Insulin Market by Drug, Type, Application - Global Forecast 2024-2030

List of Tables

[199 Pages Report] The Insulin Market size was estimated at USD 43.64 billion in 2023 and expected to reach USD 46.76 billion in 2024, at a CAGR 7.63% to reach USD 73.03 billion by 2030.

The insulin market encompasses the production, distribution, and consumption of various insulin types used to treat diabetes mellitus, a chronic metabolic disorder affecting millions worldwide. The primary application of insulin is to control blood sugar levels in patients with type 1 diabetes who lack natural insulin production and those with type 2 diabetes who have developed insufficient or insufficient insulin release. The scope of this market includes human insulin, modern insulins such as rapid-acting and long-acting, and biosimilar insulins. Increasing prevalence of diabetes due to aging populations, improved access to healthcare services, increased awareness about diabetes management, and supportive government initiatives to expand the use and production of insulin. On the other hand, the high cost of insulin and the complex regulatory environment hinder the market growth. However, advancements in biotechnology, which have led to development of novel insulins and increasing approval rates, are expected to proliferate the market growth in the coming years.

KEY MARKET STATISTICS
Base Year [2023]	USD 43.64 billion
Estimated Year [2024]	USD 46.76 billion
Forecast Year [2030]	USD 73.03 billion
CAGR (%)	7.63%

Drug: Significant use of biologic drugs due to having safety, efficacy, and innovative features

Biologic insulin is naturally occurring insulin synthesized using recombinant DNA technology in living organisms, such as bacteria or yeast cells. These insulins are chemically identical to human insulin and closely mimic the body's normal insulin response. Additionally, biological insulins demonstrate high efficacy in controlling blood sugar levels due to their precise molecular structure and function. Biosimilar insulins are similar to biologic insulins that have previously received approval and have no clinically significant variations from their reference products regarding safety, purity, or potency. These insulins are often more affordable than their branded counterparts due to reduced research and development costs associated with the biosimilars' production process. Preference for biosimilar insulin arises from its cost-effectiveness compared to branded biologic insulin options. It provides comparable efficacy and safety profiles, allowing healthcare systems to save on expenses without compromising patient outcomes. The choice between biologic or biosimilar insulin depends on patient response, potential allergic reactions, healthcare system affordability concerns, and accessibility. Continued advancements in both segments are expected to further enhance diabetes care by providing safer and more effective treatment options while addressing the cost challenges healthcare systems worldwide face.

Type: Long-acting insulins provide basal coverage for an extended duration

Intermediate-acting insulin is designed to provide a steady insulin release over an extended period. People with diabetes who require a more stable and longer-lasting insulin effect may prefer intermediate-acting insulin. Long-acting insulin offers prolonged blood sugar control, lasting up to 24 hours or more, usually administered once daily, and is often combined with other forms of insulin for optimal glucose management. Premixed insulin combines intermediate-acting and short- or rapid-acting insulins, offering both immediate and sustained blood sugar control. Rapid-acting insulin works quickly after administration, controlling blood sugar before a meal, which is ideal for patients who need rapid correction of high blood glucose levels. Short-acting insulin, commonly known as regular insulin, controls blood sugar less than an hour after administration. It is suitable for patients who require a fast onset but shorter duration of action than intermediate-acting insulins.

Application: Extensive use of insulin by type I diabetic patients requires constant monitoring and timely administration of insulin

Type I diabetes, also called insulin-dependent or juvenile diabetes, is a chronic disease described by the incapacity of the pancreas to produce adequate insulin. As a result, patients with Type I diabetes require exogenous insulin to regulate their blood glucose levels. The need-based preference for this group is fast-acting insulins that provide rapid absorption and peak action time to mimic physiological insulin release during meals. Type II diabetes is the most common form of diabetes, characterized by resistance to the effects of insulin or insufficient production of this hormone. Patients with Type II diabetes may require various treatments ranging from oral medications to non-insulin injectable drugs or insulin injections, depending on disease progression. The need-based preference for this group includes long-acting basal insulins providing steady coverage over 24 hours and additional bolus injections if required for mealtime blood sugar control. Although both types of diabetes necessitate effective blood glucose management strategies, distinctions arise when considering the preferences for specific insulins or adjunct therapies based on individual needs.

Regional Insights

In the Americas region, North America dominates the insulin market due to the presence of key players, better healthcare infrastructure, and increased awareness regarding disease management. Factors such as government initiatives for early diagnosis and treatment of diabetes are also contributing significantly to this growth. South America is witnessing rising cases of diabetes amidst its rapidly aging population. Countries such as Mexico and Brazil have introduced national policies focusing on preventing and controlling non-communicable diseases, including diabetes, further accelerating market expansion in the region. The Asia-Pacific region is fast emerging as a major market for insulin due to its improvements in healthcare infrastructure and product availability. Furthermore, APAC countries have invested heavily in research and development to produce cost-effective insulin products. In recent years, there has been a surge in the adoption of advanced insulin delivery systems, such as insulin pens and pumps, in the region. As more people become aware of diabetes management options, the demand for insulin and associated devices is projected to increase across APAC countries. Western Europe's insulin market is growing rapidly due to its well-established healthcare infrastructure and increased accessibility to innovative insulin therapies. In the Middle East and Africa region, improving healthcare infrastructure and efforts made by government and international organizations support insulin market growth. Countries such as South Africa are introducing policies to combat non-communicable diseases, including diabetes, through health promotion strategies, which could drive market growth in this area.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Insulin Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Insulin Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Insulin Market, highlighting leading vendors and their innovative profiles. These include ADOCIA, AstraZeneca PLC, Baxter International, Inc., Biocon Limited, Bioton S.A., CardioVends, Eli Lilly and Company, Eva Pharma, GeneSys Biologics, Glenmark Pharmaceuticals Ltd., Gulf Pharmaceutical Industries (Julphar), MannKind Corporation, Merck & Co., Inc., MJ Biopharm Pvt. Ltd., Novartis AG, Novo Nordisk A/S, Oramed Pharmaceuticals Inc., Pfizer Inc., Sanofi Group, Tonghua Dongbao Pharmaceutical Co., Ltd., Viatris Inc., Wockhardt Limited, and Zealand Pharma A/S.

Market Segmentation & Coverage

This research report categorizes the Insulin Market to forecast the revenues and analyze trends in each of the following sub-markets:

Drug
- Biologic
- Biosimilar

Type
- Intermediate-acting Insulin
- Long-acting Insulin
- Premixed Insulin
- Rapid-acting Insulin
- Short-acting Insulin

Application
- Type I Diabetes
- Type II Diabetes

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Insulin Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Insulin Market?

3. What are the technology trends and regulatory frameworks in the Insulin Market?

4. What is the market share of the leading vendors in the Insulin Market?

5. Which modes and strategic moves are suitable for entering the Insulin Market?

Product Code: MRR-03548A2B9FF7

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising incidence of diabetes and obesity with increasing geriatric population
  - 5.1.1.2. Rapid development in insulin delivery systems
  - 5.1.1.3. Favorable reimbursement policies for insulin products in developed countries
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with insulin drugs
- 5.1.3. Opportunities
  - 5.1.3.1. Potential investments in R&D activities for insulin development
  - 5.1.3.2. Rising approvals for interchangeable biosimilar insulin products
- 5.1.4. Challenges
  - 5.1.4.1. Complex regulatory landscape and problems related to patient adherence to treatment regimens
5.2. Market Segmentation Analysis
- 5.2.1. Drug: Significant use of biologic drugs due to having safety, efficacy, and innovative features
- 5.2.2. Type: Long-acting insulins provide basal coverage for an extended duration
- 5.2.3. Application: Extensive use of insulin by type I diabetic patients requires constant monitoring and timely administration of insulin
5.3. Market Trend Analysis
- 5.3.1. Established healthcare infrastructure and development of affordable product have supplemented market growth across the Americas
- 5.3.2. Government support to increase accessibility and usage of insulin in APAC region
- 5.3.3. Research & development activities and availability of reimbursement policies for insulin in the EMEA region
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis

6. Insulin Market, by Drug

6.1. Introduction
6.2. Biologic
6.3. Biosimilar

7. Insulin Market, by Type

7.1. Introduction
7.2. Intermediate-acting Insulin
7.3. Long-acting Insulin
7.4. Premixed Insulin
7.5. Rapid-acting Insulin
7.6. Short-acting Insulin

8. Insulin Market, by Application

8.1. Introduction
8.2. Type I Diabetes
8.3. Type II Diabetes

9. Americas Insulin Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Insulin Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Insulin Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Insulin Maker GeneSys to Invest USD 50-60 MN to Set Up Plant in Hyderabad
- 12.3.2. Gulf Pharmaceutical Industries 'Julphar' Signs Landmark Agreement with Sunshine Lake Pharma to Pioneer Insulin Biosimilar Manufacturing in MENA
- 12.3.3. Sanofi Launches New Long-Acting Insulin Drug in India
- 12.3.4. California, Drugmaker Partner to Produce Affordable Insulin
- 12.3.5. Novo Nordisk to Launch Once-a-Week Insulin Regime for Indian Patients
- 12.3.6. ADOCIA Announces the Successful Phase 1 Study for BioChaperone Lispro with Partner Tonghua Dongbao
- 12.3.7. Glenmark Launches Type 2 Diabetes and High Insulin Resistance Drug in India; Shares Jump
- 12.3.8. Lilly and EVA Pharma Announce Collaboration to Enhance Sustainable Access to Affordable Insulin in Africa
- 12.3.9. Novo Nordisk Launches Unbranded Biologic of Tresiba Analog Insulin to Expand Affordability Options for Patients
- 12.3.10. Optum, Sanofi Partner on Low Cost Insulin for the Uninsured

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio