The global insulin glargine market was valued at US$ 6,153.5 Mn in 2021 and is forecast to reach a value of US$ 6,257.7 Mn by 2028 at a CAGR of 0.2% between 2022 and 2028. The global insulin glargine market is experiencing strong growth due to the rise in prevalence of diabetes and growing geriatric population across the globe. Furthermore, increase in demand for insulin glargine and increasing awareness among people is expected to boost the growth of the market. However, high cost of insulin glargine and introduction of or availability of insulin biosimilars are major factors expected to hamper growth of the insulin glargine market.
Global Insulin Glargine Market: Regional Insights
Based on geography, the global insulin glargine market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increasing prevalence of diabetes in this region, especially in the United States. Insulin glargine is a long-acting insulin used in the management of type I and type II diabetes. For instance, according to the American Diabetes Association, in 2019, around 37.3 million people in the U.S., or 11.3% of the US population, had diabetes. More than 1.9 million Americans have type 1 diabetes, including about 244,000 children and adolescents.
Asia Pacific is also expected to witness robust growth in the global insulin glargine market due to the rising cases of diabetes in this region. For instance, according to the National Institutes of Health (NIH), in 2019, more than 77 million people in India had diabetes, and this number is expected to reach around 134 million by 2045. Moreover, more than 57% of these individuals remain undiagnosed. This in turn is expected to increase demand for insulin glargine.
Figure 1. Global Insulin Glargine Market Share (%), by Region, 2021
Global Insulin Glargine Market Drivers:
Increasing incidence of diabetes around the world is expected to augment growth of the global insulin glargine market over the forecast period. Like other types of insulin, insulin glargine (a long-acting medical insulin) is used to keep the blood sugar level close to normal. According to the International Diabetes Federation (IDF), 2021 report, around 537 million adults (20-79 years) are living with diabetes, and the total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045.
Increasing use of insulin glargine across the globe is expected to boost the growth of the global insulin glargine market during the forecast period. Insulin glargine is a self-injectable solution used to control high blood sugar (hyperglycemia) in individuals with type 1 and 2 diabetes, and therefore, the use of insulin glargine has increased worldwide. In November 2021, Viatris Inc. and Biocon Biologics Ltd. announced the U.S. launch of SEMGLEE (insulin glargine-yfgn) injection, and Insulin Glargine (insulin glargine-yfgn) injection to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.
Global Insulin Glargine Market Opportunities:
Increase in awareness among people about diabetes management is expected to offer lucrative growth opportunities for players in the global insulin glargine market. For instance, November is National Diabetes Month, a time when communities across the country (US) team up to bring attention to diabetes. The focus is on prediabetes and preventing diabetes. Diabetes Month is created by National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) to raise awareness among people about diabetes.
Increase in research and development or increase in focus on the development of safe/effective insulin is expected to provide significant growth opportunities for players in the insulin glargine market. For instance, in February 2019, an MIT-led research team developed a drug capsule about the size of a blueberry, which can be used to administer oral doses of insulin, potentially replacing insulin injections as a delivery mechanism.
| Report Coverage | Details | ||
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| Base Year: | 2021 | Market Size in 2021: | US$ 6,153.5 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 0.2% | 2028 Value Projection: | US$ 6,257.7 Mn |
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| Companies covered: |
Julphar, Biocon, Eli Lilly, Sanofi Aventis, and Novo Nordisk AS, among others. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Global Insulin Glargine Market Trends:
Frequent approvals and launches of novel products by market players is expected to propel the growth of the global insulin glargine market. For instance, in July 2021, the Food and Drug Administration (FDA) approved the first interchangeable biosimilar insulin product, Semglee (insulin glargine-yfgn), indicated to improve glycemic control in adults and pediatric patients with Type 1 diabetes mellitus and in adults with Type 2 diabetes mellitus.
Introduction of novel products by market players is expected to aid in the growth of the global insulin glargine market. For instance, in August 2020, Biocon Biologics India Ltd and Mylan N.V. announced the launch of their insulin glargine injection under the brand Semglee in the United States in vial and pre-filled pen presentations.
Global Insulin Glargine Market Restraints:
High cost of insulin glargine is expected to hamper the growth of the global insulin glargine market. For instance, Lantus (insulin glargine injection) is the prime example of an expensive insulin, averaging around US$ 274 per month. The cost for Lantus subcutaneous solution (100 units/mL) is around US$ 308 for a supply of 10 milliliters. However, the monthly cost of the insulin depends on the dosage prescribed.
Introduction of or availability of insulin biosimilars is expected to hinder growth of the insulin glargine market. For instance, biosimilar insulin is a biological copy of an original insulin and there is increasing interest in developing and using them. Furthermore, biosimilar insulins are cheaper as compared to original products.
Figure 2. Global Insulin Glargine Market Share (%), by Type, 2021
Global Insulin Glargine Market Segmentation:
The global insulin glargine market report is segmented into Type and Geography.
Based on Type, the market is segmented into Insulin Glargine. Out of which, Insulin Glargine Segment is expected to dominate the global insulin glargine market during the forecast period and this is attributed to the rise in prevalence of diabetes around the world. With the increase in prevalence of diabetes, the use of insulin glargine is also increasing.
Global Insulin Glargine Market: Key Developments
In February 2021, Novo Nordisk and the University of Toronto announced a joint 200 DKK million investment to address diabetes and chronic disease prevention.
In September 2020, Health2Sync and Sanofi teamed up to apply the digital solution provided by Health2Sync in 300 clinics and hospitals nationwide certified by Taiwan Diabetes Shared Care Network over the next three years.
In April 2020, Novo Nordisk announced that the European Commission has granted marketing authorisation for Rybelsus (oral semaglutide), to treat adults with insufficiently controlled type 2 diabetes to improve glycaemic control as an adjunct to diet and exercise.
Global Insulin Glargine Market: Key Companies Insights
The global insulin glargine market is highly competitive. This is attributed to the rise incidence of diabetes and growing geriatric population, as a result, players in the market are focusing on launching novel products in the market.
Some of the key players in the global insulin glargine market are Julphar, Biocon, Eli Lilly, Sanofi Aventis, and Novo Nordisk AS, among others.
*Definition: Insulin glargine belongs to a drug class called long-acting insulins. It is a long-acting modified form of medical insulin used in the management of type I and type II diabetes. It works like the body's natural insulin, and like other types of insulin, insulin glargine is used to keep blood sugar level close to normal.
Insulin glargine is a long-acting, synthetic version of human insulin. It belongs to a drug class called long-acting insulins. It is a form of medical insulin used to manage type I and type II diabetes. Like other types of insulin, insulin glargine is used to keep blood sugar level close to normal. It works by replacing the insulin that is produced by the body and by helping move sugar from the blood into other body tissues where it is used for the energy. Insulin glargine is FDA approved to treat adults and children with type 1 diabetes and adults with type 2 diabetes. Thus, there is an increase in demand for insulin glargine worldwide.
Market Dynamics:
Increase in prevalence of diabetes, growing geriatric population, increase in number of clinical trials, increase in research and development, and increase in awareness among people are some major factors expected to aid in the growth of the global insulin glargine market.
In January 2022, FDA announced its approval of Rezvoglar (insulin glargine-aglr), a new long-acting basal insulin, for adults and children with type 1 diabetes and adults with type 2 diabetes. Rezvoglar was approved as a biosimilar to Sanofi’s Lantus (insulin glargine).
In December 2021, FDA approved a second insulin glargine biosimilar, an Eli Lilly product called Rezvoglar, which references Lantus.
In June 2020, Biocon and Mylan got the U.S. food and drug administration nod to launch for its insulin glargine injection in vial and pre-filled pen presentations, to control high blood sugar in adults with type 2 diabetes and adult and pediatric patients with type 1 diabetes.
Key features of the study:
Detailed Segmentation:
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