Insulin Market – By Type, By Product, By Application, By Distribution Channel - Global Forecast, 2025 – 2034

Insulin Market Size

The global insulin market size was valued at USD 29.4 billion in 2024. The market size is estimated to grow from USD 31 billion in 2025 to USD 43 billion in 2034 growing at a CAGR of 3.7% from 2025 to 2034. The increasing prevalence of diabetes, particularly type 2 diabetes globally due to lack of physical activity, increased obesity, and aging population is a major growth factor for the market. Few other factors such as unhealthy lifestyle, increased calories and glycemic load, genetic predisposition, and stress also play a critical role in diabetes.
 

The International Diabetes Federation (IDF) identifies diabetes as one of the rapidly growing non-communicable chronic diseases of the 21st century. In 2021, it is estimated that 537 million people had diabetes, and this number is projected to reach 643 million by 2030, and 783 million by 2045. Thus, such high prevalence of diabetes cases increases the demand for effective therapeutics, thereby driving market growth.

Furthermore, there has been a rise in the adoption of early medical interventions as well as an increase in education surrounding diabetes that fuels the demand for insulin. Insulin therapy is a critical component in managing diabetes. It helps keep blood sugar under control and prevents diabetes complications.
 

The introduction of ultra-rapid-acting, long-acting, and biosimilar insulins has been made possible with the advancements in R&D which has improved treatment options for patients. These advancements in formulations enhance treatment options and patient adherence to treatment. There is also an increase in government and NGO spending in lower and mid-level economies, which boosts the purchase of insulin, which in turn expands the market further. Also, favorable reimbursement policies in developed countries are estimated to boost the overall market.

Insulin is a hormone that lowers the level of glucose (a type of sugar) in the blood. It is made by the beta cells of the pancreas and released into the blood when the glucose level goes up, such as after eating. Insulin helps glucose enter the body's cells, where it can be used for energy or stored for future use. In diabetes, the pancreas doesn't make enough insulin, or the body can't respond normally to the insulin that is made. This causes the glucose level in the blood to rise. This market includes various types of insulin formulations, such as rapid-acting, short-acting, intermediate-acting, long-acting, and premixed insulin, as well as biosimilar insulins.
 

Insulin Market Trends

• The surge in diabetes around the world is one of the leading reasons for the increased need for insulin. Diabetes is one of the leading causes of death and disability worldwide, and affects people regardless of country, age group, or gender.
   
• For instance, as per a report published by the Lancet, more than half a billion people are living with diabetes worldwide, affecting men, women, and children of all ages in every country, and that number is projected to more than double to 1.3 billion people in the next 30 years, with every country seeing an increase. The majority of these cases are predicted to be type 2 diabetes.
• The primary contributing factor is urbanization, aging population, and a massive dip in physical activities and while the increase in obesity plays its part. The IDF emphasizes the importance of preventive measures, early diagnosis, and proper care to mitigate diabetes complications.
   
• This escalation of cases suffering from diabetes has increased the need for insulin as a critical treatment plan to manage blood sugar levels, especially for patients with diabetes type 1 and advanced stage type 2 diabetes.
   
• Obesity significantly increases the risk of diabetes. In 2024, the NCD Risk Factor Collaboration (NCD-RisC) published findings that estimate that more than one billion people in the world are now living with obesity, nearly 880 million adults and 159 million children and adolescents aged 5-19 years.
   
• Similarly, childhood obesity has rapidly increased in recent years. According to UNICEF’s estimates, in the year 2000 around 30 million children under the age of 5 years were living with overweight or obesity, rising to 37 million children in 2022. Obesity is a common risk factor that can lead to the development of prediabetes and type 2 diabetes. Thus, such alarming rise in obesity increases the predisposition to diabetes, consequently driving the market growth.
   
• Moreover, novel systems for the delivery of drugs such as insulin pumps, smart pens, and continuous glucose monitoring systems have made diabetes management simpler for patients. Also, GLP-1 receptor agonist therapies facilitate restoring insulin secretory functions, improving glycemic control, and reducing weight in type 2 diabetes patients, thus enhancing treatment compliance and making insulin therapy feasible.
   

Insulin Market Analysis

Based on the type, the global market is segmented into human insulin and insulin analog. The insulin analog segment accounted for the highest market share and was valued at USD 22.3 billion in 2024. The market size of insulin analog segment was USD 18.3 billion in 2021, and USD 19.7 billion and USD 21 billion in 2022 and 2023, respectively.
 

• Insulin analogs dominate the market due to their unmatched effectiveness, safety, and greater compliance when compared to traditional human insulin.  Insulin analogs are associated with lower risks of hypoglycemia, lower levels of postprandial glucose excursions, better patient adherence, greater patient outcomes, and higher satisfaction with treatment.
   
• Insulin analogs provide dosing flexibility, which may improve patient satisfaction and adherence to therapy, and are easy to administer. Also, long-acting insulin analogs, particularly insulin detemir, are associated with less weight gain.
   
• In addition, compared with regular human insulin, insulin analog offers the advantages of faster subcutaneous absorption, an earlier and greater insulin peak, and a shorter duration of action.
   
• Further, the introduction of biosimilar insulin analogs has greatly broadened the demographic and geographic acceptance, thus enhancing the utilization of these therapies.
   

Based on the product, the global insulin market is categorized into long-acting insulin, rapid-acting insulin, combination insulin, biosimilar, and other products. The long-acting insulin segment dominated the market with 45.4% market share in 2024.
 

• Long-acting insulin is designed for slow release, ensuring a consistent baseline insulin level over an extended period in the blood. It acts slowly due to the precipitation caused when insulin is injected subcutaneously.
   
• Also, the long-acting insulin, which can last up to 42 hours, decreases the patient's insulin injection frequency and helps them adhere to the treatment. These medications are effective at mimicking the secretion of natural basal insulin, which aids in controlling stable blood glucose levels, reducing the chances of hypoglycemia.
   
• Hence, increase in patient compliance with long-acting insulin boosts the adoption of long-acting insulin products.
   
• Further, the development and commercialization of a vast range of long-acting insulins by insulin manufacturers has significantly contributed to their high market share. Favorable reimbursement, technological advancement in the delivery devices of insulin, and the increased focus on personalized care for diabetes management are other factors which shall continue to ensure dominance of long-acting insulin segment in the market.
   

Based on the application, the global insulin market is categorized into type 1 diabetes mellitus, type 2 diabetes mellitus, and gestational diabetes. The type 1 diabetes mellitus segment dominated the market in 2024 with a market share of 75.2% and is anticipated to witness growth at a CAGR of 3.6% over the forecast years.
 

• The rising population of patients with type 1 diabetes is expected to exacerbate the growth of the market. As of 2021, an approximate total of 8.4 million individuals were diagnosed with type 1 diabetes mellitus (T1DM) across the globe, with 500,000 new cases reported that year alone. The projection for T1DM sufferers is expected to increase to 13.5 - 17.4 million by the year 2040.
   
• Type 1 diabetes occurs in patients with insulin deficiency. Patients with type 1 diabetes must inject insulin every day, often up to 4 or 5 times per day. Thus, type 1 diabetes patients have a significant and lifelong reliance on external insulin for managing the disease.
   
• Unlike type 2 diabetes where oral medication and lifestyle changes could be effective, type 1 diabetes mellitus patients need frequent insulin delivery to control blood sugar levels and avoid complications.
   
• Moreover, the development of new technologies in rapid acting and long-acting insulin formulations also improves patient outcomes, making a positive contribution to the dominant share of type 1 diabetes mellitus in the market.
   

Based on the distribution channel, the global insulin market is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market in 2024 and is expected to reach USD 22.4 billion by 2034.
 

• The segment of hospital pharmacies holds significant market share of insulin due to high diabetes related hospital admissions and the essential role of hospitals in the treatment of advanced diabetes.
• Also, hospitals have stocks of various insulin products that include fast, slow, and mixed acting insulin for different patients.
  
   
• The growing incidence of complications such as diabetic ketoacidosis (DKA) and hyperosmolar hyperglycemic state (HHS) warrants the hospital-based insulin treatment, which further increases the need for the hospital pharmacies.
   
• Further, the adoption of sophisticated healthcare systems like EHR and automated drug dispensing systems improves the efficiency of insulin use in hospitals and contributes to the domination of this segment in the market.
   
• Thus, given the rising population of diabetes patients along with the growing use of new methods of insulin administration in the hospitals, it is anticipated that the hospital pharmacies segment will sustain its dominant share of the market.
   

The North America insulin market dominated the global market with market share of 40.3% in 2023. The U.S. market was valued at USD 9.1 billion in 2021. In 2023, the U.S. dominated the North America market with a revenue of USD 10.2 billion growing from USD 9.6 billion in 2022.
 

• Several attributes such as high diabetes rates in the country, robust healthcare system, and considerable allocation of funds towards insulin R&D helps the U.S. retain a major market portion of the global market.
   
• For example, 1.2 million Americans are diagnosed with diabetes every year. In 2021, 38.4 million Americans, or 11.6% of the population, had diabetes, of which 2 million Americans have type 1 diabetes, including about 304,000 children and adolescents.
   
• Also, around 97.6 million Americans aged 18 and older had prediabetes. Such high volume of patients in the country increases the demand for insulin, thereby driving the market growth.
   

• In addition, the presence of leading insulin manufacturers in the country, who constantly supply innovative and effective insulin products including next generation insulin will likely continue to lead an increasing share of the market.
   

Europe insulin market is anticipated to witness significant growth at a CAGR of 4% over the forecast years.
 

• High regional market growth is owing to its well-developed healthcare framework alongside strong governmental diabetes support and a high diabetes population.  As per the Diabetes Atlas report, 2000 - 2045, Europe has the highest number of children and adolescents with type 1 diabetes (295,000) as well as the highest incidence annually with 31,000 new cases per year.
   
• Further, nations such as Germany, France, and UK have a substantial diabetic population which greatly increases the demand for insulin.  
   
• Also, the region’s growth is bolstered by the favorable reimbursement policies alongside government programs aimed at improving diabetes management.

Germany insulin market is anticipated to witness considerable growth over the analysis period.
 

• The growth of Germany’s market is being driven by the rising incidence of diabetes in the country. In Germany, about 8.5 million people suffer from diabetes. According to estimates, about 2 million people live with undiagnosed diabetes. The prevalence of diabetes in German population is estimated to be 10%.
   
• In addition, higher utilization of insulin is made possible by the government supportive reimbursement policies and investment in diabetes management programs.
   
• Moreover, the presence of key players such as Sanofi, Novo Nordisk, and Eli Lilly fosters growth by innovation and provision of various new products, thereby strengthening the market.
   

The Asia Pacific region demonstrates significant growth potential in the global insulin market.
 

• Asia Pacific market is poised for high growth owing to the rapid proliferation of diabetes, growing health expenditures, and enhanced scope of healthcare.
   

• Countries such as China and India together make up a sizable portion of the diabetic population, which increases the demand for insulin products. Therefore, government policies aimed at controlling diabetes, like federal health programs and subsidized insulin therapy, are also helpful in accelerating market growth.
   

• For instance, the ‘Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) initiative by the government of India provides quality generic medicines including insulin at affordable prices to all in collaboration with the state governments. Such initiatives along with price subsidies increase the treatment adoption rates, thereby propelling the overall market growth.
   

Brazil insulin market is experiencing significant growth in the Latin America market.
 

• With the surge in diabetes cases and diabetes care awareness, Brazil marks significant market share in Latin America market. The country is one of the most economically developed countries in Latin America and has more than 16 million diabetic adults.
   
• It is estimated that 7.7 million people (20–79 years) in the country have not yet been diagnosed, representing an under-diagnosis rate of 46%. This rising rate of diabetes has created a promise for growth in the market in the country.
   
• Additionally, the government’s focus on improving diabetes treatment which includes subsidized insulin programs through the Unified Health System (SUS), is facilitating the rise in demand.

Saudi Arabia insulin market is poised to witness rapid growth in the Middle East and Africa market.
 

• In Saudi Arabia, the market is growing due to increasing cases of diabetes in the country.  For instance, in 2021, approximately 18.2% of Saudi Arabia adult population was estimated to have diabetes, this number is projected to increase to 24.3% by 2026. The rising adoption of sedentary lifestyles coupled with high obesity are major contributors to high diabetes rates and consequent high demand for insulin therapies.
   
• Also, the increase in elderly population and greater understanding of diabetes control is likely to drive the growth of insulin consumption over the next few years.
   

Insulin Market Share

The major players operating in the insulin industry include Eli Lilly, Novo Nordisk, and Sanofi. These top 3 players account for approximately over 90% of the global market. These market players focus on strategies such as mergers, acquisitions, innovative product development and launches, expansion, and collaboration to generate more revenue and withstand market competition. For instance, in December 2024, Eli Lilly announced a USD 3 billion expansion of its Wisconsin manufacturing facility. This investment will extend the company's global parenteral (injectable) product manufacturing network, helping to meet the growing demand for its diabetes, obesity and future pipeline medicines across therapeutic areas.
 

Moreover, businesses are allocating more resources to research and next-generation formulation development work, including ultra rapid acting and biosimilar insulin drugs which aim to be more effective, cheaper, and easier to access. To serve price sensitive regions, these producers are also introducing cheaper products and adopting cost containment measures so that insulin therapy would be affordable to patients around the globe.
 

Insulin Market Companies

Some of the prominent players operating in the insulin industry include:

• Adocia
• Biocon
• Boehringer Ingelheim International
• Eli Lilly and Company
• Gan & Lee Pharmaceuticals
• Gland Pharma
• Julphar
• MannKind Corporation
• Novo Nordisk
• Pfizer
• Sanofi
• Shanghai Fosun Pharmaceutical
• Tonghua Dongbao Pharmaceutical
• United Laboratories International
• Wockhardt
   

Sanofi is among the leading world’s insulin producers. In December 2024, Sanofi has announced a significant investment of approximately about USD 1 billion to establish a new insulin production facility in Beijing, China. This marks Sanofi's largest single investment in the country to date, which is strategically along with bolstering its manufacturing infrastructure due to the surging diabetes epidemic in China. The China market for treatment of diabetes is huge; around 140 million people in the mainland, nearly 12% of its population, has diabetes. This will provide significant growth opportunities to Sanofi.
 

Biocon is an innovation led fully integrated biopharmaceutical company that develop affordable biosimilars, generic formulations and complex APIs. In November 2021, Viatris Inc. and Biocon Biologics Ltd. announced the U.S. launch of interchangeable biosimilars SEMGLEE (insulin glargine-yfgn) injection, a branded product, and Insulin Glargine (insulin glargine-yfgn) injection, an unbranded product, to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes. Branded and unbranded versions of the first-ever interchangeable biosimilar in the U.S. provide more affordable options for the millions of Americans living with diabetes.
 

Insulin Industry News

• In December 2024, Adocia and Tonghua Dongbao announced the completion of the final dosing in a phase 3 clinical study of BioChaperone Lispro, an ultra-rapid insulin formulation aimed at treating type 2 diabetes. BioChaperone Lispro is designed to act faster than traditional insulins, potentially improving patient outcomes by allowing for more precise dosing during meals.
   
• In March 2023, Eli Lilly and Company announced price reductions of 70% for its most prescribed insulins and an expansion of its Insulin Value Program that caps patient out-of-pocket costs at USD 35 or less per month. These measures aim to improve insulin accessibility for people with diabetes amid rising costs in the healthcare system.
   
• In May 2022, MannKind Corporation announced an agreement to acquire the V-Go insulin delivery device from Zealand Pharma A/S. This acquisition helped the company to enhance its offerings in diabetes management solutions.
   

The insulin market research report includes in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2034 for the following segments:

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Market, By Type

• Human insulin
• Insulin analog         

Market, By Product

• Rapid-acting insulin
• Long-acting insulin
• Combination insulin
• Biosimilar
• Other products

Market, By Application

• Type 1 diabetes mellitus
• Type 2 diabetes mellitus
• Gestational diabetes

Market, By Distribution Channel

• Hospital pharmacies
• Retail pharmacies
• Online pharmacies

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE