The CIS market for insulin and insulin
products is expected to reach USD 3,008.5 million by 2020 growing at a
CAGR of 15.0%, according to a new study by Grand View Research, Inc. The
presence of an extensive pipeline portfolio of products exhibiting
higher efficacies and their subsequent commercialization over the next six years is expected to serve this market as a high impact rendering driver. The introduction of government initiatives aimed at improving
the affordability of insulin via price reduction, such as the
collaboration between the government of Ukraine and Indar to reduce the
price of insulin by 20% in 2013 is expected to have positive influence
on demand. Some of the other drivers of this market include increasing
attempts made by manufacturers to capitalize on the untapped
opportunities by opening new manufacturing units to improve the supply
of insulin and growing incidence rates of type II diabetes are some of
the factors expected to fuel future market growth.
The report “CIS Insulin Market (Rapid
Acting, Short Acting, Pre-Mixed, Long Acting, Type I & II Diabetes,
Analogs, Recombinant Insulin) Analysis And Segment Forecasts To 2020,”
is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/cis-insulin-market
Further key findings from the study suggest:
• Regionally, Russia occupied the
largest share of the market, accounting for 69.2% of the revenue. Its
large share is majorly attributed by the subsidies that Russian
government provides to make insulin more affordable for patients.
• Ukraine is expected to register the fastest CAGR of 15.6% during the forecast period due to the presence of high untapped opportunities and encouraging government initiatives.
• In addition, Poland is expected to grow at a lucrative rate during the forecast period majorly owing to the presence of high diabetes prevalence coupled with increasing healthcare expenditures.
• Long acting insulin accounted for the largest share of the market, at over 39.0% in 2013, owing to the higher preference given to long acting insulin therapy for diabetes which results in lesser episodes of low blood sugar. It is also expected that this product segment will grow at the fastest CAGR of over 18.0% during the next six years.
• Application of insulin for control of type II diabetes occupied for over 90.0% of the market owing to the presence of larger portfolio of products catering to this segment and a relatively larger prevalence base
• Analogs accounted for over 80.0% of the revenue owing to their relatively higher prices and better efficacy levels. In addition, this segment is expected to exhibit the fastest CAGR during the forecast period on account of the introduction of technologically advanced products such as ultra-long and ultra-fast acting analogs.
• Ukraine is expected to register the fastest CAGR of 15.6% during the forecast period due to the presence of high untapped opportunities and encouraging government initiatives.
• In addition, Poland is expected to grow at a lucrative rate during the forecast period majorly owing to the presence of high diabetes prevalence coupled with increasing healthcare expenditures.
• Long acting insulin accounted for the largest share of the market, at over 39.0% in 2013, owing to the higher preference given to long acting insulin therapy for diabetes which results in lesser episodes of low blood sugar. It is also expected that this product segment will grow at the fastest CAGR of over 18.0% during the next six years.
• Application of insulin for control of type II diabetes occupied for over 90.0% of the market owing to the presence of larger portfolio of products catering to this segment and a relatively larger prevalence base
• Analogs accounted for over 80.0% of the revenue owing to their relatively higher prices and better efficacy levels. In addition, this segment is expected to exhibit the fastest CAGR during the forecast period on account of the introduction of technologically advanced products such as ultra-long and ultra-fast acting analogs.
For the purpose of this study, Grand
View Research has segmented the CIS Insulin market on the basis of
product, application, source and region:
• CIS Insulin Product Outlook
• Rapid Acting
• Long Acting
• Premixed
• Premixed Analog
• Short Acting
• Intermediate Acting
• CIS Insulin Application Outlook
• Type II Diabetes
• Type I Diabetes
• CIS Insulin Source Outlook
• Human Recombinant
• Analogs
• CIS Insulin Regional Outlook
• Russia
• Poland
• Turkey
• Ukraine
• Uzbekistan
• Belarus
• Kazakhstan
• Rest of CIS
About Grand View Research
• Rapid Acting
• Long Acting
• Premixed
• Premixed Analog
• Short Acting
• Intermediate Acting
• CIS Insulin Application Outlook
• Type II Diabetes
• Type I Diabetes
• CIS Insulin Source Outlook
• Human Recombinant
• Analogs
• CIS Insulin Regional Outlook
• Russia
• Poland
• Turkey
• Ukraine
• Uzbekistan
• Belarus
• Kazakhstan
• Rest of CIS
About Grand View Research
Grand View Research, Inc. is a market
research and consulting company that provides off-the-shelf, customized
research reports and consulting services. To help clients make informed
business decisions,
we offer market intelligence studies ensuring relevant and fact-based
research across a range of industries, from technology to chemicals,
materials and energy. With a deep-seated understanding of varied
business environments, Grand View Research provides strategic objective
insights. For more information, visit http://www.grandviewresearch.com/
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone:
1-415-349-0058
Email: sales@grandviewresearch.com
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone:
1-415-349-0058Email: sales@grandviewresearch.com
