April 20, 2024

Insulin Lispro Market is driven by increasing prevalence of diabetes

Insulin lispro is a fast-acting insulin analogue used for controlling high blood sugar levels in patients with diabetes. It works by stimulating the body’s cells to take up glucose from the blood and store it. Insulin lispro provides rapid control of blood glucose levels by reducing glucose production in the liver and facilitating glucose uptake into peripheral tissues such as muscle and fat cells. It offers a faster onset of action compared to regular human insulin, typically within 5-15 minutes after administration. This helps patients more closely match the action of insulin to the metabolism of carbohydrates.

The global insulin lispro market is estimated to be valued at US$ 7.32 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends
Increasing prevalence of diabetes: One of the key factors driving growth of the global insulin lispro market is the rising prevalence of diabetes globally. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide and this number is expected to rise to 643 million by 2030 and 783 million by 2045. Higher insulin lispro adoption rates among diabetic patients in developed regions including North America and Europe are further propelling market growth.

Porter’s Analysis
Threat of new entrants: Low entry barriers explain pharmaceutical industry is well established. Bargaining power of buyers: Buyers have high bargaining power explained by presence of many suppliers. Bargaining power of suppliers: Suppliers have low bargaining power due to presence of many ingredient manufacturers. Threat of new substitutes: Threat of new substitutes is moderate with growing innovation. Competitive rivalry: Intense competition exists among key players.

Key Takeaways

The global Insulin Lispro market is expected to witness high growth.

Regional analysis: The North America region dominates the Insulin Lispro market currently due to growing diabetic population and increasing demand. Europe follows North America in terms of market share due to well established healthcare infrastructure. Asia Pacific region is expected to witness fastest growth over the forecast period supported by increasing healthcare spending.

Key players operating in the Insulin Lispro market are Eli Lilly and Company, Sanofi, Novo Nordisk A/S, Merck & Co., Inc., Pfizer Inc., Hoffmann-La Roche Ltd., AstraZeneca PLC, Johnson & Johnson Services, Inc., Biocon Limited, Mylan N.V., Boehringer Ingelheim International GmbH, Wockhardt Ltd., Lupin Pharmaceuticals, Inc., Bioton S.A., Gan & Lee Pharmaceuticals and Ypsomed AG. Eli Lilly and Company dominates the global market supported by extensive R&D and continual innovation.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it