Non-Injectable Insulin Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Pills, Sprays, and Others), By Distribution Channel (Hospital Pharmacies, and Online Pharmacies, Drug Stores), By Region, By Competition 2018-2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNon-Injectable Insulin Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Pills, Sprays, and Others), By Distribution Channel (Hospital Pharmacies, and Online Pharmacies, Drug Stores), By Region, By Competition 2018-2028
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 2.69 Billion |
| CAGR (2023-2028) | 9.10% |
| Fastest Growing Segment | Drug Stores |
| Largest Market | North America |
Market Overview
Global Non-Injectable Insulin Market has valued at USD 2.69 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 9.10% through 2028. The non-injectable insulin market comprises various insulin formulations designed for administration without injections. These alternatives offer options for individuals with diabetes who face challenges with conventional injection techniques or have allergies to injections. Non-injectable options include oral, inhalable, patches, and other emerging delivery methods.
Key Market Drivers
Improved Glycemic Control
Improved glycemic control can have a significant influence on the growth of the global non-injectable insulin market. Non-injectable insulin refers to insulin delivery methods that do not involve traditional needle injections, such as inhalable insulin, oral insulin, and transdermal insulin delivery systems.
Growing Diabetic Population
The growing diabetic population has a substantial influence on the growth of the global non-injectable insulin market. Diabetes is a chronic condition characterized by high blood sugar levels, and its prevalence has been increasing globally. This rise in the number of people with diabetes directly impacts the demand for effective and convenient treatment options, such as non-injectable insulin.
Pharmaceutical Industry Investment
Pharmaceutical industry investments play a significant role in influencing the growth of the global non-injectable insulin market. These investments encompass research and development (R&D), clinical trials, manufacturing, marketing, and distribution efforts related to non-injectable insulin products.
Key Market Challenges
Efficacy and Safety Concerns
Efficacy and safety concerns can indeed hinder the growth of the global non-injectable insulin market. While non-injectable insulin methods offer convenient and patient-friendly alternatives to traditional injections, addressing these concerns is essential to gain the trust of healthcare professionals, regulators, and patients.
Cost and Affordability
Cost and affordability are significant factors that can hinder the growth of the global non-injectable insulin market. While non-injectable insulin methods offer advantages in terms of convenience and patient-friendliness, they can sometimes come with higher costs compared to traditional injectable insulin.
Key Market Trends
Personalized Treatment Approaches
Personalized approaches enable healthcare providers to choose the most suitable non-injectable insulin method based on a patient's medical history, lifestyle, and preferences. This tailored approach increases the likelihood of treatment adherence and successful outcomes, driving the adoption of non-injectable methods.
Regulatory and Reimbursement Advancements
Regulatory agencies play a crucial role in ensuring the safety and efficacy of medical products, including non-injectable insulin. Advancements in regulatory pathways that specifically address innovative delivery methods can expedite the approval process. A faster regulatory pathway encourages manufacturers to invest in non-injectable insulin research and development, leading to quicker market entry.
Segmental Insights
Type
Based on the Product, the pills segment is anticipated to witness substantial market growth throughout the forecast period. This growth can be attributed to multiple factors, such as Many individuals with diabetes have an aversion to needles or injections. Oral insulin pills offer a more comfortable and familiar form of medication delivery, reducing the psychological barrier to insulin therapy. This increased patient acceptance can lead to higher adoption rates and market growth.
End Use Insights
Based on the end-use segment, the Drug retailers segment has been the dominant force in the market. Drug retailers are often conveniently located in urban and suburban areas, making them easily accessible to patients. This accessibility ensures that non-injectable insulin products are readily found at to a broad patient population.
Regional Insights
North America, specifically the Non-Injectable Insulin Market, dominated the market in 2022, primarily due to North America, particularly the United States and Canada, boasts advanced healthcare systems, research institutions, and pharmaceutical industries. This infrastructure supports the development, clinical testing, and commercialization of innovative medical products like non-injectable insulin.
Recent Developments
- November 2022The U.S. Food and DrugAdministration approved Tzield (teplizumab-mzwv) injection to delay the onsetof stage 3 type-1 diabetics and pediatric patients 8 years of age and older whowere stage 2 type-1 diabetics.
- May 2022The FDA approved Lilly’s new medication Mounjaro (also knownas tirzepatide) for type-2 diabetes management in addition to diet andexercise. This first-in-class medication showed improvement in glucose levelsand also dramatically improved weight in clinical trials.
Key Market Players
- Midatech Pharma Plc
- Shreya Life Sciences Pvt. Ltd.
- Boston Therapeutics, Inc.
- Coromed, Inc.
- Diabetology Ltd.
- Emisphere Technologies, Inc.
- Oramed Pharmaceuticals, Inc.
- Diasome Pharmaceuticals, Inc.
- Generex Biotechnology Corp.
- Biodel, Inc.
| By Product | By Distribution Channel | By Region |
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