CIS Insulin Market To Witness Enhance Demand In Medical Sector, Will Be Worth $3, 000 Million By 2020: Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.” has announced the addition of “Global CIS Insulin Market Analysis And Segment Forecasts To 2020” Market Research report to their Database

The Commonwealth of Independent States (CIS) is an alliance of twelve nations. It was formed after the dissolution of Soviet Union. The CIS insulin market is expected to grow at a CAGR of 14.9% during 2014 to 2020 (forecast period). It should earn around USD 3, 000 million by the end of the forecast period. Superior products under development & their imminent commercialization can drive the market.

Rising diabetes incidences fuel insulin demand. According to the International Diabetes Federation, diabetics will increase from 366 million in 2011 to over 550 million in 2030. Altering lifestyles and improper diet cause health disorders like obesity, hypertension, etc. The robust fast food industry in CIS also assists the market.

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Widespread commercialization of insulin products is a favorable CIS insulin market trend. Moreover, CIS regulations favor the manufacturers of insulin drugs. This encourages multinationals. Local producers are granted subsidies. Agreements between local vendors & autonomous governments result in lower product prices. This is bound to aid growth in a still-nascent market.

The market is segregated into products, applications, sources, and regions. Products are rapid acting, premixed, long acting, short acting, premixed analog, and intermediate acting. Long acting products held about 38% of the market in 2013. They prevent blood sugar from dropping down to dangerous levels.

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Application segments include Type I diabetes and Type II diabetes. Type II is more common, with several products catering to it. The segment accounted for over 89% shares in 2013. Sources wise, the CIS insulin market comprises analogs & human recombinants. Analogs enjoy deeper penetration. This helps them hold around 81% of the total revenues. They should register the fastest expansion in the next six years. 

The regional segments consist of Poland, Russia, Ukraine, Turkey, Belarus, Uzbekistan, Kazakhstan, and Rest of CIS. Russia captured the maximum share (70%) in 2013. It will grow at the fastest rate in the future. Its government makes insulin drugs affordable even to the common man. Bio similar drugs in the nation are also an advantage for Russia.  

The CIS insulin market is oligopolistic. Local producers hold dominant positions. Top multinational vendors encompass Sanofi Aventis, Novo Nordisk, and Takeda Pharmaceuticals. 

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