Spain Insulin Drugs And Delivery Devices Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 1.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Spain Insulin Drugs And Delivery Devices Market Analysis
The Spain Insulin Drugs and Delivery Devices Market size is estimated at USD 0.35 billion in current year, and is expected to reach USD 0.38 million by forecast year, growing at a CAGR of 1.80% during the forecast period.
One of the most significant risk factors for a severe course of COVID-19 is diabetes mellitus. This risk is believed to be influenced by several variables that are frequently present in diabetes mellitus, such as advanced age, a proinflammatory and hypercoagulable condition, hyperglycemia, and underlying comorbidities (hypertension, cardiovascular disease, chronic kidney disease, and obesity). Diabetes was quickly recognized as a risk factor for bad results during the COVID-19 pandemic. That's why managing or delaying cases of type 2 diabetes became more important than ever before. Several studies have confirmed that chronic diseases like diabetes are associated with adverse outcomes in COVID-19 patients.
Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and, thus, incur more healthcare expenses compared to non-diabetic people. People with diabetes face a higher chance of experiencing serious complications from COVID-19. In general, people with diabetes are more likely to experience severe symptoms and complications when infected with a virus. Diabetes and high glucose levels are associated with increased complications, respiratory failure, and mortality in hospitalized patients with coronavirus.
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. Thus, the COVID-19 outbreak increased the insulin market's growth.
Spain Insulin Drugs And Delivery Devices Market Trends
Rising diabetes prevalence
In Spain, the diabetes population is expected to increase by more than 2.5% over the forecast period.
According to the IDF 2021 report, diabetes prevalence in Spain reached 14.8%, or one in seven adults, the second highest rate in Europe. In addition, diabetes-related health expenditures in Spain reached 15.5 billion USD. Almost 30.3% of people living with diabetes in Spain were undiagnosed.
According to the Sociedad Espanola de Diabetes (SED), therapeutic education in diabetes has gone from being a necessity to becoming a priority and an urgency. The unstoppable increase in cases and the appearance of important developments in the control and management of the disease require, more than ever, training efforts accompanied by indispensable equity measures to facilitate the access of all people with diabetes to these new resources. The SED also recognizes the important progress made in the approach to diabetes, especially with technological advances. For example, the financing of Flash systems for people with type-2 diabetes on treatment with a bolus-basal insulin regimen has been approved.
When diabetes is undetected or inadequately treated, people with diabetes are at risk of serious and life-threatening complications, such as heart attack, stroke, kidney failure, blindness, and lower-limb amputation. These result in reduced quality of life and higher healthcare costs, leading to a greater need for access to care. Various pieces of evidence suggest that diabetes can be successfully managed, especially when detected early. Multifactorial intervention, including control of blood glucose, blood pressure, and lipids, can reduce the broad range of diabetes-related microvascular and macrovascular complications and premature mortality.
Therefore, the studied market is anticipated to witness growth over the analysis period due to rising prevalence and the aforementioned factors.
The insulin pumps segment is expected to witness the highest growth rate over the forecast period
An insulin pump is a device that delivers insulin continuously or automatically whenever required. The pump mimics the human pancreas. The insulin infusion pump works as an alternative to the traditional system of daily injections or an insulin pen.
Insulin pumps are expected to hold a major market share in the insulin delivery devices market and are expected to grow, registering a CAGR of more than 3.8% in the market over the forecast period because of their increasing technological advancement and their preference over other traditional methods due to continuous insulin administration. Insulin pump therapy is a well-established insulin administration method for people with type-1 diabetes. Pumps are a validated, time-tested therapeutic option for type-1 diabetes at all ages, enabling near-physiological insulin delivery in situations where the pancreas does not produce insulin. There are even pump models with remote controls, enabling parents of young children to either suspend or bolus insulin from a distance when the child is playing or eating. The insulin infusion pumps reduce the large swings in blood glucose levels, induce less pain, and deliver more accurately when compared to injections. These advantages of insulin pumps over the traditional delivery system are expected to boost the market.
The World Health Assembly Resolution 2022 recommended the integration of prevention and treatment of diabetes into primary health services, the development of pathways for a substantial increase in access to insulin, the promotion of convergence and harmonization of regulatory requirements for diabetes medicines and technologies, and improved diabetes monitoring and surveillance. Furthermore, it involves the WHO advising the Member States to ensure the uninterrupted treatment of people living with diabetes in humanitarian emergencies. This important milestone provides a global mandate for diabetes efforts for the next decade.
The roll-out of many new products, increasing international research collaborations in technological advancement, and increasing awareness about diabetes among people are expected to drive the market.
Spain Insulin Drugs And Delivery Devices Industry Overview
The Spanish insulin drug and delivery devices market is moderately consolidated, with a few significant and generic players. Mergers and acquisitions that have happened between the players in the recent past have helped the companies strengthen their market presence. Eli Lilly and Boehringer Ingelheim have an alliance to develop and commercialize Basaglar (Insulin Glargine). Additionally, the players in the recent past helped the companies strengthen their market presence; for example, Novo Nordisk collaborated with Ypsomed to provide better insulin therapy solutions.
Spain Insulin Drugs And Delivery Devices Market Leaders
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Eli Lilly
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Novo Nordisk
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Sanofi
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Ypsomed
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Medtronic
*Disclaimer: Major Players sorted in no particular order
Spain Insulin Drugs And Delivery Devices Market News
- November 2022: Ypsomed's mylife Loop is now authorized to work with Abbott's FreeStyle Libre 3 sensor in Germany. The mylife YpsoPump and the FreeStyle Libre 3, combined with the mylife CamAPS FX algorithm from CamDiab, form an automated insulin delivery system designed to help people with type-1 diabetes better control their glucose levels and alleviate the burden of daily diabetes management.
- August 2022: Lilly received CE (Conformité Européenne or European Conformity) marking certification for the Tempo Smart Button and planned to begin small-scale pilots in selected countries through partnerships with existing diabetes management ecosystems.
Spain 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 Biocon
7.1.5 Julphar
7.1.6 Medtronic
7.1.7 Ypsomed
7.1.8 Becton Dickinson
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
7.2.1 Insulin Drugs
7.2.1.1 Novo Nordisk
7.2.1.2 Sanofi
7.2.1.3 Eli Lilly
7.2.1.4 Other Insulin Drugs
7.2.2 Insulin Delivery Devices
7.2.2.1 Medtronic
7.2.2.2 Ypsomed
7.2.2.3 Becton Dickinson
7.2.2.4 Other Insulin Delivery Devices
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Spain Insulin Drugs And Delivery Devices Industry Segmentation
Insulin is mainly used to treat type 1 diabetes but can also be used in people with type-2 diabetes if insulin levels remain low despite using other medications. 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 Spain 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 (in mL) for insulin drugs and (in unit) for the devices for the above segments.
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Spain Insulin Drugs And Delivery Devices Market Research FAQs
What is the current Spain Insulin Drugs and Delivery Devices Market size?
The Spain Insulin Drugs and Delivery Devices Market is projected to register a CAGR of 1.8% during the forecast period (2024-2029)
Who are the key players in Spain Insulin Drugs and Delivery Devices Market?
Eli Lilly, Novo Nordisk, Sanofi, Ypsomed and Medtronic are the major companies operating in the Spain Insulin Drugs and Delivery Devices Market.
What years does this Spain Insulin Drugs and Delivery Devices Market cover?
The report covers the Spain Insulin Drugs and Delivery Devices Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Insulin Drugs and Delivery Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spain Insulin Drugs And Delivery Devices Industry Report
Statistics for the 2024 Spain Insulin Drugs And Delivery Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spain Insulin Drugs And Delivery Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
