Hyderabad, Aug. 09, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Mexico Insulin Drugs and Delivery Devices Market Report (2023-2028)," the market is estimated at USD 542.08 million in 2023. It is expected to register a CAGR of 0.90% during the forecast period.
Insulin is mainly used for treating type 1 diabetes, but it can also be used for type 2 diabetes if other medications aren't sufficient to raise insulin levels. Insulin can be injected using syringes, pens, pumps, and jet injectors. In Mexico, type 2 diabetes is a significant health concern. Factors like obesity, inactivity, genetics, and age are causing the increasing prevalence of diabetes, which is expected to create more demand for insulin drugs and their delivery devices.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 542.08 million |
| Market Size (2028) | USD 566.91 million |
| CAGR (2023-2028) | 0.90% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD million) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing prevalence of diabetes. |
| Obesity, inactivity, genetics, and age factor. |
Who are the Top Companies in the Mexico Insulin Drugs and Delivery Devices Market?
The market is moderately consolidated, with few significant and generic players. Mergers and acquisitions between the players recently have helped the companies strengthen their market presence.
The significant players in the Mexican insulin drugs and delivery devices market are,
- Novo Nordisk
- Sanofi
- Eli Lilly
- Biocon
- Julphar
- Medtronic
- Ypsomed
- Becton Dickinson
Other Reports That Might Be of Your Interest:
- Spain Insulin Drugs And Delivery Devices Market Report - The Spanish insulin drugs and delivery devices market size is estimated at USD 0.35 billion in 2023. It is expected to reach USD 0.38 million by 2028, at a CAGR of 1.80%.
- North America Insulin Syringe Market Report - The North American insulin syringe market size is estimated at USD 250.77 million in 2023. It is expected to reach USD 272.83 million by 2028, at a CAGR of 1.70% during the forecast period (2023-2028).
Key Highlights from the Mexico Insulin Drugs and Delivery Devices Market Report:
Rising Prevalence of Diabetes
- It is estimated that around 16.9% of adults in Mexico have diabetes, which is about one in six adults. Roughly 14 million Mexican adults are living with diabetes, and 11 million have impaired glucose tolerance, increasing their risk of type 2 diabetes.
- The diabetes population in Mexico is predicted to increase by about 3.4% over the next five years. Nearly 47.5% of people with diabetes in Mexico remain undiagnosed.
- Mexico's diabetes-related health spending has reached USD 20 billion, ranking it among the top ten in total health expenditure.
- Insulin delivery technology has evolved from injections to pumps, improving convenience in blood glucose management. Manufacturers are focusing on innovation to secure a larger market share.
Growing Demand for Insulin Pumps
- An insulin pump is a device that delivers insulin automatically or as needed, functioning like the human pancreas and replacing daily injections or insulin pens.
- The insulin pump market in Mexico is projected to witness a CAGR of 9.9% over the next five years. Technological advancements and the benefits of continuous insulin delivery are driving the market.
- Insulin pumps result in steadier blood glucose levels, less pain, and more accurate delivery compared to injections. Continuous subcutaneous insulin infusion and glucose monitoring enhance patient care and quality of life. These factors are expected to drive market growth in the coming years.
What are the Latest Developments in the Mexico Insulin Drugs and Delivery Devices Market?
- In October 2022: Becton, Dickinson and Company and Biocorp signed an agreement to use connected technology to track adherence to self-administered drug therapies, like biologics.
- In March 2022, Oramed announced that ORMD-0801 (a new molecule) is under Phase 3 trials. If successful, it could be the first oral insulin capsule with the most convenient and safest way to deliver insulin therapy.
Mordor Intelligence has Segmented the Mexico Insulin Drugs and Delivery Devices Market Based on Drug and Device.
- By Drug (Market Size and Forecast based on Value (USD million), 2018-2028)
- Basal or Long-acting Insulins
- Lantus (Insulin Glargine)
- Levemir (Insulin Detemir)
- Toujeo (Insulin Glargine)
- Tresiba (Insulin Degludec)
- Basaglar (Insulin Glargine)
- Bolus or Fast-acting Insulins
- NovoRapid/Novolog (Insulin aspart)
- Humalog (Insulin lispro)
- Apidra (Insulin glulisine)
- FIASP (Insulin aspart)
- Admelog (Insulin lispro Sanofi)
- Traditional Human Insulins
- Novolin/Mixtard/Actrapid/Insulatard
- Humulin
- Insuman
- Combination Insulins
- NovoMix (Biphasic Insulin aspart)
- Ryzodeg (Insulin degludec and Insulin aspart)
- Xultophy (Insulin degludec and Liraglutide)
- Soliqua/Suliqua (Insulin glargine and Lixisenatide)
- Biosimilar Insulins
- Insulin Glargine Biosimilars
- Human Insulin Biosimilars
- Basal or Long-acting Insulins
- By Device (Market Size and Forecast based on Value (USD million), 2018-2028)
- Insulin Pumps
- Insulin Pump Devices
- Insulin Pump Reservoirs
- Insulin Infusion sets
- Insulin Pens
- Cartridges in reusable pens
- Disposable insulin pens
- Insulin Syringes
- Insulin Jet Injectors
- Insulin Pumps
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Mexico Insulin Drugs and Delivery Devices Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- New Zealand Insulin Drugs and Devices Market Report - The New Zealand insulin drugs and devices market size is expected to grow from USD 517.49 million in 2023 to USD 546.59 million by 2028, at a CAGR of 1.10% during the forecast period (2023-2028).
- Australia Insulin Delivery Devices Market Report - The Australian insulin delivery devices market size is expected to grow from USD 688.98 million in 2023 to USD 775.73 million by 2028, at a CAGR of 2.40% during the forecast period (2023-2028).
- Asia-Pacific Insulin Pens Market Report - The Asia-Pacific insulin pens market size is expected to grow from USD 17.07 billion in 2023 to USD 19.50 billion by 2028, at a CAGR of 2.70% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Attachment
