Latin America Insulin Vials Market, by Type of Insulin (Rapid Acting, Short-acting, Intermediate-acting, Long-acting, Ultralong-acting, and Mixtures), by Indication (Type 1 Diabetes and Type 2 Diabetes), by Concentration (100 units/ml, 300 units/ml, and Others (Others include 200 units/ml and 500 units/ml)), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Country (Brazil, Mexico, Argentina, Colombia, Peru, Venezuela, Chile, Ecuador, and Rest of Latin America), is estimated to be valued at US$ 1,416.4 million in 2021 and is expected to exhibit a CAGR of 8.5% over the forecast period (2022-2028), as highlighted in a new report published by Coherent Market Insights.
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Key players are focusing on obtaining product approvals from regulatory authorities and this is expected to drive the Latin America insulin vials market growth over the forecast period.
For instance in June 2019, MannKind Corporation, a California-based biopharmaceutical company and BIOMM SA, a Brazil-based biosimilars company received approval from ANVISA (Agência Nacional de Vigilância Sanitária) – Brazilian Health Regulatory Agency for Afrezza. Afrezza is manufactured by MannKind Corporation and will be distributed by BIOMM SA. Afrezza is an orally inhaled insulin powder available as vials for the treatment of adults suffering from diabetes.
The COVID-19 outbreak that started from Wuhan, China spread across the globe, negatively affecting various industries globally. Supply of key materials has been severely disrupted due to the nationwide lockdowns and shortage of labour. These interruptions have resulted in shortage of raw materials and components required for making insulin, which is expected to hamper growth of the Latin America insulin vials market.
The major challenges faced during to COVID-19 pandemic include supply of raw materials required for manufacturing and production of biosimilars and medical devices due to irregularities in transportation facility. Furthermore, distributors of medical products are witnessing unstable and frequent changing demand for medical products from the retailers due to increasing number of patients suffering from COVID-19.
For instance, according to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported in Brazil as of August 17, 2021 was approximately 20,364,099 confirmed cases and 569,058 deaths.
Key players are adopting inorganic growth strategies such as collaborations, acquisitions, partnerships, mergers, and others, in order to strengthen their position in the market which is expected to augment market growth. For instance, in February 2021, Novo Nordisk A/S, a Denmark-based multinational pharmaceutical company entered into a partnership with the University of Toronto, Canada and announced a joint investment of US$ 32.5 million to develop novel healthcare solutions related to diabetes and chronic disease.
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Latin America insulin vials market is expected to exhibit a CAGR of 8.5% over the forecast period, due to growing prevalence of diabetes in Latin America. For instance, according to the International Diabetes Federation report 2019, the prevalence of diabetes in Mexico is expected to increase from 13.5% in 2019 to 14.8% by 2030. Moreover, the same source states that the prevalence of diabetes in Argentina is expected to increase from 5.9% in 2019 to 6.6% by 2030 and 6.9% in 2045.
Among type of insulin, long-acting segment is expected to account for largest market share in 2021, due to favorable reimbursement policy. For instance, according to the Brazilian Ministry of Health report 2020, in March 2019, the Brazilian government stated that long-acting insulin biosimilars have now been incorporated into the public healthcare system in Brazil at cheaper rates.
Key players operating in the Latin America insulin vials market include Sanofi S.A, Novo Nordisk A/S, and Eli Lilly and Company.
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Table of Content
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type of Insulin
- Market Snippet, By Indication
- Market Snippet, By Concentration
- Market Snippet, By Distribution Channel
- Market Snippet, By Country
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Developments
- Market Trends
- Regulatory Scenario
- Reimbursement Scenario
- Epidemiology
- PEST Analysis
- Market Dynamics
- Latin America Insulin Vials Market – Impact of Coronavirus (Covid-19) Pandemic
- Economic Impact
- Impact on Clinical Trials and Drug Development
- Government Initiatives
- Latin America Insulin Vials Market, By Type of Insulin, 2017 – 2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Rapid Acting
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Short-acting
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Intermediate-acting
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Long-acting
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Ultralong-acting
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Mixtures
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Introduction
- Latin America Insulin Vials Market, By Indication, 2017 – 2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Type 1 Diabetes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Type 2 Diabetes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Introduction
- Latin America Insulin Vials Market, By Concentration, 2017 – 2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- 100 units/ml
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- 300 units/ml
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Others (Others include 200 units/ml and 500 units/ml)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Introduction
- Latin America Insulin Vials Market, By Distribution Channel, 2017 – 2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Hospital Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Retail Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Online Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
- Introduction
- Latin America Insulin Vials Market, By Country, 2017 – 2028, (US$ Mn)
- Introduction
- Market Share Analysis, By Country, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, For Country, 2018–2028
- Country Trends
- Brazil
- Overview
- Market Size and Forecast, and Y-o-Y Growth, By Type of Insulin, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Indication , 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Concentration, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017–2028, (US$ Million)
- Mexico
- Overview
- Market Size and Forecast, and Y-o-Y Growth, By Type of Insulin, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Indication , 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Concentration, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017–2028, (US$ Million)
- Argentina
- Overview
- Market Size and Forecast, and Y-o-Y Growth, By Type of Insulin, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Indication , 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Concentration, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017–2028, (US$ Million)
- Colombia
- Overview
- Market Size and Forecast, and Y-o-Y Growth, By Type of Insulin, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Indication , 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Concentration, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017–2028, (US$ Million)
- Peru
- Overview
- Market Size and Forecast, and Y-o-Y Growth, By Type of Insulin, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Indication , 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Concentration, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017–2028, (US$ Million)
- Venezuela
- Overview
- Market Size and Forecast, and Y-o-Y Growth, By Type of Insulin, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Indication , 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Concentration, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017–2028, (US$ Million)
- Chile
- Overview
- Market Size and Forecast, and Y-o-Y Growth, By Type of Insulin, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Indication , 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Concentration, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017–2028, (US$ Million)
- Ecuador
- Overview
- Market Size and Forecast, and Y-o-Y Growth, By Type of Insulin, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Indication , 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Concentration, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017–2028, (US$ Million)
- Rest of Latin America
- Overview
- Market Size and Forecast, and Y-o-Y Growth, By Type of Insulin, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Indication , 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Concentration, 2017–2028, (US$ Million)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017–2028, (US$ Million)
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis
- Sanofi S.A
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Novo Nordisk A/S
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Eli Lilly and Company
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Sanofi S.A
- Analyst Views
- Section
- References
- Research Methodology
- About us and Sales Contact
About Coherent Market Insights
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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