Insulin Biosimilars Market Growth Will Escalate Rapidly by Global Top Players - Boehringer Ingelheim, Pfizer Inc., Biocon, Merck & Co., Mylan N.V., Eli Lilly & Co., Wockhardt Limited, NOVO Nordisk A/S, Sanofi S.A., Ypsomed AG

Diabetes is a group of metabolic disease characterized by high blood sugar level due to inadequate secretion of insulin. Common symptoms of diabetes include increased hunger, tiredness, weight loss, and excessive thirst and urination. The prevalence of diabetes is increasing, in turn, boosting demand for insulin biosimilar. For instance, according to the World Health Organization (WHO) report in 2014, globally around 422 million adults were living with diabetes and 1.5 million people died due to the disease in 2012. Insulin biosimilar has the ability to increase access to treatment of diabetes mellitus among the patients while reducing treatment costs.

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Insulin Biosimilars Market – Dynamics

Increasing number of manufacturers are developing biosimilar insulin to provide clinical aid that is similar to current insulin analogs at the more affordable price. Moreover, the patents of several insulin manufacturing companies are soon expected to lose patent protection, For instance, LEVEMIR an Insulin detemir by Novo Nordisk is going to lose its patent rights in the year 2019, which is influencing numerous pharmaceutical key manufacturers to develop alternatives to patents, referred as the biosimilar. The low cost of biosimilar insulin for diabetes treatment and effectiveness is helping treat patients suffering from diabetes mellitus. Companies are also focusing on developing medical devices that allow for less painful and safe delivery of the biosimilar insulin treatment, which in turn, is boosting market growth. Government agencies are focusing on the endorsement of insulin biosimilar by funding research and development. Furthermore, rising geriatric population across the globe and increasing demand for rapid-acting insulin analogs are boosting the growth of the insulin biosimilar market. For instance, according to a consensus report published in the 2012 American Diabetes Association, showed over 25% of the U.S. population aged ≥65 years suffered from diabetes.

Insulin Biosimilars Market – Competitive Insights

The key players operating in the global insulin biosimilars market includes Boehringer Ingelheim, Pfizer Inc., Biocon, Merck & Co., Mylan N.V., Eli Lilly & Co., Wockhardt Limited, NOVO Nordisk A/S, Sanofi S.A., Ypsomed AG and others Key players are engaged in developing new technologies and collaborations in order to retain dominant position in the market. For instance, on 2018 Sandoz, a Novartis division and Asia’s premier biopharmaceutical company, Biocon announced exclusive global collaboration for next generation biosimilars.

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Insulin Biosimilars Market - Taxonomy

On The Basis Of Biosimilar Type, The Global Insulin Biosimilars Market Is Segmented Into:

Rapid Acting Biosimilars
Long Acting Biosimilars
Premixed Biosimilars

On The Basis Of Disease Indication Type, The Global Insulin Biosimilars Market Is Segmented Into:

Type 1 Diabetes
Type 2 Diabetes

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