Market Size of Basal Insulin Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 273.68 Million |
| Market Size (2029) | USD 344.33 Million |
| CAGR (2024 - 2029) | 4.70 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Basal Insulin Market Analysis
The Basal Insulin Market size is estimated at USD 273.68 million in 2024, and is expected to reach USD 344.33 million by 2029, growing at a CAGR of 4.70% during the forecast period (2024-2029).
The market is estimated to reach a value of more than USD 4.9 billion during the forecast period.
The COVID-19 pandemic has substantially impacted the Global Basal Insulin Market. People with diabetes have a weak immune system so, with COVID-19, the immune system gets weaker very fast. People with diabetes will have more chances to get into serious complications rather than normal people. The manufacturers of diabetes care productshave taken care during COVID-19 to deliver diabetes care products to diabetes patients with the help of local governments.
Novo Nordisk stated on its website that 'Since the start of COVID-19, our commitment to patients, our employees and the communities where we operate has remained unchanged, we continue to supply our medicines and devices to people living with diabetes and other serious chronic diseases, safeguard the health of our employees, and take actions to support doctors and nurses as they work to defeat COVID-19.' Doctors around the world suggested diabetes patients should check their diabetes levels more often to be careful and the intake of medicine has increased. The pandemic also highlighted opportunities for continuing and expanding innovations in the delivery of diabetes care, through virtual consultations between healthcare providers and people with diabetes, and the use of diabetes technology. Crisis management has created unprecedented interest in remote care from both patients and providers and removed many long-standing regulatory barriers paving the way for cost-effective alternatives such as biosimilars and combination insulins.
The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure in developed countries are indications of the increasing usage of diabetic care products. Leading manufacturers are focusing on technological innovations and developing advanced products to gain a substantial market share.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness negative growth over the analysis period.
Basal Insulin Industry Segmentation
Basal insulin is a slow-release insulin that works throughout the day to maintain a baseline insulin level. The Global Basal Insulin (Long-acting Insulin) Market is segmented into Products (Lantus, Levemir, Tresiba, Toujeo, Basaglar) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America). The report offers the value (in USD million) and volume (in million mL) for the above segments. Further, the report will cover a segment-wise breakdown (Value and Volume) for all the countries covered under the Table of Contents.
| Products | |
| Lantus | |
| Levemir | |
| Toujeo | |
| Tresiba | |
| Basaglar |
| Geography | |||||||||||||
| |||||||||||||
| |||||||||||||
| |||||||||||||
| |||||||||||||
|
Basal Insulin Market Size Summary
The Basal Insulin Market is poised for growth, driven by the increasing prevalence of diabetes and the rising demand for effective diabetes management solutions. The market is experiencing a surge in interest due to the growing incidence of Type 1 and Type 2 diabetes, largely attributed to factors such as obesity, unhealthy diets, and physical inactivity. This trend is further exacerbated by the COVID-19 pandemic, which highlighted the vulnerabilities of diabetic patients and underscored the importance of continuous and innovative diabetes care. Manufacturers are responding by focusing on technological advancements and strategic collaborations to enhance their product offerings and capture a larger market share. The market landscape is characterized by significant players like Novo Nordisk, Eli Lilly, and Boehringer Ingelheim, who are actively engaged in developing and commercializing advanced insulin products.
North America currently holds a dominant position in the Global Basal Insulin Market, with a substantial share attributed to the high prevalence of diabetes in the region. The market is expected to witness steady growth, supported by favorable healthcare policies and the availability of comprehensive diabetes care solutions. The American Diabetes Association and Medicare drug plans play a crucial role in facilitating access to insulin and other necessary medications, thereby encouraging market expansion. Despite the challenges posed by the disease's progressive nature and the complexities of diabetes management, the market is anticipated to grow, driven by ongoing innovations and the commitment of key players to improve patient outcomes. The introduction of cost-effective alternatives, such as biosimilars and combination insulins, further contributes to the market's positive outlook over the forecast period.
Basal Insulin Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.3 Market Restraints
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Consumers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Products
-
2.1.1 Lantus
-
2.1.2 Levemir
-
2.1.3 Toujeo
-
2.1.4 Tresiba
-
2.1.5 Basaglar
-
-
2.2 Geography
-
2.2.1 North America
-
2.2.1.1 United States
-
2.2.1.2 Canada
-
2.2.1.3 Rest of North America
-
-
2.2.2 Europe
-
2.2.2.1 Germany
-
2.2.2.2 Spain
-
2.2.2.3 Italy
-
2.2.2.4 France
-
2.2.2.5 United Kingdom
-
2.2.2.6 Russia
-
2.2.2.7 Rest of Europe
-
-
2.2.3 Asia-Pacific
-
2.2.3.1 Japan
-
2.2.3.2 China
-
2.2.3.3 Australia
-
2.2.3.4 India
-
2.2.3.5 South Korea
-
2.2.3.6 Malaysia
-
2.2.3.7 Indonesia
-
2.2.3.8 Thailand
-
2.2.3.9 Philippines
-
2.2.3.10 Vietnam
-
2.2.3.11 Rest of Asia-Pacific
-
-
2.2.4 Latin America
-
2.2.4.1 Brazil
-
2.2.4.2 Mexico
-
2.2.4.3 Rest of Latin America
-
-
2.2.5 Middle East and Africa
-
2.2.5.1 South Africa
-
2.2.5.2 Saudi Arabia
-
2.2.5.3 Oman
-
2.2.5.4 Egypt
-
2.2.5.5 Iran
-
2.2.5.6 Rest of Middle East and Africa
-
-
-
Basal Insulin Market Size FAQs
How big is the Basal Insulin Market?
The Basal Insulin Market size is expected to reach USD 273.68 million in 2024 and grow at a CAGR of 4.70% to reach USD 344.33 million by 2029.
What is the current Basal Insulin Market size?
In 2024, the Basal Insulin Market size is expected to reach USD 273.68 million.
