NEWARK, Del, July 20, 2022 (GLOBE NEWSWIRE) -- The global CIS insulin market is estimated to garner US$ 600 Million while exhibiting a 2.7% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 465 Million in 2022. From 2015 to 2021, CIS insulin sales grew at a CAGR of 2.2% to be valued at US$ 455 Million.
Increasing initiatives to provide high-quality diagnoses increase the demand for the market. The rising prevalence of diabetes patients and changing lifestyles and eating habits resulting in health disorders such as obesity and other metabolic diseases this in turn is anticipated to foster the market growth in the near future.
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Also, the adverse effect of insulin therapy like hypoglycemia and pain at the site of injection may impact the use among some individuals are some of the prominent factors anticipated to hinder the market's growth during the forecast period.
Key Takeaways from the Market Study
- CIS insulin market worth to grow 1.3x during the 2022-2032 period of assessment
- By product type, the rapid-acting segment is expected to record a 2.2% CAGR by 2032
- By application, the Type I and other diabetes segment to expand at a 2.1% growth rate during the forecast period
- The U.S market to garner US$ 257 Million and record a 4.6% CAGR from 2022-2032
- Market in China to procure US$ 50 Million, expanding at a 4.5% growth rate during the assessment period
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“With a rising global incidence of diabetes, healthcare practitioners are extensively leveraging diagnostics and treatment technologies aimed at providing maximum relief to patients. This has widened prospects for CBD insulin products,” remarks an FMI analyst.
Competitive Landscape
Eminent players of the global CIS insulin market include Novo Nordisk, Sanofi, Eli Lilly, Bristol-Myers Squibb and Novartis among others. Recent key developments among players include:
- In June 2022- Lilly presents the new mechanism of action data and new analyses of of Mounjaro™ (tirzepatide) injection for the treatment of adults with type 2 diabetes at the American Diabetes Association's® 82nd Scientific Sessions.
- In November 2021 – Novo Nordisk announced the acquisition of Dicerna Pharmaceuticals (Dicerna). to discover and develop RNAi therapies using Dicerna’s proprietary GalXC™ RNAi platform technology.
- In February 2022 — Novartis India Limited (NIL) today announced an exclusive sales and distribution agreement with Dr. Reddy’s Laboratories (Dr. Reddy’s) for a few of its Established Medicines which includes the Voveran range, the Calcium range and Methergine.
- In January 2022- Bristol Myers Squibb and Century Therapeutics announced collaboration and license agreement develop and commercialize up to four induced pluripotent stem cell (“iPSC”) derived, engineered natural killer cell (“iNK”) and / or T cell (“iT”) programs for hematologic malignancies and solid tumors.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global CIS insulin market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Product (Rapid Acting, Long Acting, Premixed, Premixed Analog, Short-Acting, Intermediate-Acting) by Application (Type I and other diabetes, Type II diabetes) by Source (Human Recombinant Insulin, Analogs) and Region (North America, Latin America Europe, APAC, and Middle East & Africa)
Key Segments Profiled in the CIS Insulin Industry Survey
CIS Insulin Market by Product Type:
- Rapid Acting CIS Insulin
- Long Acting CIS Insulin
- Premixed CIS Insulin
- Premixed Analog CIS Insulin
- Short-Acting CIS Insulin
- Intermediate-Acting CIS Insulin
CIS Insulin Market by Application:
- CIS Insulin for treating Type I and Other Diabetes
- CIS Insulin for treating Type II Diabetes
CIS Insulin Market by Source:
- Human Recombinant CIS Insulin
- Analogs-based CIS Insulin
CIS Insulin Market by Region:
- North America CIS Insulin Market
- Latin America CIS Insulin Market
- Europe CIS Insulin Market
- Asia & Pacific CIS Insulin Market
- Middle East & Africa (MEA) CIS Insulin Market
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About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on CIS Insulin Market
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. CIS Insulin Market, by Key Countries
4.2. CIS Insulin Market Opportunity Assessment (US$ Mn)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
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