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Global Rapid Acting Insulin Market to Reach US$ 9.3 Billion by 2027, Impelled by Rising Diabetic Population

Published on Mar 03, 2022

According to the latest report by IMARC Group, titled "Rapid Acting Insulin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global rapid acting insulin market reached a value of US$ 7 Billion in 2021. Rapid acting insulin refers to a device that is generally used for controlling glucose levels in patients suffering from diabetes. It can either be delivered via insulin pumps or administered into the bloodstream with a syringe. Apart from this, it can also be inhaled through the mouth. There has been a considerable increase in the adoption of rapid acting insulins across the globe due to the increasing awareness among the masses and the easy product availability via online and offline pharmacy retail channels.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Rapid Acting Insulin Market Trends:

The global market is primarily driven by the rising prevalence of diabetes among individuals. This is supported by the rising consumption of fast foods and the sedentary lifestyle led by the majority of the masses. Coupled with the increasing risks of severity and mortality among patients suffering from other chronic illnesses, this is creating a positive outlook for the market. Additionally, continuous product innovations, such as the introduction of advanced rapid acting insulins with improved glycemic control, are gaining widespread prominence among individuals and healthcare professionals. Along with this, rising investments by public and private firms for upgrading the existing healthcare infrastructure is propelling the market growth. Furthermore, numerous initiatives undertaken by the governments of multiple countries to create awareness regarding the adverse effects of diabetes, along with the importance of effective treatments, are positively influencing the market growth. Other factors, including the increasing healthcare expenditure and extensive research and development (R&D) activities conducted by key players, are also contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 9.3 Billion by 2027, growing at a CAGR of 5.2% during 2022-2027.

Market Summary:

  • On the basis of the product, the market has been segmented into lispro, aspart and glulisine insulins.
  • Based on the indication, the market has been bifurcated into type 1 and type 2 diabetes.
  • On the basis of the distribution channel, the market has been segregated into hospital pharmacies, drug stores and retail pharmacies and online stores.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players are Adocia, Biocon Limited, Eli Lilly and Company, Gan & Lee Pharmaceuticals Co. Ltd., Geropharm, MannKind Corporation, Merck & Co. Inc., Novo Nordisk A/S, Sanofi S.A., and Wockhardt Ltd.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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