Insulin Glargine Market Size to Greatly exceed 7.3 Billion by 2022-2029 with 10 % CAGR | Industry Global Business Review, Key Findings, Company Profiles, Growth Strategy, Developing Technologies and Latest Trends
Luton, Bedfordshire, United Kingdom, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Insulin Glargine Market.
Insulin Glargine Market exhibiting a CAGR of 10 % and is expected to reach USD 7.3 Billion by 2029
The development of the insulin glargine market has been significantly impacted by the rising knowledge among doctors and patients about the advantages associated with the use of insulin glargine. Long-acting basal insulin called insulin glargine is often daily administered to diabetic patients to manage blood sugar levels. Insulin glargine is made up of tiny crystals that release insulin over a lengthy period of time. It is artificial insulin, which assists in the removal of blood sugar in diabetes cases and is naturally generated by the body. Additionally, it is employed to lessen the liver's capacity to produce sugar.
Rising Interest in Insulin Glargine to Promote Growth
Semglee (insulin glargine injection), which has been approved to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes, will go on sale in the United States in June 2020 in vial and prefilled pen presentations, according to a joint announcement by Bicon and Mylan. For those with Type 2 Diabetes, diabetic ketoacidosis is not advised. The U.S. Food and Drug Administration (FDA) granted final clearance to Semglee, which has the same amino acid sequence as Sanofi's Lantus and the same permitted uses.
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Insulin Glargine Market: Key Development
For the treatment of type 1 and type 2 diabetes mellitus in adults, Sanofi introduced Toujeo in the European region in 2015.
Sanofi records show that Toujeo reported net sales of EUR 933 million globally in 2020, powered by good results in European nations. Children and adolescents with diabetes are now included in the current indication for Toujeo (insulin glargine 300 units/mL), according to Sanofi's announcement in January 2020.
From the age of six, Toujeo is currently recommended for the treatment of diabetes mellitus in adults, adolescents, and children.
Type, Application, Distribution Channel, and Region
North America, Europe, Asia-Pacific, and LAMEA
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, Others.
Insulin Glargine Market Key Players
Insulin Glargine Market Major Key Players include: - 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, Others.
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By Type, it is segmented into
By Application, it is segmented into
By Distribution Channel, it is segmented into
Insulin Glargine Market – Drivers and Restraints
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, who received final approval from the U.S. Food and Drug Administration (FDA) in June, has the same amino acid as Sanofi's Lantus.
The medication is already in use in 45 nations, but its introduction in the United States is noteworthy since the price of insulin has skyrocketed to the point that one in every four diabetics now skips or neglects to take life-saving dosages. The organization has improved its market offering with this launch.
Insulin Glargine Market: Regional Analysis
Due to a rise in diabetes patients and rising medical costs in the area, North America now controls the majority of the global market for insulin glargine. Another factor contributing to market expansion is public health awareness, although in the forecasted period of 2021 to 2028, Asia-Pacific is anticipated to expand at the fastest pace due to rising healthcare costs and the expansion of the nation's health and medical infrastructure.
Insulin Glargine Market: Top Impacting Factors
With a market share of more than 80%, Novolin leads Humulin and Insuman.
The local pharma market, however, is fiercely competing with these established brands. Lantus, a medication in the long-acting insulin market, has a market share of over 39.6%, followed by Levemir.
Only a few nations provide next generation insulin glargines such Toujeo, Tresiba, and Basaglar. In the nations where they were introduced, these medications saw strong market penetration.
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