Europe Insulin Drugs Industry Overview
|Study Period:||2018 - 2028|
|CAGR:||> 4 %|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Insulin Drugs Market Analysis
The European Insulin Drugs Market is expected to register a CAGR of more than 4% over the forecast period 2022-2027.
The COVID-19 pandemic has substantially impacted the European Insulin Drugs Market. Type-1 diabetes patients are impacted more during Covid-19. People with diabetes are having a weak immune system so, with COVID-19, the immune system gets weaker very fast. People with diabetes will have more chances to get into serious complications rather than normal people. The manufacturers have taken care during COVID-19 to deliver insulin products to diabetes patients with the help of local governments. Novo Nordisk stated on their website that “Since the start of COVID-19, our commitment to patients, our employees and the communities where we operate has remained unchanged, we continue to supply our medicines and devices to people living with diabetes and other serious chronic diseases, safeguard the health of our employees, and take actions to support doctors and nurses as they work to defeat COVID-19.” Doctors around the world suggested diabetes patients should check their diabetes levels more often to be careful and the intake of medicine has increased, which lead to an increase in the usage of insulin drugs.
According to the diabetes category, the estimated cost per hospital admission during the first wave of COVID-19 in Europe ranged from EUR 25,018 for type 2 diabetes patients in good glycemic control to EUR 57,244 for type 1 diabetes patients in poor glycemic control, reflecting a higher risk of intensive care, ventilator support, and a longer hospital stay. The estimated cost for patients without diabetes was EUR 16,993. The expected total direct expenditures for COVID-19 secondary care in Europe were 13.9 billion euros. Diabetes treatment thus accounted for 23.5% of total expenditures.
The European countries are suffering from the burden of high diabetes expenditure due to its rising prevalence. Approximately 10% of the total diabetes population is having type-1 diabetes and approximately out of this 10% of people only 80-90% use Insulin but the usage of insulin is rising from time to time, even type-2 diabetes patients are using the insulin drugs during COVID-19. Technological advancements have increased over the period in Insulin drugs.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Europe Insulin Drugs Industry Segments
The European Insulin Drugs Market is segmented into Type (Basal or Long-acting Insulins, Bolus or Fast-acting Insulins, Traditional Human Insulins, Combination Insulins, and Biosimilar Insulins), and Geography. The report offers the value (in USD million) for the above segments.
|Insulin (Value and Volume, 2016-2027)|
Europe Insulin Drugs Market Trends
This section covers the major market trends shaping the Europe Insulin Drugs Market according to our research experts:
Increasing diabetes prevalence
The diabetes population in the European region is expected to rise by more than 15% during the forecast period. According to the IDF 2021 report, about 1 in 11 adults have diabetes in Europe which accounts for approximately 61 million. The overall diabetes expenditure in Europe was USD 189 billion. These figures indicate that approximately 19.6% of global expenditure is spent on diabetes in Europe.
The European region had witnessed an alarming increase in the prevalence of diabetes, in recent years. Patients with diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as oral anti-diabetic medication or ingestion of additional carbohydrates by monitoring their blood glucose levels. The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of diabetic drugs.
According to the IDF, the overall diabetes expenditure in Europe among the population aged 20-79 years was USD 156 billion, and it is expected to increase to USD 174 billion by 2040. According to other statistics from IDF, every year 21,600 children are added to the type-1 diabetic population pool. These figures indicate that approximately 9% of the total healthcare expenditure is spent on diabetes in Europe.
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Germany is expected to register a healthy growth rate in the European Insulin Drugs Market
Germany is expected to register a CAGR of more than 2% in the forecast period.
Diabetes is a significant health problem and one of the astounding challenges for healthcare systems all over Germany. The prevalence of known type 1 & 2 diabetes in the German adult population is very high along with a high number of patients who are not yet diagnosed with the disease. Due to an aging population and unhealthy lifestyle, the prevalence of type 2 diabetes is expected to increase steadily over the next few years. High-quality care, including adequate monitoring, control of risk factors, and active self-management are the key factors for preventing complications in German patients with type 2 diabetes.
The growing incidence, prevalence, and progressive nature of the disease have encouraged the development of new drugs to provide additional treatment options for diabetic patients. According to the German Diabetes Centre (DDZ), at least 7.2% of the population in Germany currently lives with diabetes which will increase significantly over the next two decades. German law requires public plans to cap out-of-pocket health care costs and to cover all medically necessary treatment, including insulin. Germany is one of the developed countries and advanced in terms of healthcare facilities. Moreover, the reimbursement policy and the pricing policy are highly regulated, which drives the market. The roll-out of many new products, increasing international research collaborations in technology advancement, and increasing awareness about diabetes among the people are some of the market opportunities for the players in the German insulin drugs market.
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Europe Insulin Drugs Market Competitor Analysis
The European Insulin Drugs market is highly consolidated in nature due to the presence of only a few major companies operating globally as well as regionally. Mergers and acquisitions between players in the recent past have helped companies strengthen their market presence. Eli Lilly and Boehringer Ingelheim together have an alliance in developing and commercializing Abasaglar (Insulin Glargine).
Europe Insulin Drugs Market Top Players
*Disclaimer: Major Players sorted in no particular order
Europe Insulin Drugs Market Recent Developments
- In March 2021, EMA announced the approval of Kixelle, which is Biocon's biosimilar of Novo Nordisk's Novolog.
- In April 2020, the EMA's Committee for Medicinal Products for Human Use (CHMP) approved Sanofi's insulin aspart used to control blood sugar levels in patients from one year of age having diabetes.
- In March 2020, Lyumjev received marketing authorization throughout the EU to control blood glucose levels in adults with diabetes.
- In June 2020, EMA authorized Sanofi's Admelog, a biosimilar of Eli Lilly's Humalog.
Europe Insulin Drugs Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Insulin (Value and Volume, 2016-2027)
5.1.1 Basal or Long-acting Insulins
126.96.36.199 Lantus (Insulin Glargine)
188.8.131.52 Levemir (Insulin Detemir)
184.108.40.206 Toujeo (Insulin Glargine)
220.127.116.11 Tresiba (Insulin Degludec)
18.104.22.168 Abasaglar (Insulin Glargine)
5.1.2 Bolus or Fast-acting Insulins
22.214.171.124 NovoRapid\Novolog (Insulin Aspart)
126.96.36.199 Humalog (Insulin Lispro)
188.8.131.52 Apidra (Insulin Glulisine)
184.108.40.206 FIASP (Insulin Aspart)
220.127.116.11 Admelog (Insulin Lispro)
5.1.3 Traditional Human Insulins
5.1.4 Insulin Combinations
18.104.22.168 NovoMix (Biphasic Insulin Aspart)
22.214.171.124 Ryzodeg (Insulin Degludec and Insulin Aspart)
126.96.36.199 Xultophy (Insulin Degludec and Liraglutide)
188.8.131.52 Soliqua/Suliqua (Insulin Glargine and Lixisenatide)
5.1.5 Biosimilar Insulins
184.108.40.206 Insulin Glargine Biosimilars
220.127.116.11 Human Insulin Biosimilars
5.2.1 United Kingdom (Value and Volume, 2016-2027)
18.104.22.168 Basal or Long-acting Insulins
22.214.171.124 Bolus or Fast-acting Insulins
126.96.36.199 Traditional Human Insulins
188.8.131.52 Insulin Combinations
184.108.40.206 Biosimilar Insulins
5.2.2 Germany (Value and Volume, 2016-2027)
220.127.116.11 Basal or Long-acting Insulins
18.104.22.168 Bolus or Fast-acting Insulins
22.214.171.124 Traditional Human Insulins
126.96.36.199 Insulin Combinations
188.8.131.52 Biosimilar Insulins
5.2.3 France (Value and Volume, 2016-2027)
184.108.40.206 Basal or Long-acting Insulins
220.127.116.11 Bolus or Fast-acting Insulins
18.104.22.168 Traditional Human Insulins
22.214.171.124 Insulin Combinations
126.96.36.199 Biosimilar Insulins
5.2.4 Russia (Value and Volume, 2016-2027)
188.8.131.52 Basal or Long-acting Insulins
184.108.40.206 Bolus or Fast-acting Insulins
220.127.116.11 Traditional Human Insulins
18.104.22.168 Insulin Combinations
22.214.171.124 Biosimilar Insulins
5.2.5 Spain (Value and Volume, 2016-2027)
126.96.36.199 Basal or Long-acting Insulins
188.8.131.52 Bolus or Fast-acting Insulins
184.108.40.206 Traditional Human Insulins
220.127.116.11 Insulin Combinations
18.104.22.168 Biosimilar Insulins
5.2.6 Italy (Value and Volume, 2016-2027)
22.214.171.124 Basal or Long-acting Insulins
126.96.36.199 Bolus or Fast-acting Insulins
188.8.131.52 Traditional Human Insulins
184.108.40.206 Insulin Combinations
220.127.116.11 Biosimilar Insulins
5.2.7 Rest of Europe (Value and Volume, 2016-2027)
18.104.22.168 Basal or Long-acting Insulins
22.214.171.124 Bolus or Fast-acting Insulins
126.96.36.199 Traditional Human Insulins
188.8.131.52 Insulin Combinations
184.108.40.206 Biosimilar Insulins
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population (2016-2027)
6.2 Type-2 Diabetes Population (2016-2027)
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Novo Nordisk
7.1.2 Eli Lilly
7.2 Company Share Analysis
7.2.1 Novo Nordisk
7.2.2 Eli Lilly
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Insulin Drugs Market Research FAQs
What is the study period of this market?
The Europe Insulin Drugs Market is studied from 2018 - 2028.
What is the growth rate of Europe Insulin Drugs Market?
The Europe Insulin Drugs Market is growing at a CAGR of >4% over the next 5 years.
What is Europe Insulin Drugs Market size in 2018?
The Europe Insulin Drugs Market is valued at 5581 Million USD in 2018.
What is Europe Insulin Drugs Market size in 2028?
The Europe Insulin Drugs Market is valued at 6932 Million USD in 2028.
Who are the key players in Europe Insulin Drugs Market?
Novo Nordisk, Sanofi, Eli Lilly, AstraZeneca, Biocon are the major companies operating in Europe Insulin Drugs Market.
Europe Insulin Drugs Industry Reports
In-depth industry statistics and market share insights of the Europe Insulin Drugs sector for 2020, 2021, and 2022. The Europe Insulin Drugs research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Europe Insulin Drugs report PDF.