San Francisco, California (PRWEB) June 20, 2014
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 to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/latin-merica-insulin-market.
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Further key findings from the study suggest:
Browse all reports of Pharmaceuticals Market Published by Grand View Research at http://www.grandviewresearch.com/industry/pharmaceuticals.
For the purpose of this study, Grand View Research has segmented the Asia Pacific Insulin market on the basis of product, application, source and region:
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