Europe biosimilar insulin glargine and lispro market is projected to reach $ 1.9 billion by 2024 owing to rising levels of obesity, growing expenditure on healthcare and increasing adoption of sedentary lifestyle. United Kingdom ranks among the top 5 countries with the highest rate of Type 1 diabetes in children. Therefore, in order to address rising number of diabetes patients and insulin users in the region, more and more manufacturers are trying to market biosimilar insulin which is anticipated to drive the growth of biosimilar insulin glargine and lispro market in the forthcoming years. The insulin analogue retains its glucose lowering property for 24 hours with just one injection. Due to this property, the insulin analogue is preferred for maintaining the basal insulin level throughout the day, thereby aiding the market growth. Growing concern regarding the cost of insulin treatment is surging the demand for biosimilar insulin glargine and lispro that have the potential to reduce diabetes treatment costs, which is anticipated to boost the growth of market in the next 5 years. Moreover, ageing population and changing eating habits are further giving healthy push to Europe biosimilar insulin glargine and lispro market.
On the basis of end users, the biosimilar insulin glargine and lispro market is bifurcated into Type 1 Diabetes and Type 2 Diabetes. Among them, Type 1 Diabetes dominated the market with the largest market share until 2018 and is anticipated to maintain its position during the forecast period as well. The reason being, Type 1 diabetes is categorized as an autoimmune disease, therefore the body doesn’t produce any insulin. The only way to treat this disorder is getting oneself injected with insulin and getting the blood glucose levels regulated. Thereby, treatment of Type 1 diabetes generates maximum demand for insulin glargine and lispro in the region. With the higher adoption of sedentary lifestyle, especially in the growing economies people are facing difficulty in controlling Type 2 diabetes. Therefore, the utilization of biosimilar insulin glargine and lispro to treat Type 2 diabetes is expected to witness some growth during the forecast period.
Some of the players in Europe biosimilar insulin glargine and lispro are Sanofi, Eli Lilly-Boehringer Ingelheim, Mylan-Biocon, Geropharm, Novo Nordisk, Sandoz-Gan Lee, etc. The key players in the market are using strategies such as launch of new products, mergers and acquisitions to increase their customer base and expand their share in the market.
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 Europe biosimilar insulin glargine and lispro market.
- To forecast Europe biosimilar insulin glargine and lispro market based on end user, , and regional distribution.
- To identify drivers and challenges for Europe biosimilar insulin glargine and lispro market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Europe biosimilar insulin glargine and lispro market.
- To conduct the pricing analysis for Europe biosimilar insulin glargine and lispro market.
- To identify and analyze the profile of leading players operating in Europe biosimilar insulin glargine and lispro market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of biosimilar insulin glargine and lispro 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 suppliers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product types, application types and presence of all major biosimilar insulin glargine and lispro manufacturers across the region.
TechSci Research calculated Europe biosimilar insulin glargine and lispro market size by using a bottom-up approach, where data for various end user industries and its application across various product types were 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 and lispro manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to biosimilar insulin glargine and lispro market
- 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 product manufacturers and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Europe 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 United Kingdom
o The Netherlands
o Rest of Europe
Company Profiles: Detailed analysis of the major companies present in 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).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect sales channel.