High prevalence of diabetes and other chronic conditions that impair glucose uptake, research activities to develop better management strategies, and rapid development of smart insulin delivery devices are some key factors expected to drive market growth.
High prevalence of diabetes and other chronic conditions that impair glucose uptake, research activities to develop better management strategies, and rapid development of smart insulin delivery devices are some key factors expected to drive market growth
The global insulin market size is expected to reach USD 26.80 Billion in 2028 at a CAGR of 4.2% during the forecast period, according to the latest report by Reports and Data. Increasing research and development activities to develop insulin analogs, rapidly rising incidence of glucose impairment due to diabetes and other chronic conditions, and development of less invasive insulin delivery methods are some key factors expected to continue to drive the global market revenue growth over the forecast period. In addition, advancements in insulin therapy such as development of artificial pancreas, rapid adoption of smart insulin pens and injectors, and growing awareness regarding efficient management of diabetes are other major factors expected to fuel revenue growth of the market going ahead.
Insulin is a peptide hormone secreted by the beta cells of islets of Langerhans of the pancreas and regulated blood glucose levels by facilitating proper glucose transport and uptake. Insulin is made of 51 amino acids distributed into two peptides, namely A chain with 21 amino acids and B chain with 30 amino acid residues. Over the recent past, numerous research activities have been carried out to study the 3-dimensional structure of insulin and develop therapeutic analogs of insulin to effectively treat diabetes mellitus. Diabetes is a complex metabolic disorder and insulin is the most effective treatment for the disorder. Insulin binds directly to its receptors present on plasma membranes, which facilitates translocation of glucose transporters from cytoplasm to cell surface. Glucose transporters allow influx of glucose from the blood into cell, which in turn reduces blood glucose levels. Insulin can be administered via subcutaneous, intravenous, or intramuscular routes, with subcutaneous being the widely preferred route of administration. Subcutaneous route enables easy and convenient way for patients to self-administer insulin, and growing popularity of insulin pens and pumps is a key factor driving market growth and is expected to continue to do so going ahead.
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However, adverse effects linked with insulin therapy such as hypoglycaemia and pain at the site of injections, can limit its use among certain individuals. Other adverse effects of insulin therapy include weight gain, electrolyte imbalance, and, in rare cases, peripheral hyperinsulinemia, decreased compliance, and high nocturnal glucose levels. Increasing incidence of insulin resistance, particularly among obese individuals is also a growth limiting factor and can restrain market growth to a certain extent over the forecast period.
Some Key Highlights from the Report:
- Basal or long-acting insulin analogs offer better replication of endogenous secretion of insulin and are slowly and continually absorbed, which enables better basal glycemic control and are increasingly used to treat type 1 diabetes, and this is expected to contribute to revenue growth of the basal or long-acting insulin segment.
- Rapidly rising incidence of type 1 diabetes, increasing focus on better management of type 1 diabetes with different insulin regimens, and availability of advanced insulin delivery devices are some key factors driving revenue growth of type 1 segment.
- Pens segment revenue is expected to expand at a rapid revenue CAGR over the forecast period, attributable to increasing popularity of and preference for insulin pen injectors, growing focus on self-management of diabetes, technological advancements in smart insulin pens and companion apps, and ease of use and convenient insulin administration.
- Clinics segment is expected to account for a considerable revenue share in the global market over the forecast period, attributable to availability of advanced and point-of-care diabetes management devices, presence of skilled practitioners and nurses, and increasing network of diabetes clinics across the globe.
- Asia Pacific is expected to register robust revenue CAGR between 2021 and 2028 attributable to rising incidence of diabetes among geriatric population in APAC countries, increasing investment in healthcare facilities, availability of better medical treatments, and growing presence of key players in the region.
- Key companies in the market report include Novo Nordisk A/S, Sanofi, Eli Lily and Company, ADOCIA, Julphar, Pfizer, Inc., Oramed Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., and GlaxoSmithKline Plc.
- In December 2021, Eris Lifesciences announced a joint venture with MJ Biopharm to market and distribute human and analog insulin in India and mark its entry into Indian insulin market.
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For the purpose of this report, Reports and Data has segmented the insulin market based on product type, disease, delivery devices, end use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Basal or Long-Acting Insulin
- Bolus or Fast-Acting Insulin
- Traditional Human Insulin
- Combination Insulin
- Biosimilar Insulin
Diseases Outlook (Revenue, USD Billion; 2018-2028)
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
- Prediabetes
Delivery Devices Outlook (Revenue, USD Billion; 2018-2028)
- Syringes
- Pens
- Pumps
- Others
End Use Outlook (Revenue, USD Billion; 2018-2028)
- Home healthcare
- Hospitals
- Over the counter (OTC)
- Clinics
- Others
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Regional Outlook (USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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