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Insulin Market
Analysts’ Viewpoint on Global Market Scenario
The global market is driven by technological advancements, surge in R&D funding, increase in government support, and rise in prevalence of diabetes. In addition, R&D activities in the insulin market are rising, as researchers across the globe are striving to develop a superior insulin molecule for diabetes patients that increases efficiency and curbs side effects. Moreover, the market is anticipated to witness growth due to no price-cap regulation on drugs as a result of which several key pharmaceutical companies are increasing the prices of generic drugs, including insulin. The global market players can also leverage opportunities in the premixed insulin segment, due to their ease of use and portability, and premixed insulin conveyance gadgets.
Insulin is a hormone produced by the human pancreas that controls the amount of glucose (sugar) levels in the bloodstream and regulates the human body’s metabolism of fats, proteins, and carbohydrates. Insulin is available in various strengths; the most common is U-100, which is used as an adjunct to diet and exercise in order to improve glycemic control in children and adults.
The growth of the global market can be attributed to key factors such as a rise in demand for human insulin analogs and favorable reimbursements. Technological innovations in the field of human insulin delivery devices also augment the market. For instance, in August 2020, the U.S. FDA granted approval for the MiniMed 770G System, an innovative diabetes management device. This device automatically monitors glucose and delivers correct basal insulin doses with little input from the customers (caregivers) for pediatric patients with type 1 diabetes.
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Insulin is a pharmaceutical preparation of the protein hormone insulin that is utilized as a medication to treat multiple conditions such as type 2 diabetes, gestational diabetes, type 1 diabetes, and complications of diabetes. The demand for insulin is anticipated to increase due to the surge in the incidence of diabetes across the globe. According to research conducted by the World Health Organization (WHO), diabetes was the ninth leading cause of death, with an estimated 1.5 million deaths due to diabetes reported in 2019.
Moreover, as per the International Diabetes Federation (IDF), the number of patients suffering from diabetes is expected to rise to 643 million by 2030 and 783 million by the end of 2045. Furthermore, around 10% of all adults in China - approximately 110 million people - currently live with diabetes, and the number is likely to reach 150 million by the end of 2040. The statistics mentioned above indicate that the demand for insulin is expected to increase during the forecast period.
The increase in the number of year-on-year patent expiry of blockbuster drugs is paving the way for the entry of generic drugs into the market, which would lead to a decrease in drug spending. Hence, in order to take the pressure off health insurers, prices of drugs that are in demand (insulin and others) would continue to rise. Several big pharmaceutical manufacturers are increasing the prices of their blockbuster drugs still under patent protection. This rise in pricing would offset the sales of drugs for which generics are available.
According to various analysts, major companies in the insulin business such as Novartis, Eli Lilly, and Sanofi have increased the prices of their insulin products. Several other drug makers are also adopting strategies to boost prices depending on competition, approval of pipeline candidates, and expected entry of generics. Moreover, insulin prices are determined by multinational players even in the regional markets. Domestic players in the market play at very thin profit margins, whereas dominating players hold a large share of the market due to the high prices of their premium products. Therefore, this freedom of raising prices helps companies increase revenue, which consequently fuels the growth of the insulin market.
In terms of mode of action, the global market has been classified into rapid-acting, short-acting, intermediate-acting, premixed, and long-acting. The premixed segment is projected to witness strong growth during the forecast period, primarily due to an increase in focus on advanced headways of premixed insulin conveyance gadgets. An increase in the number of diabetes patients, especially in countries in Asia, excellent clinical repayments, and growing business sector interest in premixed insulin analogs drive the premixed segment.
Low maintenance and ease of installation & handling of monoplane HBOT devices are projected to boost the growth of the segment during the forecast period. In addition, a rise in penetration of these devices to provide user-friendly operability and portability is anticipated to propel the segment in the next few years.
Stringent regulatory policies of government authorities for product approval hamper the growth of the global market. Moreover, the high cost of product manufacturing is likely to restrain the global market during the forecast period. A general lack of transparency on insulin market data and less health-focused market research, particularly in developing countries, are expected to negatively impact the growth of the global market further.
In terms of region, the global insulin industry has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is expected to be the largest insulin market during the forecast period. The presence of key manufacturers including Eli Lilly and Company and Becton, Dickinson, and Company is a significant factor driving the market in the region.
Furthermore, the high prevalence of diabetes across the U.S. and Canada due to sedentary lifestyles and the official launch of novel drugs are likely to drive the market in North America. Moreover, the rise in the prevalence of obesity and the increase in awareness about diabetes care in the region propel the market in the region.
This report profiles key players in the global market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. The global market is quite competitive, with the top 10 players accounting for a key share of the market, and companies focusing on research & development to produce better pharmaceutical and vaccine products for existing diseases.
Leading players operating in the global and China market are Shanghai Fosun Pharmaceutical Co., Ltd., Tonghua Dongbao, Eli Lilly and Company, Sanofi, Novo Nordisk A/S, Julphar, Biocon Ltd., Becton, Dickinson and Company, Ypsomed AG, Biodel, Inc., and B. Braun Melsungen AG.
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Key players in the global market are engaged in regulatory approvals, technologically advanced products, the launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to drive the global market. A few strategies adopted by players operating in the global market are:
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Attribute |
Detail |
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Market Size Value in 2021 |
US$ 18.5 Bn |
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Market Forecast Value in 2031 |
US$ 30 Bn |
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Growth Rate (CAGR) |
4.3% |
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Forecast Period |
2022–2031 |
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Historical Data Available for |
2017–2020 |
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Market Analysis |
It includes cross-segment analysis at the global as well as regional levels. Moreover, the qualitative analysis includes drivers, restraints, opportunities, key trends, and parent industry overview. |
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Competition Landscape |
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Format |
Electronic (PDF) + Excel |
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Market Segmentation |
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Regions Covered |
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Countries Covered |
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Companies Profiled |
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Customization Scope |
Available upon request |
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Pricing |
Available upon request |
The global market for insulin was valued at US$ 18.5 Bn in 2021
The global insulin market will surpass US$ 30 Bn by 2031
The global market recorded a CAGR of 4.5% from 2017 to 2021
The insulin industry is anticipated to record a CAGR of 4.3% from 2022 to 2031
The increase in the patient population with diabetes worldwide and rising government support positively impact the global market for insulin.
The modern insulin segment held over 70% share of the global market in 2021
Prominent players in the global insulin market include Eli Lilly and Company, Sanofi, Novo Nordisk A/S, Julphar, Biocon Ltd., etc.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Insulin Market
4. Market Overview
4.1. Introduction
4.1.1. Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Insulin Market Analysis and Forecast, 2017–2031
5. Key Insights
5.1. Regulatory Scenario, by Region/globally
5.2. Key Mergers & Acquisitions
5.3. Technological Advancements
5.4. COVID-19 Pandemics Impact on Industry
6. Global Insulin Market Analysis and Forecast, by Mode of Action
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Mode of Action, 2017–2031
6.3.1. Rapid-acting
6.3.2. Short-acting
6.3.3. Intermediate-acting
6.3.4. Premixed
6.3.5. Long-acting
6.4. Market Attractiveness Analysis, by Mode of Action
7. Global Insulin market Analysis and Forecast, by Source
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by Source, 2017–2031
7.3.1. Modern Insulin
7.3.2. Human Insulin
7.4. Market Attractiveness Analysis, by Source
8. Global Insulin market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Market Value Forecast, by Region
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Market Attractiveness Analysis, by Region
9. North America Insulin Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. Market Value Forecast, by Mode of Action, 2017–2031
9.2.1. Rapid-acting
9.2.2. Short-acting
9.2.3. Intermediate-acting
9.2.4. Premixed
9.2.5. Long-acting
9.3. Market Value Forecast, by Source, 2017–2031
9.3.1. Modern Insulin
9.3.2. Human Insulin
9.4. Market Value Forecast, by Country, 2017–2031
9.4.1. U.S.
9.4.2. Canada
9.5. Market Attractiveness Analysis
9.5.1. By Mode of Action
9.5.2. By Source
9.5.3. By Country
10. Europe Insulin Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Mode of Action, 2017–2031
10.2.1. Rapid-acting
10.2.2. Short-acting
10.2.3. Intermediate-acting
10.2.4. Premixed
10.2.5. Long-acting
10.3. Market Value Forecast, by Source, 2017–2031
10.3.1. Modern Insulin
10.3.2. Human Insulin
10.4. Market Value Forecast, by Country/Sub-region, 2017–2031
10.4.1. Germany
10.4.2. U.K.
10.4.3. France
10.4.4. Italy
10.4.5. Spain
10.4.6. Rest of Europe
10.5. Market Attractiveness Analysis
10.5.1. By Mode of Action
10.5.2. By Source
10.5.3. By Country/Sub-region
11. Asia Pacific Insulin Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Mode of Action, 2017–2031
11.2.1. Rapid-acting
11.2.2. Short-acting
11.2.3. Intermediate-acting
11.2.4. Premixed
11.2.5. Long-acting
11.3. Market Value Forecast, by Source, 2017–2031
11.3.1. Modern Insulin
11.3.2. Human Insulin
11.4. Market Value Forecast, by Country/Sub-region, 2017–2031
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia & New Zealand
11.4.5. Rest of Asia Pacific
11.5. Market Attractiveness Analysis
11.5.1. By Mode of Action
11.5.2. By Source
11.5.3. By Country/Sub-region
12. Latin America Insulin Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Mode of Action, 2017–2031
12.2.1. Rapid-acting
12.2.2. Short-acting
12.2.3. Intermediate-acting
12.2.4. Premixed
12.2.5. Long-acting
12.3. Market Value Forecast, by Source, 2017–2031
12.3.1. Modern Insulin
12.3.2. Human Insulin
12.4. Market Value Forecast, by Country/Sub-region, 2017–2031
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America
12.5. Market Attractiveness Analysis
12.5.1. By Mode of Action
12.5.2. By Source
12.5.3. By Country/Sub-region
13. Middle East & Africa Insulin Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Market Value Forecast, by Mode of Action, 2017–2031
13.2.1. Rapid-acting
13.2.2. Short-acting
13.2.3. Intermediate-acting
13.2.4. Premixed
13.2.5. Long-acting
13.3. Market Value Forecast, by Source, 2017–2031
13.3.1. Modern Insulin
13.3.2. Human Insulin
13.3.3. Infection Treatment
13.3.4. Gas Embolism
13.4. Market Value Forecast, by Country/Sub-region, 2017–2031
13.4.1. GCC Countries
13.4.2. South Africa
13.4.3. Rest of Middle East & Africa
13.5. Market Attractiveness Analysis
13.5.1. By Mode of Action
13.5.2. By Source
13.5.3. By Country
14. Competition Landscape
14.1. Market Player - Competition Matrix (by tier and size of companies)
14.2. Market Share Analysis, by Company, 2021
14.3. Company Profiles
14.3.1. Shanghai Fosun Pharmaceutical Co., Ltd.
14.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.1.2. Financial Analysis
14.3.1.3. Growth Strategies
14.3.1.4. SWOT Analysis
14.3.2. Tonghua Dongbao
14.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.2.2. Financial Analysis
14.3.2.3. Growth Strategies
14.3.2.4. SWOT Analysis
14.3.3. Eli Lilly and Company
14.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.3.2. Financial Analysis
14.3.3.3. Growth Strategies
14.3.3.4. SWOT Analysis
14.3.4. Sanofi
14.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.4.2. Financial Analysis
14.3.4.3. Growth Strategies
14.3.4.4. SWOT Analysis
14.3.5. Novo Nordisk A/S
14.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.5.2. Financial Analysis
14.3.5.3. Growth Strategies
14.3.5.4. SWOT Analysis
14.3.6. Julphar
14.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.6.2. Financial Analysis
14.3.6.3. Growth Strategies
14.3.6.4. SWOT Analysis
14.3.7. Biocon Ltd.
14.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.7.2. Financial Analysis
14.3.7.3. Growth Strategies
14.3.7.4. SWOT Analysis
14.3.8. Becton, Dickinson and Company
14.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.8.2. Financial Analysis
14.3.8.3. Growth Strategies
14.3.8.4. SWOT Analysis
14.3.9. Ypsomed AG
14.3.9.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.9.2. Financial Analysis
14.3.9.3. Growth Strategies
14.3.9.4. SWOT Analysis
14.3.10. Biodel Inc.
14.3.10.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.10.2. Financial Analysis
14.3.10.3. Growth Strategies
14.3.10.4. SWOT Analysis
14.3.11. B. Braun Melsungen AG
14.3.11.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.11.2. Financial Analysis
14.3.11.3. Growth Strategies
14.3.11.4. SWOT Analysis
List of Tables
Table 1: Market Snapshot: Global Insulin Market
Table 2: Global Prevalence of Diabetes, by Type
Table 3: Global Insulin Market Revenue (US$ Mn), by Mode of Action, 2017–2031
Table 4: Global Insulin Market Revenue (US$ Mn), by Source, 2017–2031
Table 5: Global Insulin Market Revenue (US$ Mn), by Region, 2017–2031
Table 6: North America Insulin Market Revenue (US$ Mn), by Mode of Action, 2017–2031
Table 7: Europe Insulin Market Revenue (US$ Mn), by Mode of Action, 2017–2031
Table 8: Asia Pacific Insulin Market Revenue (US$ Mn), by Mode of Action, 2017–2031
Table 9: Latin America Insulin Market Revenue (US$ Mn), by Mode of Action, 2017–2031
Table 10: Middle East & Africa Insulin Market Revenue (US$ Mn), by Mode of Action, 2017–2031
List of Figures
Figure 1: Insulin: Market Segmentation
Figure 2: Global Insulin Market Revenue (US$ Mn), by Mode of Action, 2021
Figure 3: China Insulin Market Revenue (US$ Mn), by Mode of Action, 2021
Figure 4: Value Chain: Global Insulin Market
Figure 5: Porter’s Five Forces Analysis: Global Insulin Market
Figure 6: Market Attractiveness Analysis: Global Insulin Market, by Mode of Action
Figure 7: Comparative Analysis: Global Insulin Market Revenue (US$ Mn), by Mode of Action 2021 & 2031
Figure 8: Global Short-Acting Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 9: Global Short-Acting Insulin Market Volume (tMU), 2017 – 2031
Figure 10: Global Rapid-Acting Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 11: Global Rapid-Acting Insulin Market Volume (tMU), 2017 – 2031
Figure 12: Global Afrezza Market Revenue (US$ Mn), 2017 – 2031
Figure 13: Global NN1218 Market Revenue (US$ Mn), 2017 – 2031
Figure 14: Global Long-Acting Insulin Market Revenue, 2017 – 2031
Figure 15: Global Long-Acting Insulin Market Volume (tMU), 2017 – 2031
Figure 16: Global LY2605541 Market Revenue (US$ Mn), 2017 – 2031
Figure 17: Global LY2963016 Market Revenue (US$ Mn), 2017 – 2031
Figure 18: Global MK-1293 Market Revenue (US$ Mn), 2017 – 2031
Figure 19: Global U-300 Market Revenue (US$ Mn), 2017 – 2031
Figure 20: Global IDegLira Market Revenue (US$ Mn), 2017 – 2031
Figure 21: Global Intermediate-acting Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 22: Global Intermediate-acting Insulin Market Volume (tMU), 2017 – 2031
Figure 23: Global Premixed Market Revenue (US$ Mn), 2017 – 2031
Figure 24: Global Premixed Insulin Market Volume (tMU), 2017 – 2031
Figure 25: Breakdown of insulin-dependent population in China (2009)
Figure 26: China Short-Acting Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 27: China Short-Acting Insulin Market Volume (tMU), 2017 – 2031
Figure 28: China Rapid-Acting Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 29: China Rapid-Acting Insulin Market Volume (tMU), 2017 – 2031
Figure 30: China Long-Acting Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 31: China Long-Acting Insulin Market Volume (tMU), 2017 – 2031
Figure 32: China Intermediate-Acting Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 33: China Intermediate-Acting Insulin Market Volume (tMU), 2017 – 2031
Figure 34: China Premixed Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 35: China Premixed Insulin Market Volume (tMU), 2017 – 2031
Figure 36: Global Human Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 37: Global Human Insulin Market Volume (tMU), 2017 – 2031
Figure 38: Global Modern Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 39: Global Modern Insulin Market Volume (tMU), 2017 – 2031
Figure 40: China Human Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 41: China Human Insulin Market Volume (tMU), 2017 – 2031
Figure 42: China Modern Insulin Market Revenue (US$ Mn), 2017 – 2031
Figure 43: China Modern Insulin Market Volume (tMU), 2017 – 2031
Figure 44: Global Insulin Market Share Analysis, by Key Players, 2021 (%)
Figure 45: Global Insulin Market Share Analysis, by Key Players, 2021 (%)
Figure 46: Eli Lilly and Company: Annual Revenue (US$ Mn), 2017 – 2031
Figure 47: Novo Nordisk A/S.: Annual Revenue (US$ Mn), 2017 – 2031
Figure 48: Sanofi: Annual Revenue (US$ Mn), 2017 – 2031
Figure 49: Shanghai Fosun Pharmaceutical Co., Ltd.: Annual Revenue (US$ Mn), 2017 – 2031
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*86 figures and 60 tables includes