Insulin Glargine Market by Companies, Applications, Industry Growth, Competitors Analysis, New Technology and Forecast by 2028
Insulin Glargine Market – Industry Trends and Forecast to 2028
Market Analysis and Insights of Global Insulin Glargine Market
Global insulin glargine market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 7,164.68 million by 2028 growing at a CAGR of 10.89% in the above-mentioned forecast period. The growing awareness amongst the physicians and patients regarding the benefits associated with the usage of insulin glargine has been directly impacting the growth of insulin glargine market.
Insulin glargine is long-acting basal insulin that is mainly given to diabetes patients daily to control blood sugar levels. Insulin glargine consists of microcrystals which slowly releases insulin and provides a long duration of action. It is man-made insulin which is normally produced by the body and helps in case of diabetes to remove sugar from the blood. It is also used to reduce the sugar-producing ability of the liver.
Growth in the diagnosis of diabetes and an increase in demand for insulin for diabetes patients is the main driving factor for the insulin glargine market. Increasing remunerate policies, awareness of health, and advancement in technology of insulin delivery devices is an opportunity for the insulin glargine market.
Higher cost of the products is the main challenge for the insulin glargine market. However, strict policies and regulations for the product approval and availability of substitutes is the main restraint in the growth of insulin glargine market during the forecast period of 2021-2028.
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