- In September 2023, Novo Nordisk announced a partnership with Aspen Pharmacare Holdings Limited and Aspen SA Operations (Pty) Ltd to establish human insulin production in South Africa. This collaboration aims to enhance local manufacturing capabilities, ensuring a more reliable supply of insulin to meet the growing demand in the region. By investing in local production, the partnership seeks to improve access to insulin therapies for patients in South Africa
- In November 2022, the U.S. FDA granted approval for Rezvoglar, marking it as the second interchangeable biosimilar of insulin glargine for diabetes patients. This approval aims to expand treatment options and enhance accessibility for individuals managing diabetes. By introducing Rezvoglar to the market, patients can benefit from a more affordable alternative while ensuring effective blood glucose control
- In April 2022, Biocon secured a three-year contract worth USD 90 million from the Ministry of Health in Malaysia for the supply of its recombinant human insulin, Insugen. This significant contract not only reinforces Biocon's presence in the Malaysian market but also highlights the company's commitment to enhancing access to essential diabetes treatments in emerging markets. By expanding its footprint in Malaysia, Biocon aims to meet the growing demand for insulin and improve patient outcomes in the region
- In February 2022, Biocon announced a strategic collaboration with Viatris Inc. to acquire Viatris's biosimilar business. This partnership aims to bolster Biocon's research and development efforts and enhance its manufacturing capabilities. By integrating Viatris's expertise, Biocon seeks to strengthen its position in the biosimilars market and accelerate the commercialization of innovative therapies
- In November 2021, Biocon partnered with the Research Society for the Study of Diabetes in India (RSSDI) to launch a comprehensive care program aimed at supporting patients with Type 1 diabetes. This initiative not only provides valuable resources and guidance for effective diabetes management but also reinforces Biocon's commitment to improving patient outcomes. By actively engaging in such initiatives, Biocon enhances its brand image and solidifies its presence in the diabetes care market.
Frequently Asked Questions
The market is segmented based on Segmentation, By Product Type (Intermediate Acting Insulin, Short Acting Insulin, Rapid Acting Insulin, and Long Acting Insulin), Source (Human Recombinant Insulin, and Insulin Analogs), Disease Type (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes, and Prediabetes), Delivery Devices (Syringes, Pens, Pumps, and Others), End Users (Home Healthcare, Hospitals, Over The Counter (OTC), Clinics, and Others) – Industry Trends and Forecast to 2031
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The Global Insulin Market size was valued at USD 19.97 USD Billion in 2023.
The Global Insulin Market is projected to grow at a CAGR of 3.9% during the forecast period of 2024 to 2031.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America..
