United Sates Insulin Market Offers Opportunity To Launch New Biosimilar Products Driven By Patent Expiry & Favorable Policy Framework In Recent Years Says Kuick Research
Delhi, March 29, 2022 (GLOBE NEWSWIRE) — “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
- Approved Biosimilar Insulin: 2 (Semglee & Rezvoglar)
- US Biosimilar Insulin Market Cost Comparison Analysis
- First FDA Approved Interchangeable Biosimilar Insulin Cost & Dosage Insight
Download Report: https://www.kuickresearch.com/report-us-usa-united-states-biosimillar-inslin-fda-approved-semglee-glargine-interchangeable-biosimillar-market-sales-size-clinical-trials-mylan-pharmaceuticals
In last few decades, biological drugs have gained considerable momentum in market. Biological drugs have been widely used in the management of chronic conditions including diabetes, autoimmune disorders as well as cancers. The emergence of these drugs has shown to significantly improve the survival rates in patients but is associated with high price tags, which limits their adoption in market. By offering more affordable alternatives, biosimilar medicines are considered a promising solution to very high-priced biological drugs which enter the market after the patent expiration of branded drug.
Biosimilars are biological medicine highly similar to another biological medicine already approved in terms of structure, biological activity and efficacy, safety and immunogenicity profile. However, these drugs are priced 15%-30% lower than the originator drug. Thus, biosimilar create economic competition to expand patient access. The development of these drugs does not require extensive research and testing which saves both money and time, thereby lowering the costs. In addition to this, the development of biosimilar increases competition among pharmaceutical companies to increase their revenue in market. Biosimilar insulins are made in such a way that it remains extremely similar to the original product.
In July 2021, US FDA has approved the first interchangeable biosimilar insulin product, indicated to improve glycemic control in adults and pediatric patients with Type 1 diabetes mellitus and in adults with Type 2 diabetes mellitus. Semglee is both biosimilar to, and interchangeable with its reference product Lantus (insulin glargine), a long-acting insulin analog. The biosimilar Semglee will be manufactured by Biocon Biologics Ltd., a subsidiary of Biocon, and marketed by its partner Viatris Inc. Later in December 2021, FDA approved Rezvoglar a second biosimilar to Sanofi’s insulin glargine, to improve glycemic response in children and adults with type 1 diabetes and adults with type 2 diabetes. Rezvoglar developed by Eli Lilly is not an interchangeable biosimilar product, which may be substituted for the reference product without the intervention of the prescriber.
The US insulin biosimilar market is expected to register high growth rates in the market. The pharmaceutical companies are increasingly investing in research and development to produce new insulin biosimilars. The companies are exploiting growth potential of rising biosimilar market by investing in their research and development processes to support the research and production process of new biosimilars. In US, several pharmaceutical companies including Amgen, Roche, Celltrion, Pfizer, Teva Pharmaceuticals and other continuously indulge in research and development activities for boosting the biosimilar market in the region.
As per our report findings, US insulin biosimilar market will surpass US$ 1 Billion by 2026. The major factor responsible for surging the demand for biosimilars insulin in the market is increase in diagnosed and undiagnosed diabetes, patent expiry for insulin, growing population. Increasing poverty level in developing countries like US has created a pressure on the healthcare industry to develop cost effective products and treatment options especially for diabetes patients. Expanding pool of geriatric population with arthritis and growing demand for fast acting insulin analogues is another booster for the market. Increased investment by government agencies on the research and development activities pertaining to insulin biosimilars is providing ample scope of development for the market.
Our report provides in-depth analysis on the available insulim biosimilar in US market along with their pricing, dosage, and sales insights. This market report provides a thorough analysis of various factors such as the drivers and restraints that will impact the market’s growth. It includes the competitive landscape, recent industry developments that involve the strategies, new launches, and several other insights of leading players that will contribute to the market’s growth.
CONTACT: Contact: Neeraj Chawla Research Head Kuick Research email@example.com +91-9810410366
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