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.
In depth research report on CIS Insulin Market
Further key findings from the study suggest:
·
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.
For the purpose of this study,
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
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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