Latin America (Brazil, Argentina, Chile, Mexico, Colombia & Venezuela) Insulin Market: Grand View Research
The Latin America market for Insulin 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.
The report “Latin America (Brazil, Argentina, Chile, Mexico, Colombia, Venezuela) Insulin Market (Rapid Acting, Short Acting, Pre-Mixed, Long Acting, Type I & II Diabetes, Analogs, Recombinant) Analysis And Segment Forecasts To 2020,” is available now toGrand View Researchcustomers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/latin-merica-insulin-market 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
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.
The report “Latin America (Brazil, Argentina, Chile, Mexico, Colombia, Venezuela) Insulin Market (Rapid Acting, Short Acting, Pre-Mixed, Long Acting, Type I & II Diabetes, Analogs, Recombinant) Analysis And Segment Forecasts To 2020,” is available now toGrand View Researchcustomers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/latin-merica-insulin-market 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