PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1461444
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1461444
Global insulin glargine market is estimated to be valued at USD 5.45 Bn in 2024 and is expected to reach USD 8.43 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2023/2024: | US$ 5.45 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 6.40% | 2030/2031 Value Projection: | US$ 8.43 Bn |
Insulin glargine, also known as Lantus, is a long-acting basal insulin that is used for the treatment of diabetes mellitus. It is a synthetic form of human insulin created through recombinant DNA technology, engineered to be soluble in acidic environments. Upon injection, it precipitates and forms microcrystals in the subcutaneous tissue, creating a depot from which insulin is gradually absorbed into the bloodstream. This extended release and duration of action profile allows once-daily dosing to help control blood glucose levels in patients with type 1 and type 2 diabetes over 24 hours. Insulin glargine has a slower absorption profile as compared to other basal insulins such as insulin detemir and insulin NPH, and thus, provides a smooth and consistent level of insulin in the blood.
Global insulin glargine market growth is driven by growing prevalence of diabetes worldwide. According to estimates by the International Diabetes Federation 2021, over 537 million adults lived with diabetes in 2021, and the number is projected to rise to 643 million by 2030 and 783 million by 2045. Increasing geriatric population also contributes to market growth since diabetes is more common in older age groups. However, cost constraints, especially in developing countries, acts as a restrain. On the positive side, ongoing development of more effective and convenient drug delivery technologies is expected to present new opportunities.