Latin America Insulin Market Is Predicted To Reach USD 3,760.7 Million By 2020: By Grand View Research, Inc.
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.
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.
Browse full
research report on Latin America Insulin Market: http://www.grandviewresearch.com/industry-analysis/latin-merica-insulin-market
Further
key findings from the report 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.
Browse more
reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/pharmaceuticals
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
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/latin-america-insulin
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.
Comments
Post a Comment