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Latin America Human Insulin Drugs Market Size (2024 - 2029)

The Latin America Human Insulin Drugs Market is projected to experience growth over the forecast period, driven by the high prevalence of Type-2 diabetes in the region, particularly in countries like Mexico. The market's expansion is influenced by the complex production process of insulin, which results in limited manufacturers and intense competition to meet patient demands. Despite challenges posed by the COVID-19 pandemic and inadequate protective measures for diabetic individuals, the market is expected to grow, reflecting the increasing need for insulin among the diabetic population in Latin America.

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Market Size of Latin America Human Insulin Drugs Industry

Latin America Human Insulin Drugs Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 1.51 Billion
Market Size (2029) USD 1.75 Billion
CAGR (2024 - 2029) 3.10 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

Latin America Human Insulin Drugs Market Analysis

The Latin America Human Insulin Drugs Market size is estimated at USD 1.51 billion in 2024, and is expected to reach USD 1.75 billion by 2029, growing at a CAGR of 3.10% during the forecast period (2024-2029).

The COVID-19 pandemic has been testing the capacity to respond and adapt to populations, governments, and health systems worldwide. In the Latin America region, Brazil presented the first suspected and the first confirmed cases on January 27th and February 26th, respectively. Most Latin American countries failed to implement timely measures to protect individuals with diabetes, which may severely impact individuals, health systems, and economies.

The diabetic prevalence is high in countries in the Latin American region, and Mexico is known to have a high number of diabetic patients due to the growing prevalence of Type-2 diabetes in the country. The gradually growing obesity rate, combined with the genetic predisposition for Type-2 diabetes, is acted as a prominent driver for the increase in the Type-2 diabetic population over the last 40 years. Currently, close to 10% of the total population is living with diabetes. Diabetic patients in the Latin American region mainly suffer from Type-2 diabetes, and they accounted for close to 90% of the total diabetic population in 2021.

Based on drugs, the insulin segment holds a significant share in the market. Over 100 million people around the world need insulin, including all the people suffering from Type-1 diabetes and between 10% and 25% of people with Type-2 diabetes. Production of insulin is very complex, and there are very few companies in the market that manufacture insulin. Due to this, there is high competition between these manufacturers, who always strive to meet the patient's needs to supply the best-quality insulin.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.

Latin America Human Insulin Drugs Industry Segmentation

The hormones class of drugs includes human insulin. In place of the insulin that the body ordinarily produces, human insulin is used. It assists in the movement of blood sugar into different bodily tissues, where it is utilized as an energy source. It also prevents the liver from generating more sugar. The Latin America Human Insulin Market is segmented by Drug (Basal or Long-acting Insulin, Bolus or Fast-acting Insulin, Traditional Human Insulin, Combination Insulin, and Biosimilar Insulin) and Geography (Latin America, Mexico, Brazil, and Rest of Latin America). The report offers the value (in USD million) and Volume (in Unit Million) for the above segments. We will provide a segment-wise breakdown (Value and Volume) for all the countries covered under the Table of Contents.

Insulin Drugs
Basal or Long-acting Insulins
Lantus (Insulin glargine)
Levemir (Insulin detemir)
Toujeo (Insulin glargine)
Tresiba (Insulin degludec)
Basaglar (Insulin glargine)
Bolus or Fast-acting Insulins
NovoRapid/Novolog (Insulin aspart)
Humalog (Insulin lispro)
Apidra (Insulin glulisine)
FIASP (Insulin aspart)
Admelog (Insulin lispro)
Traditional Human Insulins
Novolin/Actrapid/Insulatard
Humulin
Insuman
Combination Insulins
NovoMix (Biphasic Insulin aspart)
Ryzodeg (Insulin degludec/Insulin aspart)
Xultophy (Insulin degludec/Liraglutide)
Soliqua/Suliqua (Insulin glargine/Lixisenatide)
Biosimilar Insulins
Insulin Glargine Biosimilars
Human Insulin Biosimilars
Geography
Latin America
Mexico
Brazil
Rest of Latin America
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Latin America Human Insulin Drugs Market Size Summary

The Latin America Human Insulin Drugs Market is poised for growth, driven by the high prevalence of diabetes, particularly Type-2 diabetes, in the region. The market is characterized by a significant demand for insulin, as a substantial portion of the diabetic population relies on it for management. The complexity of insulin production and the limited number of manufacturers contribute to a competitive landscape where companies strive to meet patient needs with high-quality products. Brazil stands out as a dominant player in the market due to its substantial diabetic population and the structured health system that includes partnerships with private organizations to enhance access to essential medicines. Despite the challenges posed by the COVID-19 pandemic and the modest financial resources allocated to diabetes care, the market is expected to expand, supported by increased awareness and demand for diabetes drugs.

The market landscape is highly fragmented, with major manufacturers like Novo Nordisk, Sanofi, and Eli Lilly holding significant shares. Recent mergers and alliances, such as the one between Eli Lilly and Boehringer Ingelheim, have strengthened market presence and facilitated the development of new insulin products. The introduction of biosimilars and the ongoing clinical trials, such as Novo Nordisk's ONWARDS 5 trial, indicate a dynamic market environment with potential for innovation and expansion. While Brazil leads the market, other countries like Argentina, Colombia, and Mexico also contribute to the overall growth, supported by efforts to improve healthcare coverage and access to noncommunicable disease management.

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Latin America Human Insulin Drugs Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Drivers

    3. 1.3 Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. Market Segmentation

    1. 2.1 Insulin Drugs

      1. 2.1.1 Basal or Long-acting Insulins

        1. 2.1.1.1 Lantus (Insulin glargine)

        2. 2.1.1.2 Levemir (Insulin detemir)

        3. 2.1.1.3 Toujeo (Insulin glargine)

        4. 2.1.1.4 Tresiba (Insulin degludec)

        5. 2.1.1.5 Basaglar (Insulin glargine)

      2. 2.1.2 Bolus or Fast-acting Insulins

        1. 2.1.2.1 NovoRapid/Novolog (Insulin aspart)

        2. 2.1.2.2 Humalog (Insulin lispro)

        3. 2.1.2.3 Apidra (Insulin glulisine)

        4. 2.1.2.4 FIASP (Insulin aspart)

        5. 2.1.2.5 Admelog (Insulin lispro)

      3. 2.1.3 Traditional Human Insulins

        1. 2.1.3.1 Novolin/Actrapid/Insulatard

        2. 2.1.3.2 Humulin

        3. 2.1.3.3 Insuman

      4. 2.1.4 Combination Insulins

        1. 2.1.4.1 NovoMix (Biphasic Insulin aspart)

        2. 2.1.4.2 Ryzodeg (Insulin degludec/Insulin aspart)

        3. 2.1.4.3 Xultophy (Insulin degludec/Liraglutide)

        4. 2.1.4.4 Soliqua/Suliqua (Insulin glargine/Lixisenatide)

      5. 2.1.5 Biosimilar Insulins

        1. 2.1.5.1 Insulin Glargine Biosimilars

        2. 2.1.5.2 Human Insulin Biosimilars

    2. 2.2 Geography

      1. 2.2.1 Latin America

        1. 2.2.1.1 Mexico

        2. 2.2.1.2 Brazil

        3. 2.2.1.3 Rest of Latin America

Latin America Human Insulin Drugs Market Size FAQs

The Latin America Human Insulin Drugs Market size is expected to reach USD 1.51 billion in 2024 and grow at a CAGR of 3.10% to reach USD 1.75 billion by 2029.

In 2024, the Latin America Human Insulin Drugs Market size is expected to reach USD 1.51 billion.

Latin America Human Insulin Drugs Market Report Snapshots

Latin America Human Insulin Drugs Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)