Short-Acting Insulin Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Short-Acting Insulin Market is segmented By Type (Insulin Lispro, Insulin Aspart, Insulin Glulisine), By Indication (Type 1 Diabetes, Type 2 Diabetes)....
Short-Acting Insulin Market Size
Market Size in USD
CAGR5.1%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 5.1% |
| Market Concentration | High |
| Major Players | Eli Lilly and Company, Novo Nordisk, Sanofi, Biocon, Adocia |
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Short-Acting Insulin Market Analysis
The short-acting insulin market is estimated to be valued at USD 9.5 Bn in 2024 and is expected to reach USD 13.2 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031. The market is expected to grow steadily over the forecast period due to the increasing prevalence of diabetes globally and rise in healthcare expenditure.
The short-acting insulin market is expected to witness substantial growth over the coming years. Key growth factors for the market include the rising incidence of diabetes, growing geriatric population, and increasing healthcare spending.
Moreover, the development of cost-effective biosimilar insulin drugs and the introduction of innovative fast-acting insulin analogs are also contributing to market growth. However, strict regulations for the approval of insulin drugs and the availability of alternative treatment options for diabetes may hamper market growth during the forecast period. Overall, increasing diabetes prevalence and improved access to diagnosis and treatment define the future growth trajectory of the short-acting insulin market.