Global Insulin Market Analysis

Global Insulin Market Executive Summary

As more diabetic patients rely on insulin for treatment, there is an increasing need for insulin to be produced. This has increased market participants' competition to create new insulin medications for the market.

Insulin aids in the uptake of different ions as well as the promotion of protein synthesis, glycogenesis, and glycolysis. Originally derived from pigs and lambs, human insulin is now also produced by genetically altering bacterial cells. The development of commercial human insulin using recombinant DNA technology is the basis for current treatment.

Market Size and Key Findings

The Global Insulin Market size is at around US $ xx Bn in 2021 and is projected to reach US $ xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period.

Global Insulin Market Size (In $Bn)

(2021-2030F)

Market Dynamics

Market Growth Drivers & Restraints Analysis

All people with Type 1 diabetes and a small percentage of people with Type 2 diabetes need daily insulin injections as part of their therapy. According to the ADA, government insurance covers roughly 67.3% of the cost of diabetes care in the United States (including Medicare, Medicaid, and the military). The remaining sum is covered by private insurance (30.7%) or uninsured individuals (2%).

Between 2016 and 2020, the number of people with diabetes in Canada increased by around 32%, and roughly 8% of those people have Type 1 diabetes. The epidemiology of many emerging nations in North America, particularly those in the Caribbean, is changing, and the prevalence of diabetes is rising quickly.

Competitive Landscape

Key Players

Three large producers dominate the market for human insulin globally, while the remaining manufacturers are limited to competing against other local or regional manufacturers. Recent mergers and acquisitions among the participants have helped corporations increase their market position. The prominent players operating in this market include Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Biocon Limited, Pfizer Inc.