The global insulin market is expected to reach USD 23.20 billion by 2030, expanding at a CAGR of 1.5% during the forecast period, according to a new report by Grand View Research, Inc. It is an oligopolistic space dominated by companies such as Novo Nordisk A/S, Sanofi, and Eli Lilly and Company. The increasing incidence of diabetes and formulation advancements in insulin delivery are the primary factors driving growth. However, the presence of biosimilars and drugs such as GLP-1 RAs for the treatment of type 2 diabetes can slow down market growth to a certain extent.

Diabetes is one of the fastest-growing chronic diseases in the world. Its prevalence has increased steadily over the past few decades. The prevalence of the disease is growing rapidly in low- and middle-income countries; three in four adults live with diabetes in these countries. According to the International Diabetes Federation (IDF) data from 2021, approximately 643 million individuals will have diabetes by 2030 and 783 million by 2045. In addition, the increase in geriatric and obese populations is another factor driving growth. The overweight population is at risk of developing type 2 diabetes mellitus. According to WHO, in 2020, 1.9 billion adults were found to be overweight, accounting for 39% of the population within that age group.

Gather more insights about the market drivers, restrains and growth of the Insulin Market

Insulin Market Report Highlights

• The long-acting insulin segment contributed a significant revenue share of 56.53% in 2021. Factors such as patent protection and high demand due to long-term effects are expected to drive the segment

• Type 1 diabetes mellitus is the largest segment by application in 2021 due to the high insulin dependency of these patients

• Insulin analog segment dominated in 2021. It is due to the higher efficacy of insulin and minimal adverse effects, such as hypoglycemic attacks and lower weight gain, as compared to conventional therapy

• The retail pharmacy segment dominated the distribution channel in 2021 due to the presence of retail pharmacy chains and tie-ups of these chains with hospitals

• North America dominated the market in terms of revenue in 2021, mainly due to the dominance of branded products and the increasing prevalence of diabetes in the region

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Insulin Market Segmentation

Grand View Research has segmented the global Insulin market based on product type, application, type, distribution channel, and regions:

Insulin Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Rapid-Acting Insulin

• Long-Acting Insulin

• Combination Insulin

• Biosimilar

• Others

Insulin Type Outlook (Revenue, USD Million, 2018 - 2030)

• Human Insulin

• Insulin Analog

Insulin Application Outlook (Revenue, USD Million, 2018 - 2030)

• Type 1 Diabetes Mellitus

• Type 2 Diabetes Mellitus

Insulin Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Retail Pharmacies

• Others

Insulin Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o Germany

o UK

o France

o Italy

o Spain

• Asia Pacific

o Japan

o China

o India

o Australia

o South Korea

• Latin America

o Brazil

o Mexico

o Argentina

• Middle East and Africa (MEA)

o South Africa

o Saudi Arabia

o UAE

Order a free sample PDF of the Insulin Market Intelligence Study, published by Grand View Research.