North America Insulin Market

The insulin market in North America is expected to grow from US$ 23,946.85 million in 2022 to US$ 43,517.93 million by 2028. It is estimated to grow at a CAGR of 10.5% from 2022 to 2028.

Rapid Technological Developments in Insulin Delivery Devices by Major Players Boosts

As the prevalence of diabetes is increasing across North America, the demand for more advanced therapeutic products is on the rise. Companies in the insulin market actively support public and private research and academic institutes for encouraging research activities. A few of the recent developments related to rapid technological advancements in the insulin market are mentioned below:

•   In October 2021, Tonghua Dongbao Pharmaceutical Co., Ltd. received approval from the National Medical Products Administration (NMPA) for the clinical trial of its ultra-rapid-acting insulin injection, BC Lispro. Currently, the drug is in phase III clinical trial initiated in China.

•   In May 2021, Bigfoot Biomedical received 510(k) clearance from the USFDA for its Bigfoot Unity Diabetes Management System offered with connected smart pen caps that recommend insulin doses for people using the multiple daily injections (MDI) therapy.

Such technological advancements in insulin delivery devices are boosting the growth of the North America insulin market.

Market Overview

The North America insulin market has been segmented into the US, Canada, and Mexico, wherein the US accounts for a maximum share. The market growth in the region is attributed to the rising prevalence of diabetes and obesity, coupled with the increasing awareness about diabetes care. According to the National Diabetes Statistics Report 2020, ~30.3 million people in the US have diabetes, representing 94% of the total population. Among the diabetic population, ~5% are diagnosed with type 1 diabetes while 90–95% have type 2 diabetes. From more than 30 million Americans with diabetes, ~7.4 million rely on insulin to manage their condition. In addition, data also revealed ~86 million adults aged 18 or above and ~23.1 million elders of age 65 were prediabetic. Diabetes is also a leading cause of blindness and end-stage renal diseases or renal failure among adults.

 North America Insulin Market Revenue and Forecast to 2028 (US$ Million)

North America Insulin Strategic Insights

Strategic insights for the North America Insulin provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Insulin Report Scope

North America Insulin Regional Insights

The geographic scope of the North America Insulin refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Insulin Market Segmentation

The North America insulin market is segmented into type and country. Based on type, the market is segmented into long acting insulin, rapid acting insulin, short acting insulin and traditional human insulin, concentrated insulin and combination insulin, biosimilar insulin, glucagon-like peptide-1 (GLP-1), pen and needle, and others. The long acting insulin segment accounted for the largest market share in 2022.

The North America insulin market for the long acting insulin segment is subsegmented into Levemir, lantus, basaglar, and tresiba. The tresiba segment held the largest market share in 2022.

The North America insulin market for the short acting insulin and traditional human insulin segment is subsegmented into Novolin R, Humalin R, Insuman, and others. The insuman segment held the largest market share in 2022.

The North America insulin market for the concentrated insulin and combination insulin segment is further segmented into novomix, ryzodeg, xultophy, and soliqua/suliqua. The xultophy segment held the largest market share in 2022. 

The North America insulin market for the biosimilar insulin segment is further segmented into insulin glargine biosimilars and human insulin biosimilars. The insulin glargine biosimilars segment accounted for a larger market share in 2022. 

• Based on country, the insulin market is segmented into the US, Canada, and Mexico. The US dominated the market in 2022.

Biocon; Eli Lilly and Company; GlaxoSmithKline plc.; Merck & Co., Inc.; Novo Nordisk A/S; Pfizer Inc.; Sanofi; Tonghua Dongbao Pharmaceutical Co., Ltd.; and Wockhardt are the leading companies operating in the insulin market in the region.