Dublin, Aug. 27, 2021 (GLOBE NEWSWIRE) -- The "US Biosimilar Insulin Market Opportunity & Clinical Trials Insight 2026" report has been added to ResearchAndMarkets.com's offering.
The US Insulin Biosimilar Market Report involves in-depth analysis of the various parameters related to this segment along with the analysis of current as well as future market opportunity.
The report also involves the comparative price analysis along with the clinical trends, market drivers and possible challenges related to US insulin biosimilar market. It is forecasted that the US insulin biosimilar market will overtake a major share of insulin market of US and the future of this segment is full of opportunities.
Over the past few years, the acceptance of Biosimilars in the US is increasing rapidly and patent expiration of leading drugs is also indicating the future potential of this segment. Biosimilars are the cheaper variant of a biological product, which is identical to the parent biologic product.
The biosimilar insulin is processed in a way that it almost mimics the action of the original insulin product. In US, the role of biosimilar insulin in diabetes management is currently at a nascent stage but this segment is believed to hold a major share in the US insulin market due to the presence of huge burden of diabetic population in this region while most of the market-related factors are also promoting the growth of this segment.
Previously, some of the products such as Basaglar and Admelog were approved as a biosimilars of insulin but FDA rejected the biosimilar designation as there are slight differences in the method of production. Therefore, FDA acts as a strict governing body for insulin biosimilars, which acts as a major reason for the restricted availability of insulin biosimilars in US
. Approval of Semglee as first interchangeable insulin biosimilar is believed to act as a revolutionary step for the US insulin biosimilar market, which simplifies the path of approval for other investigational biosimilars. During the next 4-5 years, new insulin biosimilars are expected to get approval in US, which took this market segment to the next level.
The respective field associated with US insulin biosimilars market has grown at an accelerated speed over the past few decades and is estimated to be represented as one of the most innovative and exciting approaches of the biomedical sector and biotech space, which will overtake major share of the insulin market.
In the past few years, the volume of research, publications and number of clinical trials have increased significantly for the field as patents of most of the leading insulin are about to get expire very soon. The biosimilars of insulin aspart and insulin lispro is most likely to get market authorisation by the end of year 2023 while some of the combinational insulins are also believed to get approval in US.
Further, low price of biosimilar insulin for diabetes treatment along with the therapeutic equivalent nature is believed to open new opportunities of growth of the US insulin biosimilar market. Along with this, the availability of several advanced delivery devices are also assisting the US biosimilar market and more innovative devices will enter the US market in near future for enabling less painful and self-delivery of insulin biosimilars.
Along with this, increased investment by government, as well as private sector on the research and development activities related to insulin biosimilars, is encouraging the pharmaceutical sector to work in this segment and provide ample scope of development for the market. The presence of leading pharmaceutical companies in US insulin biosimilar market is indicating towards the competition in this segment.
"US Biosimilar Insulin Market Opportunity & Clinical Trials Insight 2026" Report Highlights:
- US Diabetic Drug Market Opportunity: > US$ 35 Billion
- US Insulin Market Opportunity > US$ 10 Billion
- US Biosimilar Insulin Market Opportunity > US$ 1 Billion
- US Biosimilar Insulin Market Cost Comparison Analysis
- First FDA Approved Interchangeable Biosimilar Insulin Cost & Dosage Insight
Competitive Landscape
- Biocon
- Boehringer Ingelheim
- Eli Lily
- Gan & Lee Pharmaceuticals
- Harvest Moon Pharmaceuticals
- HEC Pharma
- Mylan
- Samsung Bioepis
- Sanofi
- Wockhardt
For more information about this report visit https://www.researchandmarkets.com/r/hbv27x
