Insulin Drugs Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 27.96 Billion |
| Market Size (2029) | USD 33.81 Billion |
| CAGR (2024 - 2029) | 3.87 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Insulin Drugs Market Analysis
The Human Insulin Drugs Market size is estimated at USD 27.96 billion in 2024, and is expected to reach USD 33.81 billion by 2029, growing at a CAGR of 3.87% during the forecast period (2024-2029).
The factors driving the market include the rising prevalence of diabetes, the increasing number of novel insulin product launches, and growing government initiatives to create awareness about diabetes.
Diabetes is a chronic (long-lasting) health condition that affects insulin-mediated glucose intake into the cells. Hence, diabetes patients must take insulin daily to maintain blood glucose levels. The rising prevalence of diabetes cases propels the growth of the insulin market. For instance, according to a 2022 update from the International Diabetic Federation (IDF), the number of individuals living with diabetes is estimated to reach 643 million by 2030 and 783 million by 2045. The significant increase in diabetes and the massive role of insulin in managing this disease is expected to boost the growth of the insulin market over the forecast period.
The growing government initiatives to create awareness about diabetes and insulin use are also expected to drive the insulin market during the forecast period. In November 2023, WHO launched a campaign with an Access to Diabetes Care theme to raise awareness about diabetes and minimize the risk of complications by detection and proper treatment. Raising awareness about diabetes prevention and treatment options is expected to drive the insulin market.
The development of various insulin delivery systems is anticipated to boost market growth. For instance, in March 2024, researchers funded by the EU are working on an alternative method to deliver insulin without needles. The project, called BuBble Gun, aims to deposit liquids into the skin and other soft tissues using compression. This five-year project, slated to conclude by the end of 2024, seeks to develop a needle-free insulin delivery system. Such systems are likely to ease the intake of insulin amongst the aging population.
Thus, the factors mentioned above, including the rising prevalence of diabetes, the increasing number of novel insulin product launches, and growing government initiatives to create awareness about diabetes and insulin use, are expected to drive the market over the forecast period.
Insulin Drugs Market Trends
Long-acting insulin is Expected to Record Significant Growth During the Forecast Period
Long-acting insulin is designed for slow release, ensuring a consistent baseline insulin level over an extended period in the blood. It acts slowly due to the precipitation caused when insulin is injected subcutaneously. The long-acting insulin, which can last up to 42 hours, decreases the patient’s insulin injection frequency and helps them adhere to the treatment. Hence, high patient compliance with long-acting insulin is expected to drive segmental growth over the forecast period.
Patient compliance and increasing product launches by key players of biosimilar long-acting insulins are expected to drive the market. For instance, in September 2022, Novo Nordisk reported gaining the US Food and Drug Administration (FDA) approval for unbranded biologic insulin Degludec, a long-acting insulin.
In November 2022, the US Food and Drug Administration approved the Rezvolgar biosimilar that Eli Lilly manufactures. These long-acting insulin biosimilar launches by companies reduce costs and increase patient affordability.
Furthermore, in March 2023, Eli Lilly and Company reported a significant 70% price reduction on its flagship insulins, such as REZVOGLAR. Additionally, the company unveiled an extension of its Insulin Value Program, setting a cap of USD 35 per month on patient out-of-pocket expenses. These moves by Eli Lilly aim to streamline access to their insulins, particularly for Americans facing challenges in the intricate healthcare landscape. Such initiatives are poised to bolster market growth, enabling a broader demographic to afford long-acting insulin.
The acceleration in the number of product launches is likely to drive the segment’s growth over the forecast period.
North America is Expected to Hold the Largest Share of the Market During the Forecast Period
North America holds a considerable share of the insulin market. This is due to the rising prevalence of diabetes in the region, the presence of prominent players, and the growing initiatives of product development. For instance, as per the data updated by the CDC in November 2023, approximately 38.4 million people had diabetes in the United States. According to the same source, around 97.6 million individuals aged 18 years or older had pre-diabetes. Therefore, the region's high prevalence of diabetes cases is projected to create a high demand for insulin products, augmenting regional market growth.
The presence of key players in the region, strategic activities, and an increase in clinical trials are expected to drive the market. In May 2024, Eli Lilly and Company shared promising initial findings from the phase 3 clinical trials of QWINT-2 and QWINT-4, which investigated the effectiveness of once-weekly insulin, efsitora alfa (efsitera), in adults with type 2 diabetes who were either new to insulin use or required multiple daily injections. During the treat-to-target trials, efsitera demonstrated comparable A1C reduction to the commonly used daily basal insulins worldwide.
Thus, the regional market is anticipated to witness considerable market expansion during the forecast period due to the increase in the diabetic population and regional product launches.
Insulin Drugs Industry Overview
The insulin market is highly consolidated, with three major manufacturers holding significant market presence and the remaining manufacturers confined to other local or region-specific manufacturers.
The competitive landscape includes an analysis of several well-known international and local companies that hold market shares, including Novo Nordisk A/S, Sanofi, Eli Lilly and Company, Biocon Limited, and Pfizer Inc.
Insulin Drugs Market Leaders
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Novo Nordisk A/S
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Eli Lilly and Company
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Pfizer Inc.
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Sanofi
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Biocon
*Disclaimer: Major Players sorted in no particular order
Insulin Drugs Market News
- May 2024: KT significantly expanded its KT Health Line by introducing two products specifically designed for diabetes care: the Continuous Glucose Monitor Patch and the Insulin Pump Patch.
- October 2023: Novo Nordisk, a pharmaceutical company based in Denmark, is preparing to conduct phase-III trials for its latest insulin injection, IcoSema, in India. The Drug Controller General of India (DCGI) gave approval to evaluate the effectiveness and safety of this new drug, specifically designed to circulate the blood sugar levels in patients diagnosed with type-two diabetes.
Insulin Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Diabetes
4.2.2 Growing Government Initiatives to Create Awareness About Diabetes
4.3 Market Restraints
4.3.1 Stringent Regulatory Requirements for Product Approval
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Product Type
5.1.1 Rapid-Acting Insulin
5.1.1.1 Insulin Lispro
5.1.1.2 Insulin Aspart
5.1.1.3 Insulin Glulisine
5.1.1.4 Technosphere insulin
5.1.2 Combination Insulin
5.1.2.1 NPH/Regular
5.1.2.2 Protamine/Lispro
5.1.2.3 Protamine/Aspart
5.1.3 Long-Acting Insulin
5.1.3.1 Insulin Detemir
5.1.3.2 Insulin Glargine
5.1.3.3 Insulin Glargine-yfgn
5.1.3.4 Insulin Degludec
5.1.4 Others
5.2 By Application
5.2.1 Type 1 Diabetes
5.2.2 Type 2 Diabetes
5.3 By Delivery Device
5.3.1 Pens
5.3.2 Infusion Pumps
5.3.3 Syringes
5.3.4 Others
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population (2021-2029)
6.2 Type-2 Diabetes Population (2021-2029)
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Novo Nordisk A/S
7.1.2 Sanofi
7.1.3 Eli Lilly and Company
7.1.4 Biocon
7.1.5 Pfizer Inc.
7.1.6 Wockhardt
7.1.7 Julphar
7.1.8 Sedico
7.1.9 Insulet Corporation
7.1.10 Tonghua Dongbao
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Insulin Drugs Industry Segmentation
As per the scope of the report, insulin is defined as a hormone that regulates the body's blood sugar level. It treats chronic diseases such as type 1 and type 2 diabetes.
The insulin market is segmented by product type, application, delivery device, and geography. By product type, the market is segmented into rapid-acting insulin, combination insulin, long-acting insulin, and other product types. By application, the market is segmented by type 1 diabetes and type 2 diabetes. By delivery device, the market is segmented into pens, infusion pumps, syringes, and other delivery devices. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD) for all the above segments.
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| Others |
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| Type 1 Diabetes | |
| Type 2 Diabetes |
| By Delivery Device | |
| Pens | |
| Infusion Pumps | |
| Syringes | |
| Others |
| Geography | ||||||||
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Insulin Market Research FAQs
How big is the Human Insulin Drugs Market?
The Human Insulin Drugs Market size is expected to reach USD 27.96 billion in 2024 and grow at a CAGR of 3.87% to reach USD 33.81 billion by 2029.
What is the current Human Insulin Drugs Market size?
In 2024, the Human Insulin Drugs Market size is expected to reach USD 27.96 billion.
Who are the key players in Human Insulin Drugs Market?
Novo Nordisk A/S, Eli Lilly and Company, Pfizer Inc., Sanofi and Biocon are the major companies operating in the Human Insulin Drugs Market.
Which is the fastest growing region in Human Insulin Drugs Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Human Insulin Drugs Market?
In 2024, the North America accounts for the largest market share in Human Insulin Drugs Market.
What years does this Human Insulin Drugs Market cover, and what was the market size in 2023?
In 2023, the Human Insulin Drugs Market size was estimated at USD 26.88 billion. The report covers the Human Insulin Drugs Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Human Insulin Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key factors driving the Insulin Market?
The key trends in the insulin market are a) Diabetes Prevalence: Diabetes numbers are rising due to factors like obesity and unhealthy diets b) Aging Population: As the population ages, the risk of diabetes increases, leading to a greater demand for insulin c) Diabetes Awareness: Growing awareness about diabetes and its risks leads to more diagnoses and treatments, including insulin.
What are the key factors driving the Insulin Market?
The key trends in the insulin market are a) Diabetes Prevalence: Diabetes numbers are rising due to factors like obesity and unhealthy diets b) Aging Population: As the population ages, the risk of diabetes increases, leading to a greater demand for insulin c) Diabetes Awareness: Growing awareness about diabetes and its risks leads to more diagnoses and treatments, including insulin.
Insulin Industry Report
The global insulin market is segmented by product type, type, and geography, offering comprehensive market analysis and insights into market share and market size. Traditional human insulins, basal or long-acting insulins, bolus or fast-acting insulins, insulin combinations, and biosimilar insulins are among the key product types analyzed. The report provides an industry analysis that highlights the market trends and the growth rate of the industry.
The industry report delves into the market segmentation, examining the market value and market forecast for various regions including North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. The market overview and market outlook sections offer a detailed understanding of the industry's dynamics, with insights into the largest companies and market leaders in the insulin market.
Industry research and industry reports indicate that the insulin market is influenced by factors such as the prevalence of diabetes and advancements in insulin delivery devices like syringes, pens, and pumps. The report pdf includes a thorough market review and market predictions, providing valuable market data for stakeholders.
The report also covers the industry size and industry statistics, giving a clear picture of the market's current state and future prospects. Industry trends and market growth are discussed in detail, offering an in-depth look at the factors driving the market. The industry outlook section provides a forward-looking perspective on the market's potential, supported by industry information and research from leading research companies.
In summary, this report example offers a comprehensive market analysis and industry outlook, with detailed insights into market segmentation, market value, and market growth. The report provides valuable industry information and industry trends, making it an essential resource for stakeholders in the global insulin market.
