Basal insulin helps control blood sugar levels between meals and overnight. It is taken through injection and works slowly to maintain an adequate level of insulin in the body throughout the day.
Market Dynamics:
The Basal Insulin Market is expected to witness significant growth over the forecast period owing to increasing prevalence of diabetes worldwide. According to International Diabetes Federation, around 537 million adults were living with diabetes in 2021, and this number is projected to rise to 783 million by 2045. In addition, growing geriatric population is also expected to boost the market growth during the forecast period. The older population is more prone to develop diabetes which in turn is projected to increase the demand for basal insulin. Also, increasing government initiatives aimed at spreading awareness about diabetes management is expected to fuel the market growth over the coming years. However, presence of alternative treatment options may hamper the market growth.
Growing Number of Diabetes Patients as a Key Driver for Basal Insulin Market
The global prevalence of diabetes has risen dramatically over the past few decades. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021, and this number is projected to rise to 783 million by 2045. Type 2 diabetes accounts for around 90% of all diabetes cases globally. Basal insulin is an important treatment option for many type 2 diabetes patients, especially in the later stages of the disease when oral medications are no longer able to adequately control blood sugar levels. The growing diabetes patient pool worldwide directly translates to increased demand for basal insulin drugs. Manufacturers are introducing newer basal insulin formulations that are longer acting and have improved pharmacokinetic profiles to better suit the needs of patients. This rising diabetes burden will remain a primary growth lever for the basal insulin market in the coming years.
Threat of Biosimilars Emerging as a Key Market Restrain
The patent expiries of major insulin brands including Lantus and Levemir in the late 2010s opened up opportunities for biosimilar competition. A number of Indian and Chinese pharmaceutical companies have launched interchangeable biosimilar versions of glargine and detemir insulins at significantly lower prices than the originator products. While biosimilars have largely made insulin more affordable for cash-paying patients, their emergence poses a threat to the revenue streams and market share of leading insulin makers like Sanofi and Novo Nordisk. Biosimilars capture a sizeable portion of new patient volumes in several countries, limiting the upside potential for innovator basal insulin drugs. Additionally, payers and pharmacies often prefer stocking biosimilars due to the cost savings they provide. Stringent regulations and lengthy approval pathways for biosimilars in the US have allowed originator brands to retain dominance in this major market. However, as regulatory and reimbursement frameworks evolve, biosimilars are likely to increasingly constrain growth of the overall basal insulin market.
Market Potential for Combination Therapies Presents an Opportunity
Combining basal insulin with other glucose lowering agents into single, fixed-dose formulations can offer enhanced efficacy and convenience over free drug combinations. Drug makers are realizing this opportunity by developing novel basal insulin combination products. For instance, Eli Lilly's strategic move to partner with Boehringer Ingelheim to research, develop and commercialize a fixed-dose combination of basal insulin glargine and the SGLT2 inhibitor empagliflozin. Such a product will target a large pool of patients requiring basal insulin along with additional therapy. Approval of Lilly/BI's combination is awaited based on positive Phase 3 data. Similarly, Novo Nordisk is pursuing novel basal insulin twins containing GLP1 agonists and other new classes of antidiabetic medication. The advent of well-tolerated, single-injection combination therapies can help optimize therapy adherence while also differentiating products in the increasingly crowded basal insulin landscape. This represents a significant untapped potential for both originator and biosimilar players in the industry.
Rise of Digital Health Solutions as an Emerging Market Trend
Digital health has started playing an important role in diabetes management in recent years. Basal insulin analogs are now being evaluated for incorporation into cutting-edge diabetes management tools involving continuous glucose monitoring (CGM), automated insulin delivery systems, artificial pancreas devices and decision support software. Companies are striving to make complex basal insulin regimens more user-friendly and seamless through advanced digitally-enabled therapies. The goal is to achieve better glycemic control through real-time adjustment of insulin dosing based on CGM measurements, without frequent user interaction. FDA approvals of automated insulin delivery solutions like the Tandem Diabetes t:slim X2 insulin pump with Control-IQ technology will further standardize this trend in basal insulin administration. In the coming decade, a majority of new analog launches are likely to integrate into smart, digitally-connected platforms. This reflects an important evolutionary phase for the basal insulin market, driven by twin forces of health innovation as well as demand for improved outcomes and user experience.
