Insulin Market by Drug (Biologic, Biosimilar), Type (Intermediate-acting Insulin, Long-acting Insulin, Premixed Insulin), Application - Global Forecast 2024-2030
Description
Insulin Market by Drug (Biologic, Biosimilar), Type (Intermediate-acting Insulin, Long-acting Insulin, Premixed Insulin), Application - Global Forecast 2024-2030
The Insulin Market size was estimated at USD 43.64 billion in 2023 and expected to reach USD 46.76 billion in 2024, at a CAGR 7.63% to reach USD 73.03 billion by 2030.
The insulin market encompasses the production, distribution, and consumption of various insulin types used to treat diabetes mellitus, a chronic metabolic disorder affecting millions worldwide. The primary application of insulin is to control blood sugar levels in patients with type 1 diabetes who lack natural insulin production and those with type 2 diabetes who have developed insufficient or insufficient insulin release. The scope of this market includes human insulin, modern insulins such as rapid-acting and long-acting, and biosimilar insulins. Increasing prevalence of diabetes due to aging populations, improved access to healthcare services, increased awareness about diabetes management, and supportive government initiatives to expand the use and production of insulin. On the other hand, the high cost of insulin and the complex regulatory environment hinder the market growth. However, advancements in biotechnology, which have led to development of novel insulins and increasing approval rates, are expected to proliferate the market growth in the coming years.
Regional Insights
In the Americas region, North America dominates the insulin market due to the presence of key players, better healthcare infrastructure, and increased awareness regarding disease management. Factors such as government initiatives for early diagnosis and treatment of diabetes are also contributing significantly to this growth. South America is witnessing rising cases of diabetes amidst its rapidly aging population. Countries such as Mexico and Brazil have introduced national policies focusing on preventing and controlling non-communicable diseases, including diabetes, further accelerating market expansion in the region. The Asia-Pacific region is fast emerging as a major market for insulin due to its improvements in healthcare infrastructure and product availability. Furthermore, APAC countries have invested heavily in research and development to produce cost-effective insulin products. In recent years, there has been a surge in the adoption of advanced insulin delivery systems, such as insulin pens and pumps, in the region. As more people become aware of diabetes management options, the demand for insulin and associated devices is projected to increase across APAC countries. Western Europe’s insulin market is growing rapidly due to its well-established healthcare infrastructure and increased accessibility to innovative insulin therapies. In the Middle East and Africa region, improving healthcare infrastructure and efforts made by government and international organizations support insulin market growth. Countries such as South Africa are introducing policies to combat non-communicable diseases, including diabetes, through health promotion strategies, which could drive market growth in this area.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Insulin Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Rising incidence of diabetes and obesity with increasing geriatric population
- Rapid development in insulin delivery systems
- Favorable reimbursement policies for insulin products in developed countries
- Market Restraints
- High cost associated with insulin drugs
- Market Opportunities
- Potential investments in R&D activities for insulin development
- Rising approvals for interchangeable biosimilar insulin products
- Market Challenges
- Complex regulatory landscape and problems related to patient adherence to treatment regimens
- Market Segmentation Analysis
- Drug: Significant use of biologic drugs due to having safety, efficacy, and innovative features
- Type: Long-acting insulins provide basal coverage for an extended duration
- Application: Extensive use of insulin by type I diabetic patients requires constant monitoring and timely administration of insulin
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Insulin Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Insulin Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Insulin Maker GeneSys to Invest USD 50-60 MN to Set Up Plant in Hyderabad
GeneSys Biologics has announced making a significant investment of USD 50-60 million to establish a state-of-the-art recombinant bulk manufacturing facility in Genome Valley, India, primarily focusing on insulin analogs production. The Hyderabad-based company has already allocated around USD 50 million to develop its Genome Valley plant. To ensure affordability and accessibility, GeneSys has partnered with Civica Inc., a reputable non-profit generic drug company based in the United States. This collaboration aims to manufacture and distribute affordable insulin.
Gulf Pharmaceutical Industries 'Julphar' Signs Landmark Agreement with Sunshine Lake Pharma to Pioneer Insulin Biosimilar Manufacturing in MENA
Gulf Pharmaceutical Industries (Julphar) entered into a strategic licensing agreement with Sunshine Lake Pharma Co., Ltd., a Chinese pharmaceutical company. This agreement is a significant milestone for Julphar as it grants them the license and technology transfer of Insulin Glargine and Insulin Aspart products, specifically for managing type I and type II diabetes. By leveraging this agreement, Julphar is effectively expanding its diabetes medication portfolio and introducing modern Insulin biosimilar products to the region.
Sanofi Launches New Long-Acting Insulin Drug in India
Sanofi S.A. has recently obtained marketing authorization from the Central Drugs Standard Control Organization for its diabetes treatment drug, Soliqua, in India. This medication is specifically designed for adults with type 2 diabetes and obesity who have inadequate control over their condition through oral or injectable therapies. Soliqua combines insulin glargine and lixisenatide in fixed-ratio combinations of 10-40 and 30-60, respectively.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Insulin Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Insulin Market, highlighting leading vendors and their innovative profiles. These include ADOCIA, AstraZeneca PLC, Baxter International, Inc., Biocon Limited, Bioton S.A., CardioVends, Eli Lilly and Company, Eva Pharma, GeneSys Biologics, Glenmark Pharmaceuticals Ltd., Gulf Pharmaceutical Industries (Julphar), MannKind Corporation, Merck & Co., Inc., MJ Biopharm Pvt. Ltd., Novartis AG, Novo Nordisk A/S, Oramed Pharmaceuticals Inc., Pfizer Inc., Sanofi Group, Tonghua Dongbao Pharmaceutical Co., Ltd., Viatris Inc., Wockhardt Limited, and Zealand Pharma A/S.
Market Segmentation & Coverage
This research report categorizes the Insulin Market to forecast the revenues and analyze trends in each of the following sub-markets:- Drug
- Biologic
- Biosimilar
- Type
- Intermediate-acting Insulin
- Long-acting Insulin
- Premixed Insulin
- Rapid-acting Insulin
- Short-acting Insulin
- Application
- Type I Diabetes
- Type II Diabetes
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
Table of Contents
190 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Rising incidence of diabetes and obesity with increasing geriatric population
- 5.1.1.2. Rapid development in insulin delivery systems
- 5.1.1.3. Favorable reimbursement policies for insulin products in developed countries
- 5.1.2. Restraints
- 5.1.2.1. High cost associated with insulin drugs
- 5.1.3. Opportunities
- 5.1.3.1. Potential investments in R&D activities for insulin development
- 5.1.3.2. Rising approvals for interchangeable biosimilar insulin products
- 5.1.4. Challenges
- 5.1.4.1. Complex regulatory landscape and problems related to patient adherence to treatment regimens
- 5.2. Market Segmentation Analysis
- 5.2.1. Drug: Significant use of biologic drugs due to having safety, efficacy, and innovative features
- 5.2.2. Type: Long-acting insulins provide basal coverage for an extended duration
- 5.2.3. Application: Extensive use of insulin by type I diabetic patients requires constant monitoring and timely administration of insulin
- 5.3. Market Trend Analysis
- 5.3.1. Established healthcare infrastructure and development of affordable product have supplemented market growth across the Americas
- 5.3.2. Government support to increase accessibility and usage of insulin in APAC region
- 5.3.3. Research & development activities and availability of reimbursement policies for insulin in the EMEA region
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 6. Insulin Market, by Drug
- 6.1. Introduction
- 6.2. Biologic
- 6.3. Biosimilar
- 7. Insulin Market, by Type
- 7.1. Introduction
- 7.2. Intermediate-acting Insulin
- 7.3. Long-acting Insulin
- 7.4. Premixed Insulin
- 7.5. Rapid-acting Insulin
- 7.6. Short-acting Insulin
- 8. Insulin Market, by Application
- 8.1. Introduction
- 8.2. Type I Diabetes
- 8.3. Type II Diabetes
- 9. Americas Insulin Market
- 9.1. Introduction
- 9.2. Argentina
- 9.3. Brazil
- 9.4. Canada
- 9.5. Mexico
- 9.6. United States
- 10. Asia-Pacific Insulin Market
- 10.1. Introduction
- 10.2. Australia
- 10.3. China
- 10.4. India
- 10.5. Indonesia
- 10.6. Japan
- 10.7. Malaysia
- 10.8. Philippines
- 10.9. Singapore
- 10.10. South Korea
- 10.11. Taiwan
- 10.12. Thailand
- 10.13. Vietnam
- 11. Europe, Middle East & Africa Insulin Market
- 11.1. Introduction
- 11.2. Denmark
- 11.3. Egypt
- 11.4. Finland
- 11.5. France
- 11.6. Germany
- 11.7. Israel
- 11.8. Italy
- 11.9. Netherlands
- 11.10. Nigeria
- 11.11. Norway
- 11.12. Poland
- 11.13. Qatar
- 11.14. Russia
- 11.15. Saudi Arabia
- 11.16. South Africa
- 11.17. Spain
- 11.18. Sweden
- 11.19. Switzerland
- 11.20. Turkey
- 11.21. United Arab Emirates
- 11.22. United Kingdom
- 12. Competitive Landscape
- 12.1. Market Share Analysis, 2023
- 12.2. FPNV Positioning Matrix, 2023
- 12.3. Competitive Scenario Analysis
- 12.3.1. Insulin Maker GeneSys to Invest USD 50-60 MN to Set Up Plant in Hyderabad
- 12.3.2. Gulf Pharmaceutical Industries 'Julphar' Signs Landmark Agreement with Sunshine Lake Pharma to Pioneer Insulin Biosimilar Manufacturing in MENA
- 12.3.3. Sanofi Launches New Long-Acting Insulin Drug in India
- 12.3.4. California, Drugmaker Partner to Produce Affordable Insulin
- 12.3.5. Novo Nordisk to Launch Once-a-Week Insulin Regime for Indian Patients
- 12.3.6. ADOCIA Announces the Successful Phase 1 Study for BioChaperone Lispro with Partner Tonghua Dongbao
- 12.3.7. Glenmark Launches Type 2 Diabetes and High Insulin Resistance Drug in India; Shares Jump
- 12.3.8. Lilly and EVA Pharma Announce Collaboration to Enhance Sustainable Access to Affordable Insulin in Africa
- 12.3.9. Novo Nordisk Launches Unbranded Biologic of Tresiba Analog Insulin to Expand Affordability Options for Patients
- 12.3.10. Optum, Sanofi Partner on Low Cost Insulin for the Uninsured
- 13. Competitive Portfolio
- 13.1. Key Company Profiles
- 13.2. Key Product Portfolio
Pricing
Currency Rates
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