The Insulin Glargine Market is estimated to be valued at US$ 6178.14 Mn in 2023 and is expected to exhibit a CAGR of 0.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Insulin glargine is a long-acting insulin drug used to treat diabetes. It helps in controlling blood sugar levels in patients suffering from type 1 and type 2 diabetes. Insulin glargine comes as a clear solution in a prefilled glass syringe or vial that is injected subcutaneously using an insulin pen or syringe. It provides smoother blood glucose control over 24 hours as compared to other insulin drugs.

Market key trends:
One of the major trends in the insulin glargine market is the increasing number of diabetic patients globally. According to the International Diabetes Federation, around 537 million adults were living with diabetes in 2021 worldwide and the number is expected to rise to 643 million by 2030 and 783 million by 2045. This steady rise in diabetes prevalence is expected to drive the demand for long-acting insulin drugs like insulin glargine over the forecast period.

Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as the biopharmaceutical industry requires substantial R&D investment.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many vendors offering substitutes.

Bargaining power of suppliers: The bargaining power of suppliers is low, as raw material suppliers have no control over pricing.

Threat of new substitutes: The threat of new substitutes is moderate as technological advances help launch newer substitutes.

Competitive rivalry: is high due to the presence of many pharmaceutical companies offering insulin analogs.


SWOT Analysis
Strength: Insulin Glargine is the leading long-acting biosimilar insulin with proven efficacy and safety. It has strong brand recognition worldwide.

Weakness: High pricing of branded products limits their access in developing regions. Supply chain disruptions can impact availability.

Opportunity: Rising global diabetes prevalence increases the demand. Market entry of biosimilars lowers prices, improving access in lower income countries.

Threats: Stringent regulations delay product approvals. Patent expiries of originator products enable launch of competing biosimilars.

Key Takeaways:
The Global Insulin Glargine Market Size is expected to witness high growth, exhibiting CAGR of 0.2% over the forecast period, due to increasing prevalence of diabetes worldwide. According to International Diabetes Federation, the number of diabetes patients is projected to rise from 537 million in 2021 to 783 million by 2045.

Regional analysis: North America currently dominates the insulin glargine market and is expected to continue its dominance over the forecast period. This is attributed to high diabetes incidence, developed healthcare infrastructure, and favorable reimbursement policies in the region. Europe is anticipated to be the second largest market aided by rising geriatric population and growing research into better diabetes treatment modalities.

Key players operating in the insulin glargine market are Julphar, Biocon, Eli Lilly, Sanofi Aventis, and Novo Nordisk AS, among others. Leading companies are focused on expanding their product portfolios through strategic collaborations and mergers. For instance, in 2019, Biocon and Mylan received approval to launch Semglee, the first interchangeable biosimilar insulin glargine in the United States.

Read more: https://www.zupyak.com/p/3932935/t/biosimilars-are-the-fastest-growing-segment-fueling-the-growth-of-the-insulin-glargine-market