Iran Insulin Drugs and Delivery Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 344.51 Million |
| Market Size (2029) | USD 383.71 Million |
| CAGR (2024 - 2029) | 2.18 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Iran Insulin Drugs and Delivery Devices Market Analysis
The Iran Insulin Drugs And Delivery Devices Market size is estimated at USD 344.51 million in 2024, and is expected to reach USD 383.71 million by 2029, growing at a CAGR of 2.18% during the forecast period (2024-2029).
The Iranian insulin drugs and delivery devices market is evolving rapidly due to increasing diabetes prevalence, innovative research, and supportive government policies.
Diabetes, a major public health concern in Iran, has prompted significant changes in the insulin drugs and delivery devices market. The acceleration in the prevalence of diabetes has led to an increased demand for effective insulin therapies and advanced delivery systems.
As per the study published in Health Science Reports in February 2023, diabetes imposes a substantial economic burden on Iran’s healthcare system and economy. The study highlights that patients with diabetes and related complications incur higher costs, underscoring the need for more efficient and cost-effective treatment options. This economic impact has spurred both government and private sector efforts to address the diabetes crisis through improved treatment modalities and support mechanisms.
Market growth is primarily driven by an increasing diabetic patient population, heightened awareness of diabetes management, and government efforts to enhance access to affordable healthcare. However, the market faces constraints due to the high prices of insulin, especially given the significant portion of the population with limited purchasing power.
Iran Insulin Drugs and Delivery Devices Market Trends
Rising Diabetes Prevalence in Iran
Diabetes has emerged as a critical public health challenge in Iran, driven by a combination of lifestyle changes, demographic shifts, and environmental factors. This persistent metabolic disorder, characterized by elevated blood glucose levels, leads to severe complications affecting various organs and systems. As diabetes prevalence rises, its implications for the insulin drugs and delivery devices market are becoming increasingly significant.
Diabetes is a chronic condition that demands ongoing management to prevent complications such as kidney damage, heart disease, and neuropathy. The rising prevalence of diabetes in Iran is a direct result of unhealthy and sedentary lifestyles, an aging population, urbanization, and other factors. According to the International Diabetes Federation (IDF) Diabetes Atlas, the diabetic population in Iran is projected to increase from 7.17 million in 2030 to 9.55 million by 2045. This sharp rise is indicative of the escalating burden of the disease on the Iranian healthcare system.
The economic implications of the rising prevalence of diabetes are profound. According to IDF projections, diabetes-related health expenditures in Iran are set to increase from USD 9,066.8 million in 2030 to USD 10,024.4 million by 2045. The increased expenditure on diabetes care includes costs associated with insulin drugs and delivery devices. As more patients require insulin therapy, the volume of insulin prescriptions and the demand for related delivery devices, such as insulin pens, syringes, and glucose meters, are expected to grow. Thus, this trend presents opportunities and challenges for pharmaceutical companies and healthcare providers in Iran.
The increasing prevalence of diabetes is directly influencing the demand for insulin drugs and delivery devices. As the number of diabetic patients grows, the need for effective insulin therapies and advanced delivery systems becomes more pronounced. Insulin is a cornerstone of diabetes management, and the demand for traditional and novel insulin formulations is expected to rise correspondingly.
The Insulin Pens Segment is Expected to Witness Highest Growth Rate During the Forecast Period
In recent years, Iran has witnessed a notable shift in the diabetes management landscape, marked by a significant increase in the usage of insulin pens. This shift is attributed to advancements in insulin delivery technology, changes in production capabilities, and evolving patient needs.
Similarly, in December 2023, Iran took a significant step forward in diabetes care with the introduction of a new generation of insulin pens. The launch event, hosted at a pharmaceutical factory in Alborz province, showcased a newly established insulin production line, boasting a capacity to produce between 80,000 and 100,000 insulin pens. This new generation of insulin pens combines short-acting and long-acting insulin to simplify diabetes management for patients. By reducing the need for multiple injections and lowering daily insulin costs, these pens offer a convenient and cost-effective solution compared to traditional vial and syringe methods.
The transition from vial and syringe-based insulin administration to insulin pens has been gradual. According to an article published by IRNA in December 2023, the usage of pen insulin has substantially increased over the years. Such a shift reflects a broader trend toward more user-friendly diabetes management solutions. Insulin pens offer several advantages, including ease of use, accurate dosing, and improved adherence to treatment regimens. As a result, they have become increasingly preferred by both healthcare providers and patients, leading to a marked decline in the use of traditional vial insulins.
The expansion of insulin pen usage in Iran has also prompted production and supply dynamics changes. As reported by Dunyai Ekhtaz in April 2024, the Food and Drug Organization revealed that approximately half of the insulin pens used in the country are produced domestically, while the other half is imported. This dual-source approach helps mitigate supply chain risks and ensures a steady availability of insulin pens for diabetic patients.
The increasing usage of insulin pens in Iran underscores a significant advancement in the management of diabetes, driven by technological innovations and shifts in patient preferences. The recent developments in insulin pen production and supply reflect a broader trend toward more effective and user-friendly diabetes care solutions.
Iran Insulin Drugs and Delivery Devices Industry Overview
The Iranian insulin drugs and delivery devices market is consolidated, with few significant and generic players. The major players are working on innovations in insulin drugs and devices, which is evident from the companies' spending on research and developments to strengthen their market presence. The key players in the market include Novo Nordisk A/S, Sanofi, Eli Lilly and Company, Gan & Lee Pharmaceuticals, and Becton, Dickinson and Company.
Iran Insulin Drugs and Delivery Devices Market Leaders
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Novo Nordisk A/S
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Gan & Lee Pharmaceuticals
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Sanofi
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Eli Lilly and Company
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Becton, Dickinson and Company
*Disclaimer: Major Players sorted in no particular order
Iran Insulin Drugs and Delivery Devices Market News
- September 2024: The Vice President of Food and Drugs at Hamedan University of Medical Sciences announced the introduction of a foreign insulin brand, Raizodag. The insulin, akin to the Nomix brand, was launched. It is covered by health insurance and the Armed Forces Medical Services insurance. The authority anticipates that Social Security insurance will extend its coverage soon.
- September 2023: The Food and Drug Organization inaugurated Iran's first insulin raw material production line. This development underscores the nation's incremental strides toward establishing a comprehensive insulin production chain and achieving self-sufficiency.
Iran Insulin Drugs and Delivery Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Strategic Initiatives by the Government and Organizations
- 4.2.2 Increasing Prevalence of Diabetes in Iran
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4.3 Market Restraints
- 4.3.1 Limited Availability of Affordable Insulin Pumps in the Country
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size By Value - USD)
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5.1 By Product Type
- 5.1.1 By Drug
- 5.1.1.1 Basal or Long-acting Insulins
- 5.1.1.2 Bolus or Fast-acting Insulins
- 5.1.1.3 Traditional Human Insulins
- 5.1.1.4 Other Product Types
- 5.1.2 By Device
- 5.1.2.1 Insulin Pumps
- 5.1.2.2 Insulin Pens
- 5.1.2.3 Insulin Syringes
- 5.1.2.4 Insulin Jet Injectors
6. MARKET INDICATORS
- 6.1 Type-1 Diabetes Population
- 6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 Novo Nordisk A/S
- 7.1.2 Sanofi
- 7.1.3 Eli Lilly and Company
- 7.1.4 Gan & Lee Pharmaceuticals
- 7.1.5 Biocon
- 7.1.6 Medtronic
- 7.1.7 Becton, Dickinson and Company
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityIran Insulin Drugs and Delivery Devices Industry Segmentation
The Iranian insulin drugs and delivery devices market is segmented into products. By products, the market is segmented into drugs and devices. By drugs, the market is segmented into basal or long-acting insulins, bolus or fast-acting insulins, traditional human insulins, and other drugs. By devices, the market is segmented into insulin pens, insulin pumps, insulin syringes, and jet injectors. The report offers the market size and forecasts for the Iranian insulin drugs and delivery devices market in value (USD) for the above segments.
| By Product Type | By Drug | Basal or Long-acting Insulins |
| Bolus or Fast-acting Insulins | ||
| Traditional Human Insulins | ||
| Other Product Types | ||
| By Product Type | By Device | Insulin Pumps |
| Insulin Pens | ||
| Insulin Syringes | ||
| Insulin Jet Injectors |
Iran Insulin Drugs and Delivery Devices Market Research FAQs
How big is the Iran Insulin Drugs And Delivery Devices Market?
The Iran Insulin Drugs And Delivery Devices Market size is expected to reach USD 344.51 million in 2024 and grow at a CAGR of 2.18% to reach USD 383.71 million by 2029.
What is the current Iran Insulin Drugs And Delivery Devices Market size?
In 2024, the Iran Insulin Drugs And Delivery Devices Market size is expected to reach USD 344.51 million.
Who are the key players in Iran Insulin Drugs And Delivery Devices Market?
Novo Nordisk A/S, Gan & Lee Pharmaceuticals, Sanofi, Eli Lilly and Company and Becton, Dickinson and Company are the major companies operating in the Iran Insulin Drugs And Delivery Devices Market.
What years does this Iran Insulin Drugs And Delivery Devices Market cover, and what was the market size in 2023?
In 2023, the Iran Insulin Drugs And Delivery Devices Market size was estimated at USD 337.00 million. The report covers the Iran Insulin Drugs And Delivery Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Iran Insulin Drugs And Delivery Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Iran Insulin Drugs and Delivery Devices Industry Report
Statistics for the 2024 Iran Insulin Drugs And Delivery Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Iran Insulin Drugs And Delivery Devices analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
