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Report ID: SQMIG35B2206
Report ID:
SQMIG35B2206 |
Region:
Global |
Published Date: May, 2024
Pages:
219
|
Tables:
90 |
Figures:
76
Global Insulin Biosimilars Market size was valued at USD 2.67 billion in 2022 and is poised to grow from USD 2.80 billion in 2023 to USD 4.07 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).
Insulin biosimilars are drugs or products that are like insulin but not identical and can never be termed as the exact copy of original protein. Growing incidence of diabetes is the prime aspect that is projected to boost sales of insulin biosimilars over the coming years. Increasing investments in diabetes R&D and growing need for diabetes management around the world are also slated to augment the demand for insulin biosimilars across the forecast period and beyond. New clinical trials being performed for novel insulin biosimilars are also helping market expansion. The patent expiry of original insulin products is also a key trend that is estimated to create new opportunities for insulin biosimilars market players in the future. However, stringent regulatory mandates and improper clinical acceptance of novel insulin biosimilars are estimated to be key restraints for the overall market development in the long run.
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Report ID: SQMIG35B2206