Insulin biosimilars Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | Eli Lilly and Company, Boehringer Ingelheim GmbH, Merck & Co Inc., Pfizer Inc., Biocon Ltd.,Mylan N.V.

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The Business Research Company offers in-depth market insights through Insulin biosimilars Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The insulin biosimilars market size has grown rapidly in recent years. It will grow from $2.64 billion in 2023 to $3.08 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increased diabetes prevalence, growing healthcare costs, expanding access to diabetes treatment, market competition and price pressures, regulatory support and approval pathways.

The insulin biosimilars market size is expected to see rapid growth in the next few years. It will grow to $5.41 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to global diabetes burden, emerging markets and access expansion, biosimilar adoption policies, patient preference for affordability, collaborations and partnerships in biopharmaceutical industry. Major trends in the forecast period include diversification of insulin product portfolios, global market penetration, technology integration in insulin delivery, regulatory support for biosimilars development, patient-centric approaches in product development.

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Market Segmentation:
The insulin biosimilars market covered in this report is segmented -

1) By Biosimilars Type: Rapid Acting biosimilars, Long Acting biosimilars, Premixed Acting biosimilars
2) By Disease Indication Type: Type I Diabetes, Type II Diabetes
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
4) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users

Major Driver - Surge In Diabetes Drives The Market Growth Of Insulin Biosimilars
The increasing prevalence of diabetes is expected to propel the growth of the insulin biosimilars market going forward. Diabetes refers to a group of chronic metabolic disorders characterized by high blood sugar levels over a prolonged period. Biosimilars play a crucial role in the treatment of diabetes by providing an alternative option for insulin therapy, as a result, the increasing prevalence of diabetes increases the demand for insulin biosimilars market. For instance, in December 2021, according to the International Diabetes Federation (IDFT), a Belgium-based federal agency, the number of people with diabetes would increase to 643 million by 2030 and 783 million by 2045. Additionally, over 1.2 million children and adolescents (aged 0-19 years) are currently living with type 1 diabetes. Therefore, increasing the prevalence of diabetes drives the insulin biosimilar market.

Competitive Landscape:
Major companies operating in the insulin biosimilars market report are Eli Lilly and Company,Boehringer Ingelheim GmbH,Merck & Co Inc.,Pfizer Inc.,Biocon Ltd.,Mylan N.V.,Wockhardt Limited,NOVO Nordisk A/S,Sanofi S.A,Ypsomed AG,Fresenius Kabi AG,Sandoz International GmbH,Novartis International AG,Aurobindo Pharma Ltd.,Intas Pharmaceuticals Ltd.,Dr. Reddy's Laboratories Ltd.,Amgen Inc., Samsungbioepis Co. Ltd.,Coherus BioSciences Inc .,Teva Pharmaceutical Industries Ltd.,Stada Arzneimittel AG,Celltrion Inc.,Biogen Inc., AstraZeneca plc,Fujifilm Kyowa Kirin Biologics Co. Ltd.,Mochida Pharmaceutical Co. Ltd.,Daiichi Sankyo Company Limited,LG Chem Ltd.,JCR Pharmaceuticals Co. Ltd.,Green Cross Corporation,Lupin Limited,Torrent Pharmaceuticals Ltd.,Zydus lifescience Ltd.

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Top Trend - Industry Players Drive Innovation In The Insulin Biosimilar Landscape
Product innovation has emerged as a key trend gaining popularity in the insulin biosimilar market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in July 2021, Biocon Biologics, an India-based company manufacturing insulin biosimilars in collaboration with Viatris Inc., a US-based pharmaceutical company, received approval for the first Interchangeable Biosimilar Semglee (insulin glargine-yfgn injection) for the treatment of diabetes from The U.S. Food and Drug Administration (FDA), a US-based government agency. This product is a significant breakthrough in the treatment of diabetes, as it is indicated for adults and pediatric patients aged 6 years and older with both type 1 and type 2 diabetes and is a crucial milestone that holds the potential for cost savings and improved access to affordable treatment options for individuals suffering from diabetes.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Insulin biosimilars Market Characteristics
3. Insulin biosimilars Market Trends And Strategies
4. Insulin biosimilars Market - Macro Economic Scenario
5. Insulin biosimilars Market Size And Growth
…..
27. Insulin biosimilars Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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