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What Is the Forecast for the Short-Acting Insulin Market from 2024 to 2025?
The market for short-acting insulin has experienced significant growth in recent times. Its value is projected to increase from $11.00 billion in 2024 to $11.65 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.9%. This growth during the historic period is a result of several factors including a rise in the number of people with type 1 diabetes, an increasing older population, a boost in research and development funding, the occurrence of diagnosed cases, and an uptick in urbanization.
What Is the Projected Market Size of the Short-Acting Insulin Market?
The market size of short-acting insulin is set to witness substantial expansion in the upcoming years, with projections pointing to a growth to $14.47 billion in 2029, boasting a compound annual growth rate (CAGR) of 5.6%. Factors contributing to this anticipated surge within the forecast period encompass escalated activities by governing bodies, amplified government backing, fast-paced product innovations, a spike in embracing insulin therapy, and an upswing in personalized medicine. Foreseen trends within this period encompass progress in the realm of insulin delivery devices and technologies, cutting-edge rapid-acting insulin analogs, growth in biosimilars, a paradigm shift towards patient-focused care, and breakthroughs in formulation.
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Who are the Major Competitors in the Short-Acting Insulin Market Outlook?
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 Is Fueling Growth in the Short-Acting Insulin Market?
The boost in the short-acting insulin market can be attributed to the escalating occurrence of type 1 diabetes. This autoimmune illness is characterized by the body’s destruction of insulin-producing cells, leading to a lifetime requirement for insulin therapy. Genetic predispositions, environmental catalysts, and an overall increase in auto-immune disorders are fuelling the ascending prevalence of type 1 diabetes. Short-acting insulin proves beneficial in managing type 1 diabetes, offering quick blood sugar regulation and emulating the natural insulin action in the body. For example, Diabetes Australia, an agency focusing on heightening diabetes awareness, reported that in 2022, around 134,000 Australians had type 1 diabetes and this number rose to 135,423 in 2023. Therefore, the expansion of the short-acting insulin market can be directly linked to the upsurge in type 1 diabetes cases.
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Which Short-Acting Insulin Market Segments Are Growing the Fastest?
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
Which Industry Trends Are Shaping the Future of the Short-Acting Insulin Market?
Key players in the short-acting insulin sector have shifted their attention toward the development of novel products such as insulin pods. These tools, wearable and tubeless, continue the infusion of insulin for individuals struggling with diabetes. Take for instance the Insulet Corporation, an American medical device corporation, who in April 2023 received clearance from the U.S. Food and Drug Administration (FDA) for their latest product, Omnipod GO. This innovative, basal insulin-only pod is particularly targeted toward adults dealing with type 2 diabetes. Besides not requiring a separate controlling device, this wearable contraption simplifies the management of diabetes by eradicating the necessity of daily injections and offering pre-set insulin rates. The design of Omnipod GO is user-centric, easy to access in pharmacies, thus promoting convenience for the patients as well as healthcare service providers. Such a launch accentuates Insulet’s dedication to enhancing diabetes treatment through cutting-edge technology.
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Which Countries Are Leading the Short-Acting Insulin 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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This Report Delivers Insight On:
1. How big is the short-acting insulin market, and how is it changing globally?
2. Who are the major companies in the short-acting insulin market, and how are they performing?
3. What are the key opportunities and risks in the short-acting insulin market right now?
4. Which products or customer segments are growing the most in the short-acting insulin market?
5. What factors are helping or slowing down the growth of the short-acting insulin market?
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