Human Insulin Drugs Market Size (2024 - 2029)

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 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.