The global insulin market size was USD 26.80 Billion in 2021 and is expected to register a CAGR of 4.2% during the forecast period. Rising global burden of diabetes and obesity, rapid changes in lifestyle, growing geriatric population across the globe, and advancements in insulin pens and devices are some key factors expected to contribute to market revenue growth over the forecast period. Development of less invasive insulin delivery methods, advancements in insulin therapy such as development of injectable formulations and artificial pancreas systems, and availability of advanced insulin devices such as smart pens, autoinjectors, and insulin pumps at cost-effective prices are other major factors expected to continue to drive revenue growth of the market going ahead.
Insulin is a peptide hormone secreted by the beta cells of islets of Langerhans of the pancreas that maintains normal levels of glucose in blood by facilitating proper glucose uptake and regulating carbohydrate, protein, and lipid metabolism. Insulin is made of 51 amino acids that are distributed among two peptide chains – the A chain has 21 amino acids and the B chain has 30 amino acid residues. Insulin acts by directly binding to its receptors on the plasma membranes of the cells, particularly hepatic cells and adipocytes. Depends on the duration of action, insulin can be categorized into three types: short-acting, intermediate-acting, and long-acting. Insulin can be administered via subcutaneous, intravenous, and intramuscular routes and route of administration depends on the condition of the patient and settings. Insulin has a relatively low therapeutic index and to avoid incidences of hypoglycemia, blood glucose levels need to be monitored at regular intervals. Insulin is also widely used medicine in hospital settings for the management of hyperglycemia. Diabetes is a complex metabolic disorder and insulin is the most effective treatment for the disease. Currently, insulins that are used globally are either human insulin or analogs of human insulin. Recombinant DNA technology has enabled the development and production of analogs to human insulin wherein the insulin molecule structure is slightly modified to alter the pharmacokinetic properties of insulin, which affects the absorption of drugs from subcutaneous tissue. Insulin’s actions in the endothelial cells and macrophages have an anti-inflammatory effect on the body and suppress nuclear factor-kappa-B (NF-kB). Insulin also suppresses the generation of O2 radicals and reactive oxygen species. With diabetes and obesity reaching epidemic proportions, increasing need to understand role of insulin in wide range of physiological processes and its molecular actions has led to extensive R&D activities to assess its importance in various chronic diseases, and this is expected to continue to drive market growth going ahead.
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Insulin plays a central and crucial role in regulation of human metabolism, and research activities to study its 3-dimensional structure have enabled the development of therapeutic analogs for effective treatment of diabetes mellitus. However, adverse effects linked with insulin therapy such as hypoglycemia and electrolyte imbalance such as hypokalemia and pain at the site of injection are some major growth limiting factors and can hamper market growth to a certain extent.
Driver: Rapidly rising global burden of diabetes mellitus to drive demand for insulin
Prevalence of diabetes in high-income and low-income countries across the globe is rapidly rising, with diabetes being one of the leading causes of death globally. Uncontrolled and untreated diabetes can cause blindness, kidney failure, CVD and heart attacks, and diabetic nephropathy, ultimately leading to diabetic coma and death. Diabetes can be effectively treated with insulin and continuous monitoring of blood glucose levels. Insulin therapy is found to be the most effective method of lowering blood glucose and numerous research studies have been carried out for optimization of insulin action, which have led to the discovery of ultra-long-acting human insulin analogues, ultra-rapid-acting human insulin analogues, and biosimilar insulin. The advent of continuous subcutaneous insulin therapy has significantly improved the management of type 1 diabetes. Recent advances in novel insulin therapy include development of newer injectable formulations, oral and transdermal dosage forms, and artificial pancreas system and increasing product approval from regulatory authorities such as the U.S. FDA are some other factors expected to drive revenue growth of the market going ahead.
Restraint: Increasing incidence of insulin resistance is a key factor restraining market growth
Insulin resistance is an impaired biologic response that impairs glucose transport and breakdown, which results in a drastic increase in beta-cell insulin production and hyperinsulinemia. Hyperglycemia, hypertension, visceral adiposity, dyslipidemia, endothelial dysfunction, and elevated inflammatory markers are some of the metabolic consequences of insulin resistance. Progression of insulin resistance can further lead to metabolic syndrome, nonalcoholic fatty liver disease (NAFLD), and type 2 diabetes mellitus. Increasing incidence of obesity and overweight among individuals has led to rising occurrence of insulin resistance, in turn, increasing the probability of insulin-associated rise in risk of cardiovascular diseases. In addition, adverse effects of insulin such hypoglycemia and weight associated with insulin therapy, pain at the site of injection, and peripheral hyperinsulinemia and decreased compliance linked with subcutaneous administration of insulin are some other factors hampering adoption of insulin and can restrain market growth to a certain extent.
Product Type Outlook:
Based on product type, the global insulin market has been segmented into basal or long-acting insulin, bolus or fast-acting insulin, traditional human insulin, combination insulin, and biosimilar insulin. Basal or long-acting insulin segment is expected to account for a significantly large revenue share over the forecast period, attributable to increasing use of basal analogs in treatment of diabetes and their ability to achieve same clinical effectiveness when used in different insulin regimens. Basal or long-acting insulin analogs offer a better replication of the patterns of endogenous secretion of insulin. Basal insulin analogs have a better pharmacodynamic profile with a lower peak of action, are slowly and continually absorbed into the system circulation, and remain for a longer duration, which enables better basal glycemic control and flexible treatment with fewer hypoglycemic episodes. Basal insulin analogs can overcome adverse effects of conventional insulin therapy such as weight gain and hypoglycemia and are used to treat patients with problematic hypoglycemia. Long acting insulin preparations exert a beneficial effect on nocturnal glucose levels. In addition, long-acting insulin analogs better mimic the physiological basal insulin release and have a significant advantage over conventional insulin administration strategies when combined with bolus insulin injections.
Based on disease, the global insulin market has been segmented into type 1 diabetes, type 2 diabetes, gestational diabetes, and prediabetes. Type 1 diabetes segment is expected to register significant revenue growth over the forecast period, attributable to rapidly rising prevalence of type 1 diabetes across the globe, increasing use of rapid-acting insulin analogs in insulin therapy, and growing dependence on insulin injections for better management of type 1 diabetes. Type 1 diabetes, also referred to as insulin-dependent diabetes, is a complex disorder wherein the immune system attacks and destroys beta cells of the pancreas. Patients with type 1 diabetes mellitus need insulin treatment permanently, and basal insulin analogs are increasingly being used for treatment of diabetes. Basal insulin replacement for insulin-dependent patients is often achieved with the use of intermediate or long-acting insulin formulations. Variable insulin regimens are available to match glucose intake and insulin requirements, and correct regimen for individual patients must be tailored according to glycemic status of the patient and compliance.
Delivery Devices Outlook:
Based on delivery devices, the global insulin market has been segmented into syringes, pens, pumps, and others. Pens segment is expected to register rapid revenue CAGR over the forecast period owing to increasing adoption of insulin pens among diabetic patients for self-administration of insulin. Increasing popularity of insulin pens owing to their numerous benefits such as convenient administration of insulin, simple usage, and availability of disposable and reusable insulin pens, is another factor expected to contribute to revenue growth of the segment. Insulin pens are preloaded with insulin and combine medication and syringe into one handy unit, which increases their convenience and portability. Some pens available in the market are color-coded and have different designs that help patients understand what type of insulin they are taking, enabling faster administration time as compared to conventional syringes and vials. The advent of smart insulin pens with smartphone app has further helped patients better manage their insulin delivery. Smart insulin pens calculate and track doses and provide timely reminders and alerts in cases of emergencies. Smart insulin pens have the potential to facilitate a connected diabetes care ecosystem for patients, providers, and health systems, and this is expected to further boost their adoption among diabetic individuals across the globe and contribute to revenue growth of the segment going ahead.
End Use Outlook:
Based on end use, the global insulin market has been segmented into home healthcare, hospitals, over-the-counter (OTC), clinics, and others. Clinics segment to dominate other end-use segments in terms of revenue share over the forecast period, attributable to increasing availability of point-of-care diabetes management devices in the clinics, presence of experienced and skilled general practitioners and nurses, and availability of cost-effective medical treatments. General practitioners are expert in understanding the mechanism of insulin and help in better management of diabetes and this has increased reliance of patients on diabetes clinics and can contribute to revenue growth of the segment going ahead.
Based on regional analysis, North America is expected to account for a significantly large revenue share in the global market over the forecast period, attributable to high prevalence of type 1 diabetes in the region, increasing research and development activities to develop better insulin therapy regimens, availability of cost-effective and advanced insulin delivery devices, and presence of key players in the region.
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period attributable to high incidence of obesity and diabetes in APAC countries, increasing geriatric population, availability of advanced diabetes management devices, rising investment to boost healthcare facilities, growing awareness regarding available medical treatment for diabetes, and availability of favorable reimbursement policies in the region.
The global insulin market is fragmented with presence of several players operating on a global and regional scale. Key players are engaged in product development and strategic alliances to cater to growing global demand and gain a robust footing in the market. Major companies in the market include Novo Nordisk A/S, Sanofi, Eli Lily and Company, ADOCIA, Julphar, Pfizer, Inc., Oramed Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., and GlaxoSmithKline Plc.
Some Key Developments in the Market Include:
- In December 2021, Eris Lifesciences announced a joint venture with Mumbai-based MJ Biopharm to foray into the insulin segment. Eris MJ Biopharm would be focusing on marketing and distributing human and analogue insulin including Glargine, Aspart, and GLP-1 agonists and other biopharma products in India. Eris Lifesciences’ shares jumped 4.05% after the joint venture announcement.
Interim results from a multicenter clinical trial have demonstrated that stem cell-based implants can successfully secrete insulin in patients with type 1 diabetes. Safety, tolerability, and efficacy of the implants were tested in over 26 patients and the results have been published in Cell Stem Cell and Cell Reports Medicine journals. Insulin-secreting pancreatic endoderm cells from human pluripotent stem cells were grafted in type 1 diabetic patients enrolled in the trial. The trial has provided evidence of meal-regulated insulin secretion from cells implanted subcutaneously within the micro-encapsulation devices.
Segments Covered in the Report:
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the sub-segments from 2022 to 2030. For the purpose of this report, has segmented the insulin market based on product type, disease, delivery devices, end use, and region:
Insulin Market Report Scope
Segments covered By Product Type Outlook, Diseases Outlook, Delivery Devices Outlook, End-Use Outlook, Regional Outlook
By Product Type Outlook
Basal or Long-Acting Insulin
Bolus or Fast-Acting Insulin
Traditional Human Insulin
By Diseases Outlook
Type 1 Diabetes
Type 2 Diabetes
By Delivery Devices Outlook
By End-Use Outlook
Over the counter (OTC)
Middle East & Africa
Product Type Outlook (Revenue, USD Billion; 2022-2030)
- Basal or Long-Acting Insulin
- Bolus or Fast-Acting Insulin
- Traditional Human Insulin
- Combination Insulin
- Biosimilar Insulin
Diseases Outlook (Revenue, USD Billion; 2022-2030)
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
Delivery Devices Outlook (Revenue, USD Billion; 2022-2030)
End-Use Outlook (Revenue, USD Billion; 2022-2030)
- Home healthcare
- Over the counter (OTC)
Regional Outlook (USD Billion; 2022-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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