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Insulin Lispro is a fast-acting insulin analog used for treatment of people with diabetes mellitus to control high blood sugar. It is biosimilar to natural human insulin but is rapid-acting and short-lasting. Insulin Lispro can be injected just before eating, as it starts lowering blood glucose levels within approximately 15 minutes of administration and has its lowest effect about four hours after administration. Insulin Lispro is manufactured using recombinant DNA technology, as synthesized by genetically engineered E. coli bacteria cells. It helps people with diabetes manage their blood glucose levels and maintain a steady supply of insulin in their body. The global insulin lispro market has seen rising demand owing to increasing prevalence of diabetes, rising awareness about diabetes management, health risks associated with uncontrolled blood sugar levels, side effects of conventional insulin therapies, and enhanced monitoring with better diagnostics.
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 Dynamics:
The global insulin lispro market is majorly driven by the rise in diabetic population worldwide. According to the International Diabetes Federation, in 2021, approximately 537 million adults were living with diabetes and this number is estimated to rise to 643 million by 2030 and 783 million by 2045. Approximately 1 in 10 adults has diabetes globally. This large diabetic population presents huge potential customer base for insulin therapies. Another major driver for this market is the fast onset and short duration of action of insulin lispro which allows it to be more flexible and effective than conventional insulins for diabetes management. Being short-acting, insulin lispro is commonly used before meals to better mimic natural insulin response and control post-prandial hyperglycemia. Its rapid effect helps diabetic patients on multiple daily injections of insulin therapy or continuous subcutaneous insulin infusion via insulin pump. The enhanced efficacy and suitability of insulin lispro over conventional diabetes treatments is expected to significantly drive growth of the global insulin lispro market over the forecast period.
Segment Analysis
The global insulin lispro market is dominated by the prefilled insulin pen sub segment. Prefilled insulin pens are easy to carry and use making them a preferred choice for insulin lispro therapy. Prefilled insulin pens eliminate the need for separate insulin bottles, syringes and vials. This reduces the hassle of assembling the insulin injection before each use. Prefilled insulin pens also improve dosing accuracy leading to better diabetes management.
PEST Analysis
Political: Governments worldwide are supporting initiatives to increase access to affordable insulin therapy. They are rolling out diabetes management programs and healthcare coverage policies.
Economic: Rising diabetes prevalence driven by obesity, sedentary lifestyle and aging populations is propelling the demand and growth of the insulin lispro market. However, high treatment costs can be a challenge for patients in price sensitive markets.
Social: Growing health awareness and focus on preventive healthcare is encouraging insulin therapy compliance. However, social stigma still exists around insulin dependence.
Technological: Advances in insulin pen technologies like smart connectivity features and digital record keeping are improving diabetes monitoring and management. This is boosting preference for technologically advanced insulin pens.
Key Takeaways
The global insulin lispro market is expected to witness high growth over the forecast period of 2023 to 2030 supported by the rising global diabetes burden.
Regional analysis: North America dominated the insulin lispro market in 2023 owing to the presence of major players, stringent regulatory framework, high healthcare spending and growing cases of diabetes.
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 led the market with its Humalog brand of insulin lispro in 2023.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
