The CIS Insulin Market is poised for steady growth in the coming decade, driven by the increasing prevalence of diabetes in the Commonwealth of Independent States (CIS) region. A recent analysis projects the market to reach US$600 million by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 2.7% from 2022. This growth comes on the heels of a solid foundation, with the market reaching US$465 million by 2022 and experiencing a year-on-year (YoY) growth rate of 2.2% in 2022 compared to 2021’s US$455 million.
The CIS insulin market is receiving support from governments throughout the globe, which will act as a catalyst for its further expansion in the years to come. With this support, the industry should continue to grow and become more profitable for stakeholders and investors.
The market’s trajectory is influenced by a surge in initiatives aimed at delivering high-quality diagnoses, intensifying the demand for CIS insulin. The increasing prevalence of diabetes, coupled with evolving lifestyles and dietary habits contributing to health issues like obesity and other metabolic diseases, is anticipated to be a key driver for market growth shortly.
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Key Takeaways from the CIS Insulin Market Study
- Global CIS Insulin Industry worth to grow 1.3x during the 2022-2032 period of assessment
- By product type, the rapid-acting segment is expected to record a 2.2% CAGR by 2032
- By application, the Type I and other diabetes segment to expand at a 2.1% growth rate during the forecast period
- The U.S market to garner US$ 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.
CIS Insulin Market Competitive Landscape
Eminent players in the Global CIS Insulin Industry include Novo Nordisk, Sanofi, Eli Lilly, Bristol-Myers Squibb, and Novartis among others. Recent key developments among players include:
- In June 2022– Lilly presented the new mechanism of action data and new analyses of Mounjaro™ (tripeptide) injection for the treatment of adults with type 2 diabetes at the American Diabetes Association’s®’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 a collaboration and license agreement to 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.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Global CIS Insulin Industry presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
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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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