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India Insulin Market Assessment, By Product [Rapid-Acting Insulin, Long-Acting Insulin, Combination Insulin, Biosimilar, Others], By Type [Human Insulin, Insulin Analog], By Application [Type 1 Diabetes Mellitus, Type 2 Diabetes Mellitus], By Distribution Channel [Hospital Pharmacies, Retail Pharmacies, Online Pharmacies], By Region, Opportunities and Forecast, FY2019-FY2033F
Market Report I 2025-06-16 I 129 Pages I Market Xcel - Markets and Data
India insulin market is projected to witness a CAGR of 7.20% during the forecast period FY2026-FY2033, growing from USD 648.68 million in FY2025 to USD 1131.33 million in FY2033. The market's growth is propelled by the rising prevalence of diabetes, increasing awareness among the general population, and the introduction of government schemes and policies to promote affordable treatments. The World Health Organization (WHO) estimates that approximately 77 million people over the age of 18 are living with diabetes and about 25 million people are prediabetic in India.
The growing burden of both type 1 and type 2 diabetes in India due to rapid adoption of sedentary lifestyles, changing dietary habits, and urbanization is also significantly driving the demand for various insulin products, including analog and biosimilar formulations across the country. The increasing rate of diagnosis in India, particularly among younger and middle-aged adults, is leading to earlier insulin initiation. Thus, insulin therapy is no longer limited to advanced-stage diabetes but is becoming a central component of comprehensive glycemic management. Pharmaceutical companies are responding by developing fixed-ratio combinations, such as basal insulin with GLP-1 analogs, to provide holistic solutions. With the burden of diabetes projected to grow significantly over the coming years, the market is expected to witness rapid growth and expansion.
New product Launches Boost Market's Growth
Both domestic and international companies are investing in research and development activities and regulatory approvals to meet the rising demand for diabetes management solutions in India. For instance, in October 2024, Wockhardt Limited submitted its fast-acting insulin analog, ASPARAPID, for regulatory approval to India's Drugs Controller General (DCGI). This indigenously developed insulin aspart injection will be available in prefilled disposable pens, cartridges, and vials, offering flexibility for diabetes management. Innovations and new product developments are expected to improve patient adherence, while fostering competition among the key players of the market, encouraging them to invest in research activities, further supporting the market's expansion.
Growing preference for Insulin Pens Drives Market Expansion
The demand for insulin pens is significantly increasing in India due to their ease of use, accurate dosing, and enhanced patient compliance, particularly among urban populations. Unlike traditional vials and syringes, pens reduce stigma and simplify administration, making them ideal for young adults and elderly patients alike. Domestic and international manufacturers are increasingly launching affordable reusable pens, which can be paired with biosimilar insulin cartridges to further lower treatment costs. Additionally, increasing awareness through diabetes camps and digital platforms is allowing patients to transition to these user-friendly drug delivery systems. For instance, in September 2022, Terumo India launched FineGlide, sterile pen needle for patients that require regular insulin injections. The product's availability both as a standalone item in pharmacies and bundled with major pharmaceutical brands expands its reach. As more patients and caregivers seek easy to use self-injection solutions, innovations such as FineGlide are expected to boost adherence to insulin therapy, thus fueling the growth and expansion of the market and improving diabetes care outcomes across the country.
Hospital Pharmacies Holds Major Market Share
Hospital pharmacies in India maintain higher insulin availability rates as compared to retail pharmacies due to their role in managing inpatient care and complex cases. They also hold different types of insulin, including analogue and human insulin, allowing them to support the diverse requirements of the patient population. Furthermore, hospital pharmacies are also benefits from government initiatives to improve diabetes management and an established healthcare infrastructure. The presence of knowledgeable professionals to guide the patient population and reliability and accessibility of these pharmacies is further supporting the segment's expansion. Additionally, leading hospital pharmacies across the country are also receiving recognition from different government organizations. For instance, in June 2024, Pharmacies of Shri Mahant Indresh Hospital received recognition from the Pharmacy Council of India (PCI) to impart training. Such approvals are expected to bolster the availability of training opportunities for pharmacy students across the country, allowing them to better serve the patients and support the segment's expansion.
Impact of the U.S. Tariff on India Insulin Market
- Various pharmaceutical products have been exempted from the tariffs, allowing leading Indian manufacturers to continue exporting to the United States without the additional financial burden posed by tariffs.
- However, introduction of tariffs on pharmaceutical products in the near future cannot be ruled out, forcing Indian manufacturers to invest in complex generics and biosimilars and focus on expanding in the emerging markets to reduce their reliance on the United States for revenue generation.
- Indian manufacturers are expected to focus on self-reliance in key active pharmaceutical ingredients and self-reliance, allowing them to withstand the evolving trade policies and maintain their growth momentum.
Key Players Landscape and Outlook
The key players of the market are focusing on expanding their presence in the country. For instance, in March 2025, Eli Lilly and Company (India) Private Limited announced its plans to expand its insulin production business in India. The company's focus on advancing biomanufacturing and clinical trials aligns with India's Atmanirbhar Bharat initiative, aiming to boost domestic pharmaceutical production and reduce reliance on imports. Additionally, the launch of new therapies like Mounjaro (tirzepatide) addresses both diabetes and obesity, meeting the country's rising demand for advanced treatments. Eli Lilly's collaborations with Indian companies are expected to enhance distribution networks and local manufacturing, ensuring more widespread access to essential diabetes medications. Such efforts are expected to support the market's growth by fostering innovation and making insulin therapies more accessible and affordable for the patient population.
1. Project Scope and Definitions
2. Research Methodology
3. Impact of the U.S. Tariffs
4. Executive Summary
5. India Insulin Market Outlook, FY2019-FY2033F
5.1. Market Size Analysis & Forecast
5.1.1. By Value
5.2. Market Share Analysis & Forecast
5.2.1. By Product
5.2.1.1. Rapid-Acting Insulin
5.2.1.2. Long-Acting Insulin
5.2.1.3. Combination Insulin
5.2.1.4. Biosimilar
5.2.1.5. Others
5.2.2. By Type
5.2.2.1. Human Insulin
5.2.2.2. Insulin Analog
5.2.3. By Application
5.2.3.1. Type 1 Diabetes Mellitus
5.2.3.2. Type 2 Diabetes Mellitus
5.2.4. By Distribution Channel
5.2.4.1. Hospital Pharmacies
5.2.4.2. Retail Pharmacies
5.2.4.3. Online Pharmacies
5.2.5. By Region
5.2.5.1. North
5.2.5.2. East
5.2.5.3. West and Central
5.2.5.4. South
5.2.6. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2025)
5.3. Market Map Analysis, FY2025
5.3.1. By Product
5.3.2. By Type
5.3.3. By Application
5.3.4. By Distribution Channel
5.3.5. By Region
6. Demand Supply Analysis
7. Value Chain Analysis
8. Porter's Five Forces Analysis
9. PESTLE Analysis
10. Pricing Analysis
11. Market Dynamics
11.1. Market Drivers
11.2. Market Challenges
12. Market Trends and Developments
13. Regulatory Framework and Innovation
13.1. Clinical Trials
13.2. Regulatory Approvals
14. Patent Landscape
15. Case Studies
16. Competitive Landscape
16.1. Competition Matrix of Top 5 Market Leaders
16.2. SWOT Analysis for Top 5 Players
16.3. Key Players Landscape for Top 10 Market Players
16.3.1. Novo Nordisk India Private Limited
16.3.1.1. Company Details
16.3.1.2. Key Management Personnel
16.3.1.3. Products and Services
16.3.1.4. Financials (As Reported)
16.3.1.5. Key Market Focus and Geographical Presence
16.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
16.3.2. Biocon Limited
16.3.3. Eli Lilly and Company (India) Private Limited
16.3.4. Sanofi S.A.
16.3.5. F. Hoffmann-La Roche AG
16.3.6. Wockhardt Limited
16.3.7. Becton, Dickinson and Company (BD)
16.3.8. Takeda Pharmaceutical Company Limited
16.3.9. Pfizer Inc.
16.3.10. Boehringer Ingelheim India Private Limited
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.
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