Latin America Insulin Market To Reach $966.2 Million By 2030

Latin America Insulin Market Growth & Trends

The Latin America insulin market size is estimated to reach USD 966.2 million by 2030, expanding at a CAGR of 3.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing prevalence of diabetes (type I and type II) coupled with government initiatives to develop insulin in markets such as Brazil by providing medical and financial aid to the population in the form of subsidies and the entrance of multinational companies such as Novo Nordisk, Sanofi Aventis, etc is expected to drive regional insulin market. Affordability of medicines is perceived to be a key challenge for market development, as a significant part of the population may not be able to afford the product.

In 2013, Type II applications lead the regional market, with revenue of USD 1,183.7 million and are expected to grow at a CAGR of 15.8 % from 2014 to 2020. Type I applications are expected to have faster growth, at an estimated CAGR of 20.3 % from 2014 to 2020.

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Latin America Insulin Market Report Highlights

• Long acting insulin segment accounted for the largest revenue share in 2023. This is attributable to its ability to maintain normal blood sugar levels for longer periods and slow and steady insulin release. Insulin, detemir, Insulin degludec, and insulin glargine are some examples of long-acting insulin.

• In 2023, Analog was a dominant insulin source and is expected to grow at a CAGR of 3.3% from 2024 to 2030.

• R&D initiatives, changing lifestyle affecting health of people specially children and growing rate of old aged (above 40) population are also expected to have a positive influence on market demand.

• Sanofi, one of the key players in the pharmaceutical and healthcare industry, focuses on scientific advancements, continuous R & D and partnerships to deliver innovative healthcare solutions. The company offers various insulin products, such as insulin glargine (Lantus, Toujeo, Soliqua, and others), Admelog lispro, Apidra glulisine and others.

• Some of the key manufacturers in Latin American insulin market include Sanofi Aventis, Novo Nordisk, Biocon, Wockhardt, Eli Lilly and Company.

Latin America Insulin Market Segmentation

Grand View Research has segmented the Latin America insulin market based on type, product, application, distribution channel, and region:

Latin America Insulin Type Outlook (Revenue, USD Million, 2018 - 2030)

• Insulin Analog

• Human Insulin

Latin America Insulin Product Outlook (Revenue, USD Million, 2018 - 2030)

• Rapid-Acting Insulin

• Long-Acting Insulin

• Combination Insulin

• Biosimilar

• Others

Latin America Insulin Application Outlook (Revenue, USD Million, 2018 - 2030)

• Type I Diabetes

• Type II Diabetes

Latin America Insulin Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals Pharmacies

• Retail & Specialty Pharmacies

• Others

Latin America Insulin Country Outlook (Revenue, USD Million, 2018 - 2030)

• Brazil

• Argentina

• Chile

• Colombia

• Peru

• Venezuela

• Rest of Latin America

List of Key Players in Latin America Insulin Market

• Novo Nordisk A/S

• Eli Lilly and Company

• Sanofi

• Biocon.

• Wockhardt

• Boehringer Ingelheim International GmbH.

• Julphar

• United Laboratories International Holdings Limited.

• Tonghua Dongbao Pharmaceutical Co., Ltd.

• Xinbai Pharmaceutical