The Future of CIS Insulin….. COVID-19 & Its Impact….


The CIS Insulin Market 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.
Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.
Insulin is one of the most important hormones secreted by the human body. Insulin opens the door for glucose to enter into blood cells. Insufficient production of insulin by human body leads to stockpiling of sugar in blood cells which cause diabetes. 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. Growing fast food industry in CIS region is expected to push the insulin market in this region for next six years. Diabetic patient are catered 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 insulin market.Deeper market penetration of insulin products due to extensive commercialisation has also helped this market to grow. Various new insulin products are expected to hit the market during next six years and are also expected to fuel the market growth. The introduction of regulations in favour of insulin manufacturers in 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. CIS insulin market is in the nascent stage and has a huge scope of growth. The increasing base of aged population and extensive R&D initiatives from insulin developers are also expected to stimulate the market growth for insulin in CIS region.    
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CIS Insulin Market Report Highlights
·         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.
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 CIS region in terms of revenue generated in 2013. The high cost of long-acting analogs contributed towards this revenue generation. Low-cost biosimilars of insulin are expected to capture the CIS market in 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. Insulin market can be categorized on the basis of 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 analysed in this report include type I and other diabetes and type II diabetes. Type I diabetes, historically recognised 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 as well as the introduction of various new products in the market has enabled this segment to grab maximum market share.
Key countries analysed 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 CIS region. Various local governments provide monitory help for healthcare services to reduce the costs of drugs. Moreover, funds provided by the government for development of bio similar drugs locally have fuelled the growth of this market.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/cis-insulin

CIS Insulin Market Segmentation

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
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, 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 healthcare.


                                                                                                                              




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