Asia Pacific Biosimilar Insulin Glargine & Lispro Market to Surpass $ 796 Million by 2024
Ageing population and rising prevalence of obesity to drive
growth of Asia-Pacific biosimilar insulin glargine & lispro market through 2024
According to
TechSci Research report, “Asia Pacific Biosimilar Insulin
Glargine & Lispro Market By End User, By
Country, Competition, Forecast & Opportunities, 2024”, Asia-Pacific biosimilar insulin glargine & lispro market
is projected to reach $ 786 million by 2024. Biosimilar insulin glargine & lispro are witnessing
rising adoption on account of increasing number of diabetes patients and growing
prevalence of obesity. However, the pharmaceutical
industry is a highly regulated one and this can hamper the growth of the market
during forecast period. Additionally, high competition from the hybrid
polymers and composites is further expected to obstruct the biosimilar insulin
glargine & lispro market.
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Asia-Pacific
biosimilar insulin glargine & lispro market is segmented based on end user,
country and company. Based on end user, the market can be bifurcated into
Type 1 Diabetes and Type 2 Diabetes. The Type 1 diabetes dominates the market
since the body is unable to produce insulin in this disease. Therefore,
getting oneself injected with insulin is the only way to treat this and get the
blood glucose levels regulated. Hence, treatment of Type 1 diabetes generates
maximum demand for insulin glargine and lispro across the globe. Type 2
diabetes segment is expected to grow at a fast pace during forecast period
owing to the growing sedentary lifestyle due to which people are failing to
maintain an active daily life, leading to obesity and occurrence of Type 2
diabetes. Therefore, the utilization of biosimilar insulin glargine and lispro
to treat Type 2 diabetes is expected to see some growth during the forecast
period.
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Sanofi S.A., Eli
Lilly and Company, Biocon Limited, Novo Nordisk A/S, Wockhardt,
Cipla Limited, Merck Limited, and others are some of the leading players operating in Asia-Pacific
biosimilar insulin glargine & lispro market. The companies operating in the
market are using organic strategies such as product launches, mergers and
collaborations to boost their share. “Asia-Pacific is expected to be the fastest growing
market for biosimilar insulin glargine & lispro during the forecast period,
owing to the increasing number of diabetes patients in this region. Moreover, India
ranked 2nd in the number of diabetic patients across the world, which
in turn, is providing new opportunities for the market to grow at a rapid rate in
the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Asia Pacific Biosimilar Insulin Glargine
& Lispro Market By End User, By Country, Competition, Forecast &
Opportunities, 2024” has evaluated
the future growth potential of Asia-Pacific biosimilar insulin glargine &
lispro market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Asia-Pacific biosimilar
insulin glargine & lispro market.
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