Insulin Market Is Estimated To Expand Further At A CAGR Of 1.5% From 2022 To 2030
Insulin Industry Overview The global insulin market size was estimated at USD 20.35 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 1.5% from 2022 to 2030. The insulin market is witnessing growth due to factors such as the increasing incidence of diabetes and formulation advancements. However, the increasing prescription of drugs such as GLP-1 RAs to treat type 2 diabetes can slow down market growth. It is an oligopolistic space dominated by companies like Novo Nordisk A/S, Sanofi, and Eli Lilly and Company. Diabetes is one of the fastest-growing chronic diseases in the world. Its prevalence has increased steadily over the past few decades. The World Health Organization estimates that 537 million adults worldwide affected by diabetes in 2021, and one in ten experienced other diabetes. Gather more insights about the market drivers, restrains and growth of the Insulin Market In addition, geriatric and obese populations are more susceptible...