The Global Human Insulin Market size is expected to reach $20.5 billion by 2031, rising at a market growth of 3.2% CAGR during the forecast period.
Germany, France, and the United Kingdom are among the countries in Europe with a substantial diabetic population. These countries have comprehensive healthcare systems that offer extensive support for diabetes management. The availability of advanced insulin products, including analogs and innovative delivery systems, has driven the European market. Consequently, the European region would acquire nearly 31% of the total market share by 2031.
The expansion of the market is being driven by a number of significant causes, one of the most important of which is the worldwide increase in the population of diabetic patients. The development of type 2 diabetes has been facilitated by the environment created by modern lifestyles, which are characterized by a decrease in physical activity and an increase in the ingestion of unhealthy foods. Hence, the increasing prevalence of diabetes, driven by a combination of genetic, demographic, lifestyle, and environmental factors, is a primary driver of the market.
Additionally, Innovations such as insulin pens, pumps, and continuous glucose monitoring (CGM) systems have revolutionized diabetes management, enhancing patient compliance, convenience, and overall quality of life. Continuous glucose monitoring systems represent a leap forward in diabetes management technology. Thus, the continuous evolution of these technologies is a significant driver of growth in the market.
However, Insulin prices have escalated dramatically over the past several decades, far outpacing inflation and wage growth. Even in developed countries, the high cost of insulin presents a formidable challenge. Although health insurance may cover some of the cost, out-of-pocket expenses can still be prohibitively high. Hence, the high cost of insulin is hampering the market's growth.
Moreover, Economic repercussions of the pandemic strained the market. Many individuals faced financial hardships due to job losses and reduced income, which impacted their ability to afford medications, including insulin. With social distancing measures and restrictions on in-person visits, telemedicine became vital for managing diabetes remotely. Thus, the pandemic had an overall negative impact on the market.
Germany, France, and the United Kingdom are among the countries in Europe with a substantial diabetic population. These countries have comprehensive healthcare systems that offer extensive support for diabetes management. The availability of advanced insulin products, including analogs and innovative delivery systems, has driven the European market. Consequently, the European region would acquire nearly 31% of the total market share by 2031.
The expansion of the market is being driven by a number of significant causes, one of the most important of which is the worldwide increase in the population of diabetic patients. The development of type 2 diabetes has been facilitated by the environment created by modern lifestyles, which are characterized by a decrease in physical activity and an increase in the ingestion of unhealthy foods. Hence, the increasing prevalence of diabetes, driven by a combination of genetic, demographic, lifestyle, and environmental factors, is a primary driver of the market.
Additionally, Innovations such as insulin pens, pumps, and continuous glucose monitoring (CGM) systems have revolutionized diabetes management, enhancing patient compliance, convenience, and overall quality of life. Continuous glucose monitoring systems represent a leap forward in diabetes management technology. Thus, the continuous evolution of these technologies is a significant driver of growth in the market.
However, Insulin prices have escalated dramatically over the past several decades, far outpacing inflation and wage growth. Even in developed countries, the high cost of insulin presents a formidable challenge. Although health insurance may cover some of the cost, out-of-pocket expenses can still be prohibitively high. Hence, the high cost of insulin is hampering the market's growth.
Moreover, Economic repercussions of the pandemic strained the market. Many individuals faced financial hardships due to job losses and reduced income, which impacted their ability to afford medications, including insulin. With social distancing measures and restrictions on in-person visits, telemedicine became vital for managing diabetes remotely. Thus, the pandemic had an overall negative impact on the market.
Driving and Restraining Factors
Drivers
- Increasing prevalence of diabetes
- Advancements in insulin delivery systems
- Supportive government initiatives and healthcare policies
Restraints
- Substantially high cost of insulin
- Competition from alternative therapies
Opportunities
- Increasing healthcare expenditure across the globe
- Rapid urbanization and changes in lifestyle
Challenges
- Limited access in developing regions
- Strict regulatory landscape for insulin products
Indication Outlook
On the basis of indication, the market is classified into type 1 diabetes, type 2 diabetes, and gestational diabetes. The type 2 diabetes segment recorded a 40% revenue share in the market in 2023. The prevalence of type 2 diabetes is higher than that of type 1 diabetes, and it is commonly associated with lifestyle variables such as being overweight, deficient in physical activity and having an unhealthy diet.Product Type Outlook
Based on product type, the market is divided into pens, syringes, and others. The syringes segment procured 30% revenue share in the market in 2023. Affordability is a significant driver, making syringes a viable option for patients in low- and middle-income countries and those without extensive health insurance coverage.Type of Insulin Outlook
By type of insulin, the market is divided into rapid-acting insulin, short-acting insulin, intermediate-acting insulin, and others. The short-acting insulin segment garnered 23% revenue share in the market in 2023. Short-acting insulins, such as regular insulin, have an onset of action within 30 minutes to an hour and peak in about two to four hours.Distribution Channel Outlook
Based on distribution channel, the market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online providers. The drug stores & retail pharmacies segment acquired 37% revenue share in the market in 2023. Drug stores and retail pharmacies are accessible and familiar to many patients, providing a convenient option for obtaining insulin and other diabetes-related supplies.Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded 36% revenue share in the market in 2023. The region is home to a significant portion of the global diabetic population, with countries such as the US and Canada experiencing high and rising prevalence rates of diabetes.List of Key Companies Profiled
- MannKind Corporation
- Lupin Limited
- Sanofi S.A.
- Novo Nordisk A/S
- Eli Lilly And Company
- Medtronic PLC
- Biocon Limited
- Tonghua Dongbao Pharmaceutical Co., Ltd.
- Pfizer, Inc.
Market Report Segmentation
By Indication
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
By Product Type
- Pens
- Syringes
- Others
By Type of Insulin
- Rapid-acting insulin
- Short-acting insulin
- Intermediate-acting insulin
- Others
By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Providers
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Human Insulin Market by Indication
Chapter 5. Global Human Insulin Market by Product Type
Chapter 6. Global Human Insulin Market by Type of Insulin
Chapter 7. Global Human Insulin Market by Distribution Channel
Chapter 8. Global Human Insulin Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- MannKind Corporation
- Lupin Limited
- Sanofi S.A.
- Novo Nordisk A/S
- Eli Lilly And Company
- Medtronic PLC
- Biocon Limited
- Tonghua Dongbao Pharmaceutical Co., Ltd.
- Pfizer, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 268 |
| Published | August 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value ( USD | $ 16.12 Billion |
| Forecasted Market Value ( USD | $ 20.52 Billion |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
