Report : Middle East & Africa Insulin Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Long Acting Insulin, Rapid Acting Insulins, Short acting Insulins and Traditional Human Insulins, Concentrated Insulins and Combination Insulins, Biosimilar Insulins, Glucagon-like peptide-1 (GLP-1), Pens and Needles, and Others)
At 9.2% CAGR, the MEA Insulin Market is speculated to be worth US$ 5,549.57 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA insulin market was valued at US$ 3,255.91 million in 2022 and is expected to reach US$ 5,549.57 million by 2028, registering an annual growth rate of 10.5% from 2022 to 2028. Regeneration of diabetic pancreas with advanced transplants and insufficient competition from biosimilars are the critical factors attributed to the market expansion.
Artificial pancreas can control blood sugar levels for people with type 1 diabetes better than the standard treatment. For people with type 1 diabetes (T1D), continuous glucose monitoring (CGM) devices provide around-the-clock information on blood glucose levels, which is then used to determine how much insulin is needed. Insulin pumps allow the insulin doses to be administered subcutaneously throughout the day. Cells naturally produce small molecules, hormones, and proteins to keep the body functioning properly. These cells are used to rather rely on injections or pills to replace biomolecules produced by diseased cells, using an encapsulated cell. Despite frequent monitoring of blood sugar levels and dose adjustments, insulin injections do not ideally recreate the natural waves of insulin released from the pancreas. This leaves patients continually working to avoid chronically high or low blood sugar, which can cause blindness, diabetic coma, or life-threatening insulin shock. Various research groups have been working on regeneration technology with diverse results. This promising technology will help in the removal of diabetes-related problems and is expected to be a prevalent future trend in the insulin market.
On the contrary, risks associated with insulin delivery devices hurdles the growth of MEA insulin market.
- Based on type, the MEA insulin market is segmented into long acting insulin, rapid acting insulin, short acting insulin & traditional human insulin, concentrated insulin & combination insulin, biosimilar insulin, glucagon-like peptide-1 (GLP-1), pen & needle, and others. The long acting insulin segment held 26.5% market share in 2022, amassing US$ 861.76 million. It is projected to garner US$ 1,465.32 million by 2028 to expand at 9.3% CAGR during 2022–2028.
- Based on long acting insulin, the MEA insulin market is sub-segmented into Levemir, lantus, basaglar, and tresiba. The tresiba segment held 51.3% market share in 2022, amassing US$ 441.86 million. It is projected to garner US$ 766.91 million by 2028 to expand at 10.6% CAGR during 2022–2028.
- Based on rapid acting insulins the MEA insulin market is sub-segmented into novolog, humalog, admelog, and others. The humalog segment held 48.4% market share in 2022, amassing US$ 216.01 million. It is projected to garner US$ 364.83 million by 2028 to expand at 9.8% CAGR during 2022–2028.
- Based on short acting insulin and traditional human insulin, the MEA insulin market is sub-segmented into Novolin R, Humalin R, Insuman, others. The insuman segment held 47.1% market share in 2022, amassing US$ 200.45 million. It is projected to garner US$ 319.54 million by 2028 to expand at 4.3% CAGR during 2022–2028.
- Based on concentrated insulin and combination insulin, the MEA insulin market is sub-segmented into novomix, ryzodeg, xultophy, and soliqua/suliqua. The xultophy segment held 49.1% market share in 2022, amassing US$ 90.52 million. It is projected to garner US$ 163.10 million by 2028 to expand at 10.3% CAGR during 2022–2028.
- Based on biosimilar insulin, the MEA insulin market is sub-segmented into insulin glargine biosimilars and human insulin biosimilars. The insulin glargine biosimilars segment held 54.8% market share in 2022, amassing US$ 229.70 million. It is projected to garner US$ 451.96 million by 2028 to expand at 11.9% CAGR during 2022–2028.
- Based on country, the MEA insulin market is segmented into Saudi Arabia, South Africa, UAE, and Rest of MEA. Our regional analysis states that Saudi Arabia captured 34.0% market share in 2022. It was assessed at US$ 1,105.38 million in 2022 and is likely to hit US$ 1,850.78 million by 2028, exhibiting a CAGR of 9.0% during the forecast period.
Key players dominating the MEA insulin market are Biocon; Eli Lilly and Company; GlaxoSmithKline plc.; Merck & Co., Inc.; Novo Nordisk A/S; Pfizer Inc.; Sanofi; Tonghua Dongbao Pharmaceutical Co., Ltd.; and Wockhardt among others.
- In 2021, Viatris launched a non-interchangeable Semglee in 2020 at a WAC price of $99, marking a steep discount off Lantus' WAC of $284.
- In 2020, Pfizer showcased Phase I data from a study assessing PF-06882961, an oral small molecule glucagon-like peptide - 1 receptor (GLP-1 R) agonist in type 2 diabetes patients that showed significant promise in the reduction of glucose levels and body weight.
Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: sam@businessmarketinsights.com