Global insulin market to reach $47.54 billion by 2020: report

The global insulin market is expected to reach a value of $47.54 billion by 2020, according to a new study by Grand View Research.

Growing global prevalence of type 1 and type 2 diabetes and the presence of high unmet needs in emerging markets such as India and China are expected to be two of the most significant growth drivers of this market. Moreover, increasing incidence rates of lifestyle induced diseases such as obesity and growing global geriatric population base are expected to serve the global insulin market as drivers.

The global intermediate and long acting insulin segments were two of the largest markets in 2013 and together accounted for over 45% of the overall revenue. Higher efficacy exhibited by these segments in terms of insulin peak time is one of the major factors accounting for their large market shares.