PUBLISHER: The Business Research Company | PRODUCT CODE: 1458700
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458700
Non-injectable insulin, a type of insulin that doesn't require injection for administration, presents an innovative approach to diabetes management, aiming to enhance convenience and patient compliance. These non-injectable forms of insulin offer alternatives to traditional injections, potentially improving the overall quality of life for individuals with diabetes. They come in various forms, such as pills, sprays, and other delivery mechanisms, providing flexibility and ease of use for patients.
Synthetic insulin and semi-synthetic insulin are the two primary types of non-injectable insulin. Synthetic insulin is artificially produced through biotechnological methods, offering precise control over its composition and properties. This type of insulin can be tailored to meet specific patient needs and preferences. Semi-synthetic insulin is derived from natural sources but undergoes chemical modifications to enhance its stability, efficacy, or other desirable characteristics. Non-injectable insulin products are distributed through various channels, including hospital pharmacies, online pharmacies, and drug stores, ensuring accessibility for patients worldwide. These innovative insulin formulations represent a significant advancement in diabetes care, providing patients with additional options for managing their condition effectively while reducing the burden of frequent injections.
The non-injectable insulin market research report is one of a series of new reports from The Business Research Company that provides non-injectable insulin market statistics, including non-injectable insulin industry global market size, regional shares, competitors with a non-injectable insulin market share, detailed non-injectable insulin market segments, market trends and opportunities, and any further data you may need to thrive in the non-injectable insulin industry. This non-injectable insulin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 observed in the historic period can be attributed to several factors, including improvements in patient compliance, efforts to address needle phobia, enhancements in quality of life, the ease of administration, and the achievement of 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 projected growth in the forecast period can be attributed to the ongoing emphasis on patient compliance, the development of solutions for needle phobia, continuous efforts to improve quality of life, ongoing enhancements in safety measures, and the reduction of infection and injury risks. Major trends expected during this period encompass technological advancements, the evolution of technological solutions, the integration of digital health technologies, the application of nanotechnology, and the development of combination therapies. These trends highlight a dynamic landscape focused on innovation and the advancement of healthcare solutions to meet evolving patient needs and improve treatment outcomes.
The increasing prevalence of obesity and diabetes is expected to drive the growth of the non-injectable insulin market. Obesity, characterized by excess body fat due to an imbalance between calorie intake and energy expenditure, and diabetes mellitus, a group of metabolic disorders marked by high blood sugar levels, are key factors contributing to this trend. Non-injectable insulin offers a promising solution for managing these conditions by overcoming barriers to insulin therapy, potentially aiding in weight management, and providing more convenient treatment options. For example, the World Heart Federation projects a rise in global obesity rates from 2.3 billion in 2021 to 2.7 billion by 2025. Additionally, a report by the British Diabetic Association indicates that in the UK, 4.3 million individuals have diabetes, with over 2.4 million at high risk of developing type 2 diabetes. This trend is further underscored by a 148,951 increase in registration numbers for 2021-22 compared to the previous year. As such, the non-injectable insulin market is poised for significant growth due to the escalating challenges of obesity and diabetes.
Major companies in the non-injectable insulin market are focusing on innovative drug delivery technologies, such as needle-free oral insulin sprays, to enhance the lives of individuals managing diabetes with multiple insulin injections. Needle-free insulin sprays offer a painless alternative for regulating blood glucose levels, providing a convenient option by allowing doses to be sprayed directly into the mouth. For example, NiedlFree Technologies introduced Ozulin, an oral insulin spray, in November 2023. Ozulin aims to offer a user-friendly solution for individuals with diabetes, especially those who may struggle with traditional injectable insulin methods. If approved, Ozulin could revolutionize diabetes management by offering a more convenient and pain-free alternative to insulin injections.
In September 2023, Abbott Laboratories, a US-based medical device company, acquired Bigfoot Biomedical Inc. for an undisclosed amount. This acquisition merges Abbott's proficiency in continuous glucose monitoring with Bigfoot's smart insulin management systems, bolstering Abbott's standing as a leader in comprehensive diabetes care. The acquisition aligns with Abbott's dedication to advancing connected solutions for precise diabetes management. Bigfoot Biomedical Inc., a US-based medical technology company, specializes in intelligent insulin administration systems for diabetes care.
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
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.
The countries covered in the non-injectable insulin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The non-injectable insulin market consists of sales of oral insulin, inhaled insulin, nasal insulin, carrier agents, and stabilizers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Non-injectable Insulin Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on non-injectable insulin market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for non-injectable insulin? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The non-injectable insulin market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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