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Global Insulin Drugs Industry Forecasts 2020-2030 - Novo Nordisk's 2020 Diabetes Pill Expected to Generate About $5 Billion in Annual Sales
DUBLIN, Feb. 7, 2020 /PRNewswire/ -- The "Insulin Drugs Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global insulin drugs market was valued at about $25.44 billion in 2019 and is expected to grow to $29.39 billion at a CAGR of 7% through 2023. Major players in the market are Apidra, Eli Lilly, Humalog, Humulin, Insuman, Lantus, Levemir, Novo Nordisk, Novomix, NovoRapid/Novolog.
Changing lifestyles are leading to a higher prevalence of diabetes. This is expected to drive the demand for diabetes drugs during the forecast period. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of diabetes. According to a study conducted in 2018, there was a high prevalence of diabetes in people with sedentary lifestyles.
Additionally, people suffering from obesity are up to 80 times more likely to develop type 2 diabetes. According to a World Health Organization (WHO) report, 74% of men and 64% of women in the UK, for instance, are expected to be overweight by 2030. These factors are expected to increase the patient pool of diabetes, thereby likely to drive the diabetes therapies market during the forecast period.
High costs and long payback periods for investment in new diabetes drugs negatively impacted the market during the historic period. The costs for drug approval processes that include multiple phases of clinical trials and screening processes with regulatory bodies such as the US FDA are very high.
According to the Tufts Center for the Study of Drug Development, the cost of bringing a new drug from its conception to shelves was about $2.7 billion in 2017, a significant increase from $320 million in the 1990s. These high costs and uncertainty regarding return on investments for drug development limited the investments by pharmaceutical companies in the development of new diabetic drugs, thus limiting the growth of the market during the historic period.
There is an increased trend of mergers and acquisitions for the new formulations in Insulin market and the companies are investing in development of new medicines in Insulin drugs market. For example, in December 2016, researchers at Lund University Diabetes Centre in Sweden, worked on CRISPR, a genome modification tool. This resulted in turning off of one of the genes which was responsible for causing diabetes. This effectively decreased beta cell death and increased insulin production in the pancreas.
Insulin maker, Novo Nordisk has developed a diabetes pill and it is expected to be launched in 2020. This pill belongs to a blockbuster class of drugs, glucagon like peptide-1 (GLP-1s) that stimulate insulin production. The new drug is expected to generate about $5 billion in annual sales.
In August 2018, Novo Nordisk acquired Ziylo which is a University of Bristol spin-out company for an undisclosed amount in the UK. Novo Nordisk has full rights to Ziylo's glucose binding molecule platform to develop glucose responsive insulins. This development is a key strategic area for Novo Nordisk and should result in more effective insulin therapy.
Ziylo is a pharmaceutical Company that has developed Biomimetic Glucose Binding Molecules (GBM) for Continuous Glucose Monitors (CGM) & Glucose Responsive Insulins (GRI).
Key Topics Covered
1. Executive Summary
2. Insulin Drugs Market Characteristics
3. Insulin Drugs Market Size And Growth
3.1. Global Insulin Drugs Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Insulin Drugs Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Insulin Drugs Market Segmentation
4.1. Global Insulin Drugs Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Basal or Long Acting Insulins
- Bolus or Fast-Acting Insulins
- Traditional Human Insulins
- Combination Insulins
- Biosimilar Insulins
4.2. Global Insulin Drugs Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Type II Diabetes
- Type I Diabetes
- Gestational Diabetes
5. Insulin Drugs Market Regional And Country Analysis
5.1. Global Insulin Drugs Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Insulin Drugs Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Eli Lilly
- Novo Nordisk
For more information about this report visit https://www.researchandmarkets.com/r/5icksk
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