Insulin is one of the most important hormones secreted in human body. Insulin opens the door for glucose to enter into blood cells. Insufficient production of insulin by human body leads to stockpiling of sugar in blood cells which causes diabetes. Growing ubiquity of diabetes all over the world is expected to drive the market. Health disorders such as obesity, due to changing lifestyles are also expected to fuel the growth of this market. Growing fast food industry in CIS region is expected to push the insulin market in this region for next six years. Diabetic patient are catered with external insulin supply. International Diabetes Federation has estimated the growth of diabetic patients from 366 million in 2011 to 552 million in 2030. This rapid growth of diabetic patients is expected to impact the growth of insulin market.Deeper market penetration of insulin products due to extensive commercialisation has also helped this market to grow. Various new insulin products are expected to hit the market during next six years and are also expected to fuel the market growth. The introduction of regulations in favour of insulin manufacturers in CIS region has encouraged various multinational companies to enter into CIS for establishing production units, which has significantly helped the market growth. Various subsidies given to local producers have helped this market to grow. Agreements between local governments and various local insulin producers such as Indar have reduced the market prices of insulin products which have ultimately helped this market to grow. CIS insulin market is in nascent stage and has a huge scope of growth. Increasing base of aged population and extensive R&D initiatives from insulin developers are also expected to stimulate the market growth for insulin in CIS region.
Dominant product segments studied in this report include long acting analog, rapid acting analog, premixed analog, intermediate insulin, short acting insulin and premixed insulin. Insulin acted analog dominated the total market share of insulin in CIS region in terms of revenue generated in 2013. High cost of long acting analogs contributed towards this revenue generation. Low cost biosimilars of insulin are expected to capture the CIS market in next six years. CIS insulin market was influenced by Lantus, a product of Sanofi Aventis, however its patent expiration in 2015 is expected to give a setback in market growth over the forecast period.
Product (on the basis of source) Insights
Various insulin products are derived from different sources. Insulin market can be categorized on the basis of source of product as human recombinant insulin and analogs. Analogs possess maximum market share in terms of revenue in 2013 due to deeper market penetration of various new products such as Tresiba by Novo Nordisk.
Major applications of insulin analysed in this report include type I and other diabetes and type II diabetes. Type I diabetes, historically recognised as insulin dependent diabetes or juvenile has acquired maximum market share in terms of revenue in 2013. Intensified use of insulin to treat type I diabetes as well as introduction of various new products in market has enabled this segment to grab maximum market share.
Key countries analysed in this study include Russia, Poland, Turkey, Ukraine, Uzbekistan, Belarus and Kazakhstan.Russiadominated the overall CIS insulin market in terms of revenue owing to the various subsidies provided by local government as these medicines are affordable to common patients in Russia. Russia is also expected to be the fastest growing market in CIS region. Various local governments provide monitory help for healthcare services to reduce the costs of drugs. Moreover, funds provided by government for development of bio similar drugs locally have fuelled the growth of this market.
The CIS insulin market is oligopolistic in nature. Major market players include Eli Lilly and Company, Novo Nordisk, Takeda Pharmaceuticals, Sanofi Aventis, Nanjing Xinbai Pharmaceutical Co. Ltd., Oramed Pharmaceuticals, Merck & Co. Inc., Boehringer Ingelheim and Biocon along with various local companies producing biosimilars such as Indrar and Farmak. More than half of the market share is captured by local producers.