Insulin glargine is a long-acting insulin analog used for the treatment of diabetes mellitus. It is commonly known as Lantus and is administered through subcutaneous injection to maintain tight control over blood sugar levels. Insulin glargine is considered as a significant medical breakthrough as it allows consistent insulin levels for up to 24 hours, reducing the risk of hyper- and hypoglycemia associated with other insulin treatments. The global insulin glargine market is estimated to be valued at US$ 1.68 Bn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Rising prevalence of diabetes globally has been a key driver boosting the growth of the Global Insulin Glargine Market Size. As per the International Diabetes Federation, around 520 million people were living with diabetes as of 2021 and it is further estimated to rise to 700 million by 2045. This rising prevalence of diabetes has increased the demand for effective diabetic therapies such as long-acting insulin analogs like insulin glargine. Additionally, favorable government policies supporting diabetes management coupled with growing healthcare expenditure have also contributed to the market growth. However, availability of alternative treatment options and patent expiration of major insulin glargine brands are expected to hinder the market growth to some extent over the forecast period.

SWOT Analysis

Strength: Insulin glargine is a long-acting basal insulin used to treat diabetes. It has a long duration of action which allows it to maintain basal insulin levels for 24 hours with once-daily dosing. This significantly improves patient compliance compared to other short-acting insulins. Its low daily fluctuation in blood sugar levels also reduces the risk of hypoglycemia.

Weakness: Insulin glargine is more expensive than other human insulins and biosimilars. This high cost limits its widespread adoption especially in developing markets. It also requires cold chain storage and transportation, increasing logistical challenges.

Opportunity: Growing prevalence of diabetes worldwide due to sedentary lifestyles and obesity presents a large patient pool for basal insulin therapies. Increasing awareness about superior glycemic control with long-acting insulins compared to other options also boosts demand. Development of more affordable biosimilars expands the potential market size.

Threats: Entry of competing long-acting insulin analogues and biosimilars erodes brand loyalty and pricing power. Stringent regulations for biosimilars approval delays their market entry.

Key Takeaways

The global insulin glargine market is expected to witness high growth over the forecast period of 2024-2031.

Regional analysis: North America currently dominates the market owing to high healthcare expenditure and growing diabetes incidence. However, Asia Pacific is expected to register fastest growth due to rising living standards, large patient base and increasing focus of global players.

Key players: Key players operating in the insulin glargine market are Siemens Healthineers, Mckesson Corporation, IBM Corporation, Genpact Limited, Epic Systems Corporation, Deloitte, Cerner Corporation, Accenture Plc, Allscripts Healthcare Solutions Inc., and Cognizant Technology Solutions Corporation, among others. They focus on expanding geographical presence and tapping high growth emerging markets through partnerships.

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