Insulin Drugs Global Market Report 2024

The insulin drugs market size has grown rapidly in recent years. It will grow from $31.09 billion in 2023 to $34.6 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The expansion observed in the historical period can be attributed to factors such as the increase in diabetes prevalence, growth in emerging markets, an increased geriatric population, and the growth in the use of insulin analogues.

The insulin drugs market size is expected to see rapid growth in the next few years. It will grow to $51.81 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The anticipated growth in the forecast period can be attributed to factors such as the increase in disease burden, government initiatives, and a rise in research and development (R&D) activities along with collaborations. Significant trends expected in the forecast period include the launch of new products to enhance product offerings, the expansion of product portfolios and businesses through mergers and acquisitions, the adoption of strategic partnerships to promote product offerings, increased investments in research and development for the development of new insulin delivery methods, and the investment in advanced solutions to reduce R&D costs and accelerate development timelines.

The increasing prevalence of diabetes, driven by changing lifestyles marked by long working hours, reduced physical activity, and unhealthy eating habits, is anticipated to boost the demand for diabetes drugs in the forecast period. Sedentary lifestyles have been linked to a higher incidence of diabetes, and individuals suffering from obesity face up to an 80-fold increased risk of developing type 2 diabetes. Projections from the World Health Organization (WHO) indicate a concerning trend, with an expected 74% of men and 64% of women in the UK being overweight by 2030. This surge in diabetes cases is likely to propel the diabetes therapies market.

The insulin drugs market is poised for growth due to the rising prevalence of obesity, a known risk factor for diabetes. Obesity, characterized by excess body fat adversely affecting health, is closely linked to diabetes development. Insulin drugs, used in the context of obesity, can contribute to weight gain, exacerbating the obesity issue. In England, for instance, projections from the Government Digital Service indicate a 25.2% increase in obesity among individuals aged 18 and older in the period 2021–2022. The escalating rates of obesity are a key driver for the growth of the insulin drugs market.

A discernible trend in the insulin market is the increasing number of mergers and acquisitions focused on developing new formulations. Companies are actively investing in innovative medicines for diabetes treatment. Researchers at Lund University Diabetes Centre utilized CRISPR, a genome modification tool, to turn off genes responsible for diabetes, resulting in increased insulin production and decreased beta cell death. Novo Nordisk has developed a diabetes pill based on glucagon-such as peptide-1 (GLP-1s) that stimulates insulin production, anticipating significant annual sales.

Major companies in the insulin drugs market are emphasizing product innovation, exemplified by the introduction of the triple fixed-dose combination (FDC) of teneligliptin with pioglitazone and metformin. Glenmark Pharmaceuticals Limited, an Indian pharmaceutical company, launched Zita-PioMet, a triple FDC for treating type 2 diabetes and high insulin resistance. This innovation aims to improve glycemic control in adults with uncontrolled diabetes despite other treatments.

In July 2021, Eli Lilly and Company, a US-based pharmaceutical company, acquired Protomer Technologies Inc. for $1 billion. This acquisition enhances Lilly's capabilities in insulin therapy advancements, particularly in developing glucose-sensing insulin. Protomer Technologies, a pre-clinical stage biotechnology company, specializes in research and technology development for metabolic disorders, aligning with Lilly's commitment to improving the lives of diabetes patients.

Major companies operating in the insulin drugs market report are Novo Nordisk, Sanofi S.A., Eli Lilly And Company, Biocon Ltd., and Gan & Lee Pharmaceuticals, Bioton, Wockhardt Ltd., Julphar, Tonghua Dongbao Pharmaceutical, AstraZeneca, Mehar healthcare, GE Healthcare, Philips Healthcare India, Shandong WeiGao Group Medical Polymer Company Limited, Yuwell Medical Equipment & Supply Co, Terumo, NIPRO, Olympus Medical Systems, Hitachi Medico, Nihon Kohden, Fukuda Denshi, Emperra GmbH E-Health Technologies, DIABNEXT™, Berlin-Chemie AG, Ypsomed Holding AG, Patients Pending Ltd., Dexcom, Johnson and Johnson, Medtronic, Abbott Laboratories, Acon Laboratories, Ypsomed AG, Tandem Diabetes Care, Inc., Becton, Dickinson, Insulet Corporation, AJA Pharma, SEDICO Pharmaceutical Company, Pfizer.

North America was the largest region in the insulin drugs market in 2023. The Middle East is expected to be the largest growing region in the global insulin drugs market share during the forecast period. The regions covered in the insulin drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the insulin drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary product types of insulin drugs include basal or long-acting insulins, bolus or fast-acting insulins, pre-mixed insulins, and intermediate and short-acting insulins. Basal or long-acting insulins are utilized in diabetes management to provide a slow, steady release of insulin throughout the day and night. Insulin source types include insulin analogs and human insulin, while drugs are categorized into branded and generic drugs, distributed through hospital pharmacies, retail pharmacies, and online platforms. The various applications of insulin drugs encompass type II diabetes, type I diabetes, and gestational diabetes.

The insulin drugs market research report is one of a series of new reports that provides insulin drugs market statistics, including insulin drugs industry global market size, regional shares, competitors with an insulin drugs market share, detailed insulin drugs market segments, market trends and opportunities, and any further data you may need to thrive in the insulin drugs industry. This insulin drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The insulin drugs market consists of sales of rapid-acting insulin, short-acting insulin, and mixed insulin. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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