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Global Insulin Glargine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

·3-min read
ReportLinker
ReportLinker

The Global insulin glargine market is projected to grow with a CAGR of 0. 41% during the forecast period, (2022 - 2027). The COVID-19 pandemic has resulted in a surge in diabetic complexities, which is driving the insulin demand in the market.

New York, June 02, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Insulin Glargine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06283223/?utm_source=GNW
Type 1 diabetes can be characterized as insulin-requiring, while Type 2 diabetes can be characterized as insulin-dependent diabetes. People with diabetes have a 300% increased risk of being hospitalized compared to those without diabetes, and, thus, they incur more healthcare expenses than non-diabetic people. Patients with Type 2 diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates. Achieving nominal results can be very difficult without multiple daily injections of insulin or insulin pump therapy. This is driving the demand for insulin on a global scale, which is expected to drive the market studied during the forecast period.

Key Market Trends

Insulin Glargine Market Access has Widened

In 2015, Sanofi released its Toujeo in European region as the basal insulin for the treatment of type 1 and type 2 diabetes mellitus in adults. According to Sanofi data, in 2020, Toujeo posted net sales of EUR 933 million worldwide, driven by strong performances in European countries. In January 2020, Sanofi announced that the European Commission (EC) has expanded the current indication for Toujeo (insulin glargine 300 units/mL) to include children and adolescents with diabetes. Toujeo is now indicated for the treatment of diabetes mellitus in adults, adolescents and children from the age of 6 years. This is driving the market in forecast period whereas Basaglar was the first biosimilar to Lantus to be launched in some countries of Europe Region. It offers the core protein sequence of Lantus to patients and is expected to observe an exponential increase in sales volumes during the forecast period, primarily due to its growing adoption and its lesser cost than its competitive products in the Europe Region.

North-America to Grow with the Highest CAGR During the Forecast Period

Despite advancements in the medical technology and health systems, patients in this region are not coping with the challenges of chronic diseases. Incidence of these disease increased significantly over the past few years. In North America, the market share of traditional human insulin is higher due to its affordability. Novolin holds the highest market share of more than 80%, followed by Humulin and Insuman. However, these traditional brands are facing fierce competition from the local drug market. Among the drugs in the long-acting insulin segment, Lantus holds the highest market share of more than 39.6%, followed by Levemir. New generation insulin glargine, like Toujeo, Tresiba, and Basaglar, are available in only a few countries. These drugs witnessed good market penetration in countries they were launched.

Competitive Landscape

The global insulin glargine market is consolidated, with three major manufacturers (Sanofi, Novo Nordisk, and Eli Lilly) holding a global market presence. The remaining manufacturers are confined to the other local or region-specific manufacturers. Mergers and acquisitions that happened between the players in the recent past helped the companies strengthen their market presence. Eli Lilly and Boehringer Ingelheim together have an alliance in developing and commercializing Basaglar (insulin glargine) whereas Biocon collaborated with Mylan to develop Semglee (insulin glargine biosimilar). Prominent players, such as Sanofi, Novo Nordisk, and Lilly, have created a monopoly in the market through their established supply chains and branding, which has resulted in substantial market penetration. These companies work in tandem with several administrative and health agencies to deploy competitive strategies and restrict or eliminate the competition from the emerging market players.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06283223/?utm_source=GNW

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