CAGR: 8.3%Current Market Size: USD 46.40 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The Global Human Insulin Drugs and Delivery Devices market is expected to grow from USD 46.40 billion in 2022 to USD 87.82 billion by 2030, at a CAGR of 8.3% during the Projection period 2023-2030. The growth of human insulin drugs and delivery devices market is mainly driven owing to the increasing demand insulin drugs.
A hormone produced by the pancreatic beta cells is insulin. It is essential for controlling glucose levels. It manages bodily functions and influences how amino acids are taken up by cells. A polygenic disorder is a medical illness when a person has high blood sugar, blood glucose, glucose, or another kind of glucose. Diabetes nephropathy and diabetic retinopathy are serious health problems brought on by this illness, which harms the glucose levels in blood tissues. One who has diabetes needs insulin every day since their body does not produce enough of it to keep their insulin levels under control. Over the upcoming years, the market for human insulin is anticipated to be driven by an increase in the number of diabetic patients and a rise in the demand for HI analogues. Additionally, optimistic medical reimbursement scenarios and growing diabetes awareness are anticipated to increase the market in the Projection period. Additionally, it is anticipated that the introduction of pen devices and safety pen needles for efficient insulin delivery will fuel the market throughout the Projection period. Numerous firms' increasing spending in R&D initiatives are probably what will drive the market's expansion. There are some limitations and difficulties that can impede market expansion. Market limitations may result from strict regulatory requirements for product approval.
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Market Dynamics:
Drivers:
The human insulin drugs and delivery market is witnessing immense growth with a rise in cases of diabetes globally. Dietary changes and sedentary lifestyles will also affect market dynamics. The surging number of diabetics as a result of the effects of ageing, obesity, and unhealthy lifestyles is an important factor that contributes to market growth. Moreover, various campaigns and programs organized by the government in collaboration with healthcare sectors are creating more awareness about the management of diabetes propelling the growth of the market.
Restraints:
One of the major factors which are hampering the growth of the market is the lack of skilled professionals, who have hand on experience with insulin drug delivery devices. Additionally, poor infrastructure in healthcare sectors is also affecting the growth of the market. Lack of understanding about the devices and drugs is making it difficult for the human insulin drugs and delivery devices market to become more acceptable among consumers, which eventually hinders the market’s growth.
Opportunities:
Research and development by major key players to improve the efficiency of insulin drugs and devices are playing a key role in the growth of the market. Continuous R&D is offering new and innovative products to consumers which are reliable and efficient. In addition to recently launched innovative pen devices and portable pumps, there is a high demand for advanced insulin delivery devices, which is expected to lead to the market's growth. Technological advancements in drug delivery devices will generate more growth opportunities for the market during the Projection period and beyond that.
Challenges:
The manufacturing cost of drug delivery devices is quite high which is challenging the growth of the market. Moreover, it is also difficult to get approval for a novel drug delivery device for human insulin, as medical device regulations are extremely rigorous. It is a well-known fact that high manufacturing costs will directly affect the price of the final product, which results in low sales as the consumers will start shifting towards other alternatives which are cost-effective.
Segmentation Analysis:
The global human insulin drugs and delivery devices market has been segmented based on product type, delivery device, end-user, and region.
By Product Type
The product type segment is human insulin delivery devices and human insulin drugs. The human insulin drugs segment led the largest share of the human insulin drugs and delivery devices market with a market share of around 57% in 2022. It is expected that human insulin drugs will command the largest share of the market. In developed countries, the ageing population, the expansion of research & development for drug discovery & development, and the increasing accessibility of generic human insulin products all contributed to the growth of this segment, which is boosting the growth of the market.
By Delivery Device
The delivery device segment includes insulin pumps, insulin injectors, insulin pens and insulin syringes. The insulin pen segment led the largest share of the human insulin drugs and delivery devices market with a market share of around 32.2% in 2022. A significant CAGR is to be achieved by the insulin pen segment throughout the Projectioned period, due to the commercialization of innovative insulin pens and reimbursements offered across mature markets for these devices. As a result of its high adoption rate, its user-friendly design, and its growing popularity among consumers, this segment has the highest revenue share. Additionally, manufacturers are increasingly focused on promoting innovation and advancements, which contributes to the high share.
By End-User
The end-user segment includes homecare, hospitals, speciality clinics and others. The homecare segment led the largest share of the human insulin drugs and delivery devices market with a market share of around 31.32% in 2022. In 2021, the home care segment dominated the insulin delivery devices market and accounted for 48.9% of the market's revenue. As diabetes awareness grows and insulin delivery devices are more widely adopted among patients for home use, the insulin delivery device segment is expected to grow considerably.
Global Human Insulin Drugs and Delivery Devices Market- Sales Analysis.
The sale of human insulin drugs and delivery devices expanded at a CAGR of 7% from 2016 to 2022.
A protein hormone called insulin helps people whose bodies can't produce enough of it manage their blood sugar levels. Insulin lowers blood glucose levels by increasing the uptake of glucose into fatty tissues and muscles. It can be injected into the legs, abdomen, backs of the arms, or buttocks. Additionally, insulin helps cure acute problems including hyperosmolar hyperglycemia and diabetic ketoacidosis in addition to help in manage diabetes. Some of the equipment that helps the patient's body receive insulin includes insulin syringes, insulin pumps, insulin pens, insulin inhalers, and insulin jet injectors.
Diabetes is typically regarded as a disease connected to lifestyle. The prevalence of the disease has dramatically increased over time as a result of rising global population. All those with Type 1 diabetes and between 10% and 25% of those with Type 2 diabetes, totaling around 100 million individuals worldwide, require insulin. Despite the fact that insulin has been used to treat diabetes for more than 90 years, more than half of those who need it today still do not have access to or the means to pay for it. Insulin Those with type-1 diabetes need drugs and delivery systems since their bodies cannot make insulin on their own; patients with type-2 diabetes also need insulin, especially if they are having trouble controlling their diabetes with oral meds.
Thus, owing to the aforementioned factors, the global human insulin drugs and delivery devices market is expected to grow at a CAGR of 8.3% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the human insulin drugs and delivery devices market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the human insulin drugs and delivery devices market and held a 38.2% share of the market revenue in 2022.
Global Human Insulin Drugs and Delivery Devices Market - Country Analysis:
Germany's human insulin drugs and delivery devices market size was valued at USD 3.5 billion in 2022 and is expected to reach USD 6.6 billion by 2029, at a CAGR of 8.4% from 2023 to 2030.
As demand for human insulin analogues increases, the market for human insulin drugs and delivery devices will witness potential growth opportunities. Moreover, the growing incidence of type 2 diabetes around the globe, along with recent developments in insulin delivery device design, is likely to drive the market for human insulin drugs and devices in the country.
China’s human insulin drugs and delivery devices market size was valued at USD 3.7 billion in 2022 and is expected to reach USD 7.2 billion by 2029, at a CAGR of 8.7% from 2023 to 2030.
It is anticipated that China will hold the largest share of the insulin biosimilar market share and maintain its dominance throughout the Projection period due to its large patient pool and the ease of its regulatory process.
India's human insulin drugs and delivery devices market size was valued at USD 2.8 billion in 2022 and is expected to reach USD 5.4 billion by 2029, at a CAGR of 8.6% from 2023 to 2030.
An ageing population and rising diabetes prevalence, mostly due to sedentary lifestyles, smoking, and excessive alcohol consumption, increase sugar levels in the body, thus raising the demand for insulin drugs and devices and propelling the market growth in the nation. Furthermore, the region's key anti-diabetic medicine businesses contributed to market growth.
Key Industry Players Analysis:
To increase their market position in the global human insulin drugs and delivery devices market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
8.3% |
Market Size |
46.40 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Delivery Device, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Biocon, Lilly, BD, Mylan N.V., Johnson & Johnson, Julphar, Teva Pharmaceutical Industries Limited, WOCKHARDT, B. Braun SE, Sanofi, Boehringer Ingelheim International GmbH, Ypsomed AG, CeQur Simplicity, Albireo Pharma, Inc., Novo Nordisk A/S, Medtronic, Merck & Co, Inc., AstraZeneca, and Bayer AG. |
By Product Type |
|
By Delivery Device |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Human Insulin Drugs and Delivery Devices Market By Product Type:
Global Human Insulin Drugs and Delivery Devices Market By Delivery Device:
Global Human Insulin Drugs and Delivery Devices Market By End-User:
Global Human Insulin Drugs and Delivery Devices Market by Region:
Global human insulin drugs and delivery devices market is expected to reach USD 87.82 billion by 2030, at a CAGR of 8.3% from 2023 to 2030.
Biocon, Lilly, BD, Mylan N.V., Johnson & Johnson, Julphar, Teva Pharmaceutical Industries Limited, WOCKHARDT, B. Braun SE, Sanofi, Boehringer Ingelheim International GmbH, Ypsomed AG, CeQur Simplicity, Albireo Pharma, Inc., Novo Nordisk A/S, Medtronic, Merck & Co, Inc., AstraZeneca, Bayer AG among others.
Rising cases of diabetes and rising research and development activities will propel the market's growth.
North American region will witness more growth in the human insulin drugs and delivery devices market.
Political Factors- Government and political institutions and authorities must keep an eye on industrial rivalry. By doing this, businesses may be sure that their products and business practices are ethical. The government can monitor, limit, and regulate imports with the use of competition regulation, which will support the development and growth of regional firms. The preservation of the rights and interests of the relevant stakeholders and the protection of all groups and stakeholders depends on competition regulation.
Economic Factors- Businesses like human insulin drugs and delivery devices market will find it easier to obtain bank loans if the interest rate is reasonable. Growth and development would be the main goals of this business loan. Business loans would also play a significant role in the growth and construction of the sector's infrastructure. People might obtain personal loans with moderate interest rates. Personal loans will result in increased consumer spending and consumption when interest rates are low to moderate. This would increase consumer spending, sales, and market share for markets like human insulin drugs and delivery devices market.
Social Factors- human insulin drugs and delivery devices market will benefit from a higher proportion of young people because it will provide the corporation access to a larger customer base. A younger population will also provide the human insulin drugs and delivery devices market with access to human resources and individuals who are more talented and educated, expanding the talent pool. For the human insulin drugs and delivery devices market, a moderate to the upper middle class is particularly crucial because they are its present customers and supporters. This group promotes the human insulin drugs and delivery devices market as a brand and inspires younger people to become devoted consumers.
Technological Factors- The nation, as well as all consumer markets, have effective internet penetration rates. Most of the population owns a smartphone for internet access, and most have access to desktops and laptops as well. Due to the intense penetration of the internet, it is used for both personal and professional tasks. A population that is progressive and educated is reflected in the increasing internet penetration, which is advantageous for the human insulin drugs and delivery devices market. The human insulin drugs and delivery devices market has also utilized the widespread usage of the internet to connect with customers, as well as for marketing and promotional activities to be able to directly engage customers and get feedback. As a result, the human insulin drugs and delivery devices market has been able to enhance its quality and service and engage in strategic marketing and communications activities thanks to increased internet penetration.
Environmental Factors- An increase in the green lifestyle has also resulted from improved knowledge of environmental sustainability. Consumers in the nation and in all markets are gravitating toward goods and services that are "green," or created and promoted in ways that are sustainable and kind to the environment. To appeal to consumers, businesses are also jumping on the green product bandwagon and releasing them. human insulin drugs and delivery devices market often participates in CSR initiatives that protect the environment. In addition, the human insulin drugs and delivery devices market has launched a line of green goods that are variations of its current offerings. To boost its contribution to environmental sustainability, the company intends to steadily expand the weight of its green product range.
Legal Factors- Regarding the health and safety of employees at work, there are stringent rules. Respected associations and institutions conduct routine audits of businesses to determine whether safety nets, drills, and other preventative measures are being implemented. The safety and health of employees include not only their physical health but also their emotional and mental health. human insulin drugs and delivery devices market places a strong priority on the health and safety of its workers and works hard to make improvements. Businesses are required by national regulations to create valid employment contracts. These agreements, which cover every aspect of employment, are approved by respected governmental bodies.
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