Insulin is one of the most important hormones secreted by the human body. Insulin opens the door for glucose to enter blood cells. Insufficient production of insulin by the human body leads to stockpiling of sugar in blood cells which causes diabetes. The 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. The growing fast food industry in the CIS region is expected to push the insulin market in this region for the next six years. Diabetic patients are catered to 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 the insulin market. Deeper market penetration of insulin products due to extensive commercialization has also helped this market to grow. Various new insulin products are expected to hit the market during the next six years and are also expected to fuel the market growth. The introduction of regulations in favor of insulin manufacturers in the 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. The CIS insulin market is in the nascent stage and has a huge scope for growth. The increasing base of the aged population and extensive R&D initiatives from insulin developers are also expected to stimulate the market growth for insulin in the 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 the CIS region in terms of revenue generated in 2013. The high cost of long-acting analogs contributed to this revenue generation. Low-cost biosimilars of insulin are expected to capture the CIS market in the 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 to market growth over the forecast period.
Various insulin products are derived from different sources. The insulin market can be categorized on the basis of the source of the product as human recombinant insulin and analogs. Analogs possess the 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 analyzed in this report include type I and other diabetes and type II diabetes. Type I diabetes, historically recognized as insulin-dependent diabetes or juvenile has acquired the maximum market share in terms of revenue in 2013. Intensified use of insulin to treat type I diabetes and the introduction of various new products in the market have enabled this segment to grab maximum market share.
Key countries analyzed in this study include Russia, Poland, Turkey, Ukraine, Uzbekistan, Belarus, and Kazakhstan. Russia dominated the overall CIS insulin market in terms of revenue owing to the various subsidies provided by the local government as these medicines are affordable to common patients in Russia. Russia is also expected to be the fastest-growing market in the CIS region. Various local governments provide monitory help for healthcare services to reduce the costs of drugs. Moreover, funds provided by the government for the development of biosimilar 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.
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