The Insight Partners Latest Research on “Insulin Market Forecast to 2028″ Includes COVID-19 Impact and Global Analysis By Type [Long Acting Insulin, Rapid Acting Insulin, Short Acting Insulin & Traditional Human Insulin, Concentrated Insulin & Combination Insulin, Biosimilar Insulin, Glucagon-like peptide-1 (GLP-1), Pen & Needle, and Others] and Geography
“Insulin Market is expected to grow from US$ 54,611.42 million in 2021 to US$ 111,213.73 million by 2028. It is estimated to grow at a CAGR of 10.8% from 2022 to 2028. The increasing prevalence of diabetes due to sedentary lifestyles, unhealthy dietary patterns, and high-stress levels has aided the insulin market. Moreover, the rising geriatric population susceptible to such ailments and growing public awareness about the benefits of insulin are expected to boost the market growth in the coming years. However, risks associated with insulin delivery devices are hampering the market to some extent.
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In diabetes, the pancreas does not produce enough insulin, or the body does not usually respond to the insulin, increasing the blood glucose level. Insulin is a hormone that helps in lowering blood sugar levels. Insulin therapy is often an essential part of diabetes treatment. It is made by the beta cells of the pancreas and released into the blood when glucose levels rise, for example, after eating. Insulin helps glucose get into the body cells, which can be used for energy or stored for future use.
Top Players Analysis:
The insulin market is majorly comprised of top players involving Eli Lily and Company; Novo NordiskA/S; Biocon; Wockhardt; Adocia; GlaxoSmitheKline plc; Sanofi; Pfizer; Merck &Co., Inc.; Tonghua Dongbao Pharmaceutical Co., Ltd.; Bigfoot Biomedical, Inc, among others.
The companies listed above are implementing various strategies such as product launches, acquisitions, mergers, and partnerships, which have resulted in the company’s growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.
Below is the list of the growth strategies done by the players operating in the insulin market:
Jan-22: Novo Nordisk launched peptide in a pill, oral semaglutide for diabetes management. A GLP-1 receptor analogue (GLP-1 RA), one of the drug classes to treat diabetes, till now was available only in the form of injections. The product is a co-formulation of GLP-1RA semaglutide with an absorption enhancer SNAC which protects semaglutide from undergoing degradation in the stomach like other peptides and enhances its absorption
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Jul-21: Eli Lily and Company announced its acquisition of Promoter Technologies, which is a private company. The company’s proprietary peptide – and protein – engineering platform is used to identify and synthesize molecules that can sense glucose or other endogenous modulators of protein activity
May-21: Novo Nordisk announced to launch GLP-1 injectable diabetes drug in tablet form. This oral drug will also help the patients in weight reduction and reduce cardiac risk. The company launched this drug in India on February 2022
The report segments the insulin market as follows:
The insulin market is bifurcated into type and geography.
Based on type, the global insulin market is segmented into long-acting insulin, short-acting insulin and traditional human insulin, biosimilar insulin, pen and needle, rapid-acting insulin, concentrated insulin and combination insulin, glucagon-like-peptide-1 (GLP-1), and others.
Based on geography, the insulin market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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