The Global Rapid Acting Insulin Market size is expected to reach $11. 4 billion by 2027, rising at a market growth of 5. 6% CAGR during the forecast period. Rapid-acting insulin is considered as one of the quickest acting insulin that shows the action of working just after the 15 minutes of its application.
New York, May 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Rapid Acting Insulin Market By Product Type, By Indication, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06073607/?utm_source=GNW
Insulin’s activation is expected to last for 5 hours. Humalog, Fiasp, NovoRapid, and Apidra are a few of the rapid-acting insulin present in the market.
A rapid-acting insulin is considered as an insulin analog created to mimic meal-induced insulin secretion. These analogs are generally more preferred as compared to the regular insulin due to their rapid response, enabling diabetes patients to consume it intravenously prior to any meal. Advancement in the rapid-acting insulin market is necessary for diabetes management. Though, clinical security and efficacy require the consideration of researchers and experts.
By performing rapid-acting insulin opportunity analysis assessment, higher availability of constant glucose tracking will assist in complex analysis of clinic rapid insulin action which was not earlier feasible. This will assist in knowing whether the latest rapid-acting insulin opportunity analysis will offer a superior degree of optimal glycemic control above HbA1c levels, which is needed for regulatory and scientific compliance.
Along with diabetes, people who have other heart diseases or other complications could maximize the possibility of getting severely ill from COVID-19 as suffering from any above condition makes it more difficult for patients to fight against the infection. This motivated leading companies to deploy unique strategies in order to get a competitive edge during the outbreak of the COVID-19 pandemic.
Product Type Outlook
Based on Product Type, the market is segmented into Insulin Lispro, Insulin Aspart and Insulin Glulisine. On the basis of product type, the insulin lispro segment would exhibit a promising growth rate and procure the highest revenue share in the global rapid-acting insulin market during the forecast period. This is due to the superior benefits offered by the product such as rapid subcutaneous absorption, earlier & higher insulin peak, and short duration of action.
Based on Indication, the market is segmented into Type 2 Diabetes and Type 1 Diabetes. On the basis of indication, the type-2 diabetes segment garnered the maximum revenue share of the market, due to the surge in urbanization, unhealthy diet, and low level of physical activity which results in the increasing number of people with type-2 diabetes, thereby propelling the growth of the rapid-acting insulin market.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Hospital Pharmacies, Drug Stores & Retail Pharmacies and Online Providers. On the basis of distribution channel, the drug store & retail pharmacies segment procured the biggest revenue share of the market, due to the ubiquitous nature of drug store & retail pharmacy stores. Moreover, these pharmacies offer alternatives for insulin, if there is a non-availability of the prescribed ones.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America appeared as the leading region in terms of revenue generation in the global rapid-acting insulin market in 2020 and would show a similar trend even during the forecast period. There is a growing case of diabetes and an increasing geriatric population, which is boosting the regional rapid-acting insulin market.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Sanofi S.A., Merck & Co., Inc., Novo Nordisk A/S, and Eli Lilly and Company are the forerunners in the Rapid Acting Insulin Market. Companies such as Adocia SA, MannKind Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Merck & Co., Inc., Sanofi S.A., Novo Nordisk A/S, Eli Lilly and Company, Adocia SA, Biocon Limited, Gan & Lee Pharmaceuticals, Geropharm LLC, Wockhardt Ltd., and MannKind Corporation.
Strategies deployed in Rapid Acting Insulin Market
Partnerships, Collaborations, and Agreements:
Oct-2020: Eli Lilly and Company teamed up with DexCom, a company that develops, manufactures, and distributes continuous glucose monitoring systems for diabetes management. Under this collaboration, the companies announced a joint program for U.S. healthcare providers about Lilly’s latest rapid-acting mealtime insulin Lyumjev, accessible in U.S. pharmacies, and Dexcom G6 CGM Systems.
Aug-2019: MannKind Corporation collaborated with One Drop, the world’s leading diabetes management platform. This collaboration aimed to offer an effortless experience for Afrezza patients that also includes automatic monitoring of their insulin doses and also other crucial health information on the One Drop platform.
May-2018: MannKind Corporation signed an exclusive marketing and distribution agreement with Cipla, an Indian multinational pharmaceutical company. In this agreement, Cipla would be responsible for getting regulatory approvals to distribute Afrezza in India that also includes approval from the Drug Controller General of India (DCGI). Cipla would also be responsible for every marketing and sales activity of Afrezza in India.
Acquisition and Mergers:
Feb-2021: Merck signed an agreement to acquire Pandion Therapeutics, a biotechnology company. Through this acquisition, Merck’s strategy to detect and safeguard candidates with differentiated & foundational characteristics will be strengthened.
Dec-2020: MannKind Corporation acquired QrumPharma, a privately held pharmaceutical company. This acquisition aimed to develop a dry powder formulation, which would enable patients having NTM to have a better treatment experience.
Product Launches and Product Expansions:
Sep-2020: Novo Nordisk introduced the world’s fastest-acting insulin in the Bangladesh market. It is fast-acting insulin, which works four times faster than short-acting human insulin and two times faster than the conventional rapid-acting insulin.
Apr-2018: Sanofi released its short-acting follow-on insulin lispro product, Admelog. This rapid-acting human insulin analog is indicated to enhance glycemic control in adults and children having diabetes and is accessible in both vials and in a pen presentation.
Approvals and Trials:
Mar-2021: Adocia announced the beginning of a Phase 2 study in type 1 diabetes (T1D). This study’s aim is to confirm and maximize the security and efficacy of M1Pram as compared to insulin lispro regarding glycemic control and body weight loss.
Jan-2021: Adocia announced positive results from a clinical pharmacology study comparing BioChaperone (BC) Lispro formulations. It employs insulin lispro from two different sources, the brand, Humalog, from Eli Lilly and a biosimilar from Tonghua Dongbao (THDB).
Dec-2020: Biocon and Mylan got a positive opinion from the European Medicines Agency’s committee for medicinal products for human use (CHMP) recommending approval of the market authorization of their product ’Kixelle’. This product is used for the treatment of type 1 and 2 diabetes.
Jun-2020: Eli Lilly and Company received approval for Lyumjev from the U.S. Food and Drug Administration (FDA). Lyumjev is the latest rapid-acting insulin indicated to enhance glycemic control in adults, who have type 1 and type 2 diabetes.
Mar-2020: Novo Nordisk got the approval from the Ministry of Food and Drug Safety for an additional indication for Fiasp. It is an ultrafast-acting insulin aspart injection, which is used to cure children and adolescents. This additional indication from the local drug agency has arisen after the same kind of updated indication in the EU and U.S., based on the ONSET 7 study, in which 777 patients participated including children and adolescents with type-1 diabetes.
Jan-2020: Eli Lilly and Company received a positive opinion for Lilly’s new mealtime insulin from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP). This latest mealtime insulin can be used to treat adults having diabetes as part of a numerous daily injection regimen or provided by an insulin pump. It is a novel, fast-acting formulation of insulin lispro, which is analyzed for its usage by adults having type 1 and type 2 diabetes to decrease blood glucose.
Jun-2019: Adocia initiated a Phase 1b study of ADO09. It is a ready-to-use, certain ratio co-formulation of pramlintide, the only FDA-approved analog of amylin, and A21G human insulin analog, rapid-acting insulin, which is known to be the core circulating metabolite of insulin glargine.
Scope of the Study
Market Segments covered in the Report:
By Product Type
• Insulin Lispro
• Insulin Aspart
• Insulin Glulisine
• Type 2 Diabetes
• Type 1 Diabetes
By Distribution Channel
• Hospital Pharmacies
• Drug Stores & Retail Pharmacies
• Online Providers
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Merck & Co., Inc.
• Sanofi S.A.
• Novo Nordisk A/S
• Eli Lilly and Company
• Adocia SA
• Biocon Limited
• Gan & Lee Pharmaceuticals
• Geropharm LLC
• Wockhardt Ltd.
• MannKind Corporation
• Exhaustive coverage
• Highest number of market tables and figures
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• Assured post sales research support with 10% customization free
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