The global CIS insulin market is poised for significant growth, with projections indicating a rise to USD 465 million by 2022 and an estimated CAGR of 2.7% from 2022 to 2032. According to recent market analysis, the sector was valued at USD 455 million in 2021, reflecting a year-on-year growth rate of 2.2% in 2022.
The escalating prevalence of diabetes worldwide is a key driver fueling demand for CIS insulin, underscoring the market’s expansion. As diabetic patient numbers continue to climb, the need for effective treatment options remains critical, positioning CIS insulin as a pivotal component in diabetes management strategies globally.
Looking ahead, market experts anticipate sustained growth, forecasting a robust trajectory that could culminate in a market size nearing USD 600 million by the conclusion of 2032. This growth trajectory underscores the market’s resilience and potential, buoyed by ongoing advancements in diabetes care and rising healthcare investments globally.
Increasing initiatives to provide high-quality diagnoses increase 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 the market growth in the near future.
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.
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 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.
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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