INSULIN GLARGINE MARKET ANALYSIS

Insulin Glargine Market Size and Trends

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.

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Global insulin glargine market is expected to witness a positive growth trend over the forecast period. The patent expiration of major insulin brands coupled with the introduction of affordable biosimilar insulin glargine products will boost market volume. Furthermore, technological advancements in drug delivery devices such as wearable and smart insulin pens and pumps will support this trend. However, stringent regulations for the approval of insulin products may slightly hamper market growth during the forecast years.

Rise in prevalence of diabetes

Increasing incidence of diabetes around the world is expected to augment growth of the global insulin glargine market over the forecast period. Like other types of insulin, insulin glargine (a long-acting medical insulin) is used to keep the blood sugar level close to normal. According to the International Diabetes Federation (IDF) Report in 2021, , around 537 million adults (20-79 years) are living with diabetes, and the total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045.

Increasing use of insulin glargine across the globe is expected to boost the growth of the global insulin glargine market during the forecast period. Insulin glargine is a self-injectable solution that is used to control high blood sugar (hyperglycemia) in individuals with type 1 and 2 diabetes, and therefore, the use of insulin glargine has increased worldwide. In November 2021, Viatris Inc. and Biocon Biologics Ltd. announced the U.S. launch of SEMGLEE (insulin glargine-yfgn) injection, and Insulin Glargine (insulin glargine-yfgn) injection to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.