The non-injectable insulin global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Non-injectable Insulin Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The non-injectable insulin market size has grown rapidly in recent years. It will grow from $1.71 billion in 2023 to $1.92 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to patient compliance improvement, addressing needle phobia, quality of life enhancement, ease of administration, and stable blood glucose control.
The non-injectable insulin market size is expected to see rapid growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to continued patient compliance emphasis, persistent needle phobia solutions, further quality of life improvements, continuous safety enhancement, and reduced infection and injury risks. Major trends in the forecast period include technological advancements, evolution of technological solutions, digital health integration, nanotechnology applications, and combination therapies.
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Scope Of Non-injectable Insulin Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Non-injectable Insulin Market Overview
Market Drivers –
The rising obesity and diabetes issues are expected to propel the growth of the non-injectable insulin market going forward. Obesity is a condition characterized by excessive accumulation of body fat, usually resulting from an imbalance between energy intake (calories consumed) and energy expenditure, while diabetes mellitus, often referred to simply as diabetes, is a group of metabolic disorders characterized by high blood sugar levels over a prolonged period. Non-injectable insulin is used to treat diabetes and obesity, with the potential to improve management by addressing barriers to insulin therapy, offering potential weight management benefits, and providing more convenient treatment options. For instance, in 2022, according to the World Heart Federation, a Switzerland-based non-governmental organization, global obesity rates are expected to surge, with an estimated 2.3 billion people in 2021, including children and adults, facing overweight and obesity, this is likely to rise to 2.7 billion by 2025. Furthermore, in April 2023, according to a report published by the British Diabetic Association, a UK-based diabetes charity, in the UK, 4.3 million individuals have diabetes, and more than 2.4 million people in the UK are at high risk of acquiring type 2 diabetes. Registration numbers for 2021–22 are up 148,951 from 2020–21. Therefore, rising obesity and diabetes issues are driving the growth of the non-injectable insulin market.
Market Trends –
Major companies operating in the non-injectable insulin market are focusing on innovative advancements in drug delivery technologies, such as needle-free oral insulin spray, to improve the lives of people who manage their diabetes with multiple insulin injections. A needle-free insulin spray is a painless and needle-free alternative for regulating blood glucose, offering a convenient option as the doses can be sprayed directly into the mouth. For instance, in November 2023, NiedlFree Technologies, an India-based technology platform, introduced Ozulin, an oral insulin spray. This oral insulin spray is intended to provide a more user-friendly solution for individuals with diabetes, particularly those who may find traditional injectable insulin methods challenging. If approved, Ozulin has the potential to be a game-changer for diabetics, offering a more convenient and pain-free alternative to insulin injections.
The non-injectable insulin market covered in this report is segmented –
1) By Type: Synthetic Insulin, Semi Synthetic Insulin
2) By Product: Pills, Sprays, Other Products
3) By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Drug Stores
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Regional Insights –
North America was the largest region in the non-injectable insulin market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-injectable insulin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Sanofi S.A, Bristol-Myers Squibb Company, AstraZeneca, Abbott Laboratories, GlaxoSmithKline, Takeda Pharmaceutical, Eli Lilly and Company, Boehringer Ingelheim, Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sun Pharmaceutical Industries Ltd., Ipsen S.A., Cadila Healthcare Limited, Dr. Reddy’s Laboratories Limited, Cipla Limited, Lupin Pharmaceuticals, Glenmark Pharmaceuticals, Torrent Pharmaceuticals, Biocon Limited, Wockhardt Limited
Table of Contents
1. Executive Summary
2. Non-injectable Insulin Market Report Structure
3. Non-injectable Insulin Market Trends And Strategies
4. Non-injectable Insulin Market – Macro Economic Scenario
5. Non-injectable Insulin Market Size And Growth
…..
27. Non-injectable Insulin Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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