Insulin Lispro is fastest segment fueling growth of global Insulin Lispro Market
The global Insulin Lispro Market is estimated to be valued at US$ 4.09 Bn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Insulin Lispro is a fast-acting insulin used to control high blood sugar in
patients with diabetes. It works quickly to lower blood glucose after eating
and therefore prevents spikes in blood sugar levels. It provides better
management of blood sugar levels leading to improved health outcomes.
Market key trends:
One of the key trends in the Insulin Lispro Market is the introduction of
insulin analogs and insulin pumps. Rising prevalence of diabetes has led to the
development of novel insulin formulations and therapies to improve the
management of the disease. Insulin analogs such as Insulin Lispro provide
faster action than regular human insulin. In addition, continuous subcutaneous
insulin infusion devices or insulin pumps allow for continuous administration
of small doses of insulin which mimic the body's normal insulin release. This
offers better glycemic control and reduces the risk of dangerous high and low
blood sugar levels.
Segment
Analysis
The global insulin lispro market is segmented into product type and
distribution channel. Based on product type, the market is segmented into
rapid-acting insulin, long-acting insulin and premixed insulin. Among these,
the rapid-acting insulin segment dominates the market and is expected to
continue its dominance during the forecast period. Rapid-acting insulin helps
control blood sugar levels accurately after a meal as it works fast to lower
blood sugar. Premixed insulin is the second largest segment.
Key Takeaways
The global insulin lispro market size is expected to witness high growth,
exhibiting a CAGR of 4.4% over the forecast period, due to increasing
prevalence of diabetes across the world.
Regional analysis -
North America dominates the global insulin lispro market,
owing to the rapidly rising diabetic population in the US and Canada. Asia
Pacific exhibits the fastest growth due rising healthcare expenditure and
increasing awareness about diabetes management.
Key players -
Key players operating in the insulin lispro market are Eli Lilly
and Company, Sanofi, Novo Nordisk A/S, Merck & Co., Inc., Pfizer Inc., F.
Hoffmann-La Roche Ltd., AstraZeneca PLC, Johnson & Johnson Services, Inc.,
Biocon Limited, Mylan N.V., Boehringer Ingelheim International GmbH, Wockhardt
Ltd., Lupin Pharmaceuticals, Inc., Bioton S.A., Ypsomed AG. Eli Lilly and
Company has the largest share in the market owing to its innovative product
portfolio and strong distribution channels across regions. Sanofi holds the
second position.
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