Medicaments Containing Insulin Market

The article discusses the global market for medicaments containing insulin but not antibiotics, predicting an upward consumption trend over the next eight years. The United States dominates both consumption and production volumes, with steady growth observed. Import and export trends fluctuate, with prices varying by country. Overall, the market is expected to expand, driven by increasing demand for insulin-containing medications worldwide.

Market Forecast

Driven by increasing demand for medicaments containing insulin but not antibiotics worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 3.9K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.8% for the period from 2022 to 2030, which is projected to bring the market value to $603M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Medicaments Containing Insulin But Not Antibiotics

In 2022, consumption of medicaments containing insulin but not antibiotics increased by 1.4% to 3.4K tons, rising for the third year in a row after three years of decline. The total consumption volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at 3.4K tons in 2016; afterwards, it flattened through to 2022.

The global medicaments containing insulin market value skyrocketed to $358M in 2022, increasing by 35% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a deep contraction. Global consumption peaked at $2.6B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The United States (2.4K tons) constituted the country with the largest volume of medicaments containing insulin consumption, accounting for 71% of total volume. Moreover, medicaments containing insulin consumption in the United States exceeded the figures recorded by the second-largest consumer, India (197 tons), more than tenfold. Switzerland (106 tons) ranked third in terms of total consumption with a 3.1% share.

In the United States, medicaments containing insulin consumption increased at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+10.2% per year) and Switzerland (+1.0% per year).

In value terms, the United States ($280M) led the market, alone. The second position in the ranking was held by Switzerland ($17M). It was followed by India.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to -3.3%. The remaining consuming countries recorded the following average annual rates of market growth: Switzerland (+1.0% per year) and India (+9.3% per year).

The countries with the highest levels of medicaments containing insulin per capita consumption in 2022 were Switzerland (12 kg per 1000 persons), the United States (7.2 kg per 1000 persons) and the United Arab Emirates (5 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +11.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Medicaments Containing Insulin But Not Antibiotics

In 2022, production of medicaments containing insulin but not antibiotics decreased by -3.6% to 3.5K tons, falling for the third year in a row after four years of growth. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 8.3%. Over the period under review, global production hit record highs at 3.7K tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, medicaments containing insulin production stood at $356M in 2022 estimated in export price. Overall, production recorded a abrupt shrinkage. Over the period under review, global production hit record highs at $2.7B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

The United States (2.6K tons) remains the largest medicaments containing insulin producing country worldwide, accounting for 74% of total volume. Moreover, medicaments containing insulin production in the United States exceeded the figures recorded by the second-largest producer, India (194 tons), more than tenfold. The third position in this ranking was held by Switzerland (105 tons), with a 3% share.

In the United States, medicaments containing insulin production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+1.1% per year) and Switzerland (+0.9% per year).

Imports

World Imports of Medicaments Containing Insulin But Not Antibiotics

Global medicaments containing insulin imports fell markedly to 159 tons in 2022, dropping by -87.7% against the year before. Over the period under review, imports showed a abrupt descent. The pace of growth appeared the most rapid in 2020 when imports increased by 372%. As a result, imports attained the peak of 1.6K tons. From 2021 to 2022, the growth of global imports remained at a lower figure.

In value terms, medicaments containing insulin imports plummeted to $18M in 2022. Overall, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2020 when imports increased by 227% against the previous year. Global imports peaked at $91M in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, Denmark (35 tons) and Austria (32 tons) were the main importers of medicaments containing insulin but not antibioticsacross the globe, together resulting at near 42% of total imports. Kuwait (19 tons) ranks next in terms of the total imports with a 12% share, followed by Nigeria (9.5%). Tunisia (6.4 tons), Brazil (5.3 tons), India (5 tons), Ethiopia (3.8 tons), Senegal (3 tons) and Burundi (2.6 tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Senegal (with a CAGR of +80.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Denmark ($5.1M), India ($3.2M) and Nigeria ($2.6M) were the countries with the highest levels of imports in 2022, together comprising 61% of global imports.

In terms of the main importing countries, India, with a CAGR of +131.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average medicaments containing insulin import price amounted to $112,460 per ton, picking up by 122% against the previous year. Over the period under review, the import price, however, showed a pronounced curtailment. Global import price peaked at $184,383 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($632,359 per ton), while Austria ($5,144 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+31.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Medicaments Containing Insulin But Not Antibiotics

In 2022, shipments abroad of medicaments containing insulin but not antibiotics decreased by -83.3% to 262 tons, falling for the second consecutive year after three years of growth. In general, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of 80%. Over the period under review, the global exports attained the maximum at 2.6K tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, medicaments containing insulin exports contracted dramatically to $19M in 2022. Over the period under review, exports faced a deep downturn. The growth pace was the most rapid in 2018 with an increase of 74%. Over the period under review, the global exports attained the peak figure at $155M in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, the United States (162 tons) represented the major exporter of medicaments containing insulin but not antibiotics, creating 62% of total exports. Thailand (34 tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Jordan (7.4%). Austria (10 tons), Denmark (6.8 tons) and New Zealand (5.8 tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to medicaments containing insulin exports from the United States stood at -10.2%. At the same time, New Zealand (+183.0%), Thailand (+100.1%), Jordan (+30.4%) and Austria (+14.2%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in the world, with a CAGR of +183.0% from 2012-2022. By contrast, Denmark (-21.4%) illustrated a downward trend over the same period. Thailand (+13 p.p.), Jordan (+7.2 p.p.), Austria (+3.6 p.p.), Denmark (+2.6 p.p.) and New Zealand (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while the United States saw its share reduced by -5.1% from 2012 to 2022, respectively.

In value terms, the United States ($9.4M) remains the largest medicaments containing insulin supplier worldwide, comprising 51% of global exports. The second position in the ranking was taken by Austria ($3.7M), with a 20% share of global exports. It was followed by New Zealand, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to -22.2%. In the other countries, the average annual rates were as follows: Austria (+38.8% per year) and New Zealand (+275.7% per year).

Export Prices By Country

The average medicaments containing insulin export price stood at $71,160 per ton in 2022, rising by 47% against the previous year. In general, the export price, however, continues to indicate a deep slump. The global export price peaked at $209,224 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($352,391 per ton), while Jordan ($2,700 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+32.7%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform