2014 – 2024 ASIA PACIFIC BIOSIMILAR INSULIN GLARGINE & LISPRO MARKET FORECAST & OPPORTUNITIES
www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING
Scope of Report End User of Interest (POI): Biosimilar Insulin Glargine & Lispro
Asia Pacific biosimilar insulin glargine & lispro market is forecast to witness robust growth until 2024. Increasing expenditure on healthcare, changing eating habits and growing adoption of sedentary lifestyles are increasing the prevalence of obesity and diabetes among the population, which in turn is driving the market for biosimilar insulin glargine & lispro in the region. Additionally, increasing dependence on packaged foods is further fueling growth of the market across the region. Market Segmentation ASIA PACIFIC BIOSIMILAR INSULIN GLARGINE & LISPRO MARKET
END USER •
Type 1 Diabetes
•
Type 2 Diabetes
COUNTRY •
Japan
•
China
•
India
•
South Korea
•
Bangladesh
•
Pakistan
Year Range Review Period
2014 – 2017 Base Year
2018 Estimated Year
2019 Forecast Period
2020 – 2024
2
Ta b l e o f C o n t e n t s
Table of Contents S. No.
Contents
1.
Product Overview
2.
Research Methodology
3.
Executive Summary
4.
Voice of Customer
5.
Global Biosimilar Insulin Glargine & Lispro Market Overview
6.
Asia Pacific Biosimilar Insulin Glargine & Lispro Market Outlook 6.1.
Market Size & Forecast 6.1.1.
6.2.
By Value & Volume
Market Share & Forecast 6.2.1.
By End User (Type 1 Diabetes, Type 2 Diabetes)
6.2.2.
By Country
6.2.3.
By Company
6.3.
Market Attractiveness Index
6.4.
Competition Outlook 6.4.1.
6.5.
Page No.
Major Insulin Glargine & Lispro Suppliers with products registered and sold
Asia Pacific: Country Analysis
6.5.1.
China Biosimilar Insulin Glargine & Lispro Market Outlook 6.5.1.1.
Market Size & Forecast 6.5.1.1.1.
6.5.1.2.
By Value & Volume
Market Share & Forecast 6.5.1.2.1.
By End User
3
Ta b l e o f C o n t e n t s
Table of Contents S. No.
Contents 6.5.2.
Japan Biosimilar Insulin Glargine & Lispro Market Outlook 6.5.2.1.
Market Size & Forecast 6.5.2.1.1.
6.5.2.2.
Market Size & Forecast 6.5.3.1.1.
6.5.3.2.
By Value & Volume
Market Share & Forecast
6.5.3.2.1.
By End User
South Korea Biosimilar Insulin Glargine & Lispro Market Outlook 6.5.4.1.
Market Size & Forecast 6.5.4.1.1.
6.5.4.2.
By Value & Volume
Market Share & Forecast 6.5.4.2.1.
6.5.5.
By End User
India Biosimilar Insulin Glargine & Lispro Market Outlook
6.5.3.1.
6.5.4.
By Value & Volume
Market Share & Forecast 6.5.2.2.1.
6.5.3.
Page No.
By End User
Australia Biosimilar Insulin Glargine & Lispro Market Outlook 6.5.5.1.
Market Size & Forecast
6.5.5.1.1. 6.5.5.2.
By Value & Volume
Market Share & Forecast 6.5.5.2.1.
By End User
4
Ta b l e o f C o n t e n t s
Table of Contents S. No.
Contents 6.5.6.
Bangladesh Biosimilar Insulin Glargine & Lispro Market Outlook 6.5.6.1.
Market Size & Forecast 6.5.6.1.1.
6.5.6.2.
By End User
Pakistan Biosimilar Insulin Glargine & Lispro Market Outlook
6.5.7.1.
Market Size & Forecast 6.5.7.1.1.
6.5.7.2.
By Value & Volume
Market Share & Forecast
6.5.7.2.1. 7.
By Value & Volume
Market Share & Forecast 6.5.6.2.1.
6.5.7.
Page No.
By End User
Market Dynamics 7.1.
Drivers
7.2.
Challenges
8.
Market Trends & Developments
9.
Competitive Landscape
10.
Strategic Recommendations
11.
About Us & Disclaimer
5
RESEARCH METHODOLOGY
Research Methodology
Market Profiling
In-depth secondary research was conducted to determine top players in the Asia Pacific biosimilar insulin glargine & lispro market, overall market size and segmental market size.
Formulating Questionnaire
In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.
Developing List of Respondents
Data Collection
Data Validation
Data obtained as a result of primary and secondary research was validated through rigorous triangulation.
TechSci conducted interviews with industry experts and industry players for data collection and verification.
List of industry players and industry specialists was developed.
Primary Research
Data Collection
Data Filter & Analysis
Research & Intelligence
Actionable Insights
Desk Research
✓ Identifying Key Opinion Leaders
Business Solution
✓ Questionnaire Design
✓ ✓
LinkedIn TechSci Internal Database
✓ ✓ ✓ ✓ ✓
Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.
Company Analysis
✓ Recent Developments
✓ Market Participants
✓ Market Changing Aspects/Dynamics
✓ Key Strengths
✓ Conclusion
Secondary Research ✓ ✓
The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the Asia Pacific biosimilar insulin glargine & lispro market.
✓ Government Policies
✓ In-depth Interviews
Primary Research
Data Analysis
Paid Sources
✓ ✓
Factiva Hoovers
7
Research Methodology Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of Asia Pacific biosimilar insulin glargine & lispro market. The
team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as rising levels of obesity, growing expenditure on healthcare and increasing adoption of sedentary lifestyles. The study includes market forecasting, which would enable our
clients to take better decisions while planning their strategy to achieve sustainability in Asia Pacific biosimilar insulin glargine & lispro market.
Methodology Followed for Calculation of Market Size:
• Market Size by Value & Volume: Market size, in terms of value & volume, for the year 2018 was calculated based on information collected
through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as biosimilar insulin glargine & lispro companies, suppliers & end users, industry experts, and other industry participants.
• The team interviewed more than 15 – 20 biosimilar insulin glargine & lispro companies, suppliers and distributors, 100 – 120 end users, and 15 – 20 industry experts and other value chain stakeholders in Asia Pacific biosimilar insulin glargine & lispro market to obtain the overall market size from 2014 to 2018, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2014-2018.
8
Research Methodology • Respondents were asked about the current and future market growth rates, market shares by end user, by company and by each country. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: Market shares by end user, by country and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of Asia Pacific biosimilar insulin glargine & lispro market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Asia Pacific biosimilar insulin glargine & lispro market, TechSci Research used various forecast techniques such as:
✓
Moving Average
✓
Time Series Analysis
✓
Regression Analysis
✓
Econometric and Judgmental Analysis
9
Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million. Partial List of Companies Interviewed
Key Secondary Sources
▪ Sanofi SA
▪ World Bank
▪ Biocon Limited
▪ International Monetary Fund (IMF)
▪ Novo Nordisk A/S
▪ TechSci Research Proprietary Database & Knowledge
▪ Wockhardt Ltd
Repository
▪ Eli Lily and Company
▪ Company Annual Reports
▪ Julphar Diabetes LLC
▪ Industry Magazines
▪ SAJA Pharmaceuticals
▪ Industry Reports
▪ Gan & Lee Pharmaceutical Ltd
▪ News Dailies
▪ Cipla Limited
▪ Credible Paid Databases
▪ Merck & Co.
10
INDUSTRY BRIEF According to TechSci Research report, “Asia Pacific Biosimilar Insulin Glargine & Lispro Market By End User, By Country, Competition, Forecast & Opportunities, 2024”, Asia-Pacific biosimilar insulin glargine & lispro market is projected to reach $ 786 million by 2024. Biosimilar insulin glargine & lispro are witnessing rising adoption on account of increasing number of diabetes patients and growing prevalence of obesity. However, the pharmaceutical industry is a highly regulated one and this can hamper the growth of the market during forecast period. Additionally, high competition from the hybrid polymers and composites is further expected to obstruct the biosimilar insulin glargine & lispro market.
Asia-Pacific biosimilar insulin glargine & lispro market is segmented based on end user, country and company. Based on end user, the market can be bifurcated into Type 1 Diabetes and Type 2 Diabetes. The Type 1 diabetes dominates the market since the body is unable to produce insulin in this disease. Therefore, getting oneself injected with insulin is the only way to treat this and get the blood glucose levels regulated. Hence, treatment of Type 1 diabetes generates maximum demand for insulin glargine and lispro across the globe. Type 2 diabetes segment is expected to grow at a fast pace during forecast period owing to the growing sedentary lifestyle due to which people are failing to maintain an active daily life, leading to obesity and occurrence of Type 2 diabetes. Therefore,
the utilization of biosimilar insulin glargine and lispro to treat Type 2 diabetes is expected to see some growth during the forecast period.
Sanofi S.A., Eli Lilly and Company, Biocon Limited, Novo Nordisk A/S, Wockhardt, Cipla Limited, Merck Limited, and others are some of the leading players operating in Asia-Pacific biosimilar insulin glargine & lispro market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. “Asia-Pacific is expected to be the fastest growing market for biosimilar insulin glargine & lispro
during the forecast period, owing to the increasing number of diabetes patients in this region. Moreover, India ranked 2nd in the number of diabetic patients across the world, which in turn, is providing new opportunities for the market to grow at a rapid rate in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
11
SAMPLE DATA - SNAPSHOT Asia Pacific Biosimilar Insulin Glargine & Lispro Market Size, By Value (USD Million) & By Volume (Million Units), 2014–2024F
5.00
10.00 2014
7.00
6.00
30.00
20.00
8.00 40.00
CAGR By Value & Volume
XX%
10.00
9.00
60.00
50.00
2018
12.00
11.00
80.00
70.00
14.00
13.00
100.00
90.00
CAGR By Value & Volume
2019E
2024F
YY%
By Value (USD Million)
15.00 110.00
By Volume (Million Units)
Asia Pacific Biosimilar Insulin Glargine & Lispro Market Share, By Country, By Value, 2018 & 2024F
2024F
2018
Japan South Korea
China Bangladesh
Japan South Korea
India Pakistan
China Bangladesh
India Pakistan
India Biosimilar Insulin Glargine & Lispro Market Share, By End User, By Value, 2014–2024F
Type 1 Diabetes
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
Type 2 Diabetes
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
50%
2014
2015
2016
2017
2018
2019E
2020F
2021F
2022F
2023F
2024F 12
Competitor Profile BYD Company Limited
Report Name: ASIA PACIFIC BIOSIMILAR INSULIN GLARGINE & LISPRO MARKET
FORECAST & OPPORTUNITIES 2014 – 2024
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Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.