Biosimilar is a biological product which is similar to the reference product, already approved by authorities and marketed by companies other than the patent holder company. Insulin is a hormone produced by pancreatic cell which is responsible for absorption of glucose from the blood. Lack of insulin in the body causes diabetes. Insulin is available in different forms depending upon the sources such as animal derived, chemically synthesized or produced through recombinant technology. Insulin can be categorized as fast acting, immediate acting and long acting depending upon the absorption of insulin from the blood in the body. Glargine and lispro are two types of insulin.
Asia-Pacific biosimilar insulin glargine & lispro market is forecast to reach $ 786 million by 2024. Increasing expenditure on healthcare, changing eating habits and growing adoption of sedentary lifestyle are increasing the prevalence of obesity and diabetes, which in turn is driving the sales of biosimilar insulin. Additionally, increasing dependence on packaged food is further fueling growth of the market.
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, of which the former segment dominates the market since it is an autoimmune disorder and the body does not produce any insulin.
The major players operating in the biosimilar insulin glargine & lispro market are Sanofi S.A., Eli Lilly and Company, Biocon Limited, Novo Nordisk A/S, Wockhardt, Cipla Limited, Merck Limited, and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast the market size of Asia-Pacific biosimilar insulin glargine & lispro market.
- To classify and forecast Asia-Pacific biosimilar insulin glargine & lispro market based on end user, company and country distribution.
- To identify drivers and challenges for Asia-Pacific biosimilar insulin glargine & lispro market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Asia-Pacific biosimilar insulin glargine & lispro market.
- To conduct pricing analysis for Asia-Pacific biosimilar insulin glargine & lispro market.
- To identify and analyze the profile of leading players operating in Asia-Pacific biosimilar insulin glargine & lispro market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the region.
TechSci Research calculated the market size of Asia-Pacific biosimilar insulin glargine & lispro market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Biosimilar insulin glargine & lispro manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to insulin glargine & lispro
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Asia-Pacific biosimilar insulin glargine & lispro market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By End User:
o Type 1 Diabetes
o Type 2 Diabetes
- Market, By Country:
o South Korea
Company Profiles: Detailed analysis of the major companies present in Asia-Pacific biosimilar insulin glargine & lispro market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).