Global Insulin Glargine Market Size is projected to reach USD 2200 million by 2031, growing at a CAGR of 6.11%: Straits Research

According to Straits Research, “The global insulin glargine market was valued at USD 1290 million in 2022. It is estimated to reach USD 2200 million by 2031, growing at a CAGR of 6.11% during the forecast period (2023–2031).”

New York, United States, March 20, 2024 (GLOBE NEWSWIRE) — Insulin glargine is a modified, long-acting form of medical insulin used to treat diabetes types I and II. It is subcutaneously injected. Typically, effects begin one hour following administration. Low blood sugar, injection site problems, itching, and weight gain are common adverse effects. Insulin NPH is generally preferred to insulin glargine during pregnancy.

Microcrystals deliver insulin gradually for around 24 hours following injection. This insulin causes tissues to absorb glucose from the blood and reduces glucose production by the liver. In 2000, insulin glargine was approved for medical use in the United States. It is on the World Health Organization’s list of fundamental medicines.

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Rapidly Increasing Incidence and Prevalence of Diabetic Patients Drive the Global Market

The prevalence of diabetes is increasing across all age groups, primarily due to obesity, an unhealthy diet, and a lack of physical activity. An increasing incidence of type 1 diabetes is also observed. Although patients with type 2 diabetes are initially treated with oral medications, insulin may be required if their glucose levels are poorly controlled due to an unhealthy lifestyle. Thus, there is a demand for insulin among Type 2 diabetes patients.

The rapidly surging incidence and prevalence of diabetic patients and healthcare expenditures in developed nations indicate a rise in diabetic care product usage. According to Diabetes Research and Clinical Practice, 463 million people worldwide had diabetes in 2019. This number is projected to increase to 578 million by 2030 and 700 million by 2045. Consequently, the prevalence of diabetes is anticipated to rise over time, thereby driving the market.

Rising Product Approval and Launches create Tremendous Opportunities

Frequent approvals and introductions of novel products by market participants are anticipated to drive the expansion of the global market. For example, the FDA approved the interchangeable biosimilar insulin product in July 2021. Semglee (insulin glargine-yfgn) is approved to improve glycemic control in adults, children, and adults with Type 1 and Type 2 diabetes.

In addition, introducing new products by market participants is expected to generate growth opportunities for the global insulin glargine market. For instance, Biocon Biologics India Ltd and Mylan N.V. announced the August 2020 launch of their insulin glargine injection under the brand name Semglee in a vial and pre-filled pen presentations in the United States.

Competitive Players

The key global insulin glargine market players are Novo Nordisk AS, Sanofi Aventis, Biocon, Eli Lilly, Julphar and Others.

Regional Analysis

North America is the most significant global insulin glargine market shareholder and is expected to expand substantially during the forecast period. Despite advances in medical technology and healthcare systems, patients in this region are not coping with the difficulties of chronic diseases. In recent years, the prevalence of these diseases has increased dramatically. The dominance of traditional human insulin in the North American market can be attributed to its comparatively cheaper cost. In addition, North America and the United States monopolize the global market for human insulin because of the high prevalence of diabetes in the region, which is caused by a sedentary lifestyle. As of 2020, the total population with diabetes in the United States has increased to 25,81 million, with Type 2 diabetes increasing at an alarming rate.

The United States dominates the market for diabetes medications in North America. In 2017, the United States diabetes drug market held the biggest market share in North America due to the region’s high-quality healthcare system and rising diabetes prevalence. A rise in the prevalence of diabetes increases the demand for insulin among diabetic patients. In addition, increasing compensation policies, health consciousness, and technological advancements in insulin delivery devices are opportunities for the insulin glargine market. The principal challenge for the insulin glargine market in this region is the higher prices of the products. However, strict policies and regulations for product approval and the availability of substitutes will restrict the market’s growth over the forecast period.

Key Highlights

  • Based on type, the global insulin glargine market is bifurcated into Lantus, Basaglar, Toujeo, Soliqua/Suliqua, and Insulin Glargine Biosimilars. North America is the most significant global insulin glargine market shareholder and is expected to expand substantially during the forecast period.
  • North America is the most significant global insulin glargine market shareholder and is expected to expand substantially during the forecast period.

Market News

  • In November 2022, according to a drug information update from the FDA, Rezvoglar, the second interchangeable insulin glargine biosimilar, was approved to enhance glycemic control in adults and pediatric patients with diabetes.
  • In March 2023, Sanofi (India) announced that the Central Drugs Standard Control Organization had granted marketing approval for its new long-acting insulin drug Soliqua (pre-filled pen).

Global Insulin Glargine Market: Segmentation

By Type

  • Lantus
  • Basaglar
  • Toujeo
  • Soliqua/Suliqua
  • Insulin Glargine Biosimilars

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

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About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

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