Exponential growth at a CAGR of 8.0% in the Insulin Therapeutics Market during the forecast period, 2018 to 2023| Dominant Players - ASTRAZENECA, BIOCON, BIOTON S.A., JULPHAR, MERCK & CO. INC., SANOFI-AVENTIS, amongst others

Market Analysis:

North America to Dominate the Market
North America dominates the market, owing to high prevalence of diabetes in the region because of sedentary lifestyle, and launch of new drugs in the region. Asia-Pacific is expected to grow tremendously during the forecast period, owing to factors, such as high prevalence of obesity, and growing awareness regarding diabetes care in the region.

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Diabetes ranks among the fast-growing chronic diseases in the United States; currently, diabetes affects more than 29 million people in the country. India is among the top three countries with high incidence of diabetes. The genetic factor is one of the major reasons for the rapid spread of the disease. Indians are four times more likely to develop the disease in comparison to other regions, such as Europe. The sedentary lifestyles and obesity are the other factors responsible for high prevalence of the disease. India is among the top five countries with people suffering from obesity. Thus, increasing prevalence of obesity and diabetes across the globe will surge a huge demand for insulin, which will drive the global market of insulin therapeutics. Although insulin has been used in the treatment of diabetes for over 90 years, globally, more than half the people who need insulin today still cannot afford and/or access it.

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Market Segments:
Insulin Therapeutics Market is segmented by:
1. Product Type: Short-acting Insulin, Intermediate-acting Insulin, Long-acting Insulin, Premixed Insulin
2. Drug Type: Generic Drugs, Branded Drugs
3. Disease Type: Type 1 Diabetes, Type 2 Diabetes
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• May 2017: Novo Nordisk A/S launched Xultophy 100/3.6 (insulin degludec and liraglutide injection) in the United States.
• December 2017: Merck Co.7 Inc. and Pfizer Inc. received US Food and Drug Administration (FDA) approval for STEGLATROTM (ertugliflozin) tablets, an oral sodium-glucose cotransporter 2 (SGLT2) inhibitor, and the fixed-dose combination STEGLUJAN (ertugliflozin and sitagliptin) tablets.

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