Market Size of Europe Insulin Drugs Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.95 Billion |
| Market Size (2029) | USD 7.55 Billion |
| CAGR (2024 - 2029) | 4.89 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Insulin Drugs Market Analysis
The Europe Insulin Drugs Market size is estimated at USD 5.95 billion in 2024, and is expected to reach USD 7.55 billion by 2029, growing at a CAGR of 4.89% during the forecast period (2024-2029).
Diabetes is a condition that is more commonly found among older individuals. In Europe countries, there are approximately 25 million people between the ages of 60 and 79 who have diabetes. While middle-aged men (between 40 and 59 years old) tend to have a higher prevalence of diabetes compared to women, the number of women with diabetes increases significantly after the age of 70. This can be attributed to the fact that women generally have a longer life expectancy.
In 2023, the average prevalence of diabetes among adults in EU countries was 7.5%, taking into account diagnosed cases and age-standardization. However, the rates varied across different countries. Cyprus, Portugal, and Germany had rates of 9% or higher, while Ireland and Lithuania had rates of less than 4%.
It is worth noting that the prevalence of diabetes seems to have reached a stable point in many European countries in recent years, particularly in Nordic countries. However, there has been a slight increase in diabetes rates in Southern European countries as well as Central and Eastern European countries. These upward trends can be attributed, at least in part, to the rise in obesity and physical inactivity, and how these factors interact with the aging population.
The European countries are suffering from the burden of high diabetes expenditure due to its rising prevalence. Approximately 10% of the total diabetes population is having type-1 diabetes and approximately out of this 10% of people only 80-90% use Insulin but the usage of insulin is rising from time to time, even type-2 diabetes patients are using the insulin drugs during COVID-19. Technological advancements have increased over the period in Insulin drugs.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
