Global insulin market expected to reach $32.35 million in 2018, with China accounting for 10.2%

The worldwide insulin market was worth nearly $12.48 billion in 2011 and is expected to reach USD almost $32.35 billion in 2018, growing at a compound annual growth rate (CAGR) of 12% from 2011 to 2018, according to a new market report published by Transparency Market Research.

Titled Insulin Market - Global and China Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2011–2018, the report notes that, in the global market, China is expected to increase its share in the global insulin market to 10.2% by 2018.

The global insulin market is driven by rise in diabetic population worldwide. The world diabetes population was estimated at 366 million in the year 2011, and is expected to reach 552 million in 2030. It is estimated that diabetes accounts for 4.6 million deaths, with cases of people dying due to lack of insulin and not even being diagnosed.