Biosimilar Insulin Market by Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research presents a comprehensive analysis of the global Biosimilar Insulin Market, examining the market dynamics, key drivers, challenges, and emerging trends. This report offers a detailed overview of the projected market trajectory from 2024 through 2031, providing critical insights for stakeholders and decision-makers in the biosimilar insulin industry.

Revenue from the global biosimilar insulin market reached US$ 1.9 Bn at the end of 2024, with the global market estimated to surge ahead at a value CAGR of 14.9% to reach US$ 5 Bn by the end of 2031.

Key Insights:

Estimated Market Value (2024): USD 1.9 Billion
Projected Market Value (2031): USD 5 Billion
Global Market Growth Rate (CAGR 2024 to 2031): 14.9%

Biosimilar Insulin Market - Report Scope:

The growing prevalence of diabetes globally is one of the primary factors driving the demand for biosimilar insulin. An increasing number of patients require insulin therapy, and biosimilars offer a cost-effective alternative to branded insulin products. Governments and healthcare providers are promoting biosimilar adoption to reduce healthcare expenditure, especially in regions with limited access to insulin. This trend is further supported by regulatory policies favoring the approval and marketing of biosimilar products.

Market Growth Drivers:

The key drivers of growth in the biosimilar insulin market include the increasing prevalence of diabetes, especially type 2 diabetes, and the growing demand for more affordable insulin options. The rising cost of branded insulin has created a need for cheaper alternatives, making biosimilar insulin an attractive choice for patients and healthcare systems. Additionally, regulatory frameworks are evolving to facilitate the approval and market entry of biosimilars, further boosting market growth.

Market Restraints:

Despite its potential, the biosimilar insulin market faces several challenges. One of the primary concerns is the reluctance among healthcare professionals to switch from established branded insulin products to biosimilars. This hesitancy is often due to uncertainty about the efficacy and safety of biosimilars compared to their branded counterparts. Furthermore, the regulatory approval process for biosimilar insulin can be complex and costly, creating barriers for market entry. Intellectual property issues and patent litigation also pose risks to market expansion.

Market Opportunities:

The biosimilar insulin market offers significant opportunities for growth and expansion. As more insulin patents expire, new biosimilar products can enter the market, increasing competition and driving down prices. Additionally, partnerships between pharmaceutical companies and healthcare providers can facilitate wider adoption of biosimilars. The growing focus on personalized medicine and patient-centric care provides an opportunity to promote biosimilar insulin as a flexible and affordable treatment option. Furthermore, increased awareness and education about the benefits of biosimilars can help overcome resistance among healthcare professionals and patients.

Key Questions Addressed in the Report:

What is the Expected Value CAGR of the Biosimilar Insulin Market from 2024 to 2031?
What are the Primary Drivers for the Growth of the Biosimilar Insulin Market?
Which Regions Offer the Most Significant Growth Opportunities for the Biosimilar Insulin Market?
Who are the Key Players in the Global Biosimilar Insulin Market?
What are the Major Challenges Faced by the Biosimilar Insulin Market?

Competitive Landscape and Business Strategies:

Leading players in the biosimilar insulin market include Mylan N.V., Biocon Limited, Sanofi, and Eli Lilly and Company. These companies focus on product innovation, strategic partnerships, and market expansion to maintain a competitive edge. Strategies include expanding manufacturing capabilities, investing in R&D for new biosimilar products, and entering strategic alliances with other pharmaceutical companies to broaden market reach. Additionally, collaborations with healthcare providers and insurance companies help drive biosimilar adoption and increase market penetration.

Key Companies Profiled:

Biocon
Eli Lilly and Company
Sanofi
BGP Pharma
Aspen
Mylan (Viatris)

Biosimilar Insulin Market Segmentation:

Biosimilar Insulin Market by Product:

Insulin Glargine
Insulin Analog
Others

Biosimilar Insulin Market by Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

Biosimilar Insulin Market by Region:

North America Biosimilar Insulin Market
Latin America Biosimilar Insulin Market
Europe Biosimilar Insulin Market
APAC Biosimilar Insulin Market
Middle East & Africa Biosimilar Insulin Market

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Product Code: PMRREP11674

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusion And Exclusions

3. Key Market Trends

3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends

4. Key Success Factors

4.1. Key Products USP/Feature Analysis
4.2. Regulatory Scenario
4.3. Key Promotional Strategies By Manufacturers
4.4. Recent Product Launches
4.5. Value Chain Analysis
4.6. Product Adoption Analysis by Region

5. Market Background

5.1. Macro-Economic Factors
- 5.1.1. Global GDP Growth Outlook
- 5.1.2. Global Healthcare Industry Outlook
- 5.1.3. Parent Market Analysis (Insulin Market)
5.2. Forecast Factors - Relevance & Impact
- 5.2.1. Growing Prevalence Of Diabetes
- 5.2.2. Increasing Research and Development Activities
- 5.2.3. New Product Launches
- 5.2.4. Increasing Number Of Clinical Trials
- 5.2.5. Patent Expiry for Insulin
- 5.2.6. Growing Geriatric Population
- 5.2.7. Increasing Insulin Manufacturers
- 5.2.8. Requirement of Cost-Efficient Products
5.3. Market Dynamics
- 5.3.1. Drivers
- 5.3.2. Restraints
- 5.3.3. Opportunity Analysis

6. COVID-19 Crisis Analysis

6.1. 2023 Market Scenario
6.2. COVID-19 and Impact Analysis
- 6.2.1. By Product
- 6.2.2. By Distribution Channel
- 6.2.3. By Region

7. Global Biosimilar Insulin Market Demand (in Value or Size in US$ Mn) Analysis 2019-2023 and Forecast, 2024-2031

7.1. Historical Market Value (US$ Mn) Analysis, 2019-2023
7.2. Current and Future Market Value (US$ Mn) Projections, 2024-2031
- 7.2.1. Y-o-Y Growth Trend Analysis
- 7.2.2. Absolute $ Opportunity Analysis

8. Global Biosimilar Insulin Market - Pricing Analysis

8.1. Regional Pricing Analysis By Product
8.2. Global Average Pricing Analysis Benchmark
8.3. Pricing Break-up
- 8.3.1. Manufacturer Level Pricing
- 8.3.2. Distributor Level Pricing
8.4. Pricing Assumptions

9. Global Biosimilar Insulin Market Analysis 2019-2023 and Forecast 2024-2031, By Product

9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) Analysis By Product, 2019-2023
9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Product, 2024-2031
- 9.3.1. Insulin Glargine
- 9.3.2. Insulin Analog
- 9.3.3. Others
9.4. Market Attractiveness Analysis By Product

10. Global Biosimilar Insulin Market Analysis 2019-2023 and Forecast 2024-2031, By Distribution Channel

10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) Analysis By Distribution Channel, 2019-2023
10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Distribution Channel, 2024-2031
- 10.3.1. Hospital Pharmacies
- 10.3.2. Retail Pharmacies
- 10.3.3. Online Pharmacies
10.4. Market Attractiveness Analysis By Distribution Channel

11. Global Biosimilar Insulin Market Analysis 2019-2023 and Forecast 2024-2031, By Region

11.1. Introduction
11.2. Historical Market Size (US$ Mn) Analysis By Region, 2019-2023
11.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Region, 2024-2031
- 11.3.1. North America
- 11.3.2. Latin America
- 11.3.3. Europe
- 11.3.4. Asia Pacific (APAC)
- 11.3.5. Middle East and Africa (MEA)
11.4. Market Attractiveness Analysis By Region

12. North America Biosimilar Insulin Market Analysis 2019-2023 and Forecast 2024-2031

12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
12.4. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2024-2031
- 12.4.1. By Country
  - 12.4.1.1. U.S.
  - 12.4.1.2. Canada
- 12.4.2. By Product
- 12.4.3. By Distribution Channel
12.5. Market Attractiveness Analysis
- 12.5.1. By Country
- 12.5.2. By Product
- 12.5.3. By Distribution Channel
12.6. Key Market Participants - Intensity Mapping
12.7. Drivers and Restraints - Impact Analysis
12.8. Country Level Analysis & Forecast
- 12.8.1. U.S. Biosimilar Insulin Market
  - 12.8.1.1. Introduction
  - 12.8.1.2. Market Analysis and Forecast by Market Taxonomy
    - 12.8.1.2.1. By Product
    - 12.8.1.2.2. By Distribution Channel
- 12.8.2. Canada Biosimilar Insulin Market
  - 12.8.2.1. Introduction
  - 12.8.2.2. Market Analysis and Forecast by Market Taxonomy
    - 12.8.2.2.1. By Product
    - 12.8.2.2.2. By Distribution Channel

13. Latin America Biosimilar Insulin Market Analysis 2019-2023 and Forecast 2024-2031

13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
13.4. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2024-2031
- 13.4.1. By Country
  - 13.4.1.1. Brazil
  - 13.4.1.2. Argentina
  - 13.4.1.3. Mexico
  - 13.4.1.4. Rest of Latin America
- 13.4.2. By Product
- 13.4.3. By Distribution Channel
13.5. Market Attractiveness Analysis
- 13.5.1. By Country
- 13.5.2. By Product
- 13.5.3. By Distribution Channel
13.6. Key Market Participants - Intensity Mapping
13.7. Drivers and Restraints - Impact Analysis
13.8. Country Level Analysis & Forecast
- 13.8.1. Brazil Biosimilar Insulin Market
  - 13.8.1.1. Introduction
  - 13.8.1.2. Market Analysis and Forecast by Market Taxonomy
    - 13.8.1.2.1. By Product
    - 13.8.1.2.2. By Distribution Channel
- 13.8.2. Argentina Biosimilar Insulin Market
  - 13.8.2.1. Introduction
  - 13.8.2.2. Market Analysis and Forecast by Market Taxonomy
    - 13.8.2.2.1. By Product
    - 13.8.2.2.2. By Distribution Channel
- 13.8.3. Mexico Biosimilar Insulin Market
  - 13.8.3.1. Introduction
  - 13.8.3.2. Market Analysis and Forecast by Market Taxonomy
    - 13.8.3.2.1. By Product
    - 13.8.3.2.2. By Distribution Channel

14. Europe Biosimilar Insulin Market Analysis 2019-2023 and Forecast 2024-2031

14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
14.4. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2024-2031
- 14.4.1. By Country
  - 14.4.1.1. Germany
  - 14.4.1.2. Italy
  - 14.4.1.3. France
  - 14.4.1.4. U.K.
  - 14.4.1.5. Spain
  - 14.4.1.6. BENELUX
  - 14.4.1.7. Nordic Countries
  - 14.4.1.8. Russia
  - 14.4.1.9. Rest of Europe
- 14.4.2. By Product
- 14.4.3. By Distribution Channel
14.5. Market Attractiveness Analysis
- 14.5.1. By Country
- 14.5.2. By Product
- 14.5.3. By Distribution Channel
14.6. Key Market Participants - Intensity Mapping
14.7. Drivers and Restraints - Impact Analysis
14.8. Country Level Analysis & Forecast
- 14.8.1. Germany Biosimilar Insulin Market
  - 14.8.1.1. Introduction
  - 14.8.1.2. Market Analysis and Forecast by Market Taxonomy
    - 14.8.1.2.1. By Product
    - 14.8.1.2.2. By Distribution Channel
- 14.8.2. France Biosimilar Insulin Market
  - 14.8.2.1. Introduction
  - 14.8.2.2. Market Analysis and Forecast by Market Taxonomy
    - 14.8.2.2.1. By Product
    - 14.8.2.2.2. By Distribution Channel
- 14.8.3. Italy Biosimilar Insulin Market
  - 14.8.3.1. Introduction
  - 14.8.3.2. Market Analysis and Forecast by Market Taxonomy
    - 14.8.3.2.1. By Product
    - 14.8.3.2.2. By Distribution Channel
- 14.8.4. Spain Biosimilar Insulin Market
  - 14.8.4.1. Introduction
  - 14.8.4.2. Market Analysis and Forecast by Market Taxonomy
    - 14.8.4.2.1. By Product
    - 14.8.4.2.2. By Distribution Channel
- 14.8.5. U.K. Biosimilar Insulin Market
  - 14.8.5.1. Introduction
  - 14.8.5.2. Market Analysis and Forecast by Market Taxonomy
    - 14.8.5.2.1. By Product
    - 14.8.5.2.2. By Distribution Channel
- 14.8.6. BENULUX Biosimilar Insulin Market
  - 14.8.6.1. Introduction
  - 14.8.6.2. Market Analysis and Forecast by Market Taxonomy
    - 14.8.6.2.1. By Product
    - 14.8.6.2.2. By Distribution Channel
- 14.8.7. Nordic Countries Biosimilar Insulin Market
  - 14.8.7.1. Introduction
  - 14.8.7.2. Market Analysis and Forecast by Market Taxonomy
    - 14.8.7.2.1. By Product
    - 14.8.7.2.2. By Distribution Channel
- 14.8.8. Russia Biosimilar Insulin Market
  - 14.8.8.1. Introduction
  - 14.8.8.2. Market Analysis and Forecast by Market Taxonomy
    - 14.8.8.2.1. By Product
    - 14.8.8.2.2. By Distribution Channel

15. Asia Pacific (APAC) Biosimilar Insulin Market Analysis 2019-2023 and Forecast 2024-2031

15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
15.4. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2024-2031
- 15.4.1. By Country
  - 15.4.1.1. China
  - 15.4.1.2. Japan
  - 15.4.1.3. India
  - 15.4.1.4. Australia
  - 15.4.1.5. New Zealand
- 15.4.2. By Product
- 15.4.3. By Distribution Channel
15.5. Market Attractiveness Analysis
- 15.5.1. By Country
- 15.5.2. By Product
- 15.5.3. By Distribution Channel
15.6. Key Market Participants - Intensity Mapping
15.7. Drivers and Restraints - Impact Analysis
15.8. Country Level Analysis & Forecast
- 15.8.1. China Biosimilar Insulin Market
  - 15.8.1.1. Introduction
  - 15.8.1.2. Market Analysis and Forecast by Market Taxonomy
    - 15.8.1.2.1. By Product
    - 15.8.1.2.2. By Distribution Channel
- 15.8.2. Japan Biosimilar Insulin Market
  - 15.8.2.1. Introduction
  - 15.8.2.2. Market Analysis and Forecast by Market Taxonomy
    - 15.8.2.2.1. By Product
    - 15.8.2.2.2. By Distribution Channel
- 15.8.3. India Biosimilar Insulin Market
  - 15.8.3.1. Introduction
  - 15.8.3.2. Market Analysis and Forecast by Market Taxonomy
    - 15.8.3.2.1. By Product
    - 15.8.3.2.2. By Distribution Channel
- 15.8.4. Australia Biosimilar Insulin Market
  - 15.8.4.1. Introduction
  - 15.8.4.2. Market Analysis and Forecast by Market Taxonomy
    - 15.8.4.2.1. By Product
    - 15.8.4.2.2. By Distribution Channel
- 15.8.5. New Zealand Biosimilar Insulin Market
  - 15.8.5.1. Introduction
  - 15.8.5.2. Market Analysis and Forecast by Market Taxonomy
    - 15.8.5.2.1. By Product
    - 15.8.5.2.2. By Distribution Channel

16. Middle East and Africa (MEA) Biosimilar Insulin Market Analysis 2019-2023 and Forecast 2024-2031

16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
16.4. Current and Future Market Size (US$ Mn) Analysis and Forecast By Market Taxonomy, 2024-2031
- 16.4.1. By Country
  - 16.4.1.1. GCC Countries
  - 16.4.1.2. Israel
  - 16.4.1.3. Turkey
  - 16.4.1.4. Egypt
  - 16.4.1.5. North Africa
  - 16.4.1.6. South Africa
  - 16.4.1.7. Rest of Middle East and Africa
- 16.4.2. By Product
- 16.4.3. By Distribution Channel
16.5. Market Attractiveness Analysis
- 16.5.1. By Country
- 16.5.2. By Product
- 16.5.3. By Distribution Channel
16.6. Key Market Participants - Intensity Mapping
16.7. Drivers and Restraints - Impact Analysis
16.8. Country Level Analysis & Forecast
- 16.8.1. GCC Countries Biosimilar Insulin Market
  - 16.8.1.1. Introduction
  - 16.8.1.2. Market Analysis and Forecast by Market Taxonomy
    - 16.8.1.2.1. By Product
    - 16.8.1.2.2. By Distribution Channel
- 16.8.2. Israel Biosimilar Insulin Market
  - 16.8.2.1. Introduction
  - 16.8.2.2. Market Analysis and Forecast by Market Taxonomy
    - 16.8.2.2.1. By Product
    - 16.8.2.2.2. By Distribution Channel
- 16.8.3. Turkey Biosimilar Insulin Market
  - 16.8.3.1. Introduction
  - 16.8.3.2. Market Analysis and Forecast by Market Taxonomy
    - 16.8.3.2.1. By Product
    - 16.8.3.2.2. By Distribution Channel
- 16.8.4. Egypt Biosimilar Insulin Market
  - 16.8.4.1. Introduction
  - 16.8.4.2. Market Analysis and Forecast by Market Taxonomy
    - 16.8.4.2.1. By Product
    - 16.8.4.2.2. By Distribution Channel
- 16.8.5. North Africa Biosimilar Insulin Market
  - 16.8.5.1. Introduction
  - 16.8.5.2. Market Analysis and Forecast by Market Taxonomy
    - 16.8.5.2.1. By Product
    - 16.8.5.2.2. By Distribution Channel
- 16.8.6. South Africa Biosimilar Insulin Market
  - 16.8.6.1. Introduction
  - 16.8.6.2. Market Analysis and Forecast by Market Taxonomy
    - 16.8.6.2.1. By Product
    - 16.8.6.2.2. By Distribution Channel

17. Market Structure Analysis

17.1. Market Analysis by Tier of Companies
17.2. Market Share Analysis of Top Players
17.3. Market Presence Analysis
- 17.3.1. Regional footprint of Players
- 17.3.2. Platform Type foot print by Players
- 17.3.3. Channel Foot Print by Players

18. Competition Analysis

18.1. Competition Dashboard
18.2. Competition Benchmarking
18.3. Competition Deep Dive
- 18.3.1. Biocon
  - 18.3.1.1. Overview
  - 18.3.1.2. Product Portfolio
  - 18.3.1.3. Key Financials
  - 18.3.1.4. Geographical Footprint
  - 18.3.1.5. SWOT Analysis
  - 18.3.1.6. Key Developments
  - 18.3.1.7. Strategy Overview
    - 18.3.1.7.1. Channel Strategy
    - 18.3.1.7.2. Marketing Strategy
    - 18.3.1.7.3. Product Strategy
- 18.3.2. Eli Lilly and Company
  - 18.3.2.1. Overview
  - 18.3.2.2. Product Portfolio
  - 18.3.2.3. Key Financials
  - 18.3.2.4. Geographical Footprint
  - 18.3.2.5. SWOT Analysis
  - 18.3.2.6. Key Developments
  - 18.3.2.7. Strategy Overview
    - 18.3.2.7.1. Channel Strategy
    - 18.3.2.7.2. Marketing Strategy
    - 18.3.2.7.3. Product Strategy
- 18.3.3. Sanofi
  - 18.3.3.1. Overview
  - 18.3.3.2. Product Portfolio
  - 18.3.3.3. Key Financials
  - 18.3.3.4. Geographical Footprint
  - 18.3.3.5. SWOT Analysis
  - 18.3.3.6. Key Developments
  - 18.3.3.7. Strategy Overview
    - 18.3.3.7.1. Channel Strategy
    - 18.3.3.7.2. Marketing Strategy
    - 18.3.3.7.3. Product Strategy
- 18.3.4. BGP Pharma
  - 18.3.4.1. Overview
  - 18.3.4.2. Product Portfolio
  - 18.3.4.3. Key Financials
  - 18.3.4.4. Geographical Footprint
  - 18.3.4.5. SWOT Analysis
  - 18.3.4.6. Key Developments
  - 18.3.4.7. Strategy Overview
    - 18.3.4.7.1. Channel Strategy
    - 18.3.4.7.2. Marketing Strategy
    - 18.3.4.7.3. Product Strategy
- 18.3.5. Aspen
  - 18.3.5.1. Overview
  - 18.3.5.2. Product Portfolio
  - 18.3.5.3. Key Financials
  - 18.3.5.4. Geographical Footprint
  - 18.3.5.5. SWOT Analysis
  - 18.3.5.6. Key Developments
  - 18.3.5.7. Strategy Overview
    - 18.3.5.7.1. Channel Strategy
    - 18.3.5.7.2. Marketing Strategy
    - 18.3.5.7.3. Product Strategy
- 18.3.6. Mylan (Viatris)
  - 18.3.6.1. Overview
  - 18.3.6.2. Product Portfolio
  - 18.3.6.3. Key Financials
  - 18.3.6.4. Geographical Footprint
  - 18.3.6.5. SWOT Analysis
  - 18.3.6.6. Key Developments
  - 18.3.6.7. Strategy Overview
    - 18.3.6.7.1. Channel Strategy
    - 18.3.6.7.2. Marketing Strategy
    - 18.3.6.7.3. Product Strategy