Drug Price Trends for INSULIN ASPART

Average Pharmacy Cost for INSULIN ASPART

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
INSULIN ASPART 100 UNIT/ML VL	73070-0100-11	6.94725	ML	2024-12-18
INSULIN ASPART PENFILL 100 UNIT/ML CARTRIDGE	73070-0102-15	8.60053	ML	2024-12-18
INSULIN ASPART FLEXPEN 100 UNIT/ML PEN	73070-0103-15	8.95239	ML	2024-12-18
INSULIN ASPART PROTAMINE-INSULIN ASPART MIX 70-30 VIAL	73070-0200-11	6.94650	ML	2024-12-18
INSULIN ASPART PROTAMINE-INSULIN ASPART MIX 70-30 FLEXPEN	73070-0203-15	8.96145	ML	2024-12-18
INSULIN ASPART FLEXPEN 100 UNIT/ML PEN	73070-0103-15	8.95413	ML	2024-11-20
INSULIN ASPART PROTAMINE-INSULIN ASPART MIX 70-30 FLEXPEN	73070-0203-15	8.96138	ML	2024-11-20

Market Analysis and Price Projections for Insulin Aspart

Introduction to Insulin Aspart

Insulin aspart, a rapid-acting insulin analogue, is widely used in the management of diabetes, particularly for controlling blood sugar levels after meals. It is marketed under various brand names, including NovoRapid and Fiasp, and is a crucial component of modern diabetes treatment regimens.

Market Size and Growth

The global insulin market, which includes insulin aspart, is experiencing significant growth driven by the increasing prevalence of diabetes. Here are some key points:

• The global rapid-acting insulin market, which includes insulin aspart, was valued at $7,100 million in 2019 and is projected to reach $8,925 million by 2027, growing at a CAGR of 4.1% from 2020 to 2027[1].
• The broader global insulin market was estimated at $19.45 billion in 2024 and is expected to grow at a CAGR of 3.74% from 2025 to 2030[4].

Market Segmentation

The insulin aspart market can be segmented in several ways:

By Product Type

• Insulin aspart is part of the rapid-acting insulin segment, which is anticipated to grow significantly due to its faster subcutaneous absorption, earlier and greater insulin peak, and shorter duration of action[1].

By Indication

• Insulin aspart is used for both Type 1 and Type 2 diabetes management. The increasing incidence of these conditions is driving the demand for rapid-acting insulins[1].

By Distribution Channel

• The market is divided into hospital pharmacies, drug stores & retail pharmacies, and online providers. The ease of access through these channels contributes to the market's growth[1].

Regional Analysis

• North America: This region dominates the global insulin market due to high prevalence rates of diabetes, advanced healthcare infrastructure, and strong market presence of leading pharmaceutical companies. The U.S. insulin market, in particular, holds a significant share due to high incidence rates of diabetes and favorable reimbursement policies[4].
• Asia-Pacific: This region is expected to register the highest CAGR in the rapid-acting insulin market due to westernized lifestyle behaviors and the increased prevalence of diabetes[1].
• Europe: The European market is also growing, driven by increasing awareness of diabetes management, favorable reimbursement policies, and the adoption of biosimilars[4].

Price Trends and Projections

Historical Pricing

• Insulin prices have been a subject of significant concern due to their high costs. However, recent trends indicate a decrease in prices:
  • The average retail price for insulin rose by 54% from January 2014 to April 2019 but decreased by 10.6% from January 2020 to July 2023[5].

Current and Future Price Adjustments

• Manufacturer Price Cuts: In March 2023, major manufacturers like Eli Lilly and Sanofi announced significant price cuts for their insulin products. For example, Eli Lilly reduced the list price of Humalog (insulin lispro) by 70%, and Sanofi cut the list price of Lantus by nearly 80%. These changes are expected to take effect in January 2024[5].
• Generic and Biosimilar Impact: The introduction of generic and biosimilar insulins has been instrumental in reducing costs. For instance, generic insulin lispro and insulin aspart are priced significantly lower than their branded counterparts, offering over 60% discounts[5].

Estimated Sustainable Prices

• An economic evaluation suggests that insulin analogues, including rapid-acting insulins like insulin aspart, can be manufactured at significantly lower costs than current market prices. For example, basal-bolus treatment with insulin glargine and aspart could cost as low as $111 per year, including the cost of injection devices and needles[3].

Key Drivers and Challenges

Drivers

• Increasing Prevalence of Diabetes: The growing number of diabetes cases globally is a major driver for the insulin aspart market.
• Advances in Formulations: Improved pharmacokinetic profiles and convenience in dosing regimens enhance patient adherence and drive market growth.
• Government Initiatives and Reimbursement Policies: Favorable policies and reimbursement structures support market expansion by improving access to diabetes treatments[4].

Challenges

• High Manufacturing Costs: Despite the potential for lower manufacturing costs, current market prices remain high due to various factors, including research and development expenses and regulatory hurdles.
• Limited Access to Generics and Biosimilars: While generics and biosimilars offer cost-effective alternatives, limited insurance coverage and pharmacy availability can restrict patient access to these options[5].

Market Share and Competitive Landscape

• Insulin Aspart Segment: Insulin aspart is one of the key products in the rapid-acting insulin segment, which is projected to grow significantly. The insulin lispro segment, however, is anticipated to hold the largest market share within the rapid-acting insulin category due to its advantages in absorption and action[1].
• Competitive Players: Major pharmaceutical companies such as Novo Nordisk, Eli Lilly, and Sanofi dominate the market. The entry of biosimilars and generics is expected to increase competition and drive down prices[4].

Future Outlook

• The insulin aspart market is poised for continued growth driven by the increasing prevalence of diabetes and advancements in insulin formulations.
• Price reductions announced by major manufacturers and the increasing availability of generics and biosimilars are expected to make insulin aspart more accessible and affordable for patients.
• Technological innovations in delivery devices and continuous glucose monitoring systems will further enhance the market by facilitating better disease management[4].

Key Takeaways

• The global rapid-acting insulin market, including insulin aspart, is projected to grow at a CAGR of 4.1% from 2020 to 2027.
• Recent price cuts by major manufacturers and the introduction of generics and biosimilars are expected to reduce the cost of insulin aspart.
• The market is driven by the increasing prevalence of diabetes, advances in formulations, and favorable government initiatives and reimbursement policies.
• Technological innovations in delivery systems and continuous glucose monitoring are expected to further drive the market.

FAQs

1. What is the projected market size for the rapid-acting insulin market by 2027?

   • The rapid-acting insulin market is projected to reach $8,925 million by 2027[1].

2. How have insulin prices changed in recent years?

   • Insulin prices rose by 54% from January 2014 to April 2019 but decreased by 10.6% from January 2020 to July 2023[5].

3. What are the key drivers of the insulin aspart market?

   • The increasing prevalence of diabetes, advances in formulations, and favorable government initiatives and reimbursement policies are key drivers[4].

4. How do generics and biosimilars impact the insulin aspart market?

   • Generics and biosimilars offer significant cost savings, with discounts of over 60% compared to branded insulins, and are expected to increase competition and drive down prices[5].

5. What are the estimated sustainable costs for insulin aspart?

   • Economic evaluations suggest that insulin analogues, including rapid-acting insulins like insulin aspart, can be manufactured at costs significantly lower than current market prices, such as $111 per year for basal-bolus treatment[3].

Sources

1. Allied Market Research - Rapid Acting Insulin Market Size and Demand Forecast -2027[1]
2. JAMA Network Open - The Rise and Fall of the Insulin Pricing Bubble[2]
3. JAMA Network Open - Estimated Sustainable Cost-Based Prices for Diabetes Medicines[3]
4. Grand View Research - Insulin Market Size, Share & Growth | Industry Report, 2030[4]
5. GoodRx - How Much Does Insulin Cost? Here's How 32 Brands and Generics Compare[5]