Global insulin glargine market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account for USD 7,164.68 million by 2028 growing at a CAGR of 10.89% in the above-mentioned forecast period. The growing awareness amongst physicians and patients regarding the benefits associated with the usage of insulin glargine has been directly impacting the growth of the insulin glargine market.
Insulin glargine is long-acting basal insulin that is mainly given to diabetes patients daily to control blood sugar levels. Insulin glargine consists of microcrystals which slowly releases insulin and provides a long duration of action. It is man-made insulin which is normally produced by the body and helps in case of diabetes to remove sugar from the blood. It is also used to reduce the sugar-producing ability of the liver.
Growth in the diagnosis of diabetes and an increase in demand for insulin for diabetes patients is the main driving factor for the insulin glargine market. Increasing remunerative policies, awareness of health, and advancement in technology of insulin delivery devices is an opportunity for the insulin glargine market.
Higher cost of the products is the main challenge for the insulin glargine market. However, strict policies and regulations for the product approval and availability of substitutes is the main restraint in the growth of insulin glargine market during the forecast period of 2021-2028.
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Healthcare Infrastructure Growth Installed Base and New Technology Penetration
Insulin glargine market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kinds of products for insulin glargine market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the insulin glargine market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Insulin Glargine Market Share Analysis
Insulin glargine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the insulin glargine market.
The major players covered in the insulin glargine market report are Biocon, Sanofi-Aventis, Novo Nordisk A/S, Gan & Lee Pharmaceuticals, Eli Lilly and Company, LGM Pharma, Trumac Healthcare, ADOCIA, Lupin Ltd, WOCKHARDT, Cipla Inc., Biocon Biologics, Pfizer Inc., Biogenomics Limited., Loka BioSciences, Amigoz Lifesciences, Endocrine Technologies, Inc., Spectrum Chemical Mfg. Corp., Sekisui Diagnostics, LLC, Alfa Chemical Corp., Accurate Chemical & Scientific Corporation among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
In September 2020, Biocon Biologics introduced Semglee (insulin glargine injection) in the U.S. The drug helps control high blood sugar in adults and children with type 1 and type 2 diabetes. Semglee, which received final approval from the U.S. Food and Drug Administration (FDA) in June, has the same amino acid as Sanofi's Lantus. The drug is already in use in 45 countries but entry into the U.S. is significant because the cost of insulin has shot so high that one in four people with diabetes is now skipping or skipping life-saving doses. With this launch, the company has enhanced its offering in the market.
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Insulin Glargine Market Country Level Analysis
Insulin glargine market is analysed and market size insights and trends are provided by country, type and application and distribution channel as referenced above.
The countries covered in the insulin glargine market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the insulin glargine market due to increase in diabetes patients in the region and increasing medical expenditure. Health awareness among the people is another reason for growth of the market, while Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to increase in healthcare expenses and development of health and medical infrastructure.
Insulin Glargine Market Scope and Market Size
Insulin glargine market is segmented on the basis of type, application and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
Based on type, the insulin glargine market is segmented into single dose vial and pre-filled syringe.
Insulin glargine market has also been segmented based on application into treat type 2 diabetes and treat type 1 diabetes.
Based on distribution channel, the insulin glargine market is segmented into hospital pharmacy, online sales, retail pharmacy and other distribution channels.
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