The global CIS insulin market is expected to reach USD 465 Million by 2022. An increasing number of diabetic patients are estimated to further increase the demand for CIS insulin. During the forecast period ranging from 2022 to 2032, the market is projected to grow at a CAGR of 2.7%, totaling around USD 600 Million by the end of 2032. As of 2021, the market was valued at USD 455 Million, which experienced a Y-o-Y growth rate of 2.2% in 2022.
| Report Attribute | Key Statistics |
|---|---|
| Expected Base Year Value (2021) | USD 455 Million |
| Anticipated Current Value (2022) | USD 465 Million |
| Projected Forecast Value (2032) | USD 600 Million |
| Global Growth Rate (2022-2032) | 2.7% CAGR |
Insulin is considered to be the main anabolic hormone of the body produced by beta cells in the pancreas. It regulates metabolism by promoting the absorption of glucose from the blood into the liver, fat, and skeletal muscle cells. Insufficient production of insulin leads to the accumulation of sugar in blood cells which causes diabetes.
The most common is type 2 diabetes, usually in adults, which occurs when the body becomes resistant to insulin or doesn't make enough insulin. In the past three decades, the prevalence of type 2 diabetes has risen dramatically in countries of all income levels. Type 1 diabetes, once known as juvenile diabetes or insulin-dependent diabetes, is a chronic condition in which the pancreas produces little or no insulin by itself.
Regionally, North America, spearheaded by the USA. dominates the global CIS insulin market, during the forecast period. The market is likely to garner USD 33 Million while exhibiting a CAGR of 3.4% from 2022 to 2032. Growth in the North American CIS Insulin market is driven by the increasing prevalence rate of diabetes and metabolic diseases, and the strong presence of leading CIS Insulin market players in the region.
On the other hand, Europe remains the world’s second-largest market for CIS insulin after North America. FMI’s latest CIS insulin market projections further reveal that countries like Germany, France, and the UK will emerge as the most lucrative markets for CIS insulin across Europe during the forecast period.
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Increased spending on healthcare and advancements in healthcare infrastructure will continue to hold a positive influence on CIS insulin market growth
As per Future Market Insights, the global demand for the CIS Insulin market is anticipated to grow at a CAGR of 2.7% during the forecast period between 2022 and 2032, in comparison to a 2.2% CAGR registered from 2015 to 2021.
Growth in the CIS insulin market is driven by it the increasing prevalence of diabetes patients and changing lifestyles and eating habits resulting in health disorders such as obesity and other metabolic diseases, surging investments in R&D, innovations in insulin products, and a rise in CIS insulin applications for type I and type II diabetes.
Similarly, increasing government initiatives and investments to provide for high-quality diagnosis, particularly across developed nations like the United States, United Kingdom, and China will expand the CIS insulin market size during the forthcoming years.
According to the World Health Organization, about 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.5 million deaths are directly attributed to diabetes each year. Both the number of cases and the prevalence of diabetes have been steadily increasing over the past few decades.
Despite optimistic growth projection, the global CIS insulin market is facing various obstacles that are restraining its growth to some extent. Some of these factors include the adverse effect of insulin therapy like hypoglycemia and pain at the site of injection may impact the use among some individuals.
Also, other disadvantages such as weight gain, electrolyte imbalance, and, in rare cases, peripheral hyperinsulinemia, decreased compliance, and high nocturnal glucose levels also lower the growth of the CIS insulin market. Increasing incidence of insulin resistance, particularly among obese individuals may restrain the growth of the market.
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Initiatives to curb diabetes to drive the CIS Insulin Market in the USA
Over the years, CIS insulin sales have risen at a substantial pace across USA and the trend is likely to continue even during the forecast period, owing to the rapid surge in the number of diabetic people, due to the rising healthcare spending, favorable government initiatives, and presence of large number of CIS Insulin market players in the region.
North America is anticipated to lead the global CIS insulin market during the forecast period, with the USA expected to lead across the region. As per Future Market Insights, the market in the USA is likely to garner USD 257 Million while exhibiting a CAGR of 4.6% from 2022 to 2032.
North America is expected to hold a large share in the global CIS insulin market due to the presence of leading technological advancements in the healthcare sector and increasing expenditure on healthcare by governments. Similarly, with an increase in the number of hospitals and healthcare facilities with the advancements in technology, many new products are being introduced in the global CIS insulin market will boost sales to new heights.
For instance, Novo Nordisk launched its smart insulin pen which comes with inbuilt Bluetooth. The smart pen can record the dose of insulin and maintain timely logs. The best part about this pen is that it does not pain that much when compared to normal insulin pens.
Rapid technological advances in healthcare to boost the growth of the CIS insulin market in Europe
As per FMI, the CIS insulin market in Europe is poised to exhibit strong growth on the back of surging technologically advanced research & treatment platforms for the diagnosis of chronic diseases, expanding healthcare infrastructure, and advancement in IT healthcare organizations. Also, increasing awareness and greater spending on healthcare treatments and procedures. With such as acceleration in the healthcare industry, manufacturers of CIS insulin are focusing on leading economies to strengthen their market footprint globally.
The rapid technological development and extensive government initiatives for the production and the regulation of price increases will boost the growth of the CIS insulin market across Europe during the forthcoming period. Amongst all countries, the UK is slated to emerge as the most lucrative in Europe, expected to flourish at a 3.4% CAGR until 2032, reaching USD 33 Million.
Rapid Acting CIS Insulin to experience Maximum Uptake
Based on product type, rapid-acting CIS insulin is likely to account for maximum growth, growing at a 2.2% CAGR. As rapid-acting insulins work very quickly to minimize the rise in blood sugar after eating and their effect lasts for a couple of hours. This type of insulin is often used with longer-acting insulin for maintaining blood glucose for a longer period.
Rapid-acting insulin replaces the insulin that is normally produced by the body and by helping sugar move from the blood into other body tissues where it is used for energy inhibiting the liver from producing more sugar is another factor that makes them a preferred choice among physicians as well as patients. This will boost the demand for the segment in the forecasting period.
Treatment for Type I and other Diabetes to Contribute a Significant Portion to Market Growth
Based on application, FMI’s latest report on the CIS insulin market forecast Type I and Other Diabetes segment to grow at a CAGR of 2.1% during the assessment period. The increasing diagnosis rate of type I and other diabetes boost the growth of the segment.
According to the International Diabetic Federation around 10% of all people with diabetes have type 1 diabetes. All people with type 1 diabetes need to take insulin to control their blood glucose levels. Increasing the production of insulin in developed countries and various new products will boost the growth of the segment.
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Some of the leading cis insulin include Novo Nordisk, Sanofi, Eli Lilly, Bristol-Myers Squibb and Novartis among others. These key CIS Insulin providers are adopting various strategies such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc. to increase their sales and gain a competitive edge in the global CIS Insulin market.
| Report Attribute | Details |
|---|---|
| Growth Rate | 2.7% CAGR from 2022 to 2032 |
| Market Value for 2022 | USD 465 Million |
| Market Value for 2032 | USD 600 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | USD Million for Value |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Application, Source, Region |
| Regions Covered | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, France, UK, Italy, BENELUX, Nordics, China, Japan, South Korea, GCC, South Africa, Turkey |
| Key Companies Profiled | Sanofi; Eli Lilly; Bristol-Myers Squibb; Novartis; Takeda Pharmaceuticals; Boehringer Ingelheim; Biocon; Dongbao Enterprise Group Co. Ltd.; Merck KGaA; Oramed Pharmaceuticals Inc.; Halozyme Therapeutics; Wanbang Biopharma; Xinbai Pharmaceutical; Indrar; Farmak |
| Report Customization & Pricing | Available upon Request |
The global CIS insulin market is likely to reach USD 465 Million in 2022
As per FMI, the CIS insulin industry is expected to grow at a CAGR of 2.7% throughout the forecast period (2022-2032).
The global sales of CIS insulin systems are anticipated to total a valuation of USD 600 Million by 2032.
Some of the leading CIS insulin manufacturers include Novo Nordisk, Sanofi, Eli Lilly, Bristol-Myers Squibb, and Novartis
U.S will continue to remain the most lucrative market for CIS insulin accounting for the market value of USD 257Million 2032
Increasing technological advancement in the healthcare sector and an increase in the incidence of diabetes patients are some of the major factors shaping the growth of the CIS insulin market.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background 5. Key Success Factors 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Product Type 8.1. Rapid acting 8.2. Long acting 8.3. Premixed 8.4. Premixed analog 8.5. Short acting 8.6. Intermediate acting 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Application 9.1. Type I and Other Diabetes 9.2. Type II Diabetes 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Source 10.1. Human Recombinant Insulin 10.2. Analogs 11. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Asia Pacific 11.5. Middle East and Africa (MEA) 12. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 13. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 14. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032 15. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032 16. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032 17. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032 18. Market Structure Analysis 19. Competition Analysis 19.1. Novo Nordisk 19.2. Sanofi 19.3. Eli Lilly 19.4. Bristol-Myers Squibb 19.5. Novartis 19.6. Takeda Pharmaceuticals 19.7. Boehringer Ingelheim 19.8. Biocon 19.9. Dongbao Enterprise Group Co., Ltd. 19.10. Merck KGaA 19.11. Oramed Pharmaceuticals Inc. 19.12. Halozyme Therapeutics 19.13. Wanbang Biopharma 19.14. Xinbai Pharmaceutical 19.15. Gan & Lee Pharmaceutical 19.16. Indrar 19.17. Farmak 20. Assumptions and Acronyms Used 21. Research Methodology
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CIS Insulin Market
