The latest research report on the Global Insulin Market delves into the growth opportunities and development trends that are expected to shape the market up until 2031. This report offers an in-depth analysis of the market’s driving factors and challenges, utilizing both qualitative and quantitative research methodologies. Through this report, businesses can gain valuable insights into the market landscape and make informed decisions about their strategies and potential areas of growth.
Global Insulin Market is valued approximately USD 20.35 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 1.5% over the forecast period 2022-2028.
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What are Insulin and their primary function?
Insulin is a hormone produced by the pancreas that regulates the amount of glucose in the bloodstream at any given time. The insulin market is expanding as a result of factors such as rising diabetes prevalence and formulation developments. However, rising prescriptions for medications like GLP-1 RAs to treat type 2 diabetes may halt market growth. It’s an oligopolistic market dominated by Novo Nordisk A/S, Sanofi, and Eli Lilly and Company. Diabetes is one of the world’s fastest-growing chronic diseases. Its prevalence has progressively increased during the last few decades. According to the World Health Organization, diabetes will afflict 537 million adults globally in 2021, with one in ten experiencing other diabetes. Furthermore, geriatric and obese populations are predisposed to chronic diseases. According to the World Bank Group, the world old population was 727 million in 2020, and it is predicted to treble over the next three decades, reaching 1.5 billion in 2050. Another important component driving space increase is formulation advancements. Fiasp (Novo Nordisk) is a formulation of insulin aspart in a combination with niacinamide (Vitamin-B3), which helps boost the drug’s early absorption. Afrezza (Mannkind) is the market’s sole inhaled version, which eliminates the need for needles and syringes. In addition, Oramed Pharmaceuticals’ oral insulin capsule is in phase 3 clinical studies. The BLA is planned to be submitted by the end of Q4 2023. The successful launch of this product may provide patients with an alternative option. However, the high cost of insulin stifles market growth throughout the forecast period of 2022-2028.
The key regions considered for the Global Insulin Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the space in terms of revenue in 2021, owing to the dominance of branded products and the region’s increasing disease prevalence. According to the CDC, there will be roughly 37.3 million diabetics in the United States in 2020, including 28.7 million diagnosed and 8.5 million undiagnosed cases. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising geriatric and target populations, an increase in the number of collaborations for biosimilar development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
Major market players included in this report are:
- Novo Nordisk A/S
- Eli Lilly and Company
- Sanofi
- Biocon Ltd
- Wockhardt
- Boehringer Ingelheim International GmbH
- Julphar
- United Laboratories International Holdings Limited
- Tonghua Dongbao Pharmaceutical Co. Ltd.
- Pfizer
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product:
Rapid-Acting Insulin
Long-Acting Insulin
Combination Insulin
Biosimilar
Others
By Type:
Type 1 Diabetes Mellitus
Type 2 Diabetes Mellitus
By Application:
Human Insulin
Insulin Analog
By Distribution Channel:
Hospitals
Retail Pharmacies
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Insulin market, including:
- What can be expected for the Insulin market in the next decade?
- What are the primary drivers of growth in the global Insulin market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Insulin market vary based on the size of the end market?
- What is the breakdown of Insulin by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Insulin market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Insulin Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Insulin Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Insulin Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Insulin Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Insulin Market.
Our Insulin Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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