Saudi Arabia Insulin Drugs And Delivery Devices Market Size
| Study Period | 2017 - 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2024 - 2028 |
| Market Size (2024) | USD 730 Million |
| Market Size (2028) | USD 736 Million |
| CAGR (2024 - 2028) | 0.85 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Saudi Arabia Insulin Drugs And Delivery Devices Market Analysis
The Saudi Arabia Insulin Drugs and Delivery Devices Market size is estimated at USD 730 million in 2023, and is expected to reach USD 736 million by 2028, growing at a CAGR of 0.85% during the forecast period (2023-2028).
In Saudi Arabia, most studies reported diabetes as one of the highly prevalent comorbidities among patients with COVID-19. Throughout the COVID-19 pandemic, the effects of diabetes worsened with infection, and additionally, the infection-induced new-onset diabetes in both adults and children. Diabetes management in patients with COVID-19 had several clinical challenges, requiring a much-integrated team approach to reduce the risk of medical complications and mortality. As diabetes already ranked higher among the major health issues in Saudi Arabia, there was an urgent need to provide an enhanced understanding of self-management, follow-up care, and glycemic management.
Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin it produces. The main types of diabetes are type 1 diabetes and type 2 diabetes. For a patient with type 1 diabetes, insulin therapy is important for replacing the insulin that the body doesn't produce. People with type 2 diabetes or gestational diabetes need insulin therapy if other treatments such as diabetes medications and other lifestyle changes are not able to keep blood glucose levels within the desired range. Diabetes treatment aims to maintain healthy blood glucose levels to prevent both short and long-term complications, such as cardiovascular disease, kidney disease, blindness, and lower limb amputation.
The prevalence of diabetes is growing among all ages in Saudi Arabia, which can be attributed to the increasing obese population, along with an unhealthy diet and a sedentary lifestyle. Diabetes complications result in reduced quality of life and higher healthcare costs, leading to a greater need for access to care. The rising prevalence of diabetes and obesity, growing awareness of diabetic care, healthcare expenditure, and technological advancements are a few factors that are further driving the market.
Saudi Arabia Insulin Drugs And Delivery Devices Market Trends
Rising diabetes prevalence
In Saudi Arabia, the diabetes population is expected to increase with a CAGR greater than 7.3% over the forecast period.
More than one in ten people in Saudi Arabia is currently living with diabetes and the prevalence of the disease will almost double by 2045, according to the report by the International Diabetes Federation. The IDF 2021 report mentioned that 4.27 million people in Saudi Arabia which has a population of about 34.8 million have diabetes, while a further 1.86 million people have the disease but are yet to be diagnosed. This figure will increase to 5.6 million by 2030 and further to 7.5 million by 2045. Due to the early age and longer diabetes duration, the youth is at risk of developing diabetes at a younger age, which lessens their quality of life, shortens life expectancy, and increases healthcare costs to society.
One of the main aims of diabetes treatment is to keep blood glucose levels within a specified target range which can be achieved by balancing food with activity, lifestyle, and diabetes medicines. Several initiatives, including taxing sugary drinks, fitness programs, and focusing on preventative care, are being taken by the government to stem this epidemic. Saudi Arabia is aiming to reduce the prevalence of diabetes by 10% over the next decade. The WHO Global Diabetes Compact focuses on reducing obesity and emphasizes improving the access to affordable health services and medicines for early diagnosis, and treatment of diabetes.
Such initiatives are expected to create awareness among the people regarding the management and control of diabetes, thereby enhancing the market prospects in the years to come.
The Insulin Pens Segment held the highest market share in Saudi Arabia Insulin Drugs and Delivery Devices Market in the current year
Insulin pens occupied the highest market share in the insulin delivery devices segment in the current year and are expected to register a CAGR of 1.77% over the forecast period.
Insulin pens are insulin delivery systems that are used to inject insulin into the body and are small, portable, easy to use, and come in different sizes, shapes, and colors. Some insulin pens have a built-in needle while others have a disposable needle that must be attached before each use. Insulin pens can deliver insulin through an insulin pen cartridge or a prefilled insulin pen. These devices are prescribed to people with diabetes for long-acting insulin or multiple daily insulin injections of shorter-acting insulin.
Insulin cartridges in reusable pens currently have the highest demand among all insulin delivery devices in the market. Insulin cartridges in reusable pens are an upgraded version of insulin vials. Most types of insulins are manufactured in the form of cartridges, making them easily accessible. These devices have all the functional benefits of reusable pens and are cost-effective, as these cartridges are less expensive compared to disposable insulin pens in the long run. Due to the increasing demand for insulin cartridges, most insulin device manufacturing companies have produced reusable insulin pens that are compatible with various insulin manufacturers' cartridges. Thus, cartridges are the most cost-effective way to use insulin, as reusable pens are a one-time investment, unlike disposable pens.
Saudi Government, in July 2022, announced that Saudi Arabia has seen a growing demand for quality healthcare services spurred by changes including an increasing and aging population, and a growing prevalence of diabetes. The government and private sector are both involved in working on healthcare entities, certifications, and regulations. The government is taking steps to have 100 percent of Saudi citizens covered by insurance and is working towards ensuring affordability, access, and quality digital healthcare and primary care with cost-effectiveness.
The aforementioned factors are likely to drive segment growth during the forecast period.
Saudi Arabia Insulin Drugs And Delivery Devices Industry Overview
The Saudi Arabia Insulin Drugs and Delivery Devices Market is semi-consolidated, with few significant and generic players. The major players are working on innovations in insulin drugs and devices which is evident from the companies spending on research and developments to strengthen their market presence.
Saudi Arabia Insulin Drugs And Delivery Devices Market Leaders
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Novo Nordisk
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Sanofi
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Novartis
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Eli Lilly
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Pfizer
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Insulin Drugs And Delivery Devices Market News
- October 2023: Saudi Arabia announced initiating efforts to undertake the production of insulin in the country, with the signing of a preliminary agreement. The agreement came in partnership with the Local Content and Government Procurement Authority and the Spending Efficiency and Government Projects Authority (Expro) by activating the contracting method for the localization of the industry and the transfer of knowledge. The agreement was concluded by the National Company for the Unified Purchase of Medicines, Medical Devices and Supplies (NUPCO), Sudair Pharmaceuticals Company, and Sanofi Company. The pact is expected to maximize the government’s purchasing power and achieve self-sufficiency in some priority products and sectors through localization of the manufacture of some insulin products.
- May 2023: Medtronic plc announced it has entered into a set of definitive agreements to acquire EOFlow Co. Ltd., manufacturer of the EOPatch device - a tubeless, wearable and fully disposable insulin delivery device. The addition of EOFlow, together with Medtronic's Meal Detection Technology algorithm and next-generation continuous glucose monitor (CGM), is expected to expand the company's ability to address the needs of more individuals with diabetes.
Saudi Arabia Insulin Drugs And Delivery Devices 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
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Drug
5.1.1 Basal or Long-acting Insulins
5.1.1.1 Lantus (Insulin Glargine)
5.1.1.2 Levemir (Insulin Detemir)
5.1.1.3 Toujeo (Insulin Glargine)
5.1.1.4 Tresiba (Insulin Degludec)
5.1.1.5 Basaglar (Insulin Glargine)
5.1.2 Bolus or Fast-acting Insulins
5.1.2.1 NovoRapid/Novolog (Insulin aspart)
5.1.2.2 Humalog (Insulin lispro)
5.1.2.3 Apidra (Insulin glulisine)
5.1.2.4 FIASP (Insulin aspart)
5.1.2.5 Admelog (Insulin lispro Sanofi)
5.1.3 Traditional Human Insulins
5.1.3.1 Novolin/Mixtard/Actrapid/Insulatard
5.1.3.2 Humulin
5.1.3.3 Insuman
5.1.4 Combination Insulins
5.1.4.1 NovoMix (Biphasic Insulin aspart)
5.1.4.2 Ryzodeg (Insulin degludec and Insulin aspart)
5.1.4.3 Xultophy (Insulin degludec and Liraglutide)
5.1.4.4 Soliqua/Suliqua (Insulin glargine and Lixisenatide)
5.1.5 Biosimilar Insulins
5.1.5.1 Insulin Glargine Biosimilars
5.1.5.2 Human Insulin Biosimilars
5.2 Device
5.2.1 Insulin Pumps
5.2.1.1 Insulin Pump Devices
5.2.1.2 Insulin Pump Reservoirs
5.2.1.3 Insulin Infusion sets
5.2.2 Insulin Pens
5.2.2.1 Cartridges in reusable pens
5.2.2.2 Disposable insulin pens
5.2.3 Insulin Syringes
5.2.4 Insulin Jet Injectors
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Novo Nordisk
7.1.2 Sanofi
7.1.3 Eli Lilly
7.1.4 Gan & Lee
7.1.5 Biocon
7.1.6 Julphar
7.1.7 Medtronic
7.1.8 Ypsomed
7.1.9 Becton Dickinson
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Saudi Arabia Insulin Drugs And Delivery Devices Industry Segmentation
There are different ways to inject insulin into a patient’s body using syringes, pens, pumps, and jet injectors giving them various options for insulin delivery. The Saudi Arabia Insulin Drugs and Delivery Devices Market is segmented into Drugs (Basal or Long-acting Insulins, Bolus or Fast-acting Insulins, Traditional Human Insulins, Combination Insulins, and Biosimilar Insulins) and Devices (Insulin Pens, Insulin Pumps, Insulin Syringes, and Jet Injectors). The report offers the value (in USD) and volume for insulin drugs and (in units) for the devices for the above segments.
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Saudi Arabia Insulin Drugs And Delivery Devices Market Research Faqs
How big is the Saudi Arabia Insulin Drugs And Delivery Devices Market?
The Saudi Arabia Insulin Drugs And Delivery Devices Market size is expected to reach USD 730 million in 2024 and grow at a CAGR of 0.85% to reach USD 736 million by 2028.
What is the current Saudi Arabia Insulin Drugs And Delivery Devices Market size?
In 2024, the Saudi Arabia Insulin Drugs And Delivery Devices Market size is expected to reach USD 730 million.
Who are the key players in Saudi Arabia Insulin Drugs And Delivery Devices Market?
Novo Nordisk, Sanofi, Novartis, Eli Lilly and Pfizer are the major companies operating in the Saudi Arabia Insulin Drugs And Delivery Devices Market.
What years does this Saudi Arabia Insulin Drugs And Delivery Devices Market cover, and what was the market size in 2023?
In 2023, the Saudi Arabia Insulin Drugs And Delivery Devices Market size was estimated at USD 723.79 million. The report covers the Saudi Arabia Insulin Drugs And Delivery Devices Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia Insulin Drugs And Delivery Devices Market size for years: 2024, 2025, 2026, 2027 and 2028.
Saudi Arabia Insulin Drugs And Delivery Devices Industry Report
Statistics for the 2024 Saudi Arabia Insulin Drugs And Delivery Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Insulin Drugs And Delivery Devices analysis includes a market forecast outlook for 2024 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
