The Basal Insulin Market is expected to register a CAGR of 4.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Lantus, Levemir, Toujeo, Others); Application (Type I Diabetes, Type II Diabetes, Gestational Diabetes, Prediabetes); and End User (Hospitals, Clinics, Others). The global analysis is broken down at the regional level and for major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Basal Insulin Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Basal Insulin Market Segmentation
Type- Lantus
- Levemir
- Toujeo
- Type I Diabetes
- Type II Diabetes
- Gestational Diabetes
- Prediabetes
- Hospitals
- Clinics
Strategic Insights
Basal Insulin Market Growth Drivers- Increasing Prevalence of Diabetes and Rising Insulin Demand: The global rise in the prevalence of diabetes is one of the most significant growth opportunities for the basal insulin market. As the number of people diagnosed with diabetes continues to increase, especially in emerging economies, the demand for insulin therapies—particularly basal insulins, which help regulate blood glucose levels throughout the day—continues to grow. Basal insulin is essential for patients with both type 1 and type 2 diabetes to maintain stable blood sugar levels. In particular, the prevalence of type 2 diabetes, which is often linked to lifestyle factors such as diet, sedentary behavior, and obesity, is skyrocketing in regions like North America, Europe, and parts of Asia-Pacific. The rise in diabetes cases means a larger number of patients require insulin management, creating a steady demand for basal insulin products. Furthermore, with the growing awareness of the importance of diabetes management in preventing complications such as cardiovascular diseases and kidney failure, there is an increased focus on the use of basal insulin. The continued rise in diabetes cases worldwide is expected to sustain the growing need for basal insulin, making it a promising area of expansion for pharmaceutical companies in the coming years.
- Technological Advancements in Insulin Delivery Systems: Technological innovations in insulin delivery systems offer a significant growth opportunity for the basal insulin market. With the growing demand for easier and more efficient methods of administering insulin, manufacturers are focusing on developing advanced delivery systems such as insulin pens, pumps, and automated insulin delivery systems (AID). These devices are designed to improve the convenience, precision, and patient experience of using basal insulin. Insulin pens, which provide more accurate dosing and are more portable than traditional vials and syringes, are gaining popularity among both type 1 and type 2 diabetes patients. Additionally, insulin pumps that provide continuous basal insulin infusion and automated insulin delivery systems that adjust insulin doses based on real-time glucose monitoring are transforming diabetes management. These advancements allow for more precise insulin delivery, reducing the likelihood of complications related to insulin dosing errors. Moreover, the rise of smart insulin pens and apps that track blood glucose levels and insulin use is increasing patient adherence and improving diabetes management. As technology continues to evolve, the market for basal insulin delivery systems is expected to expand, providing greater opportunities for both insulin manufacturers and technology developers to offer enhanced solutions that address the needs of diabetic patients worldwide.
- Increasing Focus on Biosimilar Basal Insulin Products: The growing focus on biosimilar basal insulin products presents a unique growth opportunity in the market. As patents for several blockbuster insulin products expire, biosimilars—biologically similar versions of brand-name insulins—are gaining traction as cost-effective alternatives. Biosimilar basal insulins can significantly reduce the cost of diabetes care, which is a key consideration in both developed and developing markets. The availability of affordable biosimilar insulins can make diabetes management more accessible to a broader patient population, especially in low-income regions where high-cost branded insulins may not be readily available. In addition, the introduction of biosimilar insulins increases competition in the market, which could drive further price reductions and improve patient access to essential insulin therapies. Regulatory bodies such as the U.S. FDA and the European Medicines Agency have already approved several biosimilar insulins, and as more biosimilars enter the market, the opportunity for market expansion will grow. By focusing on the development and distribution of biosimilar basal insulins, pharmaceutical companies can tap into a growing segment of price-sensitive consumers and healthcare providers looking for affordable insulin alternatives, driving the overall growth of the basal insulin market.
- Growing Popularity of Insulin Pens and Prefilled Syringes: The growing popularity of insulin pens and prefilled syringes is another important future trend in the basal insulin market. Insulin pens offer greater convenience, accuracy, and ease of use compared to traditional insulin vials and syringes. They are especially beneficial for patients with diabetes who require regular insulin injections, such as those using basal insulin for blood glucose control. The pens are portable, easy to use, and provide more accurate dosing, which can help prevent errors in insulin administration. Prefilled syringes are also gaining traction due to their convenience, as they eliminate the need for patients to draw insulin from vials, reducing the risk of contamination and dosing inaccuracies. These innovations in insulin delivery methods are expected to continue growing in popularity, as they offer a more user-friendly and efficient approach to insulin therapy. As the demand for user-friendly diabetes management tools increases, manufacturers are expected to invest in the development of new and improved insulin pens and prefilled syringes. With a larger population adopting basal insulin for long-term blood sugar control, the market for these advanced delivery systems will continue to expand.
- Shift Toward Long-Acting and Ultra-Long-Acting Insulin Formulations: The trend toward long-acting and ultra-long-acting insulin formulations is expected to continue influencing the basal insulin market in the coming years. Traditional basal insulin products typically require multiple daily injections, but newer long-acting and ultra-long-acting insulin formulations can provide more stable and consistent blood glucose control with fewer injections. These formulations, such as insulin glargine and insulin degludec, offer a smoother and more predictable release of insulin, mimicking the natural secretion of insulin by the pancreas over an extended period. Ultra-long-acting insulins, in particular, are designed to last up to 42 hours or more, reducing the need for daily injections and improving patient adherence to therapy. As patient demand for more convenient, efficient, and effective insulin regimens grows, the market for long-acting basal insulin products is expected to expand. These innovations offer significant advantages in terms of ease of use, fewer injection requirements, and better control over blood sugar levels, particularly for patients with type 1 and type 2 diabetes who need consistent basal insulin therapy. Manufacturers are likely to continue developing and improving long-acting and ultra-long-acting basal insulin products to meet the evolving needs of diabetes patients worldwide.
- Focus on Affordable Insulin Solutions Through Biosimilars: The growing emphasis on biosimilars in the basal insulin market is a notable future trend. As the patents for major insulin products begin to expire, biosimilar insulins—highly similar but more affordable alternatives to branded insulins—are expected to become increasingly popular. Biosimilars can provide a cost-effective solution for patients in both developed and emerging markets, where the high cost of branded insulins often limits accessibility. With healthcare systems under increasing pressure to reduce costs, biosimilars offer an attractive alternative to original insulin products without compromising on quality or efficacy. Regulatory agencies, including the U.S. FDA and the European Medicines Agency, have already approved several biosimilar insulins, and additional biosimilar products are expected to enter the market in the coming years. The availability of affordable insulin alternatives is particularly crucial in low- and middle-income countries, where access to essential diabetes care is often limited. As more biosimilars are introduced, competition in the basal insulin market will increase, helping to lower prices and improve patient access to critical insulin therapies. This trend aligns with global efforts to provide more affordable healthcare solutions and is expected to drive significant growth in the basal insulin market in the future.
- Development of Biosimilar Insulin Products: The increasing demand for affordable insulin therapies, particularly in price-sensitive markets, offers a unique opportunity for the development of biosimilar basal insulin products. Biosimilars are highly similar to original branded biologic insulins but are sold at a lower cost. As patents for major basal insulin products like insulin glargine and insulin detemir expire, biosimilars provide an effective alternative without compromising efficacy or safety. The growing focus on cost-effective diabetes management in developed and developing markets is driving the demand for biosimilars. In addition, regulatory bodies such as the U.S. FDA and the European Medicines Agency have approved several biosimilar insulin products, paving the way for further market expansion. As biosimilars continue to gain acceptance, they are expected to drive increased competition in the basal insulin market, which will lead to lower prices and broader access to insulin for diabetes patients. Companies investing in the development of high-quality biosimilars have a significant opportunity to capture market share and meet the growing demand for affordable insulin alternatives.
- Integration with Digital Health Platforms: With the rise of digital health technologies, there is a growing opportunity to integrate basal insulin products with digital health platforms, such as mobile apps, continuous glucose monitoring (CGM) systems, and smart insulin pens. These platforms allow patients to track their insulin use, monitor blood glucose levels, and receive real-time feedback, improving their adherence to treatment regimens. As patients increasingly rely on digital tools to manage their diabetes, the demand for basal insulin products that are compatible with these technologies is expected to rise. For example, insulin pens with Bluetooth capabilities can sync data with mobile apps, providing a more streamlined and user-friendly diabetes management experience. Integration with CGMs and automated insulin delivery systems will also allow for more precise insulin dosing and reduce the likelihood of complications associated with mismanaged diabetes. As digital health technologies become more widespread, pharmaceutical companies that focus on creating basal insulin products that seamlessly integrate with these devices will be well-positioned to capitalize on this growing trend.
- Growing Focus on Personalized Diabetes Care: Personalized medicine and tailored treatment regimens are becoming increasingly popular in the healthcare industry, and the basal insulin market is no exception. Personalized diabetes care involves adjusting insulin therapy based on individual factors, such as a patient’s genetics, lifestyle, and the presence of comorbid conditions. By adopting a more personalized approach to diabetes management, basal insulin therapy can be optimized for each patient’s unique needs, improving treatment outcomes and reducing the risk of complications. The rise of personalized medicine, driven by advancements in genetic testing, artificial intelligence, and continuous glucose monitoring, creates an opportunity for basal insulin manufacturers to offer more tailored products. For instance, personalized insulin regimens could involve adjusting the timing, dosage, or type of basal insulin based on a patient’s specific glucose control patterns. Companies that focus on developing personalized insulin products, as well as collaborating with healthcare providers to integrate tailored care plans, will be able to meet the growing demand for individualized treatment solutions in the basal insulin market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Basal Insulin Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Basal Insulin Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
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to segments covered.

Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
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to country scope.
Frequently Asked Questions
The Basal Insulin Market is estimated to witness a CAGR of 4.5% from 2025 to 2031.
The major factors driving the Basal Insulin Market are Increasing Prevalence of Diabetes and Rising Insulin Demand, Technological Advancements in Insulin Delivery Systems, Increasing Focus on Biosimilar Basal Insulin Products.
Future trends in the Basal Insulin Market are Growing Popularity of Insulin Pens and Prefilled Syringes, Shift Toward Long-Acting and Ultra-Long-Acting Insulin Formulations, Focus on Affordable Insulin Solutions Through Biosimilars.
Some of the players operating in the market are Novo Nordisk, Sanofi, Eli Lilly and Company., Biocon., Julphar, BoehringerIngelheim., Teva Pharmaceutical Industries Ltd., Bristol-Myers Squibb Company, Pfizer, GlaxoSmithKline plc.
The report can be delivered in PDF/PPT format; we can also share an excel datasheet based on the request.
Some customization options available based on the request are an additional 3–5 company profiles and a country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Basal Insulin Market - By Type
1.3.2 Basal Insulin Market - By Application
1.3.3 Basal Insulin Market - By End User
1.3.4 Basal Insulin Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BASAL INSULIN MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. BASAL INSULIN MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. BASAL INSULIN MARKET - GLOBAL MARKET ANALYSIS
6.1. BASAL INSULIN - GLOBAL MARKET OVERVIEW
6.2. BASAL INSULIN - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BASAL INSULIN MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. LANTUS
7.3.1. Overview
7.3.2. Lantus Market Forecast and Analysis
7.4. LEVEMIR
7.4.1. Overview
7.4.2. Levemir Market Forecast and Analysis
7.5. TOUJEO
7.5.1. Overview
7.5.2. Toujeo Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. BASAL INSULIN MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. TYPE I DIABETES
8.3.1. Overview
8.3.2. Type I Diabetes Market Forecast and Analysis
8.4. TYPE II DIABETES
8.4.1. Overview
8.4.2. Type II Diabetes Market Forecast and Analysis
8.5. GESTATIONAL DIABETES
8.5.1. Overview
8.5.2. Gestational Diabetes Market Forecast and Analysis
8.6. PREDIABETES
8.6.1. Overview
8.6.2. Prediabetes Market Forecast and Analysis
9. BASAL INSULIN MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. CLINICS
9.4.1. Overview
9.4.2. Clinics Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. BASAL INSULIN MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Basal Insulin Market Overview
10.1.2 North America Basal Insulin Market Forecasts and Analysis
10.1.3 North America Basal Insulin Market Forecasts and Analysis - By Type
10.1.4 North America Basal Insulin Market Forecasts and Analysis - By Application
10.1.5 North America Basal Insulin Market Forecasts and Analysis - By End User
10.1.6 North America Basal Insulin Market Forecasts and Analysis - By Countries
10.1.6.1 United States Basal Insulin Market
10.1.6.1.1 United States Basal Insulin Market by Type
10.1.6.1.2 United States Basal Insulin Market by Application
10.1.6.1.3 United States Basal Insulin Market by End User
10.1.6.2 Canada Basal Insulin Market
10.1.6.2.1 Canada Basal Insulin Market by Type
10.1.6.2.2 Canada Basal Insulin Market by Application
10.1.6.2.3 Canada Basal Insulin Market by End User
10.1.6.3 Mexico Basal Insulin Market
10.1.6.3.1 Mexico Basal Insulin Market by Type
10.1.6.3.2 Mexico Basal Insulin Market by Application
10.1.6.3.3 Mexico Basal Insulin Market by End User
10.2. EUROPE
10.2.1 Europe Basal Insulin Market Overview
10.2.2 Europe Basal Insulin Market Forecasts and Analysis
10.2.3 Europe Basal Insulin Market Forecasts and Analysis - By Type
10.2.4 Europe Basal Insulin Market Forecasts and Analysis - By Application
10.2.5 Europe Basal Insulin Market Forecasts and Analysis - By End User
10.2.6 Europe Basal Insulin Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Basal Insulin Market
10.2.6.1.1 Germany Basal Insulin Market by Type
10.2.6.1.2 Germany Basal Insulin Market by Application
10.2.6.1.3 Germany Basal Insulin Market by End User
10.2.6.2 France Basal Insulin Market
10.2.6.2.1 France Basal Insulin Market by Type
10.2.6.2.2 France Basal Insulin Market by Application
10.2.6.2.3 France Basal Insulin Market by End User
10.2.6.3 Italy Basal Insulin Market
10.2.6.3.1 Italy Basal Insulin Market by Type
10.2.6.3.2 Italy Basal Insulin Market by Application
10.2.6.3.3 Italy Basal Insulin Market by End User
10.2.6.4 Spain Basal Insulin Market
10.2.6.4.1 Spain Basal Insulin Market by Type
10.2.6.4.2 Spain Basal Insulin Market by Application
10.2.6.4.3 Spain Basal Insulin Market by End User
10.2.6.5 United Kingdom Basal Insulin Market
10.2.6.5.1 United Kingdom Basal Insulin Market by Type
10.2.6.5.2 United Kingdom Basal Insulin Market by Application
10.2.6.5.3 United Kingdom Basal Insulin Market by End User
10.2.6.6 Rest of Europe Basal Insulin Market
10.2.6.6.1 Rest of Europe Basal Insulin Market by Type
10.2.6.6.2 Rest of Europe Basal Insulin Market by Application
10.2.6.6.3 Rest of Europe Basal Insulin Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Basal Insulin Market Overview
10.3.2 Asia-Pacific Basal Insulin Market Forecasts and Analysis
10.3.3 Asia-Pacific Basal Insulin Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Basal Insulin Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Basal Insulin Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Basal Insulin Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Basal Insulin Market
10.3.6.1.1 Australia Basal Insulin Market by Type
10.3.6.1.2 Australia Basal Insulin Market by Application
10.3.6.1.3 Australia Basal Insulin Market by End User
10.3.6.2 China Basal Insulin Market
10.3.6.2.1 China Basal Insulin Market by Type
10.3.6.2.2 China Basal Insulin Market by Application
10.3.6.2.3 China Basal Insulin Market by End User
10.3.6.3 India Basal Insulin Market
10.3.6.3.1 India Basal Insulin Market by Type
10.3.6.3.2 India Basal Insulin Market by Application
10.3.6.3.3 India Basal Insulin Market by End User
10.3.6.4 Japan Basal Insulin Market
10.3.6.4.1 Japan Basal Insulin Market by Type
10.3.6.4.2 Japan Basal Insulin Market by Application
10.3.6.4.3 Japan Basal Insulin Market by End User
10.3.6.5 South Korea Basal Insulin Market
10.3.6.5.1 South Korea Basal Insulin Market by Type
10.3.6.5.2 South Korea Basal Insulin Market by Application
10.3.6.5.3 South Korea Basal Insulin Market by End User
10.3.6.6 Rest of Asia-Pacific Basal Insulin Market
10.3.6.6.1 Rest of Asia-Pacific Basal Insulin Market by Type
10.3.6.6.2 Rest of Asia-Pacific Basal Insulin Market by Application
10.3.6.6.3 Rest of Asia-Pacific Basal Insulin Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Basal Insulin Market Overview
10.4.2 Middle East and Africa Basal Insulin Market Forecasts and Analysis
10.4.3 Middle East and Africa Basal Insulin Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Basal Insulin Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Basal Insulin Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Basal Insulin Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Basal Insulin Market
10.4.6.1.1 South Africa Basal Insulin Market by Type
10.4.6.1.2 South Africa Basal Insulin Market by Application
10.4.6.1.3 South Africa Basal Insulin Market by End User
10.4.6.2 Saudi Arabia Basal Insulin Market
10.4.6.2.1 Saudi Arabia Basal Insulin Market by Type
10.4.6.2.2 Saudi Arabia Basal Insulin Market by Application
10.4.6.2.3 Saudi Arabia Basal Insulin Market by End User
10.4.6.3 U.A.E Basal Insulin Market
10.4.6.3.1 U.A.E Basal Insulin Market by Type
10.4.6.3.2 U.A.E Basal Insulin Market by Application
10.4.6.3.3 U.A.E Basal Insulin Market by End User
10.4.6.4 Rest of Middle East and Africa Basal Insulin Market
10.4.6.4.1 Rest of Middle East and Africa Basal Insulin Market by Type
10.4.6.4.2 Rest of Middle East and Africa Basal Insulin Market by Application
10.4.6.4.3 Rest of Middle East and Africa Basal Insulin Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Basal Insulin Market Overview
10.5.2 South and Central America Basal Insulin Market Forecasts and Analysis
10.5.3 South and Central America Basal Insulin Market Forecasts and Analysis - By Type
10.5.4 South and Central America Basal Insulin Market Forecasts and Analysis - By Application
10.5.5 South and Central America Basal Insulin Market Forecasts and Analysis - By End User
10.5.6 South and Central America Basal Insulin Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Basal Insulin Market
10.5.6.1.1 Brazil Basal Insulin Market by Type
10.5.6.1.2 Brazil Basal Insulin Market by Application
10.5.6.1.3 Brazil Basal Insulin Market by End User
10.5.6.2 Argentina Basal Insulin Market
10.5.6.2.1 Argentina Basal Insulin Market by Type
10.5.6.2.2 Argentina Basal Insulin Market by Application
10.5.6.2.3 Argentina Basal Insulin Market by End User
10.5.6.3 Rest of South and Central America Basal Insulin Market
10.5.6.3.1 Rest of South and Central America Basal Insulin Market by Type
10.5.6.3.2 Rest of South and Central America Basal Insulin Market by Application
10.5.6.3.3 Rest of South and Central America Basal Insulin Market by End User
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. BASAL INSULIN MARKET, KEY COMPANY PROFILES
12.1. NOVO NORDISK
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. SANOFI
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. ELI LILLY AND COMPANY.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. BIOCON.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. JULPHAR
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. BOEHRINGER INGELHEIM.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. TEVA PHARMACEUTICAL INDUSTRIES LTD.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. BRISTOL-MYERS SQUIBB COMPANY
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. PFIZER
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. GLAXOSMITHKLINE PLC.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Novo Nordisk
2. Sanofi
3. Eli Lilly and Company.
4. Biocon.
5. Julphar
6. Boehringer Ingelheim.
7. Teva Pharmaceutical Industries Ltd.
8. Bristol-Myers Squibb Company
9. Pfizer
10. GlaxoSmithKline plc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.