Insulin Drugs Market Segments, Drivers, Restraints, And Trends For 2024-2033
Insulin Drugs Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Insulin Drugs Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 24, 2024 /EINPresswire.com/ -- The insulin drugs market1 has experienced robust growth in recent years, expanding from $31.09 billion in 2023 to $34.6 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increase in diabetes prevalence, emerging markets growth, increased geriatric population and growth in insulin analogues.
Strong Future Growth Anticipated
The insulin drugs market is projected to continue its strong growth, reaching $51.81 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to the increase in disease burden, government initiatives and increase in R&D and collaborations.
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Growth Driver Of The Insulin Drugs Market
Rising obesity is expected to propel the growth of the insulin drugs market going forward. Obesity is a medical condition characterized by an excess of body fat to the extent that it can have negative effects on a person's health. Insulin drugs are used for obesity, which is a risk factor for developing diabetes, and using these drugs causes weight gain, which can exacerbate obesity.
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Major Players And Market Trends
Key players in the insulin drugs market include Novo Nordisk, Sanofi S.A., Eli Lilly And Company, Biocon Ltd., and Gan & Lee Pharmaceuticals, Bioton, Wockhardt Ltd., Julphar, Tonghua Dongbao Pharmaceutical.
Major companies operating in the insulin drugs market are focusing on innovating products, such as the triple fixed-dose combination (FDC) of teneligliptin with pioglitazone and metformin, to provide reliable services to customers. A triple fixed-dose combination (FDC) of teneligliptin with pioglitazone and metformin is a drug for the treatment of type 2 diabetes and high insulin resistance.
Insulin Drugs Market Segments2:
1) By Product Type: Basal Or Long-Acting Insulins, Bolus Or Fast-Acting Insulins, Pre-Mixed, And Intermediate And Short Acting Insulins
2) By Source Type: Insulin Analogs, And Human Insulin
4) By Drug Classification: Branded Drugs, And Generic Drugs
3) By Application: Type 2 Diabetes, Type 1 Diabetes, And Gestational Diabetes
5) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, And Online
Geographical Insights: North America Leading The Market
North America was the largest region in the insulin drugs market in 2023. The Middle East is expected to be the largest growing region in the global insulin drugs market share during the forecast period. The regions covered in the insulin drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Insulin Drugs Market Definition
Insulin drugs refer to medications that used to treat diabetes. Insulin is a medication prescribed to treat type 1 diabetes and type 2 diabetes mellitus. There are several types, preparations, and dosage amount of insulin. Insulin is a hormone that is produced naturally in our bodies. Its main role is to allow cells throughout the body to uptake glucose (sugar) and convert it into a form that can be used by these cells for energy.
Insulin Drugs Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Insulin Drugs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on insulin drugs market size, insulin drugs market drivers and trends, insulin drugs market major players, insulin drugs competitors' revenues, insulin drugs market positioning, and insulin drugs market growth across geographies. The insulin drugs market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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