Insulin Biosimilars Market Share Statistics, Trends, Segmentation Analysis and Forecast to 2027
Insulin Biosimilars Market 2021 According to MRFR analysis, the Global Insulin Biosimilars Market is expected to register a CAGR of 5.4% during the forecast period of 2020 to 2027 to reach USD 3.3 Billion by 2027 . A disease in which the body’s ability to produce or respond to the hormone insulin is impaired, resulting in abnormal metabolism of carbohydrates and elevated levels of glucose in the blood is termed as diabetes. Biosimilar insulin is designed to be highly similar to the original, or reference, insulin product described in a patent. As patents for major branded insulin products start to expire, a number of biosimilar insulin are expected to launch in the coming years. The USFDA approved new insulin glargine Basaglar, for type 1 and type 2 diabetes which is a biosimilar version of Sanofi’s basal insulin Lantus (insulin glargine). Additionally, Lilly and Boehringer Ingelheim’s biosimilar insulin glargine has got approval through the European Medicines Agency’s (EMA’s)