Global Insulin Drugs Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Overview and Scope
Insulin drugs refer to medications that used to treat diabetes. Insulin is a medication prescribed to treat type 1 diabetes and type 2 diabetes mellitus. There are several types, preparations, and dosage amounts of insulin. Insulin is a hormone that is produced naturally in our bodies. Its main role is to allow cells throughout the body to uptake glucose (sugar) and convert it into a form that can be used by these cells for energy.

Sizing and Forecast
The insulin drugs market size has grown rapidly in recent years. It will grow from $31.09 billion in 2023 to $34.6 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%.  The  growth in the historic period can be attributed to increase in diabetes prevalence, emerging markets growth, increased geriatric population and growth in insulin analogues.

The insulin drugs market size is expected to see rapid growth in the next few years. It will grow to $51.81 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.  The growth in the forecast period can be attributed to the increase in disease burden, government initiatives and increase in r&d and collaborations. Major trends in the forecast period include launching new products to increase their product offerings, expanding product portfolio and business through mergers and acquisitions, adopting strategic partnerships to promote product offerings, investing more in research and development towards developing new insulin delivery methods, investing in advanced solutions to reduce r&d costs and save development time.

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Segmentation & Regional Insights
The insulin drugs market covered in this report is segmented –
1) By Product Type: Basal Or Long-Acting Insulins, Bolus Or Fast-Acting Insulins, Pre-Mixed, And Intermediate And Short Acting Insulins
2) By Source Type: Insulin Analogs, And Human Insulin
4) By Drug Classification: Branded Drugs, And Generic Drugs
3) By Application: Type 2 Diabetes, Type 1 Diabetes, And Gestational Diabetes
5) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, And Online

North America was the largest region in the insulin drugs market in 2023. The Middle East is expected to be the largest growing region in the global insulin drugs market share during the forecast period. The regions covered in the insulin drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Changing lifestyles are leading to a higher prevalence of diabetes. This is expected to drive the demand for diabetes drugs during the forecast period. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of diabetes. According to a study, there was a high prevalence of diabetes in people with sedentary lifestyles. Additionally, people suffering from obesity are up to 80 times more likely to develop type 2 diabetes. According to a World Health Organization (WHO) report, 74% of men and 64% of women in the UK, for instance, are expected to be overweight by 2030. These factors are expected to increase the patient pool of diabetes, thereby likely to drive the diabetes therapies market during the forecast period.

Key Industry Players
Major companies operating in the insulin drugs market report are Novo Nordisk, Sanofi S.A., Eli Lilly And Company, Biocon Ltd, and Gan & Lee Pharmaceuticals, Bioton, Wockhardt Ltd, Julphar, Tonghua Dongbao Pharmaceutical, AstraZeneca, Mehar healthcare, GE Healthcare, Philips Healthcare India, Shandong WeiGao Group Medical Polymer Company Limited, Yuwell Medical Equipment & Supply Co, Terumo, NIPRO, Olympus Medical Systems, Hitachi Medico, Nihon Kohden, Fukuda Denshi, Emperra GmbH E-Health Technologies, DIABNEXT™, Berlin-Chemie AG, Ypsomed Holding AG, Patients Pending Ltd, Dexcom, Johnson and Johnson, Medtronic, Abbott Laboratories, Acon Laboratories, Ypsomed AG, Tandem Diabetes Care, Inc., Becton, Dickinson, Insulet Corporation, AJA Pharma, SEDICO Pharmaceutical Company, Pfizer

The insulin drugs market report table of contents includes:
1. Executive Summary

2. Insulin Drugs Market Characteristics

3. Insulin Drugs Market Trends And Strategies

4. Insulin Drugs Market - Macro Economic Scenario

5. Global Insulin Drugs Market Size and Growth
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32. Global Insulin Drugs Market Competitive Benchmarking
33. Global Insulin Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Insulin Drugs Market
35. Insulin Drugs Market Future Outlook and Potential Analysis
36. Appendix