INSULIN LISPRO MARKET ANALYSIS

Market Challenges And Opportunities

Insulin Lispro Market Restraints:

• Cost and Affordability: Insulin therapy can be expensive, particularly for individuals without adequate insurance coverage or in regions with limited healthcare resources. The cost of insulin lispro and other insulin products may pose a barrier to access and affordability, limiting market growth. Insulin lispro injection 100 units/mL costs up to US$25 a vial and injection, a basal insulin that is biosimilar to, and interchangeable with, Lantus (insulin glargine) injection, for US$92 per five pack of KwikPens.

However, on March 2023, Eli Lilly and company announced price reductions of 70% for its most commonly prescribed insulins and an expansion of its Insulin Value Program that caps patient out-of-pocket costs at $35 or less per month.

• Limited Healthcare Infrastructure: In some regions, especially low- and middle-income countries, the healthcare infrastructure may be insufficient to support effective diabetes management. Limited access to healthcare facilities, diagnostics, and trained healthcare professionals can hinder the widespread adoption of insulin lispro. For instance, according to an article 'Global health in low-income and middle-income countries: a framework for action' published in 2021 'The Lancet' South Asian and sub-Saharan African countries on average contribute 0·65% of their gross domestic product to research and 0·69% to development.

Insulin Lispro Market Drivers:

• Increasing Prevalence of Diabetes: The rising prevalence of diabetes worldwide is a significant driver for the insulin lispro market. As the number of individuals diagnosed with diabetes continues to increase, there is a growing demand for insulin products like insulin lispro to manage blood sugar levels effectively. For instance, according to the article “The Institute For Health Metrics And Evaluation” published by Institute For Health Metrics And Evaluation on June 22, 2023, more than half a Bn people are living with diabetes worldwide, affecting men, women, and children of all ages in every country, and that number is projected to more than double to 1.3 Bn people in the next 30 years.
• Advancements in Insulin Delivery Devices: Continuous advancements in insulin delivery devices, such as insulin pens and pumps, have improved the convenience and ease of insulin administration. These advancements have increased patient compliance and the adoption of insulin therapies, thereby driving the demand for insulin lispro. For instance, on August 16, 2021, Eli Lilly and Company, a U.S.-based pharmaceutical company, announced the approval from the U.S. Food and Drug Administration (FDA) for rapid-acting insulin Lyumjev (insulin lispro-aabc injection) at 100 units/mL, which is indicated to improve glycemic control in adults with type 1 and type 2 diabetes, to include administration via continuous subcutaneous insulin infusion (CSII) with an insulin pump.
• Aging Population and Lifestyle Changes: The aging population and lifestyle changes, including sedentary lifestyles, unhealthy diets, and obesity, contribute to the increasing incidence of diabetes. As these factors continue to rise, there is a higher demand for insulin products like insulin lispro to manage diabetes effectively. For instance, according to an article ‘Ageing and Health’ published by the World Health Organization (WHO) in May 2023, By 2030, 1 in 6 people in the world will be aged 60 years or older. At this time, the share of the population aged 60 years and over will increase from 1 Mn in 2020 to 1.40 Mn. By 2050, the world’s population of people aged 60 years and older will double (2.10 Mn). The number of people aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million

Insulin Lispro Market Opportunities:

• Personalized Medicine and Precision Insulin Therapy: The concept of personalized medicine, including precision insulin therapy, is gaining traction. Advancements in technology and genetic profiling allow for customized insulin treatment plans based on an individual's unique needs. Insulin lispro can be a key component of precision medicine approaches, presenting opportunities for targeted therapies. According to Journal of Personalized Medicine article ‘Precision Medicine in Diabetes, Current Research and Future Perspectives’ published in July 2022, recently the American Diabetes Association (ADA) and the European Association for the Study of Diabetes (EASD) have jointly released an expert opinion-based consensus report on precision medicine. As per the report precision diabetes medicine as “an approach to optimize the diagnosis, prediction, prevention, or treatment of diabetes by integrating multidimensional data, accounting for individual differences”.
• Development of Biosimilar Insulin Lispro: The development and introduction of biosimilar versions of insulin lispro provide opportunities for cost-effective alternatives to the branded product. Biosimilars can increase access to insulin therapy, especially in regions with limited affordability, thereby expanding the market. For instance, in July 2021, Biocon Biologics Inc, India based global biopharmaceutical company, announced U.S. Food and Drug and Administration (FDA) approval for Semglee (insulin glargine-yfgn) which is first interchangeable biosimilar insulin product indicated to improve glycemic control in adults and pediatric patients with Type 1 diabetes mellitus and in adults with Type 2 diabetes mellitus.
• Increasing Adoption of Insulin Pump Therapy: Insulin pump therapy offers improved glycemic control and flexibility in insulin administration. The increasing adoption of insulin pump therapy presents opportunities for insulin lispro, which is compatible with various insulin pump devices. The convenience and precision of insulin pump therapy can drive the demand for insulin lispro. For instance, in January 2022, Insulet, U.S. based global medical device company announced U.S. Food and Drug Administration (FDA) approval for tubeless insulin pump, the Omnipod 5 which is a patch-like device capable of adjusting daily doses to changes in the wearer’s blood sugar levels. It is indicated for Type 1 diabetes for pediatric and adult.