CIS Insulin Market: Forecasting Future Market Trends and Challenges
The CIS insulin market size is expected to reach USD 4.67 billion by 2030, registering a CAGR of 5.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The presence of an extensive pipeline portfolio of products exhibiting higher efficacies and their subsequent commercialization over the next six years is expected to serve this market as a high impact rendering driver. The introduction of government initiatives aimed at improving the affordability of insulin via price reduction, such as the collaboration between the government of Ukraine and Indar to reduce the price of insulin by 20% in 2013 is expected to have positive influence on demand. Some of the other drivers of this market include increasing attempts made by manufacturers to capitalize on the untapped opportunities by opening new manufacturing units to improve the supply of insulin and growing incidence rates of type II diabetes are some of the factors expected to fuel future market growth.
Access the CIS Insulin Market Size, Share & Trends Analysis Report By Product, By Type (Human Insulin, Insulin Analog), By Application (Type 1 Diabetes), By Distribution Channel, By Region, And Segment Forecasts, 2024 – 2030
CIS Insulin Market Report Highlights
· Poland CIS Insulin market held a substantial market share of 10.3% in 2023 due to various factors influencing market growth, including drivers, constraints, opportunities, and threats
· Long-acting Insulin dominated the market and accounted for a share of 52.7% in 2023. Long-acting insulins mimic natural insulin with a slower onset of action and are mainly utilized as basal insulins.
· Type 1 Diabetes dominated the market and accounted for a share of 79.6% in 2023. Type 1 diabetes primarily affects children, teenagers, and some adults. Type 2 Diabetes is expected to register the fastest CAGR of 11.6% during the forecast period, driven by the increasing prevalence of the condition in the CIS region.
· Insulin analog led the market with the largest revenue share of 89.0% in 2023. Insulin analogs are a form of engineered insulin that starts working quickly and has an instant impact on the body's functions.
Key CIS Insulin Company Insights
Leading insulin manufacturers are adopting strategies such as new product launches, partnerships, and mergers to increase market share. The arrival of biosimilar insulin has created opportunities for new players. Governments in the CIS region are providing support to local producers, encouraging multinational companies to set up production units. Investments in R&D are also driving innovation in insulin drugs and devices.
Order your free sample copy of “CIS Insulin Market Report 2024 - 2030, published by Grand View Research
Some of the key companies in the CIS Insulin market include
Novo Nordisk A/S focuses on developing, manufacturing, and selling pharmaceutical products. The company specializes in providing diabetes care, including insulin delivery systems and various other diabetes products. Novo Nordisk is also active in fields such as managing haemostasis, treating growth disorders, and providing hormone replacement therapy.
Eli Lilly and Company, a pharmaceutical company transforms scientific research into treatments to improve the lives of individuals globally. By utilizing biotechnology, chemistry, and genetic medicine, company is pushing the boundaries of science to address major global health issues.
· Key CIS Insulin Companies:
· Eli Lilly and Company
· Sanofi S.A.
· Boehringer Ingelheim International GmbH
· Oramed Pharmaceuticals Inc.
· Novo Nordisk A/S
· Merck & Co., Inc.
· Bristol-Myers Squibb Company
· Novartis AG
About Grand View Research:
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com
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Grand View Research, Inc.
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