By 2022, the global CIS insulin market is anticipated to be worth US$ 465 million. A rising number of diabetic individuals is expected to drive up demand for CIS insulin. The market is expected to increase at a CAGR of 2.7% between 2022 and 2032, totaling roughly US$ 600 million by the end of 2032. The market was valued at US$ 455 million in 2021, with a 2.2% year-on-year growth rate in 2022.
The global CIS insulin market is estimated to garner US$ 600 Million while exhibiting a 2.7% CAGR during the forecast period. The growing support from several governments is likely to fuel market growth in the coming years. The industry is expected to secure US$ 465 Million in 2022. From 2015 to 2021, CIS insulin sales grew at a CAGR of 2.2% to be valued at US$ 455 Million.
Increasing initiatives to provide high-quality diagnoses increases the demand for the market. The rising prevalence of diabetes patients and changing lifestyles and eating habits resulting in health disorders such as obesity and other metabolic diseases this in turn is anticipated to foster market growth in the near future.
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Also, the adverse effect of insulin therapy like hypoglycemia and pain at the site of injection may impact the use among some individuals are some of the prominent factors anticipated to hinder the market’s growth during the forecast period.
Key Takeaways from the Market Study:
CIS insulin market worth to grow 1.3x during the 2022-2032 period of assessment
By product type, the rapid-acting segment is expected to record a 2.2% CAGR by 2032
By application, the Type I and other diabetes segment to expand at a 2.1% growth rate during the forecast period
The U.S market to garner US$ 257 Million and record a 4.6% CAGR from 2022-2032
Market in China to procure US$ 50 Million, expanding at a 4.5% growth rate during the assessment period
“With a rising global incidence of diabetes, healthcare practitioners are extensively leveraging diagnostics and treatment technologies aimed at providing maximum relief to patients. This has widened prospects for CBD insulin products,” remarks an FMI analyst.
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Competitive Landscape:
Eminent players of the global CIS insulin market include Novo Nordisk, Sanofi, Eli Lilly, Bristol-Myers Squibb and Novartis among others. Recent key developments among players include:
In June 2022- Lilly presents the new mechanism of action data and new analyses of of Mounjaro™ (tirzepatide) injection for the treatment of adults with type 2 diabetes at the American Diabetes Association’s® 82nd Scientific Sessions.
In November 2021 – Novo Nordisk announced the acquisition of Dicerna Pharmaceuticals (Dicerna). to discover and develop RNAi therapies using Dicerna’s proprietary GalXC™ RNAi platform technology.
In February 2022 – Novartis India Limited (NIL) today announced an exclusive sales and distribution agreement with Dr. Reddy’s Laboratories (Dr. Reddy’s) for a few of its Established Medicines which includes the Voveran range, the Calcium range and Methergine.
In January 2022- Bristol Myers Squibb and Century Therapeutics announced collaboration and license agreement develop and commercialize up to four induced pluripotent stem cell (“iPSC”) derived, engineered natural killer cell (“iNK”) and / or T cell (“iT”) programs for hematologic malignancies and solid tumors.
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More Valuable Insights:
Future Market Insights, in its new offering, presents an unbiased analysis of the global CIS insulin market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Product (Rapid Acting, Long Acting, Premixed, Premixed Analog, Short-Acting, Intermediate-Acting) by Application (Type I and other diabetes, Type II diabetes) by Source (Human Recombinant Insulin, Analogs) and Region (North America, Latin America Europe, APAC, and Middle East & Africa)
Key Segments Profiled in the CIS Insulin Industry Survey
CIS Insulin Market by Product Type:
Rapid Acting CIS Insulin
Long Acting CIS Insulin
Premixed CIS Insulin
Premixed Analog CIS Insulin
Short-Acting CIS Insulin
Intermediate-Acting CIS Insulin
CIS Insulin Market by Application:
CIS Insulin for treating Type I and Other Diabetes
CIS Insulin for treating Type II Diabetes
CIS Insulin Market by Source:
Human Recombinant CIS Insulin
Analogs-based CIS Insulin
CIS Insulin Market by Region:
North America CIS Insulin Market
Latin America CIS Insulin Market
Europe CIS Insulin Market
Asia & Pacific CIS Insulin Market
Middle East & Africa (MEA) CIS Insulin Market
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