Insulin market to grow by USD 1.67B from 2022-27

The insulin market is estimated to increase by USD 1.67 billion from 2022 to 2027, with a CAGR of 1.77%. North America is set to drive 38% of the global market growth, as per Technavio analysts. Factors such as the escalating prevalence of diabetes and obesity are fueling demand for diabetes care products, notably insulin. The region benefits from heightened awareness among its populace regarding diabetes and its health implications, driving increased sales and fostering a favorable environment for market players. Moreover, robust reimbursement policies, exemplified by Medicare and Medicaid in the US, are facilitating widespread access to insulin, ensuring sustained market expansion. With cutting-edge technologies and regulatory approvals further bolstering growth prospects, North America remains a key market for diabetes care solutions.

The market share growth by the insulin analogs segment is significant during the forecast period. Insulin analogs refer to artificially produced, modified versions of insulin. Modifying insulin analogs influences the body’s absorption rate of insulin. These advantages of analog insulin are more prominent in patients with type 1 diabetes, particularly those at a higher risk of hypoglycemia.

The growing prevalence of diabetes drives the market growth
The escalating prevalence of diabetes poses a significant increase in healthcare costs for both patients and governments. Factors such as obesity, smoking, sedentary lifestyles, urbanization, and an aging population contribute to the growing number of individuals with diabetes.

• Advances in insulin delivery systems are a primary trend in the market.
• Stringent regulatory requirements for product approval is a major challenge hindering the market growth.

The market is segmented by region North America, Europe, Asia, and Rest of World (ROW). An analysis of key leading countries has been included.

• North America accounts for 38% to the growth of the global market during the forecast period.
• The escalating prevalence of diabetes and the growing population of overweight and obese individuals are key factors propelling the expansion of the regional market.
• Individuals with diabetes face a 2-3 times higher risk of mortality from cardiovascular disease (CVD) and associated comorbidities, driving the heightened utilization of diabetes care products, including insulin.

Market overview
The American Diabetes Association advocates for comprehensive care, including adherence to insulin therapy, crucial for mitigating complications like amputation. As the prevalence of diabetes surges, the blood glucose monitoring sector burgeons, with advancements like carbohydrate counting aiding precision dosing. Insulin, a cornerstone in diabetes management, witnesses a dynamic market, with pharmaceutical giants fiercely competing to develop novel formulations. Bolus insulins offer rapid glucose control post-meals, while basal insulins provide sustained glycemic regulation. Banks on biotechnological breakthroughs, the insulin market evolves rapidly, ensuring all rights reserved for innovative patents. Amidst soaring demand, this market underscores the vital role of research in enhancing therapies and addressing unmet medical needs, offering hope for millions globally. Technavio