The global insulin biosimilar market accounted for USD 0.500 billion in 2023 and is expected to reach USD 2.25 billion by 2034 with a CAGR of 14.67% during the forecast period 2024-2034. The market will grow due to factors such as the rising prevalence of diabetes, government policies that encourage the adoption of biosimilars, technological advancements, market expansion in emerging economies, and an increasing emphasis on patient self-management.
The creation and manufacture of biosimilars have been enhanced by technological developments in biotechnology and manufacturing techniques. These developments allow producers to produce superior insulin biosimilars that are on par with original medicines. For instance, the European Medicines Agency (EMA) approved Biocon's insulin glargine biosimilar, Semglee®, in September 2023 for the treatment of diabetes.
By type of insulin, the long-acting insulin analogs segment accounted for the highest revenue-grossing segment in the global insulin biosimilar market in 2023 owing to the increasing prevalence of diabetes and the growing demand for convenient, once-daily dosing options. For instance, Sanofi stated in January 2024 that a phase 3 clinical trial for individuals with type 2 diabetes will be starting in January 2024 for their investigational insulin biosimilar, SAR342434. Additionally, the rapid-acting insulin analogs segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for effective postprandial glucose control and the rising adoption of insulin pumps.
By mode of administration, the injectable pens segment accounted for the highest revenue-grossing segment in the global insulin biosimilar market in 2023 owing to their ease of use, convenience, and improved patient adherence. For instance, Novo Nordisk's insulin aspart biosimilar, Fiasp®, was approved by the U.S. Food and Drug Administration (FDA) in November 2023 for the treatment of diabetes. Additionally, the insulin pump segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of advanced diabetes management technologies and the rising demand for precise insulin delivery systems.
By therapeutic application, the type 2 diabetes segment accounted for the highest revenue-grossing segment in the global insulin biosimilar market in 2023 owing to the high prevalence of the disease and the large patient population requiring insulin therapy. For instance, Pfizer reported encouraging findings in October 2023 from a phase 3 study assessing PF-06881894, its insulin lispro biosimilar candidate, in type 1 diabetic patients. Additionally, the type 1 diabetes segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of autoimmune diabetes and the rising demand for insulin therapy among patients with this condition.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global insulin biosimilar market in 2023 owing to the high volume of insulin prescriptions and the centralized distribution of medications within hospital settings. For instance, in September 2023, Mylan stated that, with Health Canada's clearance, it would be launching its insulin glargine biosimilar, Semglee®, in Canada. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend of e-commerce in healthcare, the convenience of doorstep delivery, and expanding internet penetration worldwide.
North American region is anticipated to have the highest revenue share during the forecast period owing to its well-established healthcare infrastructure, high adoption rate of advanced medical technologies, and increasing prevalence of diabetes in the population. Additionally, the Asia Pacific region is estimated to grow at the fastest CAGR during the forecast period owing to the rising awareness about diabetes management, improving healthcare infrastructure, and increasing disposable income levels in emerging economies. For instance, Teva reported encouraging findings in May 2023 from a phase 3 study assessing TV-505, its insulin detemir biosimilar candidate, in individuals with type 2 diabetes.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The creation and manufacture of biosimilars have been enhanced by technological developments in biotechnology and manufacturing techniques. These developments allow producers to produce superior insulin biosimilars that are on par with original medicines. For instance, the European Medicines Agency (EMA) approved Biocon's insulin glargine biosimilar, Semglee®, in September 2023 for the treatment of diabetes.
By type of insulin, the long-acting insulin analogs segment accounted for the highest revenue-grossing segment in the global insulin biosimilar market in 2023 owing to the increasing prevalence of diabetes and the growing demand for convenient, once-daily dosing options. For instance, Sanofi stated in January 2024 that a phase 3 clinical trial for individuals with type 2 diabetes will be starting in January 2024 for their investigational insulin biosimilar, SAR342434. Additionally, the rapid-acting insulin analogs segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for effective postprandial glucose control and the rising adoption of insulin pumps.
By mode of administration, the injectable pens segment accounted for the highest revenue-grossing segment in the global insulin biosimilar market in 2023 owing to their ease of use, convenience, and improved patient adherence. For instance, Novo Nordisk's insulin aspart biosimilar, Fiasp®, was approved by the U.S. Food and Drug Administration (FDA) in November 2023 for the treatment of diabetes. Additionally, the insulin pump segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of advanced diabetes management technologies and the rising demand for precise insulin delivery systems.
By therapeutic application, the type 2 diabetes segment accounted for the highest revenue-grossing segment in the global insulin biosimilar market in 2023 owing to the high prevalence of the disease and the large patient population requiring insulin therapy. For instance, Pfizer reported encouraging findings in October 2023 from a phase 3 study assessing PF-06881894, its insulin lispro biosimilar candidate, in type 1 diabetic patients. Additionally, the type 1 diabetes segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of autoimmune diabetes and the rising demand for insulin therapy among patients with this condition.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global insulin biosimilar market in 2023 owing to the high volume of insulin prescriptions and the centralized distribution of medications within hospital settings. For instance, in September 2023, Mylan stated that, with Health Canada's clearance, it would be launching its insulin glargine biosimilar, Semglee®, in Canada. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend of e-commerce in healthcare, the convenience of doorstep delivery, and expanding internet penetration worldwide.
North American region is anticipated to have the highest revenue share during the forecast period owing to its well-established healthcare infrastructure, high adoption rate of advanced medical technologies, and increasing prevalence of diabetes in the population. Additionally, the Asia Pacific region is estimated to grow at the fastest CAGR during the forecast period owing to the rising awareness about diabetes management, improving healthcare infrastructure, and increasing disposable income levels in emerging economies. For instance, Teva reported encouraging findings in May 2023 from a phase 3 study assessing TV-505, its insulin detemir biosimilar candidate, in individuals with type 2 diabetes.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Type of Insulin, Mode of Administration, Therapeutic Application, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement
Segmentation: Insulin Biosimilar Market Report 2023 - 2034
Insulin Biosimilar Market Analysis & Forecast by Type of Insulin 2023 - 2034 (Revenue USD Bn)
- Rapid-Acting Insulin Analogs
- Short-Acting Insulin
- Intermediate-Acting Insulin
- Long-Acting Insulin Analogs
Insulin Biosimilar Market Analysis & Forecast by Mode of Administration 2023 - 2034 (Revenue USD Bn)
- Injectable Pens
- Insulin Syringes
- Insulin Pumps
Insulin Biosimilar Market Analysis & Forecast by Therapeutic Application 2023 - 2034 (Revenue USD Bn)
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
- Insulin Resistance Syndrome
Insulin Biosimilar Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Insulin Biosimilar Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Insulin Biosimilar Market: Type of Insulin Estimates & Trend Analysis
8. Insulin Biosimilar Market: Mode of Administration Estimates & Trend Analysis
9. Insulin Biosimilar Market: Therapeutic Application Estimates & Trend Analysis
10. Insulin Biosimilar Market: Distribution Channel Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Insulin Biosimilar Market
13. Europe Global Insulin Biosimilar Market
14. Asia Pacific Global Insulin Biosimilar Market
15. Latin America Global Insulin Biosimilar Market
16. MEA Global Insulin Biosimilar Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Biocon Ltd.
- Sanofi
- Eli Lilly and Company
- Novo Nordisk A/S
- Merck & Co. Inc.
- Pfizer Inc.
- Mylan N.V.
- Boehringer Ingelheim International GmbH
- Adocia
- Gan & Lee Pharmaceuticals
- Wockhardt Ltd.
- Ypsomed Holding AG
- Lupin Limited
- Teva Pharmaceutical Industries Ltd.
- Sanofi-Aventis Deutschland GmbH.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 0.5 Billion |
| Forecasted Market Value ( USD | $ 2.25 Billion |
| Compound Annual Growth Rate | 14.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
