Press Release

Europe Biosimilar Insulin Glargine & Lispro Market to Grow with a CAGR of 4.36% through 2028

Rising number of diabetes patients and growing demand for affordable & readily accessible insulin treatments is expected to drive the Europe Biosimilar Insulin Glargine & Lispro Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Europe Biosimilar Insulin Glargine & Lispro Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Europe Biosimilar Insulin Glargine & Lispro Market stood at USD 1838.98 million in 2022 and is anticipated to grow with a CAGR of 4.36% in the forecast period, 2024-2028. A significant factor is the growing prevalence of diabetes in the region, which continues to increase the demand for effective and affordable treatment options.

Additionally, the patent expiry of original insulin brands has opened the door for biosimilars, offering a cheaper alternative for diabetes patients. Moreover, the push from European health authorities for the adoption of biosimilars to reduce healthcare costs also contributes to the market growth. Advancements in biotechnology and pharmaceutical sectors have enabled the development of biosimilars with comparable efficacy and safety to original insulin brands.

                                                                                             

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The Europe Biosimilar Insulin Glargine and Lispro Market has witnessed robust growth in recent years, primarily driven by the increasing prevalence of diabetes and other metabolic disorders in the region. With the rising number of individuals affected by these conditions, there has been a growing need for effective and affordable treatment options. Biosimilar insulin products, such as Glargine and Lispro, have emerged as critical solutions due to their therapeutic efficacy and cost-effectiveness.

In countries like Germany, the United Kingdom, and France, the demand for biosimilar insulins has experienced a significant surge, largely attributed to their affordability compared to branded counterparts. This affordability factor has made these biosimilar insulins highly accessible to a broader population, contributing to their widespread adoption. Moreover, the growing awareness about the effectiveness and safety of biosimilars among healthcare professionals and patients has played a pivotal role in driving market growth.

Notably, the United Kingdom ranks among the top 5 countries with the highest rate of Type 1 diabetes in children. As the number of diabetes patients and insulin users continues to rise, there is a pressing need to address this healthcare challenge. Consequently, an increasing number of manufacturers are focusing on marketing biosimilar insulin products, which is expected to drive the growth of the biosimilar insulin glargine and lispro market in the forthcoming years.

One of the key advantages of biosimilar insulin analogues is their ability to retain glucose-lowering properties for 24 hours with just one injection. This makes them highly suitable for maintaining the basal insulin level throughout the day, providing convenience and improved glycemic control for patients. Given these benefits, the market for biosimilar insulin glargine and lispro is anticipated to witness significant growth.

The growing concern regarding the cost of insulin treatment has further fueled the demand for biosimilar insulin glargine and lispro, as these products have the potential to reduce diabetes treatment costs. This cost-saving aspect is projected to boost the growth of the market in the next 5 years. Additionally, factors such as the aging population and changing eating habits have also contributed to the healthy push in the European Biosimilar Insulin Glargine and Lispro Market. The market landscape is characterized by key players such as Biocon, Sanofi, and Eli Lilly, who have established themselves with their extensive product portfolios and strategic partnerships. These companies have demonstrated their commitment to innovation through relentless research and development efforts, leading to the introduction of innovative biosimilar insulins that have been well-received by end users.

However, the market is not without its challenges. Regulatory hurdles, patent litigations, and the complexity of producing biosimilars are potential obstacles that could hinder growth. Nonetheless, the relationship between price, quality, and accessibility in the biosimilar insulin market in Europe is expected to remain favorable.

The Europe Biosimilar Insulin Glargine and Lispro Market is projected to maintain a steady trajectory of growth. This optimistic outlook is underpinned by various factors, including an aging population, increasing incidences of lifestyle-related diseases, and the continued need for effective and affordable insulin treatments. Additionally, the support of government bodies in promoting biosimilar use, coupled with the commitment of market players to enhance their product offerings, provides a promising foundation for continued market expansion.

 

The Europe Biosimilar Insulin Glargine & Lispro Market is segmented end user, country distribution, and company.

Based on end user, The market for biosimilar insulin glargine and lispro is divided into two segments: Type 1 Diabetes and Type 2 Diabetes. Type 1 Diabetes has been the dominant market player, holding the largest market share until 2018, and is projected to maintain its position throughout the forecast period. This is primarily due to the fact that Type 1 diabetes is classified as an autoimmune disease, resulting in the body's inability to produce insulin. As a result, the only treatment option for this condition is insulin injection to regulate blood glucose levels. Consequently, the demand for insulin glargine and lispro is highest for the treatment of Type 1 diabetes in the region.

On the other hand, with the increasing prevalence of sedentary lifestyles, particularly in emerging economies, individuals are encountering challenges in managing Type 2 diabetes. Consequently, it is anticipated that the utilization of biosimilar insulin glargine and lispro for treating Type 2 diabetes will witness some growth during the forecast period. This growth can be attributed to the need for effective management of Type 2 diabetes in populations that are experiencing difficulties in controlling their blood glucose levels. Overall, the biosimilar insulin glargine and lispro market is driven by the demand for insulin-based treatments in both Type 1 and Type 2 diabetes. The forecasted growth in this market underscores the importance of these medications in addressing the needs of individuals with diabetes, offering them improved control over their condition and enhancing their quality of life.

 

Based on country, Germany is projected to demonstrate a robust growth rate in the Europe Biosimilar Insulin Glargine & Lispro Market. It is anticipated that Germany will achieve a compound annual growth rate (CAGR) of over 2% during the forecast period. Diabetes poses a significant health challenge and remains a pressing issue for healthcare systems throughout Germany. The prevalence of both known type-1 and type-2 diabetes among the German adult population is alarmingly high, with a substantial number of undiagnosed patients. The prevalence of type-2 diabetes is expected to steadily rise due to factors such as an aging population and unhealthy lifestyles. To prevent complications in German patients with type-2 diabetes, comprehensive care that encompasses proper monitoring, risk factor control, and active self-management is crucial.

The increasing incidence, prevalence, and progressive nature of diabetes have stimulated the development of new drugs, providing additional treatment options for diabetic patients. The German Diabetes Center (DDZ) reports that at least 7.2% of the German population currently lives with diabetes, a figure that is projected to significantly rise in the next two decades. Germany boasts highly developed healthcare facilities and strictly regulated reimbursement and pricing policies, which drive the market. Noteworthy market opportunities for players in the German insulin drug market include the introduction of new products, growing international research collaborations in technological advancements, and increased public awareness about diabetes. 

 

Major companies operating in Europe Biosimilar Insulin Glargine & Lispro Market are:

  • Sanofi S.A.
  • Biocon Ltd
  • Eli Lilly-Boehringer Ingelheim
  • Wockhardt Ltd
  • Geropharm LLC
  • Novo Nordisk A/S
  • Merck & Co.
  • Sandoz-Gan Lee

 

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“The future outlook for biosimilar Insulin Glargine & Lispro in Europe is highly promising, with substantial growth expected in the upcoming years. This positive projection can be attributed to various key factors, including an aging population, the increasing prevalence of diabetes, and the demand for cost-effective treatment options. Furthermore, the expiration of patents on numerous biologic medicines is anticipated to result in a surge of biosimilars entering the market, providing comparable efficacy at a more affordable price point.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Europe Biosimilar Insulin Glargine & Lispro Market By End User (Type 1 Diabetes and Type 2 Diabetes), By Country, Competition, Forecast & Opportunities, 2018-2018F”, has evaluated the future growth potential of Europe Biosimilar Insulin Glargine & Lispro Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Europe Biosimilar Insulin Glargine & Lispro Market.


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