Thailand Insulin Drugs And Delivery Devices Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2024 - 2028 |
| Market Size (2024) | USD 121 Million |
| Market Size (2028) | USD 143 Million |
| CAGR (2024 - 2028) | 3.46 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thailand Insulin Drugs And Delivery Devices Market Analysis
The Thailand Insulin Drugs and Delivery Devices Market size is estimated at USD 121 million in 2023, and is expected to reach USD 143 million by 2028, growing at a CAGR of 3.46% during the forecast period (2023-2028).
Patients with diabetes infected with COVID-19 were at risk of a severe disease course and mortality. Several factors such as impaired immune response and increased inflammatory response contributed to the increased disease severity. Doctors and health workers in Thailand used new methods for consultation and dispensing medicines to serious noncommunicable disease patients with limited mobility. After reviewing their electronic health records, noncommunicable disease case managers would contact Health Promoting Hospital staff and Community Health Volunteers and arrange for check-ups for hypertension and diabetes at home before prescribing medicines.
People with type 1 diabetes cannot produce adequate insulin because their immune system attacks their insulin-producing beta cells while people with type 2 diabetes have insulin resistance and do not make enough insulin. Diabetes patients take insulin, through an injection (syringe or pen), a pump, or in inhaled form. Thailand is facing increasing numbers of patients with diabetes due to unhealthy diets, high obesity rates, and an aging society. Like other countries in the Western Pacific region, the disease detection rate in Thailand has improved in recent years, but glycemic control remains suboptimal and significant numbers of patients suffer from complications.
Diabetes is a considerable burden as it reduces the quality of life, increases mortality, and drives up healthcare costs. The Thai government is attempting to address the threat of diabetes mellitus through programs, like ‘Thailand Healthy Lifestyle Strategic Plan 2011-2020’. Such programs will help diabetic patients understand the benefits of various diabetes products available in the market.
Thailand Insulin Drugs And Delivery Devices Market Trends
Rising diabetes prevalence
In Thailand, Diabetes Population is expected to increase with a CAGR greater than 0.76% over the forecast period.
According to Mordor Intelligence, an estimated 0.44 million people are living with diabetes in Thailand in the current year. Thailand is facing an increase in the number of diabetes patients due to a sedentary lifestyle which is more common in urban areas of Thailand. Diabetes self-management education has not yet been standardized and a multidisciplinary team approach is not widely utilized. The local initiatives have targeted reductions in specific complications, including retinopathy and diabetic foot problems, which has resulted in better disease prevention and treatment.
According to the World Health Organization estimated latest estimates, around 11% of the total health expenditure in Thailand is allocated to diabetes care, which is comparable to other countries in the region. By 2030, this figure is expected to grow by 41%, effectively doubling the societal burden of diabetes. Universal healthcare coverage has increased access to care, but inequality exists between different health plans, and non-medication diabetes supplies are not yet widely covered. In Thailand, three out of five people with diabetes who receive care do not achieve the recommended treatment targets.
Therefore, owing to the increasing diabetes prevalence the studied market is anticipated to grow over the analysis period.
The Insulin Syringes Segment is Expected to Witness Highest Growth Rate Over the Forecast Period
The Insulin Syringe Segment is expected to grow with a CAGR of more than 4.9% in the market during the forecast period.
Type 1 diabetes is caused due to the inability of the pancreas to produce insulin. Hence, type 1 patients are mostly prescribed the intake of the hormone. Usually, doctors prescribe type 2 diabetes patients to take Insulin through external sources like an Insulin syringe. The Insulin syringe can be used by any diabetic patient to take Insulin as per the recommendation of a medical expert. However, depending on the type and brand, all types of Insulin cannot be used through an Insulin syringe.
Insulin syringes are more affordable when compared to other methods of administering Insulin such as Insulin pens, etc. Hereby, the wastage of Insulin is also restricted as the units of Insulin needed can be easily read in the barrel of the syringe and only the required amount can be taken out from the Insulin bottle. Prefilled syringes have gained acceptance in the market as drug delivery systems designed for injectable drugs. Prefilled syringes provide the advantage of precise dosing, as the syringes are already loaded with a dose worth of the drug.
Thailand adopted universal health coverage, moving away from a system funded primarily by out-of-pocket payments to one funded by a mix of taxes and insurance contributions. The government is working on establishing new policy programs that can reduce the burden of healthcare costs for diabetes treatment. Along with strategic public health planning, increased collaboration between private and public sectors, enhanced professional training, increased use of technology and data management, and equitable distribution of care are all needed to improve the outcomes of patients with diabetes in Thailand.
The aforementioned factors are likely to drive segment growth during the forecast period.
Thailand Insulin Drugs And Delivery Devices Industry Overview
The Thailand Insulin Drugs and Delivery Devices Market is consolidated, with few significant and generic players. Mergers and acquisitions that happened between the players in the recent past have helped the companies strengthen their market presence.
Thailand Insulin Drugs And Delivery Devices Market Leaders
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Novo Nordisk
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Medtronic
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Sanofi
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Eli Lilly
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Becton Dickinson
*Disclaimer: Major Players sorted in no particular order
Thailand Insulin Drugs And Delivery Devices Market News
- July 2023: The World Health Organization (WHO) published the Executive Summary of the 2023 update of the Model List of Essential Medicines (EML) consisting of the inclusion of human insulin cartridges and pre-filled human insulin pens in this list and the benefits this could yield for people living with diabetes.
- 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.
Thailand 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
Thailand Insulin Drugs And Delivery Devices Industry Segmentation
Insulin drugs are prescription drugs that contain insulin and are used to treat diabetes mellitus using an insulin pump, smart pen, syringe, or other devices. The Thailand 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), Devices (Insulin Pens, Insulin Pumps, Insulin Syringes, and Jet Injectors). The report offers the value (in USD) and volume for insulin drugs and the devices (in units) for the above segments.
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Thailand Insulin Drugs And Delivery Devices Market Research Faqs
How big is the Thailand Insulin Drugs And Delivery Devices Market?
The Thailand Insulin Drugs And Delivery Devices Market size is expected to reach USD 121 million in 2024 and grow at a CAGR of 3.46% to reach USD 143 million by 2028.
What is the current Thailand Insulin Drugs And Delivery Devices Market size?
In 2024, the Thailand Insulin Drugs And Delivery Devices Market size is expected to reach USD 121 million.
Who are the key players in Thailand Insulin Drugs And Delivery Devices Market?
Novo Nordisk, Medtronic, Sanofi, Eli Lilly and Becton Dickinson are the major companies operating in the Thailand Insulin Drugs And Delivery Devices Market.
What years does this Thailand Insulin Drugs And Delivery Devices Market cover, and what was the market size in 2023?
In 2023, the Thailand Insulin Drugs And Delivery Devices Market size was estimated at USD 116.81 million. The report covers the Thailand Insulin Drugs And Delivery Devices Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Insulin Drugs And Delivery Devices Market size for years: 2024, 2025, 2026, 2027 and 2028.
Thailand Insulin Drugs And Delivery Devices Industry Report
Statistics for the 2024 Thailand Insulin Drugs And Delivery Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand 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.
