Insulin Market Revenues to Reach USD 32.55 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 03, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Insulin Market Report (2023-2028)," the market is estimated at USD 26.92 billion in 2023. It is expected to register a CAGR of 3.87% during the forecast period.

People with diabetes tend to get into serious health complications compared to normal people. They have a 300% increased risk of being hospitalized compared to non-diabetic individuals, incurring more healthcare expenses. Patients struggling to control their blood glucose levels are at greater risk for overcorrection and the resultant hypoglycemia. All these factors are expected to drive the global human insulin market.

Report Summary:

Who are the Top Companies in the Global Insulin Market?

The global human insulin market is highly consolidated. Recently, mergers and acquisitions between the players have helped the companies strengthen their market presence.

The significant players in the global human insulin market in 2023 with the most market share are:

• Novo Nordisk AS
• Sanofi SA
• Eli Lilly and Company
• Sedico
• Exir
• Wockhardt
• Julphar
• Pfizer Inc.
• Biocon Limited

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• Egypt Diabetes Care Devices Market Report   - The Egyptian diabetes care devices market size is expected to grow from USD 375 million in 2023 to USD 442 million by 2028, at a CAGR of 3.36% during the forecast period (2023-2028).
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Key Highlights from the Insulin Market Report:

Growing Diabetes Occurrence Driving the Market

• All type-1 diabetes patients and some type-2 diabetes patients require day-by-day insulin injections. The total diabetic population in Canada increased by approximately 33% between 2016 and 2022. About 8% of the diabetic population in Canada has type-1 diabetes.
• Many developing countries in North America are undergoing an epidemiologic transition, consequently experiencing rapid increases in the prevalence of diabetes. The prevalence rates for diabetes in 2022 ranged from 12% to 19% of the population in several countries in the region.

North America Leads the Market

• North America, specifically the United States, has a high prevalence of diabetes because of a sedentary lifestyle.
• The United States accounts for the highest sales of Lantus, a long-acting insulin, worldwide. Most diabetic drug manufacturing companies consider the United States a critical market for improving global sales. Lantus is the most administered basal insulin globally, accounting for a dominant share in the US market.
• Due to its affordability, the traditional North American human insulin drug market is expected to grow during the forecast period. There are no generic competitors for the conventional human insulin drug market in the United States.

What are the Latest Developments in the Global Insulin Market?

• In November 2022, the US Food and Drug Administration approved Tzield (teplizumab-mzwv) injection to suspend the onset of stage 3 type-1 diabetics and pediatric patients eight years of age and older.
• In May 2022, the FDA approved a new medication, Mounjaro (tirzepatide), for type-2 diabetes management.
  

Mordor Intelligence has Segmented the Insulin Market Based on Product Type and Geography:

• Product Type (Market Size (USD billion) and Volume, 2018-2028) 
  • Basal or Long-acting Insulins Lantus (Insulin glargine)
    • Levemir (Insulin detemir)
    • Toujeo (Insulin glargine)
    • Tresiba (Insulin degludec)
    • Basaglar (Insulin glargine)
  • Bolus or Fast-acting Insulins
    • NovoRapid/Novolog (Insulin aspart)
    • Humalog (Insulin lispro)
    • Apidra (Insulin glulisine)
    • FIASP (Insulin aspart)
    • Admelog (Insulin lispro)
  • Traditional Human Insulins
    • Novolin/Actrapid/Insulatard
    • Humulin
    • Insuman
      
  • Combination Insulins
    • NovoMix (Biphasic Insulin aspart)
    • Ryzodeg (Insulin degludec/Insulin aspart)
    • Xultophy (Insulin degludec/Liraglutide)
    • Soliqua/Suliqua (Insulin glargine/Lixisenatide)
      
  • Biosimilar Insulins
    • Insulin Glargine Biosimilars
    • Human Insulin Biosimilars
      
      
• Geography (Market Size (USD billion) and Volume, 2018-2028)
  • North America
    • United States
    • Canada
    • Rest of North America
      
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • United Kingdom
    • Russia
    • Rest of Europe
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
      
  • Asia-Pacific
    • Japan
    • South Korea
    • China
    • India
    • Australia
    • Vietnam
    • Malaysia
    • Indonesia
    • Philippines
    • Thailand
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Saudi Arabia
    • Iran
    • Egypt
    • Oman
    • South Africa
    • Rest of Middle East & Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Insulin Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

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• Italy Diabetes Devices Market Report  - The Italy diabetes care devices market size is estimated at USD 918.11 million in 2023 and is expected to reach USD 1.26 billion by 2028, registering a CAGR of 6.70% during the forecast period (2023-2028).

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.

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• Insulin Market - Mordor Intelligence