BASAL INSULIN MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Basal insulin is a type of long-acting insulin that provides a steady release of insulin throughout the day and night to control blood sugar levels in individuals with diabetes. It is typically prescribed for individuals with type 1 diabetes or type 2 diabetes who require insulin therapy. Basal insulin helps maintain stable blood sugar levels between meals and during periods of fasting, providing a foundation for optimal diabetes management.

The global basal insulin market is experiencing significant growth, driven by the increasing prevalence of diabetes worldwide. According to the International Diabetes Federation, the number of adults with diabetes is expected to reach 700 million by 2045. This rise in diabetes cases is fueling the demand for basal insulin, as it is an essential component of diabetes management.

Market Dynamics:

The basal insulin market is driven by several factors. The rising prevalence of diabetes, particularly type 2 diabetes, is a key driver for the market. Unhealthy lifestyle habits, such as sedentary behavior, poor diet, and obesity, are contributing to the increasing incidence of diabetes globally. As a result, the demand for basal insulin is expected to rise significantly.

In addition, advancements in insulin therapy technologies are also driving the market growth. The development of insulin analogs, which have improved pharmacokinetic properties, has significantly enhanced the efficacy and convenience of basal insulin therapy. These advancements have led to better glycemic control and reduced risks of hypoglycemia.

For instance, on October 23, 2023, Adocia, a biopharmaceutical company in the clinical stage, announced that Tonghua Dongbao Pharmaceutical Co. Ltd., a pharmaceutical company based in China, is its partner and has released positive results from three clinical studies conducted on the BioChaperone Combo THDB0207 formulation, which contains insulin lispro and insulin glargine. These three studies showed that BC Combo is a useful insulin that combines the qualities of both long-acting and rapid-acting insulin. As a result, it can guarantee glycemic control during the postprandial and fasting periods.

However, there are certain restraints that may hinder the growth of the basal insulin market. The high cost of insulin therapy and limited access to healthcare in certain regions are some of the barriers. Additionally, the stringent regulatory requirements for insulin production and distribution pose challenges for market players.

Despite these challenges, there are several opportunities for growth in the basal insulin market. The increasing geriatric population, as well as the growing awareness about the importance of diabetes management, are expected to drive the market growth. Furthermore, the development of smart insulin delivery systems and the integration of digital technologies in diabetes management present new avenues for market players to explore.

Key Features of the Study:

• This report provides an in-depth analysis of the global basal insulin market including market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), with 2022 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• Key players in the global basal insulin market are profiled based on company highlights, product portfolio, key highlights, financial performance, and strategies
• Key companies covered in this study include Novo Nordisk, Sanofi, Eli Lilly and Company, Biocon, Gan & Lee Pharmaceuticals, Tonghua Dongbao Pharmaceutical, United Laboratories, Merck, Wockhardt, Julphar Diabetes, Medtronic, Beta Bionics, Zealand Pharma, MannKind, Peptron, Dexcom, Senseonics, Medtrum Technologies, SOOIL Development, and Semma Therapeutics
• Insights from this report would allow marketers and management authorities to make informed decisions regarding future product launches, type upgrades, market expansion, and marketing tactics
• The global basal insulin market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global basal insulin market

Basal Insulin Market Segmentation:

• By Type
• • Glargine
  • Detemir
  • Degludec
• By Delivery Device
• • Syringes
  • Pens
  • Pumps
  • Others (Inhalers, Patches)
• By Indication
• • Type 1 Diabetes
  • Type 2 Diabetes
  • Gestational Diabetes
• By Age Group
• • Pediatric
  • Adults
• By Distribution Channel 
• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• By Region
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Top Companies in the Basal Insulin Market:
• • Novo Nordisk
  • Sanofi
  • Eli Lilly and Company
  • Biocon
  • Gan & Lee Pharmaceuticals
  • Tonghua Dongbao Pharmaceutical
  • United Laboratories
  • Merck
  • Wockhardt
  • Julphar Diabetes
  • Medtronic
  • Beta Bionics
  • Zealand Pharma
  • MannKind
  • Peptron
  • Dexcom
  • Senseonics
  • Medtrum Technologies
  • SOOIL Development
  • Semma Therapeutics