Non-injectable Insulin Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region

"The Business Research Company recently released a comprehensive report on the Global Non-injectable Insulin Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The non-injectable insulin market size has grown rapidly in recent years. It will grow from $1.71 billion in 2023 to $1.92 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to patient compliance improvement, addressing needle phobia, quality of life enhancement, ease of administration, and stable blood glucose control.

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Market Drivers and Trends:

The rising obesity and diabetes issues are expected to propel the growth of the non-injectable insulin market going forward. Obesity is a condition characterized by excessive accumulation of body fat, usually resulting from an imbalance between energy intake (calories consumed) and energy expenditure, while diabetes mellitus, often referred to simply as diabetes, is a group of metabolic disorders characterized by high blood sugar levels over a prolonged period. Non-injectable insulin is used to treat diabetes and obesity, with the potential to improve management by addressing barriers to insulin therapy, offering potential weight management benefits, and providing more convenient treatment options. For instance, in 2022, according to the World Heart Federation, a Switzerland-based non-governmental organization, global obesity rates are expected to surge, with an estimated 2.3 billion people in 2021, including children and adults, facing overweight and obesity, this is likely to rise to 2.7 billion by 2025. Furthermore, in April 2023, according to a report published by the British Diabetic Association, a UK-based diabetes charity, in the UK, 4.3 million individuals have diabetes, and more than 2.4 million people in the UK are at high risk of acquiring type 2 diabetes. Registration numbers for 2021-22 are up 148,951 from 2020-21. Therefore, rising obesity and diabetes issues are driving the growth of the non-injectable insulin market.

Major companies operating in the non-injectable insulin market are focusing on innovative advancements in drug delivery technologies, such as needle-free oral insulin spray, to improve the lives of people who manage their diabetes with multiple insulin injections. A needle-free insulin spray is a painless and needle-free alternative for regulating blood glucose, offering a convenient option as the doses can be sprayed directly into the mouth. For instance, in November 2023, NiedlFree Technologies, an India-based technology platform, introduced Ozulin, an oral insulin spray. This oral insulin spray is intended to provide a more user-friendly solution for individuals with diabetes, particularly those who may find traditional injectable insulin methods challenging. If approved, Ozulin has the potential to be a game-changer for diabetics, offering a more convenient and pain-free alternative to insulin injections.

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Major Key Players of the Market:

Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi S.A, Bristol-Myers Squibb Company, AstraZeneca, Abbott Laboratories, GlaxoSmithKline, Takeda Pharmaceutical, Eli Lilly and Company, Boehringer Ingelheim, Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sun Pharmaceutical Industries Ltd., Ipsen S.A., Cadila Healthcare Limited, Dr. Reddy's Laboratories Limited, Cipla Limited, Lupin Pharmaceuticals, Glenmark Pharmaceuticals, Torrent Pharmaceuticals, Biocon Limited, Wockhardt Limited

Non-injectable Insulin Market 2024 Key Insights:

• The non-injectable insulin market is expected to grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
• Expanding Non-Injectable Insulin Market Fueled by Escalating Obesity and Diabetes Epidemics
• Innovative Advancements In Non-Injectable Insulin Delivery
• North America was the largest region in the non-injectable insulin market in 2023

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