Press Release 24x7

Basal Insulin Market | CAGR 8.2% | 2019-2025

johndsouzaind | October 10, 2019 | 0 | Pharmaceutical and Healthcare

Basal insulin Market Overview:

The global market for basal insulin is anticipated to register a CAGR of 8.2% during the 2019–2025 forecast period, the market is projected to achieve USD 11.4 billion by 2019. Diabetes is usually considered a lifestyle disease. Incidences of the disease have risen over time, with a rise in population around the globe. Approximately 100 million individuals around the globe need insulin, including all individuals living with type 1 diabetes and 10-25% of individuals with type 2 diabetes. Basal insulin is the most widely used insulin in diabetic patients owing to its long-acting effect. Lantus tops the market, and in 2017 the segment had a market share of more than 50%. Since 2015, many countries have come up with insulin biosimilars. Although insulin has been used in the treatment of diabetes for over 90 years, globally, more than half of those who need insulin today are still unable to afford and access it. People with type 1 diabetes need insulin therapy, and to prevent complications, the treatment focuses on managing blood sugar levels with insulin, diet, and lifestyle.

Get a Free Sample Copy of this Report @ https://www.planetmarketreports.com/report-sample/basal-insulin-market

Scope of the Report:

The market is segmented by product Lantus, Levemir, tresiba, toujeo, basaglar, and biosimilar glargine and geography.

Key Market Trends:

Insulin Glargine Market is having large market share

Lantus insulin glargine is Sanofis first long-acting insulin implemented to the market. In 2000, the product was approved for medical use in the United States. Lantus reach was high among patients across different geographical regions, and it is one of the top-selling drugs for Sanofi, which is exported to more than 100 countries. As of 2015, the Lantus market share contributed to around USD 7 billion in most countries, however, patent protection for Lantus expired in 2015. Insulin glargine from competitor Eli Lilly became available in most countries during 2015, under the brand names Basaglar as a follow-up in the United States and Abasaglar as a biosimilar in the European Union. Sanofi introduced the expanded version of Lantus as Toujeo with 300U / mL power in 2015. Several biosimilar insulins already exist at discounted rates in less stringent regulatory settings such as India, China, Mexico, and Peru. In India, Biocon first launched a glargine biosimilar in 2011 at a cost that was 40 % smaller than Lantus. More lately, in partnership with LG Life Sciences, Lupin Ltd introduced its biosimilar Basugine in 2014. Follow-up biologics Basalin Gan and Lee Pharmaceuticals, Beijing ranked second in the Chinese glargine market in China and held a 40% share after Lantus in 2017.

United States is dominating the market growth

In 2017, the United States retained a market share of 65.6% in the global basal insulin market. Lantus is the country’s top-selling drug and has a market share of 49 %, followed by Levemir, Tresiba, Toujeo, and Basaglar. Due to the existence of biosimilars Basaglar and Toujeo which are the expanded versions of Lantus, sales of Lantus are anticipated to decline during the forecast period. The other Lantus biosimilar insulin glargine is Mercks Lusduna, which was tentatively approved by the U.S. FDA. However, despite a favorable response from the FDA, Merck decided to discontinue Lusduna due to “expected pricing and production costs. Tresiba, launched by Novo Nordisk in 2016, got encouraging feedback from patients and is anticipated to demonstrate tremendous growth over the forecast period 2019-2025 owing to its ultra-long-acting impact. The Levemir section is declining as patients move to Tresiba.

Get More Information about this Report and TOC @ https://www.planetmarketreports.com/reports/basal-insulin-market

Competitive Landscape:

The global market for basal insulin is consolidated, with three leading companies keeping a global market presence and the remaining manufacturers confining themselves to other local or region-specific manufacturers. Mergers and acquisitions that have occurred between players in the latest past have helped businesses reinforce their market presence. Together, Eli Lilly and Boehringer Ingelheim have an alliance in the development and marketing of Basaglar insulin glargine. Biocon collaborated with Mylan to develop Semglee insulin glargine biosimilar.

Contact Info:

Name: Jennifer Daniel
Email-Id: sales@planetmarketreports.com
US:  +1-716-2260907
UK: +447441952057
Organization: Planet Market Reports

Web | Facebook | Linkedin | Twitter

Related Posts

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Top Press Release

Blog Stats

  • 13,503 hits
%d bloggers like this: