Type 1 Diabetes to Dominate Asia Pacific Biosimilar Insulin Glargine & Lispro Market until 2024

Ageing population and rising prevalence of obesity to drive growth of Asia-Pacific biosimilar insulin glargine & lispro market through 2024

According to TechSci Research report, “Asia Pacific Biosimilar Insulin Glargine and Lispro Market By End User, By Packaging, By Country, Competition, Forecast & Opportunities, 2024”, Asia-Pacific biosimilar insulin glargine & lispro market is expected to grow at a steady pace during the forecast period. Biosimilar insulin glargine & lispro are witnessing adoption on account of increasing number of diabetes patients and growing prevalence of obesity. However, the pharmaceutical industry is a highly regulated one and this can hamper the growth of the market during forecast period. Additionally, high competition from the hybrid polymers and composites is further expected to obstruct the biosimilar insulin glargine & lispro market.

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Asia-Pacific biosimilar insulin glargine & lispro market is segmented based on end user, packaging, country and company. Based on end user, the market can be bifurcated into Type 1 Diabetes and Type 2 Diabetes. The Type 1 diabetes dominates the market since the body is unable to produce insulin in this disease. Therefore, getting oneself injected with insulin is the only way to treat this and get the blood glucose levels regulated. Hence, treatment of Type 1 diabetes generates maximum demand for insulin glargine and lispro across the globe. Type 2 diabetes segment is expected to grow at a fast pace during forecast period owing to the growing sedentary lifestyle due to which people are failing to maintain an active daily life, leading to obesity and occurrence of Type 2 diabetes. Therefore, the utilization of biosimilar insulin glargine and lispro to treat Type 2 diabetes is expected to see some growth during the forecast period. Based on packaging, the vial packaging segment is expected to hold the largest market share owing to its increased use in liquid pharmaceutical applications.

Sanofi S.A., Eli Lilly and Company, Biocon Limited, Novo Nordisk A/S, Wockhardt, Cipla Limited, Merck Limited, and others are some of the leading players operating in Asia-Pacific biosimilar insulin glargine & lispro market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“Asia-Pacific is expected to be the fastest growing market for biosimilar insulin glargine & lispro during the forecast period, owing to the increasing number of diabetes patients in this region. Moreover, India ranked 2nd in the number of diabetic patients across the world, which in turn, is providing new opportunities for the market to grow at a rapid rate in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Asia Pacific Biosimilar Insulin Glargine & Lispro Market By End User, By Packaging, By Country, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Asia-Pacific 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 Asia-Pacific biosimilar insulin glargine & lispro market.

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