PUBLISHER: The Business Research Company | PRODUCT CODE: 1667834
PUBLISHER: The Business Research Company | PRODUCT CODE: 1667834
Insulin biosimilars denote biological products that closely resemble an existing reference insulin product in terms of quality, safety, and efficacy, which has already received approval and been introduced to the market. Widely employed to regulate blood glucose levels, insulin is indispensable for individuals managing diabetes to sustain healthy glucose levels.
The primary types of biosimilar insulin include rapid-acting biosimilars, long-acting biosimilars, and premixed-acting biosimilars. Rapid-acting biosimilars constitute a category of insulin biosimilar products engineered for swift onset of action and a relatively brief duration of activity. These biosimilars address various disease indications such as type I diabetes and type II diabetes, and they are distributed through diverse channels, including hospital pharmacies, retail pharmacies, and online pharmacies. The end-users encompass hospitals, ambulatory surgical centers, and other entities.
The insulin biosimilars market research report is one of a series of new reports from The Business Research Company that provides insulin biosimilars market statistics, including insulin biosimilars industry global market size, regional shares, competitors with an insulin biosimilars market share, detailed insulin biosimilars market segments, market trends and opportunities, and any further data you may need to thrive in the insulin biosimilars industry. This insulin biosimilar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The insulin biosimilars market size has grown rapidly in recent years. It will grow from$3.04 billion in 2024 to $3.53 billion in 2025 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to increased diabetes prevalence, growing healthcare costs, expanding access to diabetes treatment, market competition and price pressures, regulatory support and approval pathways
The insulin biosimilars market size is expected to see rapid growth in the next few years. It will grow to $6.17 billion in 2029 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to global diabetes burden, emerging markets and access expansion, biosimilar adoption policies, patient preference for affordability, collaborations and partnerships in biopharmaceutical industry. Major trends in the forecast period include diversification of insulin product portfolios, global market penetration, technology integration in insulin delivery, regulatory support for biosimilars development, patient-centric approaches in product development.
The growing prevalence of diabetes is anticipated to drive the growth of the insulin biosimilars market in the future. Diabetes encompasses a group of chronic metabolic disorders marked by prolonged high blood sugar levels. Biosimilars are essential in diabetes treatment, offering an alternative for insulin therapy, which increases the demand for insulin biosimilars as diabetes cases rise. For example, in July 2023, the National Center for Biotechnology Information, a U.S. government organization that provides access to biomedical and genomic information, reported that the prevalence of diabetes, which was 10.5% in 2021, is expected to increase to 11.3% by 2030 and further to 12.2% by 2040. Thus, the rising prevalence of diabetes is propelling the growth of the insulin biosimilars market.
The upward trajectory of healthcare expenditure is expected to fuel the growth of the insulin biosimilars market. Healthcare expenditure, representing the total spending on healthcare goods and services within a specific timeframe, is significantly influenced by insulin biosimilars, offering cost-effective alternatives and contributing to overall cost savings. For instance, according to the Centers for Medicare & Medicaid Services in September 2023, the projected average growth in National Health Expenditure (NHE) between 2022 and 2031 is expected to surpass the average GDP growth rate. This projected growth will result in an increased health spending share of Gross Domestic Product (GDP) from 18.3 percent in 2021 to 19.6 percent in 2031, thus driving the insulin biosimilars market.
Major companies in the insulin biosimilars market are focusing on developing interchangeable insulin to improve patient access, lower healthcare costs, and ensure consistent therapeutic outcomes for diabetes management. Interchangeable insulin plays a vital role in the insulin biosimilars market by increasing patient access to affordable treatments and promoting adherence to therapy. For example, in April 2023, Eli Lilly, a U.S.-based pharmaceutical company, introduced Rezvoglar (insulin glargine-aglr), an insulin glargine biosimilar designed to enhance glycemic control for both pediatric and adult patients with type 1 diabetes, as well as adults with type 2 diabetes. With its interchangeable designation, pharmacists can substitute it for other insulin glargine prescriptions without requiring physician approval, thereby improving patient accessibility. This launch establishes Rezvoglar as the second interchangeable insulin biosimilar in the U.S., fostering competition and affordability in the insulin biosimilars market.
Strategic partnerships have become a notable trend in major companies operating in the insulin biosimilar market, aiming to develop new products and fortify their market positions. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. For instance, in September 2023, Meitheal Pharmaceuticals partnered with Tonghua Dongbao Pharmaceutical to commercialize three insulin biosimilars, including insulin lispro, insulin glargine, and insulin aspart. This collaboration enables Meitheal Pharmaceuticals to broaden its product portfolio and enhance its global reach.
In November 2022, Biocon Biologics acquired Viatris' global biosimilars business for an undisclosed amount, taking over the portfolio of approved and pipeline biosimilar products, as well as dedicated R&D and manufacturing facilities. This strategic acquisition marked a significant milestone for Biocon Biologics, further consolidating its position in the biosimilars market. Viatris, a US-based pharmaceutical company specializing in insulin biosimilars, was the acquired entity.
Major companies operating in the insulin biosimilars market include Eli Lilly and Company, Boehringer Ingelheim GmbH, Merck & Co Inc., Pfizer Inc., Biocon Ltd., Mylan N.V., Wockhardt Limited, NOVO Nordisk A/S, Sanofi S.A, Fresenius Kabi AG, Sandoz International GmbH, Novartis International AG, Aurobindo Pharma Ltd., Intas Pharmaceuticals Ltd., Dr. Reddy's Laboratories Ltd., Samsungbioepis Co. Ltd., Teva Pharmaceutical Industries Ltd., Stada Arzneimittel AG, Celltrion Inc., Fujifilm Kyowa Kirin Biologics Co. Ltd., Green Cross Corporation, Lupin Limited, Torrent Pharmaceuticals Ltd., Zydus Lifescience Ltd.
North America was the largest region in the insulin biosimilars market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global insulin biosimilars market report during the forecast period. The regions covered in the insulin biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the insulin biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The insulin biosimilar market consists of sales of a variety of insulin types such as intermediate insulin, insulin glargine, and insulin analog. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Insulin biosimilars Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on insulin biosimilars market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for insulin biosimilars ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The insulin biosimilars market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.