Insulin Market Size 2022-2028- Rising Popularity Of Smart Insulin Pens

Increasing prevalence of diabetes and obesity, advancements in insulin delivery devices, and rising investment to accelerate insulin research are some key factors expected to drive market growth

The global insulin market size is expected to reach USD 26.80 billion in 2028 at a CAGR of 4.2% during the forecast period, according to the latest report by Reports and Data. Increasing prevalence of diabetes and obesity across the globe, rising dependency on insulin therapy, and rapid technological advancements in insulin delivery devices are some key factors expected to drive demand for insulin and fuel market revenue growth over the forecast period. In addition, development of newer injectable formulations of insulin, growing popularity of insulin pumps and pens, and increasing collaborations among key companies to develop insulin analogs are other major factors expected to contribute to revenue growth of the market going ahead.  

Insulin is a peptide hormone comprising 51 amino acids and is secreted by islets of Langerhans of pancreas. Insulin facilitates normal uptake of glucose in blood by binding to the receptors on plasma membranes of the cells to regulate blood glucose levels. Insulin is categorized into three types including short-acting, intermediate-acting, and long-acting insulin depending on its duration of the action. Insulin is often administrated through subcutaneous, intravenous, and intramuscular routes and is widely used in hospitals to manage hyperglycemia. Insulin is the most effective treatment of diabetes and increasing employment of insulin therapy to treat diabetes is another key factor expected to drive market growth over the forecast period. Advancements in recombinant DNA technologies have enabled the development of analogs to human insulin to boost effectiveness of insulin to regulate blood glucose levels without causing adverse effects.

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Increasing research activities to develop insulin analogs and optimize insulin therapy is expected to continue to drive market growth. Insulin plays a crucial role in regulation of metabolism, and over the recent past, extensive research activities have been carried out to understand its role in various physiological processes. However, adverse effects of insulin therapy and increasing incidence of insulin resistance are expected to restrain market growth to a certain extent over the forecast period.

Some Key Highlights from the Report:

  • Basal or long-acting insulin segment is expected to account for a significantly large revenue share over the forecast period, attributable to increasing use of basal analogs to treat diabetes, for improving glycemic control in patients with problematic hypoglycemia, and can be easily used in different insulin regimens.
  • Type 1 diabetes segment is expected to register significant revenue growth over the forecast period, attributable to increasing incidence of type 1 diabetes, rising adoption of insulin injections for better management of type 1 diabetes, and availability of various insulin regimens and strategies.
  • Pens segment revenue is expected to expand at a rapid revenue CAGR over the forecast period, attributable to increasing adoption of insulin pens for self-management of diabetes, advancements in insulin pens and introduction of smart insulin pens, and availability of cost-effective disposable and reusable insulin pens.
  • Clinics segment is expected to account for a considerable revenue share in the global market over the forecast period, attributable to increasing number of diabetes clinics across the globe, presence of skilled professionals and nurses, and availability of advanced facilities at affordable prices.
  • North America is expected to dominate other regional market in terms of revenue share over the forecast period, attributable to high prevalence of diabetes and obesity due to unhealthy lifestyles and genetic conditions, increasing R&D activities to develop better treatment approaches for diabetes management, and presence of key players in the region.
  • Major companies profiled in the market report include Novo Nordisk A/S, Sanofi, Eli Lily and Company, ADOCIA, Julphar, Pfizer, Inc., Oramed Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., and GlaxoSmithKline Plc.

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For the purpose of this report, Reports and Data has segmented the insulin market based on product type, disease, delivery devices, end use, and region:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

  • Basal or Long-Acting Insulin
  • Bolus or Fast-Acting Insulin
  • Traditional Human Insulin
  • Combination Insulin
  • Biosimilar Insulin

Diseases Outlook (Revenue, USD Billion; 2018-2028)

  • Type 1 Diabetes
  • Type 2 Diabetes
  • Gestational Diabetes
  • Prediabetes

Delivery Devices Outlook (Revenue, USD Billion; 2018-2028)

  • Syringes
  • Pens
  • Pumps
  • Others

End Use Outlook (Revenue, USD Billion; 2018-2028)

  • Home healthcare
  • Hospitals
  • Over the counter (OTC)
  • Clinics
  • Others

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Region (USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China 
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Rest of MEA

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Some points on how the report benefits stakeholders:

  • The reports include historical (2018–2020) and forecast (2019–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
  • Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
  • The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
  • The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
  • Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
  • The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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