Latin America (Brazil, Argentina, Chile, Mexico, Colombia & Venezuela) Insulin Market To Grow At USD 3,760.7 Million By 2020 | Grand View Research Inc

Latin America (Brazil, Argentina, Chile, Mexico, Colombia & Venezuela) insulin market is growing at a significant rate and is expected to capture largest market share in global insulin market in terms of revenue

San Francisco, United States, 2019-May-31 — /EPR Network/ —

The Latin America Insulin market is expected to reach USD 3,760.7 million by 2020, according to a new study by Grand View Research, Inc. Growing prevalence of diabetes (type I and type II) coupled with government initiatives to develop insulin in markets such as Brazil by providing medical and financial aid to the population in the form of subsidies and the entrance of multinational companies such as Novo Nordisk, Sanofi Aventis, etc is expected to drive regional insulin market. Affordability of medicines is perceived to be a key challenge for market development, as a significant part of the population may not be able to afford the product.

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Further key findings from the study suggest:

  • Long acting products dominated insulin demand in Latin America, with estimated revenue of USD 548.6 million in 2013. Other leading products include rapid acting and premixed analogs, with the latter expected to grow at a CAGR of 14.3 % from 2014 to 2020.
  • In 2013, Analog was a dominant insulin source and is expected to grow at a CAGR of 17.7 % from 2014 to 2020.
  • R&D initiatives, changing lifestyle affecting health of people specially children and growing rate of old aged (above 40) population are also expected to have a positive influence on market demand.
  • In 2013, Brazil was the largest regional insulin market in terms of revenue, accounting for 38.0% share of Latin American demand, followed by Mexico and Argentina. Brazil insulin demand is estimated to grow at a fastest CAGR of 18.2 % from 2014 to 2020.
  • Some of the key manufacturers in Latin American insulin market include Sanofi Aventis, Novo Nordisk, Nanjing Xinbai Pharmaceutical Co. Ltd, Takeda Pharmaceuticals, Eli Lilly and Company.

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In 2013, Type II applications lead the regional market, with revenue of USD 1,183.7 million and are expected to grow at a CAGR of 15.8 % from 2014 to 2020. Type I applications are expected to have faster growth, at an estimated CAGR of 20.3 % from 2014 to 2020.

Grand View Research has segmented the Asia Pacific Insulin market on the basis of product, application, source and region:

Insulin Product Outlook

  • Rapid acting
  • Long acting
  • Premixed
  • Premixed analog
  • Short acting
  • Intermediate acting

Insulin Application Outlook

  • Type II and Other Diabetes
  • Type I Diabetes
  • Insulin Source Outlook
  • Human Recombinant
  • Analogs

Insulin Regional Outlook

  • Brazil
  • Argentina
  • Chile
  • Mexico
  • Colombia
  • Venezuela
  • Peru
  • Rest of Latin America

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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