by Basal insulin helps maintain a steady level of insulin in the body throughout the day and night and is an important part of diabetes treatment. It is suited for patients with type 1 diabetes or those with type 2 diabetes who require insulin to manage their condition. Insulin glargine and insulin detemir are two of the most commonly prescribed long-acting basal insulins. Glargine and detemir offer flexible dosing options and a lower risk of hypoglycemia compared to traditional basal insulins like NPH. They are increasingly used alongside other types of diabetes medications and modern diabetes technologies like insulin pumps and continuous glucose monitoring systems to help individuals better manage their blood sugar levels.
The global Basal Insulin Market is estimated to be valued at US$ 18.78 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The growing prevalence of diabetes across the world is a key driver for the basal insulin market. According to the International Diabetes Federation (IDF), approximately 537 million adults were living with diabetes in 2021, and this figure is projected to reach 643 million by 2030 and 783 million by 2045 globally. Basal insulin plays an important role in diabetes management when oral therapies alone are insufficient. In addition, the increasing adoption of advanced diabetes management tools like insulin pumps and continuous glucose monitoring systems has further boosted patient uptake of basal insulin for more effective blood sugar control over 24 hours. However, the high costs of newer insulin analogs and delivery devices pose a challenge to market growth, especially in price-sensitive developing regions. Strategic collaborations between manufacturers and regulatory bodies aim to address this challenge by improving access through value-based pricing models.
Segment Analysis
The global basal insulin market can be segmented based on the type into long-acting insulin and intermediate-acting insulin. The long-acting insulin segment dominates the market and accounts for over 90% market share. This is because long-acting insulin is prescribed by most physicians as it provides consistent basal insulin levels throughout the day. It is more convenient for patients to administer once daily long-acting insulin compared to intermediate-acting insulin which needs to be administered twice daily.
Pest Analysis
Political: The basal insulin market is positively impacted by government initiatives and regulations that aim to spread awareness about diabetes management and make treatment affordable. However, stringent regulations for new drug approval can delay market entry of new players.
Economic: Rising healthcare expenditure, growing per capita income, and increasing prevalence of diabetes due to changing lifestyles are fueling market growth. However, high costs of branded basal insulin can restrain the market in price-sensitive regions.
Social: Increased social awareness about diabetes self-management and government programs to lower treatment costs are supporting early disease detection and management. However, social stigma around insulin therapy can impact treatment adherence in some communities.
Technological: Advancements in basal insulin formulations such as long-acting analogs that provide closer mimicry of basal insulin levels have enhanced treatment efficacy and convenience. Smart insulin pens and pumps that can automatically monitor and adjust insulin doses are gaining popularity.
Key Takeaways
The global Basal Insulin Market Size is expected to witness high growth over the forecast period due to the growing incidence of diabetes globally especially in developing countries undergoing nutrition transition. By 2031, the market size is projected to cross US$ 35 Bn.
Regional analysis – North America currently dominates the basal insulin market owing to high healthcare expenditures and early access to advanced products. However, Asia Pacific is anticipated to emerge as the fastest growing regional market led by countries like China and India reporting major increases in diabetes prevalence.
Key players – The key players operating in the basal insulin market are Novo Nordisk, Eli Lilly, Sanofi, and Boehringer Ingelheim. Novo Nordisk leads the market with its top-selling insulin glargine drug products like Lantus and Basaglar. Sanofi holds the second largest market share with its insulin glargine product Toujeo.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
