Global Insulin Market Poised for Strong Growth Amid Rising Diabetes Cases and Technological Advances

The global insulin market size was USD 570.8 Million in 2022 and is expected to register a rapid revenue CAGR of 3.3% during the forecast period. The global insulin market is experiencing significant growth, driven by the rising prevalence of diabetes, physical inactivity, and unhealthy dietary habits. According to the International Diabetes Federation, around 537 million people aged 20-79 were living with diabetes in 2021, with nearly half of them undiagnosed. The disease claimed approximately 6.7 million lives in the same year, underlining the urgent need for effective treatment solutions.

Insulin plays a vital role in controlling blood glucose levels and is commonly administered intravenously, subcutaneously, or intramuscularly in hospitals to manage hyperglycemia. The growing demand for advanced delivery systems, combined with increased awareness and diagnosis, is propelling market expansion.

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Key Growth Drivers

Technological innovation is transforming diabetes management. New insulin delivery devices, such as insulin pumps and wearable patch pumps, are making treatment more precise and convenient. These devices, along with Continuous Glucose Monitoring (CGM) systems, help patients monitor and control blood sugar more effectively.

Recent collaborations are further boosting market momentum. In May 2023, Embecta Corp. partnered with nonprofit Tidepool to develop an Automated Insulin Delivery (AID) system tailored for type 2 diabetes patients. The project has already received FDA Breakthrough Device Designation. Similarly, Medtronic India launched the MiniMed 780G system in March 2022, a next-generation closed-loop insulin pump for type 1 diabetes patients aged 7-80 years, designed to automate insulin delivery and improve blood sugar control.

Challenges in the Market

While technology is advancing, high insulin costs remain a concern for many patients. Additionally, certain delivery options, such as insulin pens, have limitations, including restrictions on mixing different types of insulin, which may impact adoption in some cases.

Market Segments

By Route of Administration:

The insulin pen segment held the largest revenue share in 2022. These devices, often paired with smartphone apps, help patients track doses, receive reminders, and generate reports. Partnerships, such as Eli Lilly's agreements with DexCom, Glooko, myDiabby Healthcare, and Roche in 2021, are integrating data and technology to streamline diabetes care worldwide.

By Application:

Type 1 diabetes treatment is expected to see steady revenue growth, as insulin remains essential for managing this lifelong condition. Insulin therapy helps reduce complications like heart disease, blindness, and kidney failure. According to the World Health Organization, around 1.52 million people under the age of 20 live with type 1 diabetes globally. Innovative research, such as Georgia Tech's iTOL-100 biomaterial platform announced in November 2022, offers hope for a potential cure by enabling immune acceptance of therapeutic cells without long-term immunosuppression.

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Insulin Market Top Companies and Competitive Landscape

The global insulin market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective insulin products in the market.

Some major players included in the global insulin market report are:

Novo Nordisk A/S

Eli Lilly and Company

Sanofi

Biocon Limited

Medtronic Plc.

Pfizer Inc.

Merck & Co., Inc.

Becton, Dickinson and Company (BD)

Braun SE

Biomm

Insulin Market Segmentation Analysis

For the purpose of this report, Emergen Research has segmented the global insulin market on the basis of product type, route of administration, application, distribution channel, and region:

Product Type Outlook (Revenue, USD Million; 2019-2032)

Long-Acting Insulin

Lantus

Levemir

Toujeo

Basaglar

Others

Fast-Acting Insulins

Traditional Human Insulins

Novorapid/Novolog

Humalog

Apidra

Fiasp

Others

Combination Insulin

Biosimilars Insulin

Liraglutide

Semaglutide

Others

Route of Administration Outlook (Revenue, USD Million; 2019-2032)

Syringe

Insulin Pen

Insulin Pump

Application Outlook (Revenue, USD Million; 2019-2032)

Type 1 Diabetes

Type 2 Diabetes

Distribution Channel Outlook (Revenue, USD Million; 2019-2032)

Hospitals

Pharmacies

Others

Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The study segments the complete Insulin market on the basis of different application, end-use, end-user, and production capability. From a business standpoint, the industry has been thoroughly examined across various countries located in North America, Europe, Asia-Pacific, and others. The size of the industry for the forecast period. is evaluated on the basis of current sales figures and past financial report can be used to forecast the future sales.

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