Insulin lispro is a rapid-acting human insulin analog used for the management of diabetes. It is structurally altered to be more quickly absorbed into the bloodstream after injection than regular insulin. This alteration allows for faster action in lowering blood glucose levels after meals. c is estimated to be valued at US$ 7.32 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising prevalence of diabetes across the globe has been the key trend propelling the growth of the Insulin Lispro Market. As per the International Diabetes Federation (IDF), around 537 million adults between the ages of 20-79 years were living with diabetes in 2021 globally, and the number is projected to rise to 643 million by 2030 and 783 million by 2045. Growing diabetic population has increased the demand for insulin analogs like Insulin Lispro for effective diabetes management. Eli Lilly and Company holds a significant share in the Insulin Lispro Market with its commercial brand name Humalog. Increasing awareness regarding advanced insulin therapies and favorable reimbursement policies in developed countries are some other factors contributing to the growth of the Insulin Lispro Market.
SWOT Analysis
Strength: Insulin lispro has a fast onset and short duration of action which provides better control over blood sugar levels for patients. It has seen increasing adoption rates.
Weakness: Insulin lispro is more expensive compared to regular human insulin which could limit its uptake in low and middle income countries. Producing biosimilar versions also involves high costs.
Opportunity: The rising prevalence of diabetes globally, especially in emerging economies presents a major market opportunity. Growing awareness about advanced insulin therapies also supports the demand.
Threats: Intense competition exists from other rapid-acting insulin analogs like insulin glargine. Strict regulatory approvals for biosimilars pose challenges.
Key Takeaways
The global insulin lispro market is expected to witness high growth over the forecast period supported by the increasing diabetic patient pool worldwide.
Regional analysis: North America currently dominates the market due to new product approvals and established reimbursement structures. However, Asia Pacific is expected to offer lucrative opportunities with rising healthcare expenditures in major countries like China and India.
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., 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., Gan & Lee Pharmaceuticals and Ypsomed AG. Eli Lilly’s Humalog remains the leading branded product globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it