Global Insulin Market Size Worth USD 790.7 Million in 2032 | Emergen Research


Development of new insulin products and delivery device is one of the major factors driving Insulin market revenue growth

Vancouver, Dec. 28, 2023 (GLOBE NEWSWIRE) — The global insulin market size was USD 570.8 Million in 2022 and is expected to register a steady revenue CAGR of 3.3% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of obesity and diabetes globally is the primary factor driving market revenue growth. Insulin helps to normalize the absorption of glucose in circulation and control blood glucose levels. In hospitals, insulin is frequently administered intravenously, subcutaneously, and intramuscularly to treat hyperglycemia.  According to International Diabetes Federation, in 2021, diabetes affected around 537 Million persons aged 20 to 79.

In addition, technological advancements in insulin delivery devices, such as insulin pumps and wearable patch pumps, is another key factor driving revenue growth of the market. These offer a transformative approach to diabetes management by providing more precise and convenient insulin administration. For instance, insulin pumps provide continuous subcutaneous insulin infusion, mimicking the natural insulin release pattern of a healthy pancreas.  Moreover, diabetes wearable technology comprises equipment such as Continuous Glucose Monitoring (CGM) systems and insulin pumps, make managing blood sugar easier and more efficient for persons with diabetes. However, high cost of insulin becoming a concern for many patients  is a key factor, which could restrain market revenue growth.


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Scope of Research

Report Details Outcome
Market Size in 2022 USD 570.8 Million
CAGR (2023–2032) 3.3%
Revenue Forecast To 2032 USD  790.7  Million
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Million and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Product type, route of administration, application, distribution channel, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Novo Nordisk A/S, Eli Lilly and Company, Sanofi, Biocon limited, Medtronic Plc, Pfizer Inc., Merck & Co., Inc., Becton, Dickinson and Company, B. Braun SE, and Biomm  
Customization Scope 10 hours of free customization and expert consultation

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Major 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)
  • B. Braun SE
  • Biomm

Strategic Development

  • On 19 September 2023, Novo Nordisk announced a new partnership to develop human insulin production in South Africa as a part of an expanded commitment to provide life-saving treatment to diabetics across Africa. This new collaboration allows for the manufacture of human insulin for the African continent.
  • On 19 February 2020, Abbott and Insulet Corporation, the global leader in tubeless insulin pump technology with its Omnipod Insulin Management System, announced a collaboration to integrate Abbott’s world-leading1 glucose sensing technology with Insulet’s next-generation tubeless system, the Omnipod Horizon Automated Insulin Delivery (AID) System (Omnipod Horizon System), to provide personalized automated insulin delivery and care to people with diabetes.

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Some Key Highlights from the Report

  • The insulin pen segment accounted for largest revenue share in the global insulin market in 2022 due to rising demand for insulin pens as these help patients with diabetes to effectively manage their insulin doses. Insulin pen is a reusable injector pen that comes with an easy-to-use smartphone app that can assist diabetics better manage insulin delivery. This intelligent system calculates and tracks doses while also providing useful reminders, notifications, and reports.
  • The type 1 diabetes segment is expected to register steadily fast revenue growth rate in the global insulin market during the forecast period. This is because insulin products can mitigate the effects of type 1 diabetes by helping people with the condition to maintain their blood sugar levels within a healthy range. This help to reduce the risk of complications from diabetes, such as heart disease, stroke, blindness, and kidney failure. According to world health organization, 1.52 million people are living with type 1 diabetes around the world were less than 20 years old.

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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


  • Regional Outlook (Revenue, USD Million; 2019-2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa

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