Europe Biosimilar Insulin Glargine and Lispro Market to Cross $ 1.9 Billion by 2024

Ageing population and growing healthcare challenges associated with diabetes to propel Europe biosimilar insulin glargine and lispro market through 2024

According to Tech Sci Research report, “Europe Biosimilar Insulin Glargine & Lispro Market By End User, By Country, Competition, Forecast & Opportunities, 2024”, Europe biosimilar insulin glargine and lispro market is anticipated to surpass $ 1.9 billion by 2024 on account of growing expenditure on healthcare and increasing prevalence of obesity and diabetes in the growing countries. Cost-effectiveness and drug efficacy are the major factors for switching to biosimilar insulin due to the high cost of insulin treatment. Thus, patient advocacy groups, healthcare professionals, and policymakers, etc., are focusing on manufacturing of biosimilar insulin which is expected to further drive Europe biosimilar insulin glargine and lispro market during the forecast period. Germany is among the top ten countries with maximum number of new cases of type 1 diabetes in children. However, owing to the high competition among the major companies, the biosimilars will face competition from new insulin products and can act as the major impediment to the growth of Europe biosimilar insulin glargine and lispro market.

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Europe biosimilar insulin glargine and lispro market can be segmented based on end user, and country. On the basis of packaging, the market can be segmented into Vial, Pen and Cartridge. Of all, Vial segment dominated Europe biosimilar insulin glargine and lispro market until 2018 and is expected to maintain its dominance over the forecast period as well on account of growing need for single dose aseptic sterile packaging to prevent the use of preservatives coupled with its increased use in liquid pharmaceutical applications which is  boosting the demand for vials, especially in applications like biosimilar insulin storage.

Sanofi, Eli Lilly-Boehringer Ingelheim, Mylan-Biocon, Geropharm, Novo Nordisk, Sandoz-Gan Lee, etc., are some of the leading players operating in Europe biosimilar insulin glargine and lispro market. The companies operating in the market are using strategies such as product launches, mergers and collaborations to boost their share and expand their presence in the market.

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“Europe biosimilar insulin glargine and lispro market is anticipated to register a significant growth during the next five years owing to the presence of the major players such as Sanofi, Eli-Lilly, among others in the region. Moreover, growing healthcare challenges associated with diabetes is further positively influencing Europe biosimilar insulin glargine and lispro market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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

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