Global Biosimilars Insulin Market Growth 2023-2029

Global Biosimilars Insulin Market Growth 2023-2029

Biosimilars is a biological product designed to have similar active properties to the one that has been previously licensed and has no clinically significant differences in terms of safety and effectiveness. Biosimilars insulin is a type of biosimilars where it is indistinguishable to the reference insulin product and is already been approved by FDA or licensed. The producers of biosimilars use the similar manufacturing techniques as of the patented product but not likely identical to that used by the patent holder. Due to increasing insulin manufacturers from the developed and developing countries, the patents for insulin formulations had neared expiry or were ended. This created a necessity to seek approvals on biosimilar insulin for the not yet established companies in the highly regulated markets such as Europe and United States. In 2014, The European Commission (EC) first granted insulin treatment through the biosimilars pathway to Eli Lilly and Company and Boehringer Ingelheim GmbH. Lilly/Boehringer Ingelheim developed a biosimilar insulin called “Insulin glargine” and was the fourth diabetes product which was approved from Lilly-Boehringer Ingelheim Alliance in Europe. Basaglar is the first “biosimilar” insulin product to be approved and launched in U.S. which was developed by the alliance of Lilly/Boehringer Ingelheim.

LPI (LP Information)' newest research report, the “Biosimilars Insulin Industry Forecast” looks at past sales and reviews total world Biosimilars Insulin sales in 2022, providing a comprehensive analysis by region and market sector of projected Biosimilars Insulin sales for 2023 through 2029. With Biosimilars Insulin sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Biosimilars Insulin industry.

This Insight Report provides a comprehensive analysis of the global Biosimilars Insulin landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Biosimilars Insulin portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Biosimilars Insulin market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Biosimilars Insulin and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Biosimilars Insulin.

The global Biosimilars Insulin market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

Increasing prevalence of Type I diabetes, higher cost of existing insulin drugs are expected to drive growth of insulin biosimilars market. Government authorities are also focusing on the approval of insulin biosimilars owing to substantial financial burden in terms of reimbursements. Recently, the U.S. FDA has approved new insulin glargine Basaglar, for type 1 and type 2 diabetes which is Biosimilar version of Sanofi’s basal insulin Lantus (insulin glargine). Additionally, Lilly and Boehringer Ingelheim's biosimilar insulin glargine has got approval through European Medicines Agency's (EMA's) Biosimilar pathway. Such ongoing approvals by the respective authorities are expected to drive the growth of insulin Biosimilar market. However, Insulin patent protection rights and strong retaliation from the branded manufactures has restricted the growth of insulin biosimilar development.

This report presents a comprehensive overview, market shares, and growth opportunities of Biosimilars Insulin market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Insulin Glargine
Insulin Aspart
Insulin Lispro
Other

Segmentation by application
Type I Diabetes
Type II Diabetes

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Eli Lilly
Boehringer Ingelheim
Biocon/Mylan
Gan & Lee Pharmaceuticals
Tonghua Dongbao
United Laboratories
Sanofi

Key Questions Addressed in this Report

What is the 10-year outlook for the global Biosimilars Insulin market?

What factors are driving Biosimilars Insulin market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Biosimilars Insulin market opportunities vary by end market size?

How does Biosimilars Insulin break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.