Non-Injectable Insulin Sales to Surge at 9.50% CAGR by 2034, Fueled by R&D and Innovation | Future Market Insights, Inc
The non-injectable insulin market is poised for significant growth, propelled by advancements in drug delivery technologies and a rising demand for convenient and patient-friendly insulin treatments. This report delves into the future of insulin therapy over the next decade, highlighting the increasing prominence of non-invasive insulin delivery methods.
NEWARK, Del., Nov. 23, 2023 /PRNewswire/ -- Oral Pills and Hospital Pharmacies Market Analysis for Non-Injectable Insulin 2024 to 2034
The non-injectable insulin market is projected to generate US$ 1372.9 million in 2024. According to projections, the market will reach US$ 4,418.70 million in 2034. Between 2023 and 2033, the market is expected to register a CAGR of 9.50%. Pharmaceutical companies and researchers strive to offer more convenient alternatives to traditional insulin injections, the market for non-injectable insulin has seen notable growth in recent years. With products like Afrezza, inhaled insulin offers needle-free administration, so it has been gaining attention for enhancing treatment adherence.
As insulin is easy to administer, enzyme degradation may challenge its advancement, but new formulations and protective technologies are helping to address this issue. With advancements in skin permeability, transdermal insulin delivery is becoming a less invasive option. Long-term safety and efficacy are being refined for implantable insulin delivery devices.
Regulatory approvals and clinical trials of non-injectable insulin are poised to grow the market substantially, making it easier for diabetics to manage their condition. Healthcare stakeholders, who expect a significant impact on diabetes management, are closely monitoring these developments. The FDA approved a new emergency hypoglycemia treatment, Baqsimi. Individuals four years and older can receive this treatment, a powder administered through the nose. The United States has approved injectable glucagon for several decades. It was the first non-injectable glucagon product that was available.
A speaker at the World Congress on Insulin Resistance, Diabetes and Cardiovascular Disease said there are several new ways diabetes patients could manage their condition through non-injectable insulin delivery. According to a speaker, oral insulin formulation could become a reality soon. The FDA approved Semaglutide (Rybelsus, Novo Nordisk) in September for treating type 2 diabetes without injections. Several large trials showed that this therapy reduced HbA1c significantly compared to placebo in several large trials. In addition to empagliflozin, sitagliptin, and empagliflozin, the oral SGLT2 inhibitor was demonstrated to reduce HbA1c significantly.
Non-injectable Insulin Market Research Report Coverage: 2024-2034
Attributes | Details | ||||
Estimated Market Size in 2024 | US$ 1372.9 million | ||||
Projected Market Valuation in 2034 | US$ 4,418.70 million | ||||
Value-based CAGR 2024 to 2034 | 9.50 % | ||||
Forecast Period | 2024 to 2034 | ||||
Historical Data Available for | 2019 to 2023 | ||||
Market Analysis | Value in US$ million | ||||
Key Regions Covered | North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia The Middle East & Africa | ||||
Key Market Segments Covered | Dosage Distribution Channel Region | ||||
Key Countries Profiled | The United States Canada Brazil Mexico Germany The United Kingdom France Spain | Italy Russia Poland Czech Republic Romania India Bangladesh Australia | New Zealand China Japan South Korea GCC countries South Africa Israel | ||
Key Companies Profiled | Novo Nordisk Sanofi Eli Lilly MannKind Corporation Biocon | Janssen Pharmaceuticals Adocia Oramed Pharmaceuticals Dance Biopharm Medtronic | Verily Life Sciences Zafgen Dance Biopharm Senseonics Bigfoot Biomedical | ||
Understand global, regional, and country-level parameters with growth opportunities, historical data (2019-2023), and forecasts (2024-2034). Buy this report today!
Key Takeaways
- Based on dosage, oral pills are projected to hold a market share of 47% during the forecast period.
- Hospital pharmacies are expected to account for 46% of the market in 2024.
- The non-injectable insulin market in China is forecast to increase by 11.2% CAGR from 2024 to 2034.
- Non-injectable insulins are projected to expand at a CAGR of 7.2% in the United States.
- The market for non-injectable insulin in Japan is predicted to expand at a CAGR of 5.4%.
"Research and development activities in the healthcare sector have increased. A combination of new technologies and studies will increase the demand for non-injectable insulins on the market," says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape
A high level of fragmentation characterizes non-injectable insulin management owing to multiple participants. Patients with diabetes have benefited from technology.
- With modern insulin treatment solutions, managing insulin levels successfully is much easier and more efficient than traditional insulin methods. Through mergers, acquisitions, partnerships, collaborations, and product launches.
- Industry Developments Include
- In April 2023, Spin-off developed oral insulin and received commercial backing. Proto Axiom, an Australian biotechnology incubator, has given $2.2 million in funding to a company founded by three University of Sydney and Sydney Local Health District academics.
- In June 2023, Dexcom announced the development of an automated continuous glucose monitoring solution aimed at the 25 million Americans without insulin-dependent type 2 diabetes. People without insulin who have type 2 diabetes will be able to use Dexcom's innovative CGM system.
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More Valuable Insights Available
Future Market Insights offers an unbiased global market analysis, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the non-injectable insulin market, the market is segmented based on Dosage (Oral Pills, Sprays, Others), Distribution Channel (Hospital Pharmacies, Online Pharmacies, Drug Stores), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective of providing authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends, including competitive landscape, profit margin, and research development efforts.
About the Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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