Global Insulin Market Outlook 2031

  • The global insulin market was valued at US$ 18.5 Bn in 2021
  • The market is estimated to grow at a CAGR of 4.3% from 2022 to 2031
  • The global insulin market is expected to cross value of US$ 30 Bn by the end of 2031

Analysts’ Viewpoint on Global Insulin Market Scenario

The global insulin 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 market

Overview of Global Insulin Market

Insulin is a hormone produced by human pancreas that controls the amount of glucose (sugar) levels in the bloodstream, and regulates 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 insulin market can be attributed to key factors such as rise in demand for human insulin analogs and favorable reimbursements. Technological innovations in the field of human insulin delivery devices also augments the global insulin 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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Increase in Incidence of Diabetes Globally to Drive Demand for Insulin

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 incidence of diabetes across the globe. According to a 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. Statistics mentioned above indicate that the demand for insulin is expected to increase during the forecast period.

No Strict Regulations on Price Cap to Drive Global Market

The increase in the number of year-on-year patent expiry of blockbuster drugs is paving the way for entry of generic drugs in the market, which would lead to 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 market 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 large share of the market due to 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.

Premixed Insulin to Witness Extensive Demand

In terms of mode of action, the global insulin market has been classified into rapid-acting, short-acting, intermediate-acting, premixed, long-acting. The premixed segment is projected to witness strong growth during the forecast period, primarily due to increase in focus on advanced headways of premixed insulin conveyance gadgets. Increase in the number of diabetes patients, especially in countries in Asia, excellent clinical repayments, and growing business sector interest for premixed insulin analogs drive the premixed segment.

Low maintenance and ease of installation & handling of monoplace HBOT devices is projected to boost the growth of the segment during the forecast period. In addition, 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 Requirements and High Product Manufacturing Costs to Restrain Market

Stringent regulatory policies of government authorities for product approval hamper the growth of the global insulin market. Moreover, high cost of product manufacturing is likely to restrain the global insulin market during the forecast period. General lack of transparency on insulin industry data and less health-focused market research, particularly in the developing countries, are expected to negatively impact the growth of the global insulin market further.

Regional Outlook of Global Insulin Market

In terms of region, the global insulin market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is expected to be the largest market for insulin 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 official launch of novel drugs are likely to drive the market in North America. Moreover, rise in prevalence of obesity and increase in awareness about diabetes care in the region propel the insulin market in the region.

Analysis of Key Players in Global Insulin Market

This report profiles key players in the global insulin market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. The global insulin market is quite competitive, with the top 10 players accounting for key share of the market, and companies focusing on research & development to produce better pharmaceutical and vaccine products for the existing diseases.

Leading players operating in the global and China insulin 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 Developments in Global Insulin Market

Key players in the global insulin market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to drive the global insulin market. A few strategies adopted by players operating in the global insulin market are:

  • In October 2019, Biocon Ltd., an innovation led fully integrated biopharmaceutical company, and Mylan N.V., a global generic and specialty pharmaceuticals company, announced the official launch of Semglee. It is a prescription insulin utilized to control high blood sugar in adults with type 2 diabetes and in children with type 1 diabetes.
  • In June 2019, Valeritas Holdings, Inc., an innovative healthcare company and manufacturer of V-Go, a wearable and prescription-only insulin delivery system, announced it has filed ‘510(k) Device Modification’ submission with the FDA to include the utilization of regular human insulin (RHI) in V-Go

Global Insulin Market Snapshot

Attribute

Detail

Market Size Value in 2021

US$ 18.5 Bn

Market Forecast Value in 2031

US$ 30 Bn

Growth Rate (CAGR)

4.3%

Forecast Period

2022–2031

Historical Data Available for

2017–2020

Market Analysis

It includes cross segment analysis at global as well as regional level. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, and parent industry overview.

Competition Landscape

  • Market share analysis by company (2020)
  • Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials

Format

Electronic (PDF) + Excel

Market Segmentation

  • Mode of Action
    • Rapid-acting
    • Short-acting
    • Intermediate-acting
    • Premixed
    • Long-acting
  • Source
    • Modern Insulin
    • Human Insulin

Regions Covered

  • North America
  • Latin America
  • Europe
  • Latin America
  • Middle East & Africa

Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Brazil
  • Mexico
  • GCC Countries
  • South Africa

Companies Profiled

  • 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.
  • B. Braun Melsungen AG
  • Other prominent players

Customization Scope

Available upon request

Pricing

Available upon request

Frequently Asked Questions

The global insulin market was valued at US$ 18.5 Bn in 2021

The global insulin market will surpass US$ 30 Bn by 2031

The global insulin market recorded a CAGR of 4.5% from 2017 to 2021

The global insulin market is anticipated to record a CAGR of 4.3% from 2022 to 2031

Increase in patient population with diabetes worldwide and rising government support positively impact the global market

The modern insulin segment held over 70% share of the global insulin 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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