During the course of the projected period, rising diabetes rates globally are anticipated to boost market growth for insulin glargine. Insulin glargine, a long-acting medicinal insulin, is used, like other forms of insulin, to maintain blood sugar levels that are close to normal. Almost 537 million individuals (20-79 years old) already have diabetes, and the figure is expected to climb to 643 million by 2030 and 783 million by 2045, according to the International Diabetes Federation (IDF) report for 2021. The global market for insulin glargine is anticipated to rise over the projected period as more people around the world utilise the drug.
The global Insulin Glargine Market was valued at US$ 6,153.5 Mn in 2021 and is forecast to reach a value of US$ 6,257.7 Mn by 2028 at a CAGR of 0.2% between 2022 and 2028.
Prominent Companies in the Insulin Glargine Industry:
1. Julphar
Established in 1980, Julphar has been delivering high quality, innovative and affordable healthcare solutions to families across the globe. The company has headquarters situated in Ras Al Khaimah, United Arab Emirates. In June, 2022 Julphar and Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd, a wholly-owned subsidiary of Huadong Medicine Co, Ltd, announced strategic cooperation by which, Julphar will develop, manufacture, and commercialize Liraglutide (including both indications of diabetes and obesity), in 17 countries in the Middle East and North Africa region (MENA) including the UAE, Saudi Arabia, Egypt, Kuwait, Oman, Bahrain, etc.
2. Biocon
Biocon Limited, a biopharmaceutical company, manufactures pharmaceuticals, and medicinal chemical and botanical products. The company serves customers in approximately 120 countries. Biocon Limited was founded in 1978 and is headquartered in Bengaluru, India. In November, 2022 Biocon Ltd. announced that it has successfully completed its multi-billion-dollar (USD) acquisition of the global biosimilars business of its partner Viatris Inc.
3. Eli Lilly and Company
Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. Eli Lilly and Company was founded in 1876 and is headquartered in Indianapolis, Indiana.
4. Sanofi Aventis
Sanofi, together with its subsidiaries, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally. It operates through three segments: Pharmaceuticals, Vaccines, and Consumer Healthcare. Sanofi was founded in 1973 and is headquartered in Paris, France. It also has a collaboration and license option agreement with Prellis Biologics, Inc. in 2021 December, Sanofi to acquired Amunix immuno-oncology pipeline with next generation Conditionally Activated Biologics.
5. Novo Nordisk AS
Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. The company was founded in 1923 and is headquartered in Bagsvaerd, Denmark. Novo Nordisk today announced that the acquisition of Forma Therapeutics Holdings, Inc. (Forma), announced on 1 September 2022, has been completed.
*Definition- Insulin glargine is a member of the long-acting insulins pharmacological class. It is a modified long-acting medicinal insulin that is used to treat type I and type II diabetes.
