Latin America Insulin Market Size & Outlook, 2023-2030
Latin America insulin market, 2018-2030 (US$M)
Related Markets
Latin America insulin market highlights
- The Latin America insulin market generated a revenue of USD 794.9 million in 2023.
- The market is expected to grow at a CAGR of 3.9% from 2024 to 2030.
- In terms of segment, insulin analog was the largest revenue generating type in 2023.
- Insulin Analog is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 794.9 million |
| Market revenue in 2030 | USD 1,039.7 million |
| Growth rate | 3.9% (CAGR from 2023 to 2030) |
| Largest segment | Insulin analog |
| Fastest growing segment | Insulin Analog |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Insulin Analog, Human Insulin |
| Key market players worldwide | Novo Nordisk A/S ADR, Eli Lilly and Co, Sanofi SA, United Laboratories International Holdings Ltd, Biocon, Wockhardt, Boehringer Ingelheim Pharma, Tonghua Dongbao Pharmaceutical, Julphar |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.0% of the global insulin market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 7,094.5 million by 2030.
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Insulin Market Scope
Insulin Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America insulin market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to insulin market will help companies and investors design strategic landscapes.
Insulin analog was the largest segment with a revenue share of 86.45% in 2023. Horizon Databook has segmented the Latin America insulin market based on insulin analog, human insulin covering the revenue growth of each sub-segment from 2018 to 2030.
A large section of the society in South America is aging rapidly, which has led to an increase in healthcare expenditure and is driving market growth in the region. The increasing focus of multinational pharmaceutical companies on this region is expected to drive market growth over the forecast period.
For instance, in June 2019, Geropharm and Espromed Bio signed an agreement to localize their production & supply of insulin in Venezuela. Under this agreement, Russian company Geropharm established production of insulin from active ingredients supplied from Russia. The volume of production was nearly 8 million bottles per year.
Brazil is expected to witness significant growth due to an increase in prevalence of diabetes. As per the IDF Diabetes Atlas, around 15.7 million people were living with diabetes in Brazil in 2021. This number is expected to reach around 19.2 million by 2030.
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Target buyers of Latin America insulin market databook
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Our clientele includes a mix of insulin market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America insulin market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America insulin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America insulin market size, by country, 2018-2030 (US$M)
Latin America Insulin Market Outlook Share, 2023 & 2030 (US$M)
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