatory assistance and approval processes have been instrumental in driving growth in the historical period.
What will be the insulin biosimilars market size in the future?
The market for insulin biosimilars is predicted to experience a significant growth spurt in the upcoming years, with its estimated value reaching “$6.17 billion by 2029, indicative of a compound annual growth rate (CAGR) of 15.0%. This projected market expansion during the forecast period can be linked to the prevalent diabetes condition globally, the emergence and evolution of markets and broader access, the implementation policies for biosimilar, cost-effectiveness preferred by patients, as well as mutual collaboration and partnership initiatives within the biopharmaceutical sector. The forecast period will also witness several trends like widening of insulin product offerings, global market infiltration, technological amalgamation in insulin administration, regulatory backing for the development of biosimilars, and product development focused on patient needs.
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What main drivers are fueling expansion in the insulin biosimilars market?
The insulin biosimilars market is predicted to expand due to the rising occurrence of diabetes. Diabetes is a long-term metabolic disease defined by elevated blood sugar levels sustained over a long duration. Biosimilars are vital in diabetes care as they present an alternative to insulin treatment, hence, the escalating frequency of diabetes boosts the demand for the insulin biosimilars market. For example, the National Center for Biotechnology Information, a government institution in the US offering access to biomedical and genomic data, revealed in July 2023 that the rate of diabetes is anticipated to grow from 10.5% in 2021 to 11.3% in 2030, and escalate to 12.2% by 2040. Consequently, the growth in the frequency of diabetes propels the insulin biosimilar market.
What key areas define the segmentation of the global insulin biosimilars market?
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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Who are the dominant players expanding their reach 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.
How are evolving market trends shaping insulin biosimilars Strategies?
Companies leading the insulin biosimilars market are progressing with the development of interchangeable insulin in an effort to make it more accessible to patients, decrease healthcare expenses and ensure uniform therapeutic results in managing diabetes. The significance of interchangeable insulin in the insulin biosimilars market cannot be overstated, as it allows more patients to afford treatment and encourages therapeutic adherence. For example, in April 2023, US pharmaceutical company Eli Lilly introduced Rezvoglar, a biosimilar of insulin glargine aimed at boosting glycemic control in both children and adults with type 1 diabetes, as well as adults with type 2 diabetes. Thanks to its interchangeable status, pharmacists can replace it with other insulin glargine prescriptions without requiring a doctor’s consent, thereby increasing patient accessibility. Rezvoglar’s introduction into the market serves as the second interchangeable insulin biosimilar in the U.S., giving the insulin biosimilars market a much-needed boost in competition and affordability.
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Which regions are emerging as leaders 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
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