Insulin glargine is a long-acting human insulin analog primarily used for the management of diabetes. It acts for 24 hours providing a steady supply of insulin in the body to maintain blood glucose levels within the target range. It is available as a clear solution for injection under the brand name Lantus and has the advantage of requiring only once daily administration resulting in improved patient adherence and compliance. The global insulin glargine market is estimated to be valued at US$ 1.68 Bn in 2024 and is expected to exhibit a CAGR of 19% over the forecast period of 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Rising Diabetes Cases
The key opportunity driving the growth of the insulin glargine market is the rising prevalence of diabetes globally. According to the International Diabetes Federation, around 537 million adults were living with diabetes in 2021 and the number is expected to rise to 643 million by 2030 and 783 million by 2045. Type 1 diabetes accounts for approximately 10% of all diabetes cases requiring lifelong insulin treatment such as insulin glargine for management. The increasing diabetes burden worldwide will significantly boost the demand for long-acting insulin analogs like Global Insulin Glargine Market Size during the forecast period.

Porter's Analysis

Threat of new entrants: The threat of new entrants in the insulin glargine market is low due to high manufacturing costs, patents held by existing players and stringent regulatory approvals.

Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of alternative treatment options. However, buyers have less influence over price due to unique benefits of insulin glargine.

Bargaining power of suppliers: The bargaining power of suppliers is low owing to availability of substitute raw materials and lack of differentiation in supplies.

Threat of new substitutes: The threat of substitutes is low as insulin glargine has high specificity and effectiveness in treating diabetes compared to other biosimilar substitutes.

Competitive rivalry: The competitive rivalry is high among existing players due to strong competitive pressure from regional and local players.

SWOT Analysis

Strength: Insulin glargine offers enhanced glycemic control and is long-acting in nature. Large patient pool of diabetes offers steady demand.
Weakness: High manufacturing cost makes insulin glargine unaffordable for many patients. Stringent regulations delay product approvals.
Opportunity: Emerging markets present high growth potential. Technological advancements help improve formulation and delivery methods.
Threats: Price erosion due to entry of biosimilars impacts revenue streams. Patent expiries allow market entry of low-cost generic versions.

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