Reports And Data

Market Size – USD 26.80 Billion in 2020, Market Growth – at a CAGR of 4.2%, Market Trends – Rising popularity of smart insulin pens

NEW YORK, NY, UNITED STATES, April 14, 2022 /EINPresswire.com/ -- The global insulin market size is expected to reach USD 26.80 billion in 2028 at a CAGR of 4.2% during the forecast period, according to the latest report by Reports and Data. Increasing prevalence of diabetes and obesity across the globe, rising dependency on insulin therapy, and rapid technological advancements in insulin delivery devices are some key factors expected to drive demand for insulin and fuel market revenue growth over the forecast period. In addition, development of newer injectable formulations of insulin, growing popularity of insulin pumps and pens, and increasing collaborations among key companies to develop insulin analogs are other major factors expected to contribute to revenue growth of the market going ahead.  

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2338

Insulin is a peptide hormone comprising 51 amino acids and is secreted by islets of Langerhans of pancreas. Insulin facilitates normal uptake of glucose in blood by binding to the receptors on plasma membranes of the cells to regulate blood glucose levels. Insulin is categorized into three types including short-acting, intermediate-acting, and long-acting insulin depending on its duration of the action. Insulin is often administrated through subcutaneous, intravenous, and intramuscular routes and is widely used in hospitals to manage hyperglycemia. Insulin is the most effective treatment of diabetes and increasing employment of insulin therapy to treat diabetes is another key factor expected to drive market growth over the forecast period. Advancements in recombinant DNA technologies have enabled the development of analogs to human insulin to boost effectiveness of insulin to regulate blood glucose levels without causing adverse effects.

Increasing research activities to develop insulin analogs and optimize insulin therapy is expected to continue to drive market growth. Insulin plays a crucial role in regulation of metabolism, and over the recent past, extensive research activities have been carried out to understand its role in various physiological processes. However, adverse effects of insulin therapy and increasing incidence of insulin resistance are expected to restrain market growth to a certain extent over the forecast period.

Some Key Highlights from the Report:

Basal or long-acting insulin segment is expected to account for a significantly large revenue share over the forecast period, attributable to increasing use of basal analogs to treat diabetes, for improving glycemic control in patients with problematic hypoglycemia, and can be easily used in different insulin regimens.

Type 1 diabetes segment is expected to register significant revenue growth over the forecast period, attributable to increasing incidence of type 1 diabetes, rising adoption of insulin injections for better management of type 1 diabetes, and availability of various insulin regimens and strategies.

Pens segment revenue is expected to expand at a rapid revenue CAGR over the forecast period, attributable to increasing adoption of insulin pens for self-management of diabetes, advancements in insulin pens and introduction of smart insulin pens, and availability of cost-effective disposable and reusable insulin pens.

Clinics segment is expected to account for a considerable revenue share in the global market over the forecast period, attributable to increasing number of diabetes clinics across the globe, presence of skilled professionals and nurses, and availability of advanced facilities at affordable prices.

North America is expected to dominate other regional market in terms of revenue share over the forecast period, attributable to high prevalence of diabetes and obesity due to unhealthy lifestyles and genetic conditions, increasing R&D activities to develop better treatment approaches for diabetes management, and presence of key players in the region.

Major companies profiled in the market report include Novo Nordisk A/S, Sanofi, Eli Lily and Company, ADOCIA, Julphar, Pfizer, Inc., Oramed Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., and GlaxoSmithKline Plc.

To know more about the report @ https://www.reportsanddata.com/report-detail/insulin-market

The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Insulin Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

Basal or Long-Acting Insulin
Bolus or Fast-Acting Insulin
Traditional Human Insulin
Combination Insulin
Biosimilar Insulin

Diseases Outlook (Revenue, USD Billion; 2018-2028)

Type 1 Diabetes
Type 2 Diabetes
Gestational Diabetes
Prediabetes

Delivery Devices Outlook (Revenue, USD Billion; 2018-2028)

Syringes
Pens
Pumps
Others

End Use Outlook (Revenue, USD Billion; 2018-2028)

Home healthcare
Hospitals
Over the counter (OTC)
Clinics
Others

Download Summary @ https://www.reportsanddata.com/download-summary-form/2338

Regional Outlook:

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/2338

Thank you for reading the report. Kindly note that we also offer customized reports according to the client requirement. Contact us to know more about the customization feature and our team will provide you with the best customized report.  

Browse More Reports:

Zika Virus Testing Market @ https://www.biospace.com/article/zika-virus-testing-market-to-reach-usd-328-3-million-in-2028-says-reports-and-data/

C-Reactive Protein Testing Market @ https://www.biospace.com/article/c-reactive-protein-testing-market-size-to-reach-usd-1-93-billion-in-2028-says-reports-and-data-/

Disruptive Behavior Disorder Treatment Market @ https://www.biospace.com/article/disruptive-behavior-disorder-treatment-market-size-to-reach-usd-26-3-billion-in-2028-says-reports-and-data/

Dried Blood Spot Collection Cards Market @ https://www.biospace.com/article/dried-blood-spot-collection-cards-market-size-to-reach-usd-373-6-million-in-2028-says-reports-and-data-/

Hematologic Malignancies Market @ https://www.biospace.com/article/hematologic-malignancies-market-size-to-reach-usd-120-56-billion-in-2028-noted-reports-and-data/

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Tushar Rajput
Reports and Data
+18008193052 ext.
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.