Middle East & Africa Insulin Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Long Acting Insulin, Rapid Acting Insulins, Short acting Insulins and Traditional Human Insulins, Concentrated Insulins and Combination Insulins, Biosi

Middle East & Africa Insulin Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Long Acting Insulin, Rapid Acting Insulins, Short acting Insulins and Traditional Human Insulins, Concentrated Insulins and Combination Insulins, Biosimilar Insulins, Glucagon-like peptide-1 (GLP-1), Pens and Needles, and Others)   

The insulin market in MEA is expected to grow from US$ 3,255.91 million in 2022 to US$ 5,549.57 million by 2028. It is estimated to grow at a CAGR of 9.2% from 2022 to 2028.
Insufficient Competition from Biosimilars to Provide Opportunities in Market
The dominance of major players in the Middle East & Africa has led to an increase in the insulin market value. Novo Nordisk A/S, Elli Lily and Company, and Sanofi have a cumulative market revenue of over 90%. This is majorly credited to the evergreening of patents currently held by these dominating players. Moreover, patients' lack of trust in biosimilar drugs is a significant factor augmenting the insulin market growth. According to a study conducted by Health Action International (2019), states that Eli Lilly and Company, Novo Nordisk, and Sanofi are the only three manufacturers of insulin, and they generate ~90% of revenue in the market.

Market Overview

The insulin market in the Middle East & Africa is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of MEA. The region is expected to present notable growth opportunities to market players owing to the rise in the prevalence of diabetes, surge in healthcare expenditure, increasing awareness about diabetes, and preventive measures being taken to control the incidences of diabetes. In Saudi Arabia, diabetes affects ~20% of the population. The disease accounts for one-fourth of the total healthcare expenditure in the country. Diabetes mellitus is the prevalent form of diabetes in the country. According to International Diabetes Federation, in 2019, ~7 million people in Saudi Arabia had diabetes. The country ranks eighth in terms of the prevalence of diabetes, including children and adults living with type 1 diabetes mellitus. It is the 4th country in the world in terms of the incidence rate, as ~33.5 per 1 million people are affected by type 1 diabetes mellitus.
MEA Insulin Market Revenue and Forecast to 2028 (US$ Million)

MEA Insulin Market Segmentation

The MEA insulin market is segmented into type and country. Based on type, the market is segmented into long acting insulin, rapid acting insulin, short acting insulin & traditional human insulin, concentrated insulin & combination insulin, biosimilar insulin, glucagon-like peptide-1 (GLP-1), pen & needle, and others. The long acting insulin segment registered the largest market share in 2022.
Based on long acting insulin, the MEA insulin market is sub-segmented into Levemir, lantus, basaglar, and tresiba. The tresiba segment registered the largest market share in 2022.
Based on short acting insulin and traditional human insulin, the MEA insulin market is sub-segmented into Novolin R, Humalin R, Insuman, others. The insuman segment held the largest market share in 2022.
Based on concentrated insulin and combination insulin, the MEA insulin market is sub-segmented into novomix, ryzodeg, xultophy, and soliqua/suliqua. The xultophy segment held the largest market share in 2022.
Based on biosimilar insulin, the MEA insulin market is sub-segmented into insulin glargine biosimilars and human insulin biosimilars. The insulin glargine biosimilars segment held the largest market share in 2022.
Based on country, the market is segmented into Saudi Arabia, South Africa, UAE, and Rest of MEA. Saudi Arabia dominated the market share in 2022.
Biocon; Eli Lilly and Company; GlaxoSmithKline plc.; Merck & Co., Inc.; Novo Nordisk A/S; Pfizer Inc.; Sanofi; Tonghua Dongbao Pharmaceutical Co., Ltd.; and Wockhardt are the leading companies operating in the insulin market in the region.

Reasons to buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the MEA insulin market.
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Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the insulin market, as well as those hindering it
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