Insulin Biosimilars Market: Drivers and Restraints
Increasing prevalence of Type I diabetes, higher cost of existing insulin drugs are expected to drive growth of insulin biosimilars market. Government authorities are also focusing on the approval of insulin biosimilars owing to substantial financial burden in terms of reimbursements. Recently, the U.S. FDA has approved new insulin glargine Basaglar, for type 1 and type 2 diabetes which is Biosimilar version of Sanofi’s basal insulin Lantus (insulin glargine). Additionally, Lilly and Boehringer Ingelheim’s biosimilar insulin glargine has got approval through European Medicines Agency’s (EMA’s) Biosimilar pathway. Such ongoing approvals by the respective authorities are expected to drive the growth of insulin Biosimilar market. However, Insulin patent protection rights and strong retaliation from the branded manufactures has restricted the growth of insulin biosimilar development.
A new race has been initiated between biosimilar and branded drug manufacturers to gain maximum revenue share from insulin market. The upcoming three years are very crucial for insulin manufacturers, as most of the branded insulin are going to be off patent which would results into the loss of around US$53 Bn revenue for branded manufacturers in 2016. Generic manufacturers are expected to take smaller chunk of this amount owing to their local presence which would restrain them take share from other markets. In such dynamic situation, the original drug manufacturers are seeking for plan B to sustain their hold in the market. As a result, these companies are now integrated with biosimilar manufacturers through agreement, alliance. Moreover, legal troubles pertaining patent infringement is hampering the development insulin Biosimilars. In order to overcome such infringement issues, the companies are now collaborating with each other to develop biosimilars versions of insulin. Recent example of global collaboration agreement between Mylan N.V. and Momenta Pharmaceuticals, Inc. has provided a competitive advantage to Mylan by increasing the number of insulin biosimlars under development. This collaboration will capitalized Mylan’s existing portfolio of biologics and insulin analog development.
Insulin Biosimilars Market: Region-wise Outlook
Geographically, the global insulin biosimilar market is segmented into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific Excluding Japan, Japan, Middle East and Africa. Among all the regions, North America will continue to lead the global market for insulin biosimilars market due to high demand for insulin. Europe insulin market is expected to account for second largest share in global market primarily due to early approval for biosimilar which is expected to fuel the market growth. Asian companies are competing on the basis of price and has patient pool suffering diabetes. Hence, the Asia Pacific insulin biosimilar market is expected to witness fastest growth in overall market over the forecast period.
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Insulin Biosimilars Market: Key Players
Key players operating in the global insulin biosimilar market are Eli Lilly & Co., Boehringer Ingelheim, Merck & Co., Pfizer Inc., Biocon, Mylan N.V. and others
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
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Insulin Biosimilars Market: Segmentation
The global market for insulin Biosimilar is segmented on the basis of disease indication and geography.
On the basis of disease indication, the global insulin Biosimilar market is segmented as,
- Type I Diabetes
- Type II Diabetes
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
