Overview and Scope
Non-injectable insulin is a type of insulin that can be administered into the body without the need for injection. These non-injectable forms of insulin aim to offer alternatives to traditional injections, making diabetes management more accessible and potentially improving the overall quality of life for individuals with diabetes.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the non-injectable insulin market report are 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
The non-injectable insulin market report table of contents includes:1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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