Report : Asia-Pacific Insulin Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Long Acting Insulin, Rapid Acting Insulins, Short acting Insulins and Traditional Human Insulins, Concentrated Insulins and Combination Insulins, Biosimilar Insulins, Glucagon-like peptide-1 (GLP-1), Pens and Needles, and Others)   

At 12.7% CAGR, the APAC Insulin Market is speculated to be worth US$ 38,279.77 million by 2028, says Business Market Insights              

According to Business Market Insights’ research, the APAC insulin market was valued at US$ 7,288.17 million in 2022 and is expected to reach US$ 38,279.77 million by 2028, registering an annual growth rate of 12.7% from 2022 to 2028.  Insufficient competition from biosimilars and regeneration of diabetic pancreas with advanced transplants are the critical factors attributed to the market expansion.                

The dominance of the major players in developed countries such as the US has led to an increase in the global insulin market value. Novo Nordisk A/S, Elli Lily and Company, and Sanofi have a cumulative market revenue of over 90%. This is majorly credited to the evergreening of patents currently held by these dominating players. Moreover, patients' lack of trust in biosimilar drugs is a significant factor augmenting the insulin market growth. According to a study conducted by Health Action International (2019), states that Eli Lilly and Company, Novo Nordisk, and Sanofi are the only three manufacturers of insulin in the US, and they generate around 90% of revenue in the market.

On the contrary, risks associated with insulin delivery devices hurdles the growth of APAC insulin market.    

  • Based on type, the APAC insulin market is segmented into long acting insulin, rapid acting insulin, short acting insulin & traditional human insulin, concentrated insulin & combination insulin, biosimilar insulin, glucagon-like peptide-1 (GLP-1), pen & needle, and others. The long acting insulin segment held 27.2% market share in 2022, amassing US$ 1,983.84 million. It is projected to garner US$ 4,091.31 million by 2028 to expand at 12.8% CAGR during 2022–2028.  
  • Based on long acting insulin, the APAC insulin market is sub-segmented into levemir, lantus, basaglar, and tresiba. The tresiba segment held 49.3% market share in 2022, amassing US$ 977.89 million. It is projected to garner US$ 2,056.84 million by 2028 to expand at 13.2% CAGR during 2022–2028.
  • Based on rapid acting insulins the APAC insulin market is sub-segmented into novolog, humalog, admelog, and others. The humalog segment held 49.9% market share in 2022, amassing US$ 529.44 million. It is projected to garner US$ 1,088.49 million by 2028 to expand at 12.8% CAGR during 2022–2028.
  • Based on short acting insulin and traditional human insulin, the APAC insulin market is sub-segmented into Novolin R, Humalin R, Insuman, others. The insuman segment held 49.8% market share in 2022, amassing US$ 558.06 million. It is projected to garner US$ 1,070.25 million by 2028 to expand at 11.5% CAGR during 2022–2028.
  • Based on concentrated insulin and combination insulin, the APAC insulin market is sub-segmented into novomix, ryzodeg, xultophy, and soliqua/suliqua. The xultophy segment held 44.8% market share in 2022, amassing US$ 158.37 million. It is projected to garner US$ 335.41 million by 2028 to expand at 13.3% CAGR during 2022–2028.
  • Based on biosimilar insulin, the APAC insulin market is sub-segmented into insulin glargine biosimilars and human insulin biosimilars. The insulin glargine biosimilars segment held 68.6% market share in 2022, amassing US$ 399.36 million. It is projected to garner US$ 1,008.34 million by 2028 to expand at 16.7% CAGR during 2022–2028.
  • Based on country, the APAC insulin market is segmented into China, Japan, India, Australia, South Korea, and Rest of APAC. Our regional analysis states that China captured 29.3% market share in 2022. It was assessed at US$ 2,131.79 million in 2022 and is likely to hit US$ 4,323.97 million by 2028, exhibiting a CAGR of 12.5% during the forecast period.  

Key players dominating the APAC insulin market are Adocia; Biocon; Eli Lilly and Company; GlaxoSmithKline plc.; Merck & Co., Inc.; Novo Nordisk A/S; Pfizer Inc.; Sanofi; Tonghua Dongbao Pharmaceutical Co., Ltd.; and Wockhardt among others.  

  • In 2021, Adocia announced today that its partner Tonghua Dongbua Pharmaceutical Co. Ltd. received the clearance from the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA) to conduct the Phase 3 clinical trial of BioChaperone Lispro, and Ultra-Rapid Insulin for the treatment of Type 1 and Type 2 diabetes.
  • In 2020, Pfizer showcased Phase I data from a study assessing PF-06882961, an oral small molecule glucagon-like peptide - 1 receptor (GLP-1 R) agonist in type 2 diabetes patients that showed significant promise in the reduction of glucose levels and body weight.

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