PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629226
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629226
Insulin glargine market size was valued at USD 1,820.98 Million in 2023, expanding at a CAGR of 6.50% from 2024 to 2032.
Insulin glargine is a long-acting basal insulin analog used to help control blood sugar levels in individuals with diabetes. Unlike rapid-acting insulins, insulin glargine provides a steady release of insulin over approximately 24 hours, minimizing peaks and reducing the risk of blood sugar fluctuations. It is typically administered once daily, offering convenience and sustained blood sugar control, and is especially beneficial for patients with type 1 or type 2 diabetes requiring consistent insulin levels.
Insulin Glargine Market- Market Dynamics
Increasing incidence of diabetes worldwide to propel market demand
The global insulin glargine market is driven by the rising prevalence of type 2 diabetes, with 537 million adults diagnosed globally. The growing elderly population further increases demand for insulin therapies. Opportunities arise from government healthcare initiatives and the availability of biosimilars. Moreover, the development of more advanced insulin delivery systems, such as smart insulin pens and pumps, offers a more convenient and precise way to administer insulin glargine. However, the complex manufacturing process and supply chain disruptions, like semiconductor shortages, hinder growth.
Insulin Glargine Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.50% over the forecast period (2024-2032)
Based on type segmentation, lantus was predicted to show maximum market share in the year 2023
Based on diabetes type segmentation, type 2 diabetes was the leading segment in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Insulin Glargine Market is segmented on the basis of Type, Diabetes Type, Distribution Channell, and Region.
The market is divided into three categories based on type: basaglar, lantus, soliqua/suliqua, toujeo, and others. The lantus sector dominates the market. This is majorly due to its established efficacy as a long-acting insulin solution and widespread patient and physician preference. Its popularity is further supported by extensive clinical usage and strong brand recognition.
The market is divided into two categories based on diabetes type: type 1 diabetes and type 2 diabetes. The type 2 sector dominates the market and is likely to maintain its dominance during the forecast period. This growth is driven by the rising prevalence of type 2 diabetes worldwide, fueled by factors such as aging populations, urbanization, and lifestyle changes.
Insulin Glargine Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The insulin glargine market is expanding due to the rising demand for long-acting insulin solutions. Companies are focusing on improving product formulations to enhance patient compliance and minimize side effects. Additionally, competitive strategies include partnerships and collaborations to broaden distribution networks, as well as investment in biosimilar development to offer cost-effective alternatives. Some firms are also focusing on digital health integrations to provide comprehensive diabetes management solutions, targeting long-term user engagement.
In April 2024, Sanofi India announced the launch of Soliqua, a new diabetes treatment for adults with type 2 diabetes and obesity. Approved by CDSCO, it helps improve glycemic control alongside diet and exercise.