Albany, NY -- (SBWIRE) -- 02/26/2016 -- Transparency Market Research has added a market intelligence document to its vast database on the pharmaceutical industry. The report, titled "CIS Insulin Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023," provides extensive details on the nature of this market. It elaborates on past and current trends in the market, which are used to predict its future till 2023.

The primary driver for the global CIS insulin market is the growing number of patients being diagnosed with diabetes. According to a report by the International Diabetes Foundation, more than 380 mn people were diagnosed with diabetes in 2013. The organization expects the number of diabetics in the world to be close to 550 mn by the end of 2030. This is the key reason for the growth of the global CIS insulin market.

The global CIS insulin market is also boosted by the increasing penetration of insulin products in multiple regions. The rapid rate of development of most categories of insulin products is further accelerating their sales.

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Government regulations in multiple countries are also becoming more favorable towards the incorporation of insulin production by companies. This has substantially increased the number of multinational companies that have entered the global CIS insulin market, thereby increasing its growth rate.

In terms of products, the global CIS insulin market is guided by the rapid acting insulin segment, which is showing the highest growth rate.

From the perspective of applications, the global CIS insulin market is dominated by type II diabetes, which accounts for nearly 90% of the market.

By source, the global CIS insulin market is led by the analog source segment due to its high levels of efficacy.

From a geographical perspective, the global CIS insulin market is dominated by North America, followed by Europe and Asia Pacific. The major factor responsible for the growth of the regional CIS insulin market is the high number of diabetics already present, along with the growing number of diabetics being diagnosed.

The developed economies in North America and Europe lead the global CIS insulin market due to the presence of a large number of key companies, coupled with higher expenditures in research and development efforts. Europe, in particular, contains multiple economies where favorable government initiatives have accelerated the growth of the CIS insulin market.

Asia Pacific is considered to be the most promising emergent market for CIS insulin. This region includes countries with a high density of population. As the awareness about the benefits of diagnosing diabetes increases, a growing population of diabetics is being observed. The region is also showing rapid development in healthcare infrastructure, further propelling the global CIS insulin market.

The key players in the global CIS insulin market are Pfizer, Inc., Novartis AG, Sanofi, Novo Nordisk, Eli Lilly and Company, and Boehringer Ingelheim.

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