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What key factors are powering the surge in the market right now?

In recent times, there has been substantial growth in the size of the short-acting insulin market. The market which is predicted to be worth $11.00 billion in 2024, is estimated to reach $11.65 billion by 2025, signifying a compound annual growth rate (CAGR) of 5.9%. The past growth has largely been due to factors such as the rise in the population with type 1 diabetes, an aging population, a boost in funding for research and development, more cases being diagnosed, and increasing urbanization.

How fast Is the market expected to grow, and what’s its future value?

The market for short-acting insulin is forecasted to experience robust growth over the coming years, expanding to a valuation of $14.47 billion by 2029 with a 5.6% Compound Annual Growth Rate (CAGR). This projected development in the prediction period can be credited to increased government initiatives and support, swift production innovations, enhanced acceptance of insulin therapy, and the emergence of individualized medicine. Key trends for the prediction period comprise insulin delivery devices’ progressive enhancements and technologies, novel quick-acting insulin analogs, the production of biosimilars, a transition to more patient-focused care, and improvements in formulation.

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Which key drivers are propelling the market’s growth?

The short-acting insulin market is projected to expand due to the growing incidence of type 1 diabetes. This autoimmune disease results in the destruction of insulin-producing cells in the body, necessitating a lifetime of insulin treatment. Genetic factors, environmental triggers, and an increase in autoimmune disorders contribute to the surge in type 1 diabetes. Short-acting insulin aids in the management of type 1 diabetes by rapidly controlling blood sugar and simulating the body’s natural insulin response. For example, Diabetes Australia, an organization dedicated to raising diabetes awareness, reports that the number of Australians with type 1 diabetes was approximately 134,000 in 2022. By 2023, that number had grown to 135,423. As such, the rising incidence of type 1 diabetes is propelling the growth of the short-acting insulin market.

What are the key segments defining the market?

The short-acting insulin market covered in this report is segmented –

1) By Formulation: Regular Insulin, Rapid-Acting Insulin

2) By Dosage Form: Vials, Pre-filled Pens, Cartridges

3) By Route Of Administration: Subcutaneous, Intravenous

4) By Patient Type: Type 1 Diabetes, Type 2 Diabetes

5) By Distribution Channel: Pharmacies, Hospital Pharmacies, Online Pharmacies

Subsegments:

1) By Regular Insulin: Human Regular Insulin, Animal-Derived Regular Insulin, Other Regular Insulin

2) By Rapid-Acting Insulin: Insulin Lispro, Insulin Aspart, Insulin Glulisine

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Who are the key players steering the development of the market?

Major companies operating in the short-acting insulin market are Sanofi S.A., Eli Lilly and Company, Novo Nordisk A/S, Baxter International Inc., Eisai Co. Ltd., Sumitomo Pharma Co. Ltd., Biocon Limited, Kissei Pharmaceutical Co. Ltd., Lupin Limited, Wockhardt Ltd., Lannett Co. Inc., MannKind Corporation, Sihuan Pharmaceutical Holdings Group Ltd., Julphar(Gulf Pharmaceutical Industries), Geropharm LLC, Bioton S.A., hec pharm co. ltd, ADOCIA SAS, Gan & Lee Pharmaceuticals Co. Ltd., Adocia S.A.S.

What are the key trends shaping the future of the market?

Leading businesses in the short-acting insulin market are prioritizing the development of inventive products like insulin pods for consistent insulin infusion and adherence among diabetes patients. Insulin pods are a wearable, tubeless insulin delivery device that facilitates ongoing insulin transfusion for managing diabetes. For example, in April 2023, Insulet Corporation, a medical device firm from the US, received clearance from the U.S. Food and Drug Administration (FDA) for its revolutionary basal-only insulin pod named Omnipod GO, specifically designed for adults battling type 2 diabetes. This wearable, tubeless device facilitates consistent insulin delivery without the requirement of an additional controller. Omnipod GO makes diabetes management more straightforward by negating the need for daily injections and offering pre-defined insulin rates. Its user-friendly design and pharmacy availability makes it an accommodating solution for patients and healthcare providers alike. Insulet’s launch underlines the company’s dedication to enhancing diabetes care via groundbreaking technology.

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Which regions are most influential in expanding the market?

North America was the largest region in the short-acting insulin market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the short-acting insulin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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