Insulin Market: By Product Type (Rapid Acting Insulin, Short Acting Insulin, Intermediate Acting Insulin, Long Acting Insulin, Ultra Long Acting Insulin) By Diabetes Type (Type 1 diabetes, Type 2 diabetes) By End User (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies Others) and By Geography  

Insulin Market size is valued at USD 42.5 billion in 2022 and is expected to grow at a CAGR of 8.2% during the forecast period from 2023 to 2029. The human pancreas releases the hormone insulin, which controls the body's metabolism of lipids, carbohydrates, proteins, and blood glucose or sugar levels. Various strengths of insulin are accessible; the most popular is U-100, which is used as a enhancement to diet and exercise to progress glycemic control in both adults and children. By product type, the Insulin market has been segmented into Ultra-short acting insulin, Short-acting insulin, Intermediate-acting insulin, Long-acting insulin, and Premixed insulin. The long-acting insulin segment is likely to be the largest and fastest-growing segment in terms of product type. The rise of this segment is mainly due to the protection of patents and high demand due to lasting effects. Factors such as the protection of patents and high demand due to the lasting impacts are expected to drive the segment. Levemir, Toujeo, Insulatard, Xultophy, , and Lantus are among the main products in the product type segment. Based on Diabetes Type, the Insulin market is segmented into Type 1 diabetes and Type 2 diabetes types. Among these, the type 1 diabetes mellitus segment is expected to have the fastest-growing market during the forecast period 2022-2028. The major factor for the rise of this segment is the high insulin dependence of the patients. It is a more serious condition compared to type 2 diabetes and it has a high prevalence rate. Based on the End User, the Insulin market is segmented into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. The retail pharmacy segment is expected to have a significant share in 2021. The rise of this segment is mainly because of the growing burden of disease, the possibility of home care patients, and numerous discounts provided by retail pharmacies.

Insulin Market Key Developments:

• In February 2022, Biocon acquired Viatris to access its biosimilar products. In July 2021, a glargine biosimilar, Semglee, produced by Mylan Pharmaceuticals Inc. received FDA approval.