The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s insulin drugs market report forecasts the insulin drugs market size to grow to $53.41 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The Insulin Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/insulin-drugs-global-market-report

Insulin Drugs Market Size Forecast
The global insulin drugs market is expected to grow from $32.83 billion in 2022 to $36.50 billion in 2023 at a compound annual growth rate (CAGR) of 11.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global insulin drugs market size is expected to grow to $53.41 billion in 2027 at a CAGR of 10.0%.

North America held the largest insulin drugs market share, and Middle East was the fastest-growing region in 2022.

Key Insulin Drugs Market Driver ­– Increase The Patient Pool Of Diabetes, Thereby Likely
According to a study, there was a high prevalence of diabetes in people with sedentary lifestyles. Additionally, people suffering from obesity are up to 80 times more likely to develop type 2 diabetes. According to a World Health Organization (WHO) report, 74% of men and 64% of women in the UK, for instance, are expected to be overweight by 2030. These factors are expected to increase the patient pool of diabetes, thereby likely to drive the diabetes therapies market during the forecast period.

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Key Insulin Drugs Market Trend – Mergers And Acquisitions
There is an increasing trend of mergers and acquisitions for new formulations in the Insulin market and companies are investing in the development of new medicines in the insulin drugs market. For example, researchers at Lund University Diabetes Centre in Sweden, worked on CRISPR, a genome modification tool. This resulted in the turning off of one of the genes which were responsible for causing diabetes. This effectively decreased beta cell death and increased insulin production in the pancreas. Insulin maker, Novo Nordisk has developed a diabetes pill and planned to launch it in India by February 2022. This pill belongs to a blockbuster class of drugs, glucagon-like peptide-1 (GLP-1s) that stimulate insulin production. The new drug is expected to generate about $5 billion in annual sales.

Insulin Drugs Market Segment
1) By Product Type: Prandial Insulins, Basal Insulins, Premixed Insulins, Other Insulins
2) By Application: Type II Diabetes, Type I Diabetes, Gestational Diabetes, Prediabetes
3) By Drug Classification: Branded Drugs, Generic Drugs
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Drugs Stores, Other Distribution Channels

Insulin Drugs Market Major Players and Strategies
Major players in the insulin drugs market are Apidra, Eli Lilly, Humalog, Humulin, Insuman, Lantus, Levemir, Novo Nordisk, Novomix, NovoRapid/Novolog, Actrapid, Admelog, Novolin/Actrapid/Insulatard, Ryzodeg, Sanofi, Soliqua/Suliqua, Toujeo, Tresiba, and Xultophy.

In July 2021, Eli Lilly and Company, a US-based pharmaceutical company specialising in the discovery, development, manufacturing, and commercialization of human drugs, acquired Protomer Technologies Inc. for an amount of $1 billion. Through this acquisition, Lilly enhances its capabilities to make the lives of diabetes patients better, and we’re still committed to offering practical solutions, such as advancements in insulin therapy. The development of glucose-sensing insulin, which has the potential to significantly enhance both the therapeutic efficacy and safety of insulin therapy, is the next step in diabetes care. Protomer Technologies Inc. is a US-based pre-clinical stage biotechnology company pioneering in research and technology development for the treatment of metabolic disorders.

The Insulin Drugs Global Market Report 2023 covers regional data on insulin drugs market size, insulin drugs market trends and drivers, opportunities, strategies, and insulin drugs market competitor analysis. The countries covered in the insulin drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Insulin drugs refer to medications that used to treat diabetes. Insulin is a medication prescribed to treat type 1 diabetes and type 2 diabetes mellitus. There are several types, preparations, and dosage amounts of insulin. Insulin is a hormone that is produced naturally in our bodies. Its main role is to allow cells throughout the body to uptake glucose (sugar) and convert it into a form that can be used by these cells for energy.

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