DUBLIN--(BUSINESS WIRE)--The "Rapid Acting Insulin Market Report, Forecast by Product, Indication, Distribution Channel, Countries and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global rapid-acting insulin market is expected to grow at a CAGR of 4.75% and reach US$ 11.17 billion by 2032, from US$ 7.36 billion in 2023. The market is mainly driven by growth rate of diabetes and the rise in investment in research and development for human recombinant insulin.
Globally, rapid acting insulin has turned into an essential part of controlling both type 1 and type 2 diabetes. It is employed in multiple daily injections and insulin pump therapy in the developed regions as it provides better glycemic control and increased modem freedom to the patients. The fast-acting insulin availability over the past years has increased, and people from many developing countries can get them, but issues with availability and cost remain relevant in some territories.
With the rising incidence of diabetes and the improved understanding and acceptance of the benefits of achieving better control of blood glucose levels and, therefore, a reduction in the incidence of microvascular complications of diabetes by using rapid-acting insulin, its use across the world is likely to increase further. Having understood the importance of insulin, research is still being conducted to determine even faster acting insulins, and better ways of administering the insulin in the management of diabetes.
Rising global diabetes prevalence:
The global occurrence of diabetes has also risen at a high rate and this is one which has made the market for rapid acting insulin to grow rapidly as well. The International Diabetes Federation indicates that as per 2.01 trillion adults suffer from diabetes, and this figure could reach 700 million by 2045. This rise is as a result of poor dieting, physical inactivity, overweight and obesity, as well as aging baby boomers.
The global type 2 diabetes prevalence is increasing, and with the increase in the number of cases, there is the demand for efficient blood glucose control products, including insulin. In addition, more identification of cases through technological enhancement in diagnosing the disease and growth awareness of diabetes care in the emerging nation progress early detection and treatment of diabetes more market for rapid-acting insulin product in the world.
Technological advancements in insulin delivery systems:
Enhancements of insulin delivery systems are prospectively the major growth contributors to the global demand of rapid-acting insulin. Growth of insulin pens, pumps, and smart insulin-delivery systems has increased the usability and accuracy of basal bolus and rapid-acting insulin administration with broader use of rapid-acting insulin.
CGM and insulin pump combination makes the accurate dosing and good glycemic control because CGM systems provide more information than traditional self-monitoring of blood glucose. Closed loop systems or what is also known as 'the artificial pancreas' that regulates insulin dosage with reference to real time glucose levels has a strong foundation by virtue of rapid-acting insulins. Such developments bring the better outcomes for the patients and increase patients' quality of life, their tendency to use the rapid-acting insulins and, therefore, the market growth.
Increasing focus on personalized diabetes management:
Personalized medicine in the management of diabetic diseases increases the growth in the demand for rapid-acting insulin. Today, the patients with diabetes type 2 are developing personalized programs of the disease treatment which taken into consideration the patient's lifestyle, preferences in terms of diet, and hereditary factors. The second type of insulin has the advantage of more flexibility in dosing and in timing.
Also important is that new types of insulin - ultra-rapid-acting - mean even more choice for personalized treatment. Also, the personalized approach to diabetes management fuels investigations into genetic determinants of insulin sensitivity which might contribute to development of individualized treatment strategies. The increasing trend of individualization also contributes to several RAPI products, particularly various products of rapid-acting insulin, which will unlock the market's growth further.
China Rapid Acting Insulin Market
China's market for rapid-acting insulin is expanding because of the rising instances of diabetes and people's enhanced knowledge of how to manage the condition. In 2.02 trillion adults live with the disease globally and China being the most populous country in the world is not exempted from this burden.
Fast-acting insulin or rapid-acting insulin is helpful in controlling blood sugar especially before meals. These insulins begin to act within fifteen minutes of injection and act to prevent the post-prandial rise in blood glucose. The Chinese authorities have undertaken efforts to enhance the treatment of diabetes and the availability of Insulin, thus contributing to market progression.
Nevertheless, difficulties persist, such as patient enlightenment, development of a better rural health system, as well as the question of cost. Since China will maintain its efforts in the healthcare reform and the management of chronic disease, the market for rapid-acting insulin is expected to grow and can create opportunities for the existing players as well as the newcomers. In May 2024, Eli Lilly entered the Chinese market securing approval to sell its diabetes drug tripeptide, ramping up a Europe and North America fight with Danish peer Novo Nordisk.
Rapid Acting Insulin Company Analysis
The Rapid Acting Insulin market is dominated by several leading companies, including 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. These companies are at the forefront of developing and manufacturing rapid-acting insulin products, playing a vital role in meeting the world healthcare needs of individuals with diabetes.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $7.36 Billion |
| Forecasted Market Value (USD) by 2032 | $11.17 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Key Players Analysis:
- 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.
- Wockhardt Ltd.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
4.3 Opportunities
5. Global Rapid Acting Insulin Market
6. Market Share Analysis
6.1 By Product
6.2 By Indication
6.3 By Distribution Channel
6.4 By Countries
7. Product
7.1 Lispro Insulin
7.2 Aspart Insulin
7.3 Glulisine Insulin
8. Indication
8.1 Type 1 Diabetes
8.2 Type 2 Diabetes
9. Distribution Channel
9.1 Hospital Pharmacies
9.2 Drug Stores and Retail Pharmacies
9.3 Online Stores
10. Countries
10.1 North America
10.1.1 United States
10.1.2 Canada
10.2 Europe
10.2.1 France
10.2.2 Germany
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Belgium
10.2.7 Netherlands
10.2.8 Turkey
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia
10.3.5 South Korea
10.3.6 Thailand
10.3.7 Malaysia
10.3.8 Indonesia
10.3.9 New Zealand
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Argentina
10.5 Middle East & Africa
10.5.1 South Africa
10.5.2 Saudi Arabia
10.5.3 UAE
11. Porter's Five Forces Analysis
11.1 Bargaining Power of Buyers
11.2 Bargaining Power of Suppliers
11.3 Degree of Rivalry
11.4 Threat of New Entrants
11.5 Threat of Substitutes
12. SWOT Analysis
12.1 Strength
12.2 Weakness
12.3 Opportunity
12.4 Threat
For more information about this report visit https://www.researchandmarkets.com/r/y9z8fq
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