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South Korea Human Insulin Market

South Korea Human Insulin Market By Device (Pens, Syringes, Others); By Indication (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes); By Insulin (Rapid-acting Insulin, Short-acting Insulin, Intermediate-acting Insulin, Others); By Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, Online Providers) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
South Korea Human Insulin Market Size 2023	USD 888.93 million
South Korea Human Insulin Market , CAGR	5.06%
South Korea Human Insulin Market Size 2032	USD 1,386.85 million

Market Overview

South Korea Human Insulin market size was valued at USD 888.93 million in 2023 and is anticipated to reach USD 1,386.85 million by 2032, at a CAGR of 5.06% during the forecast period (2023-2032).

The South Korea human insulin market is primarily driven by the increasing prevalence of diabetes, a growing aging population, and rising healthcare awareness. As the incidence of diabetes continues to rise, there is a heightened demand for effective insulin therapies, contributing to market growth. Furthermore, advancements in insulin formulations, such as rapid-acting and long-acting insulin, are enhancing treatment options, attracting more patients. The government’s support for healthcare initiatives and improved access to insulin therapies are also key factors fueling market expansion. Additionally, the increasing focus on improving the quality of life for diabetic patients and the growing number of healthcare providers specializing in diabetes management are key trends shaping the market. The ongoing research in insulin biosimilars and affordable insulin alternatives further drives competition, creating opportunities for innovation and cost-effective solutions in the market.

The South Korea human insulin market is primarily driven by the high concentration of healthcare infrastructure in key regions such as Seoul, Gyeonggi Province, and Busan. These areas benefit from advanced healthcare facilities, a high patient population, and greater access to modern insulin delivery devices. The market is characterized by the presence of several key players, including Novo Nordisk A/S, Eli Lilly and Company, and Biocon, who lead in product innovation and market penetration. Novo Nordisk, in particular, is a dominant player, offering a wide range of insulin products and delivery devices. Other significant contributors to the market include MannKind Corporation, Pfizer, and Wockhardt, which provide additional therapeutic options and biosimilars to cater to diverse patient needs. The competitive landscape is also shaped by the increasing adoption of biosimilars, which help improve accessibility and reduce the financial burden on patients.

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Market Insights

The South Korea human insulin market was valued at USD 888.93 million in 2023 and is expected to reach USD 1,386.85 million by 2032, growing at a CAGR of 5.06% during the forecast period.

The global human insulin market was valued at USD 21,000 million in 2023 and is projected to reach USD 31,208 million by 2032, growing at a CAGR of 4.50% from 2023 to 2032.

Rising diabetes prevalence and an aging population are key drivers of market growth.
Innovations in insulin delivery systems, such as smart insulin pens and insulin pumps, are reshaping diabetes management.
Biosimilars are emerging as a cost-effective alternative to branded insulin products, driving market competition.
Market competition is fierce, with major players like Novo Nordisk, Eli Lilly, and Biocon leading in insulin therapies and product development.
Insulin accessibility issues and high treatment costs pose significant market restraints.
The Seoul Metropolitan and Gyeonggi regions dominate the market, followed by Busan and Ulsan, with Daegu showing steady growth.

Report Scope

This report segments the South Korea Human Insulin Market as follows:

Market Drivers

Rising Diabetes Prevalence

The increasing prevalence of diabetes is one of the primary drivers of the South Korea human insulin market. As the country witnesses a steady rise in the number of individuals diagnosed with diabetes, the demand for insulin products is also escalating. For instance, the International Diabetes Federation (IDF) reports that the number of adults (20–79 years) with diabetes in South Korea has increased from 2.0 million in 2000 to 5.0 million in 2024. Factors such as sedentary lifestyles, poor dietary habits, and high rates of obesity are contributing to the growing incidence of Type 2 diabetes. Furthermore, South Korea’s aging population is also playing a significant role in the diabetes surge, as older adults are more prone to developing the condition. According to estimates, the prevalence of diabetes in South Korea is expected to continue increasing, which will drive the need for insulin therapies over the coming years. As a result, this demographic trend is significantly shaping the market, creating a larger patient base that requires effective diabetes management solutions.

Advances in Insulin Formulations

The development of new insulin formulations is another key driver propelling the growth of the human insulin market in South Korea. Innovations such as rapid-acting and long-acting insulins are helping improve the management of diabetes by offering better control over blood sugar levels and reducing the number of injections required for patients. For instance, a Diabetes Metabolism Journal study outlines the evolution of insulin therapies in South Korea, emphasizing the introduction of ultra-long-acting insulins and hepatopreferential insulins designed to mimic physiological insulin secretion. The introduction of ultra-long-acting insulins, which can last up to 24 hours or more, provides convenience for diabetic patients, further boosting the demand for these advanced insulin therapies. Moreover, the focus on biosimilars insulin formulations that are highly similar to the reference product but are often more affordable has also contributed to market growth. As pharmaceutical companies continue to invest in research and development, the availability of novel insulin treatments will support the market’s expansion.

Government Support and Healthcare Access

The South Korean government plays a pivotal role in shaping the human insulin market through various healthcare initiatives and policies aimed at improving access to insulin therapies. National health insurance schemes, such as the National Health Insurance Service (NHIS), ensure that a large portion of the population has access to affordable insulin, which is a critical factor in driving market growth. The government also allocates resources toward diabetes prevention and management programs, further promoting awareness and encouraging early diagnosis. Additionally, public health campaigns aimed at educating the population about the importance of diabetes management and the role of insulin in controlling blood sugar levels are helping to foster a better understanding of the condition. With a focus on improving overall healthcare access, these initiatives provide support for the market’s continued growth.

Increased Focus on Diabetes Management and Patient Care

As South Korea continues to prioritize the well-being of its aging population, there has been a marked increase in the focus on diabetes management and patient care. More healthcare providers, such as endocrinologists and diabetes specialists, are dedicated to treating diabetes and ensuring patients receive optimal insulin therapy. This emphasis on specialized care and patient-centered treatment has led to a higher demand for insulin, as healthcare providers tailor treatment plans to the individual needs of diabetic patients. Additionally, technological advancements, such as insulin pumps and continuous glucose monitoring systems, are enhancing the way insulin is administered, improving patient outcomes and convenience. The overall rise in patient care awareness and specialized healthcare services is creating a more robust market for human insulin products, driving consistent growth in the sector.

Market Trends

Surge in Insulin Pen Adoption

The adoption of insulin pens is rapidly increasing in South Korea, driven by their convenience and ease of use compared to traditional vial and syringe methods. Insulin pens, particularly the reusable versions, are gaining traction due to their cost-effectiveness, precise dosing, and portability. With South Korea’s growing diabetic population, especially among the elderly and those with Type 2 diabetes, insulin pens are becoming the preferred method for insulin administration. These devices are not only more user-friendly but also less intimidating for patients who are new to insulin therapy. In addition, the integration of digital technologies into insulin pens, such as Bluetooth-enabled connectivity to mobile applications, is enhancing their appeal. Patients can now track their insulin doses, monitor blood glucose levels, and share real-time data with healthcare providers, improving both patient engagement and clinical outcomes. The overall trend towards insulin pens is expected to continue growing as both patients and healthcare professionals seek more efficient and effective diabetes management tools.

Advancements in Insulin Delivery Devices

Technological advancements in insulin delivery systems are revolutionizing diabetes care in South Korea. Insulin pumps and smart insulin pens, along with continuous glucose monitoring (CGM) systems, are transforming how diabetes is managed. For instance, the South Korea diabetes devices market has seen significant growth, with increased awareness about early diagnosis and management, government initiatives for healthcare improvement, and advancements in glucose monitoring technologies. These devices offer more precise and tailored treatment options, improving blood glucose control and patient compliance with insulin therapy. Insulin pumps, for example, provide continuous subcutaneous insulin infusion (CSII), which mimics the natural function of the pancreas by delivering insulin throughout the day. This system reduces the need for multiple daily injections and offers better control over blood glucose levels. Meanwhile, smart insulin pens provide real-time data tracking, allowing patients to monitor their insulin doses, carb intake, and blood glucose levels via smartphone apps. As insulin delivery devices become more integrated with digital health technologies, the level of personalization and convenience for patients continues to improve, driving market growth. These advancements are particularly beneficial for people with Type 1 diabetes, who require more frequent insulin adjustments.

Emergence of Biosimilar Insulin Products

The emergence of biosimilar insulin products is a transformative trend in the South Korean human insulin market. As the patents for several major branded insulin products expire, biosimilars biologically similar but more affordable alternatives are gaining acceptance. For instance, the Ministry of Food and Drug Safety (MFDS) approved 13 biosimilars within the classes of HER2-inhibitor, insulin, tumor necrosis factor inhibitor, and monoclonal antibody for use in the country. These products are expected to increase the accessibility of insulin therapies, particularly for patients who struggle with the high cost of branded insulin. The South Korean government has supported the development and approval of biosimilars, and insurance coverage for these alternatives has been expanded, making them more accessible to a larger segment of the population. The biosimilar market is further fueled by increasing competition among manufacturers, leading to more affordable options for patients. As South Korea’s healthcare system becomes more cost-conscious, the shift toward biosimilars is expected to accelerate, providing patients with access to effective treatments without the financial burden of branded insulins. This trend not only drives market growth but also supports South Korea’s efforts to provide high-quality, affordable healthcare solutions for its population.

Integration of Digital Health Technologies

The integration of digital health technologies into diabetes management is a rapidly growing trend in South Korea. The country’s advanced healthcare infrastructure and high adoption rate of digital devices make it an ideal market for the incorporation of mobile health solutions into diabetes care. Digital platforms that connect insulin delivery devices to smartphones or tablets allow patients to track their blood glucose levels, insulin usage, and other health metrics in real time. These systems provide greater insights into how patients are managing their diabetes, enabling healthcare providers to make more informed decisions. Furthermore, digital health solutions such as apps that offer educational content, reminders for insulin injections, and progress tracking are enhancing patient engagement and adherence to treatment. The rise of telemedicine, especially post-pandemic, has also led to more frequent virtual consultations between patients and healthcare providers, further promoting the integration of digital tools in diabetes management. This trend toward digitalization is expected to drive improvements in patient outcomes and make diabetes management more efficient.

Market Challenges Analysis

High Cost of Insulin and Treatment Accessibility

One of the significant challenges facing the South Korea human insulin market is the high cost of insulin and diabetes treatment. While the country has a well-established healthcare system, the cost of branded insulin products remains a burden for many patients, particularly those who are uninsured or underinsured. For instance, South Korea has implemented various reimbursement strategies to improve access to high-cost medicines, including insulin. Although biosimilars are making insulin more affordable, the pricing of these alternatives is still an issue for certain segments of the population. Patients who rely on insulin to manage Type 1 or advanced Type 2 diabetes often face financial barriers in accessing the necessary treatment, which can result in suboptimal diabetes management. Furthermore, while the government has made strides to provide coverage for insulin therapies, the reimbursement policies and the range of covered products can vary, leading to inequities in access. These cost-related issues are compounded by the fact that diabetes management often requires ongoing healthcare visits, glucose monitoring, and other related medications, increasing the overall financial burden on patients.

Regulatory and Market Competition Challenges

Another challenge in the South Korean insulin market is the stringent regulatory landscape and increasing competition among insulin manufacturers. The South Korean government has a rigorous approval process for insulin products, especially for new formulations and biosimilars. While this ensures the safety and efficacy of available products, it can also delay the introduction of newer, potentially more effective treatments. Additionally, as more biosimilars enter the market, competition among manufacturers has intensified. Although biosimilars help reduce prices and increase access, the market’s competitiveness can also pose a challenge to insulin producers in terms of profitability and market share. Pharmaceutical companies must navigate complex regulatory hurdles and market dynamics to secure approval and maintain a competitive edge. This competitive environment, along with price pressure from insurance providers and regulatory bodies, presents challenges for manufacturers aiming to maintain profitability while ensuring broad access to high-quality insulin therapies.

Market Opportunities

The South Korea human insulin market presents several significant opportunities, particularly with the growing demand for cost-effective treatment options. As the incidence of diabetes continues to rise, there is a heightened need for affordable insulin therapies, creating opportunities for the development and expansion of biosimilar insulin products. The introduction of biosimilars not only addresses the cost barriers faced by many patients but also provides a competitive advantage to manufacturers offering more accessible alternatives to branded insulins. With government support for the production and reimbursement of biosimilars, there is a clear opportunity for companies to tap into this segment of the market, especially as insurance coverage expands for these more affordable options. Furthermore, the increasing awareness of diabetes management and the importance of early diagnosis presents opportunities for pharmaceutical companies to introduce innovative insulin formulations and devices that improve treatment outcomes.

Technological advancements in insulin delivery systems also present substantial market opportunities. The integration of smart devices, such as insulin pens with Bluetooth connectivity, insulin pumps, and continuous glucose monitoring (CGM) systems, is enhancing the way diabetes is managed in South Korea. These devices provide patients with more precise insulin dosage tracking, real-time blood glucose monitoring, and the ability to share data with healthcare providers. As more patients embrace digital health technologies, companies that develop or incorporate these innovations into their insulin products stand to benefit. Additionally, partnerships between pharmaceutical companies and tech firms to create integrated solutions offer the potential for expanding the reach of advanced insulin delivery systems. With the growing focus on personalized healthcare and patient-centric solutions, there are numerous opportunities for innovation in this sector, ensuring better management of diabetes and improved patient outcomes across South Korea.

Market Segmentation Analysis:

By Device:

The South Korea human insulin market is segmented by device type, primarily consisting of insulin pens, syringes, and other delivery devices. Insulin pens are the dominant segment, accounting for the largest share due to their convenience, ease of use, and precise dosing. These devices are favored by both healthcare professionals and patients, particularly among individuals with Type 2 diabetes, as they offer better control over insulin administration compared to traditional syringes. The growing adoption of smart insulin pens, which offer Bluetooth connectivity and data tracking capabilities, is further fueling this segment’s expansion. Syringes, while still in use, are becoming less popular as patients shift to more efficient alternatives like insulin pens. The “Other” category includes insulin pumps, which are gaining popularity, especially among individuals with Type 1 diabetes. These pumps provide continuous insulin delivery, offering a more personalized and effective treatment option. As the demand for advanced insulin delivery systems grows, the segment for insulin pens and pumps is expected to expand significantly in the coming years.

By Indication:

The South Korean human insulin market is also segmented based on indication, which includes Type 1 diabetes, Type 2 diabetes, and gestational diabetes. Type 2 diabetes dominates the market due to its higher prevalence in South Korea, driven by lifestyle factors such as unhealthy diets and sedentary behavior. Insulin therapy for Type 2 diabetes is typically initiated when oral medications fail to adequately control blood sugar levels. Type 1 diabetes, although less common, accounts for a significant portion of the market, as insulin is the primary form of treatment for these patients. With the increasing prevalence of both Type 1 and Type 2 diabetes, demand for insulin products continues to rise. Gestational diabetes, though a smaller segment, is also gaining attention as more women are diagnosed during pregnancy. Insulin therapy for gestational diabetes ensures better outcomes for both the mother and child. The market for all three indications is expected to grow, with a particular emphasis on insulin products that cater to personalized treatment regimens.

Segments:

Based on Device:

Pens
Syringes
Others

Based on Indication:

Type 1 Diabetes
Type 2 Diabetes
Gestational Diabetes

Based on Insulin:

Rapid-acting insulin
Short-acting insulin
Intermediate-acting insulin
Others

Based on Distribution Channel:

Hospital Pharmacies
Drug Stores and Retail Pharmacies
Online Providers

Based on the Geography:

Seoul Metropolitan Region
Gyeonggi Province
Busan and Ulsan Regions
Daegu Region

Regional Analysis

Seoul Metropolitan Region

The Seoul Metropolitan Region dominates the market, holding the largest share of approximately 45%. As the capital and the most populous area of South Korea, Seoul is home to advanced healthcare facilities, including numerous hospitals and specialized clinics focused on diabetes care. The region’s high density of healthcare professionals, along with its role as a hub for healthcare innovation, drives demand for both insulin products and advanced delivery devices like insulin pens and pumps. The growing adoption of digital health solutions and specialized diabetes management further contributes to the expansion of the market in this region.

Gyeonggi Province

Gyeonggi Province, which surrounds Seoul, accounts for approximately 30% of the South Korean human insulin market share. Gyeonggi Province benefits from its proximity to the capital, providing easy access to specialized care and diabetes management centers. As the second-most populous province in South Korea, Gyeonggi sees a significant number of diabetes patients, particularly as its population ages. The demand for insulin products in this region is fueled by a combination of increasing diabetes awareness and a strong emphasis on healthcare accessibility. The expansion of public and private healthcare facilities in Gyeonggi also supports the growth of the insulin market, with both Type 1 and Type 2 diabetes patients requiring ongoing insulin therapy.

Busan and Ulsan regions

The Busan and Ulsan regions hold a combined market share of around 15%. As major industrial and economic centers in the southeastern part of the country, these regions are seeing a steady increase in diabetes diagnoses. With an aging population and a rising number of lifestyle-related health conditions, insulin demand in these areas is growing. Although the healthcare infrastructure in Busan and Ulsan is strong, the market share is comparatively smaller than in the Seoul Metropolitan and Gyeonggi regions due to relatively lower population density and fewer specialized diabetes centers. However, the market is expected to expand as awareness and access to modern insulin delivery systems improve.

Daegu region

The Daegu region, which accounts for about 10% of the market share, has a smaller but steadily growing demand for human insulin products. Daegu is known for its strong healthcare infrastructure, with several prominent hospitals and diabetes care facilities. However, the region’s market share remains limited compared to larger metropolitan areas due to its smaller population and lower overall healthcare spending. Despite these challenges, Daegu’s demand for insulin is rising, particularly as the region focuses more on chronic disease management and preventative healthcare. As public awareness of diabetes management continues to improve, the region is expected to contribute increasingly to the overall growth of the South Korean human insulin market.

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Key Player Analysis

Novo Nordisk A/S
MannKind Corporation
Pfizer
Wockhardt
Biocon
Lupin
Tonghua Dongbao Pharmaceutical Co
Eli Lilly and Company
Becton Dickinson

Competitive Analysis

The competitive landscape of the South Korea human insulin market is dominated by several leading players who drive innovation and shape market trends. Novo Nordisk A/S, Eli Lilly and Company, Biocon, MannKind Corporation, Pfizer, Wockhardt, Lupin, and Tonghua Dongbao Pharmaceutical Co are among the key players competing for market share. Companies differentiate themselves based on product offerings such as rapid-acting, long-acting, and biosimilar insulin options, along with advanced delivery devices like insulin pens and pumps. Insulin biosimilars, in particular, have become a key focus, driven by the increasing demand for cost-effective treatment options. As the competition intensifies, players are leveraging technological advancements to develop smarter insulin delivery systems, including Bluetooth-enabled pens and insulin pumps with integrated continuous glucose monitoring. These innovations provide patients with better control over their diabetes management, which is a strong competitive advantage. Pricing strategies also play a pivotal role, with companies offering differentiated pricing based on patient needs and insurance coverage to capture a larger share of the market. Furthermore, players are focusing on strategic collaborations and partnerships with healthcare providers to ensure wider access to insulin therapies. The regulatory environment and approval timelines influence the speed at which companies can bring new products to market, adding another layer of complexity to the competitive dynamics. As a result, companies are continuously adapting their strategies to meet evolving market demands while maintaining a competitive edge.

Recent Developments

In April 2025, Novo Nordisk announced the discontinuation of Human Mixtard, India’s largest-selling human insulin brand, as part of a global strategy to prioritize newer, patented diabetes and weight loss therapies such as Ozempic and Wegovy. While vial forms of Mixtard, Actrapid, and Insulatard will remain available, pen devices (Penfills and FlexPens) are being phased out, which is expected to disrupt patient access and preference in India.
In April 2025, Pfizer discontinued the development of danuglipron, its once-daily oral GLP-1 receptor agonist for obesity and type 2 diabetes, following a case of drug-induced liver injury and after reviewing clinical and regulatory feedback. This decision halts further clinical development for both obesity and diabetes indications.
In March 2025, Biocon Biologics entered a strategic collaboration with Civica, Inc. to expand access to Insulin Aspart in the United States. Biocon will supply the drug substance, which Civica will formulate and commercialize after completing development and clinical trials.
In December 2024, Lupin acquired the Huminsulin® portfolio in India from Eli Lilly and Company. The range includes Insulin Human (Huminsulin R, NPH, 50/50, and 30/70) and is indicated for type 1 and type 2 diabetes. Lupin had previously marketed these products under a distribution agreement, and the acquisition is aimed at strengthening its diabetes portfolio.
In November 2024, MannKind’s Afrezza® (insulin human) Inhalation Powder received approval from India’s CDSCO. MannKind expects to ship product to its partner Cipla by the end of 2025.
In October 2024, Wockhardt filed for approval of its fast-acting insulin analog, Aspart injection (ASPARAPID™), with the Drugs Controller General of India (DCGI). The product, developed indigenously, will be offered in cartridges, vials, and prefilled disposable pens. This expands Wockhardt’s diabetes biosimilars portfolio and addresses a market with limited competition.

Market Concentration & Characteristics

The South Korea human insulin market is moderately concentrated, with a few dominant global players controlling a significant share of the market. These leading companies maintain their market position through product innovation, particularly in insulin formulations and delivery devices, such as smart insulin pens and pumps. The market is characterized by the increasing adoption of biosimilar insulins, which are gaining popularity due to their affordability compared to branded products. This shift towards biosimilars has also fostered competition, as companies strive to offer cost-effective alternatives to meet the demand for more accessible diabetes treatments. Additionally, the market is influenced by advanced healthcare infrastructure and a growing awareness of diabetes management among both patients and healthcare providers. While major players lead the market, the presence of regional and emerging players, particularly in the biosimilar segment, is contributing to a more diverse competitive environment. The market’s dynamics continue to evolve with a focus on personalized and digital healthcare solutions.

Report Coverage

The research report offers an in-depth analysis based on Device, Indication, Insulin, Distribution Channel and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The demand for insulin products in South Korea is expected to grow steadily due to the increasing prevalence of diabetes, especially among the aging population.
The shift toward biosimilar insulins will continue, making diabetes treatment more affordable and improving access for a broader patient base.
Technological advancements in insulin delivery systems, such as smart pens and insulin pumps, will further enhance diabetes management and patient compliance.
There will be a rise in personalized insulin therapies tailored to individual patient needs, driven by advancements in digital health and continuous glucose monitoring.
The government is likely to continue supporting affordable insulin options through favorable reimbursement policies, boosting market growth.
Regional expansion of insulin biosimilars is expected, with more companies entering South Korea to meet the growing demand for affordable insulin therapies.
Partnerships between pharmaceutical companies and healthcare providers will expand, ensuring better patient access to insulin and diabetes management solutions.
Increased awareness and education about diabetes care will lead to more early diagnoses and timely insulin treatment, contributing to market growth.
The insulin market will see a growing focus on integrating digital tools and mobile health apps to assist patients in monitoring and managing their insulin use.
With the ongoing aging population and rising lifestyle-related diabetes, there will be continued pressure on the healthcare system to provide effective, cost-efficient insulin therapies.

CHAPTER NO. 1 : INTRODUCTION 19

1.1.1. Report Description 19

Purpose of the Report 19

USP & Key Offerings 19

1.1.2. Key Benefits for Stakeholders 19

1.1.3. Target Audience 20

1.1.4. Report Scope 20

CHAPTER NO. 2 : EXECUTIVE SUMMARY 21

2.1. Human Insulin Market Snapshot 21

2.1.1. South Korea Human Insulin Market, 2018 – 2032 (USD Million) 22

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 23

3.1. Russia-Ukraine and Israel-Palestine War Impacts 23

CHAPTER NO. 4 : HUMAN INSULIN MARKET – INDUSTRY ANALYSIS 24

4.1. Introduction 24

4.2. Market Drivers 25

4.2.1. Driving Factor 1 Analysis 25

4.2.2. Driving Factor 2 Analysis 26

4.3. Market Restraints 27

4.3.1. Restraining Factor Analysis 27

4.4. Market Opportunities 28

4.4.1. Market Opportunity Analysis 28

4.5. Porter’s Five Forces Analysis 29

4.6. Value Chain Analysis 30

4.7. Buying Criteria 31

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 32

5.1. Import Analysis by South Korea 32

5.1.1. South Korea Human Insulin Market Import Volume/Revenue, By South Korea, 2018 – 2023 32

5.2. Export Analysis by South Korea 33

5.2.1. South Korea Human Insulin Market Export Volume/Revenue, By South Korea, 2018 – 2023 33

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 34

6.1. Demand Analysis by South Korea 34

6.1.1. South Korea Human Insulin Market Demand Volume/Revenue, By South Korea, 2018 – 2023 34

6.2. Supply Analysis by South Korea 35

6.2.1. South Korea Human Insulin Market Supply Volume/Revenue, By South Korea, 2018 – 2023 35

CHAPTER NO. 7 : PRODUCTION ANALYSIS 36

7.1. Production Analysis by South Korea 36

7.1.1. South Korea Human Insulin Market Production Volume/Revenue, By South Korea, 2018 – 2023 36

CHAPTER NO. 8 : PRICE ANALYSIS 37

8.1. Price Analysis by Type 37

8.1.1. South Korea Human Insulin Market Price, By Type, 2018 – 2023 37

8.1.2. South Korea Type Market Price, By Type, 2018 – 2023 37

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 38

9.1. Key Raw Materials and Suppliers 38

9.2. Key Raw Materials Price Trend 38

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 39

10.1. Manufacturing Cost Analysis 39

10.2. Manufacturing Process 39

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 40

11.1. Company Market Share Analysis – 2023 40

11.1.1. South Korea Human Insulin Market: Company Market Share, by Volume, 2023 40

11.1.2. South Korea Human Insulin Market: Company Market Share, by Revenue, 2023 41

11.1.3. South Korea Human Insulin Market: Top 6 Company Market Share, by Revenue, 2023 41

11.1.4. South Korea Human Insulin Market: Top 3 Company Market Share, by Revenue, 2023 42

11.2. South Korea Human Insulin Market Company Volume Market Share, 2023 43

11.3. South Korea Human Insulin Market Company Revenue Market Share, 2023 44

11.4. Company Assessment Metrics, 2023 45

11.4.1. Stars 45

11.4.2. Emerging Leaders 45

11.4.3. Pervasive Players 45

11.4.4. Participants 45

11.5. Start-ups /SMEs Assessment Metrics, 2023 45

11.5.1. Progressive Companies 45

11.5.2. Responsive Companies 45

11.5.3. Dynamic Companies 45

11.5.4. Starting Blocks 45

11.6. Strategic Developments 46

11.6.1. Acquisitions & Mergers 46

New Product Launch 46

South Korea Expansion 46

11.7. Key Players Product Matrix 47

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 48

12.1. PESTEL 48

12.1.1. Political Factors 48

12.1.2. Economic Factors 48

12.1.3. Social Factors 48

12.1.4. Technological Factors 48

12.1.5. Environmental Factors 48

12.1.6. Legal Factors 48

12.2. Adjacent Market Analysis 48

CHAPTER NO. 13 : HUMAN INSULIN MARKET – BY TYPE SEGMENT ANALYSIS 49

13.1. Human Insulin Market Overview, by Type Segment 49

13.1.1. Human Insulin Market Revenue Share, By Type, 2023 & 2032 50

13.1.2. Human Insulin Market Attractiveness Analysis, By Type 51

13.1.3. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 51

13.1.4. Human Insulin Market Revenue, By Type, 2018, 2023, 2027 & 2032 52

13.2. Pens 53

13.3. Syringes 54

13.4. Others 55

13.5. Type 4 56

13.6. Type 5 57

CHAPTER NO. 14 : HUMAN INSULIN MARKET – BY APPLICATION SEGMENT ANALYSIS 58

14.1. Human Insulin Market Overview, by Application Segment 58

14.1.1. Human Insulin Market Revenue Share, By Application, 2023 & 2032 59

14.1.2. Human Insulin Market Attractiveness Analysis, By Application 60

14.1.3. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 60

14.1.4. Human Insulin Market Revenue, By Application, 2018, 2023, 2027 & 2032 61

14.2. Type 1 Diabetes 62

14.3. Type 2 Diabetes 63

14.4. Gestational Diabetes 64

14.5. Application 4 65

14.6. Application 5 66

CHAPTER NO. 15 : HUMAN INSULIN MARKET – BY END-USER SEGMENT ANALYSIS 67

15.1. Human Insulin Market Overview, by End-user Segment 67

15.1.1. Human Insulin Market Revenue Share, By End-user, 2023 & 2032 68

15.1.2. Human Insulin Market Attractiveness Analysis, By End-user 69

15.1.3. Incremental Revenue Growth Opportunity, by End-user, 2024 – 2032 69

15.1.4. Human Insulin Market Revenue, By End-user, 2018, 2023, 2027 & 2032 70

15.2. Rapid-acting insulin 71

15.3. Short-acting insulin 72

15.4. Intermediate-acting insulin 73

15.5. Others 74

15.6. End-user 5 75

CHAPTER NO. 16 : HUMAN INSULIN MARKET – BY TECHNOLOGY SEGMENT ANALYSIS 76

16.1. Human Insulin Market Overview, by Technology Segment 76

16.1.1. Human Insulin Market Revenue Share, By Technology, 2023 & 2032 77

16.1.2. Human Insulin Market Attractiveness Analysis, By Technology 78

16.1.3. Incremental Revenue Growth Opportunity, by Technology, 2024 – 2032 78

16.1.4. Human Insulin Market Revenue, By Technology, 2018, 2023, 2027 & 2032 79

16.2. Technology 1 80

16.3. Technology 2 81

16.4. Technology 3 82

CHAPTER NO. 17 : – BY DISTRIBUTION CHANNEL SEGMENT ANALYSIS 83

17.1. Human Insulin Market Overview, by Distribution Channel Segment 83

17.1.1. Human Insulin Market Revenue Share, By Distribution Channel, 2023 & 2032 84

17.1.2. Human Insulin Market Attractiveness Analysis, By Distribution Channel 85

17.1.3. Incremental Revenue Growth Opportunity, by Distribution Channel, 2024 – 2032 85

17.1.4. Human Insulin Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032 86

17.2. Hospital Pharmacies 87

17.3. Drug Stores and Retail Pharmacies 88

17.4. Online Providers 89

17.5. Distribution Channel 4 90

17.6. Distribution Channel 5 91

CHAPTER NO. 18 : HUMAN INSULIN MARKET – SOUTH KOREA ANALYSIS 92

18.1. Type 92

18.1.1. South Korea Human Insulin Market Revenue, By Type, 2018 – 2023 (USD Million) 92

18.2. South Korea Human Insulin Market Revenue, By Type, 2024 – 2032 (USD Million) 92

18.3. Application 93

18.3.1. South Korea Human Insulin Market Revenue, By Application, 2018 – 2023 (USD Million) 93

18.3.2. South Korea Human Insulin Market Revenue, By Application, 2024 – 2032 (USD Million) 93

18.4. End-user 94

18.4.1. South Korea Human Insulin Market Revenue, By End-user, 2018 – 2023 (USD Million) 94

18.4.2. South Korea Human Insulin Market Revenue, By End-user, 2024 – 2032 (USD Million) 94

18.5. Technology 95

18.5.1. South Korea Human Insulin Market Revenue, By Technology, 2018 – 2023 (USD Million) 95

18.5.2. South Korea Human Insulin Market Revenue, By Technology, 2024 – 2032 (USD Million) 95

18.6. Distribution Channel 96

18.6.1. South Korea Human Insulin Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million) 96

18.6.2. South Korea Human Insulin Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million) 96

CHAPTER NO. 19 : COMPANY PROFILES 97

19.1. Novo Nordisk A/S 97

19.1.1. Company Overview 97

19.1.2. Product Portfolio 97

19.1.3. Swot Analysis 97

19.1.4. Business Strategy 98

19.1.5. Financial Overview 98

19.1.6. MannKind Corporation 99

19.1.7. Pfizer 99

19.1.8. Wockhardt 99

19.1.9. Biocon 99

19.1.10. Lupin 99

19.1.11. Tonghua Dongbao Pharmaceutical Co 99

19.1.12. Eli Lilly and Company 99

19.1.13. Becton Dickinson 99

19.1.14. Company 10 99

19.1.15. Company 11 99

19.1.16. Company 12 99

19.1.17. Company 13 99

19.1.18. Company 14 99

CHAPTER NO. 20 : RESEARCH METHODOLOGY 100

20.1. Research Methodology 100

20.1.1. Phase I – Secondary Research 101

20.1.2. Phase II – Data Modeling 101

Company Share Analysis Model 102

Revenue Based Modeling 102

20.1.3. Phase III – Primary Research 103

20.1.4. Research Limitations 104

Assumptions 104

List of Figures

FIG NO. 1. South Korea Human Insulin Market Revenue, 2018 – 2032 (USD Million) 22

FIG NO. 2. Porter’s Five Forces Analysis for South Korea Human Insulin Market 29

FIG NO. 3. Value Chain Analysis for South Korea Human Insulin Market 30

FIG NO. 4. South Korea Human Insulin Market Import Volume/Revenue, By South Korea, 2018 – 2023 32

FIG NO. 5. South Korea Human Insulin Market Export Volume/Revenue, By South Korea, 2018 – 2023 33

FIG NO. 6. South Korea Human Insulin Market Demand Volume/Revenue, By South Korea, 2018 – 2023 34

FIG NO. 7. South Korea Human Insulin Market Supply Volume/Revenue, By South Korea, 2018 – 2023 35

FIG NO. 8. South Korea Human Insulin Market Production Volume/Revenue, By South Korea, 2018 – 2023 36

FIG NO. 9. South Korea Human Insulin Market Price, By Type, 2018 – 2023 37

FIG NO. 10. Raw Materials Price Trend Analysis, 2018 – 2023 38

FIG NO. 11. Manufacturing Cost Analysis 39

FIG NO. 12. Manufacturing Process 39

FIG NO. 13. Company Share Analysis, 2023 40

FIG NO. 14. Company Share Analysis, 2023 41

FIG NO. 15. Company Share Analysis, 2023 41

FIG NO. 16. Company Share Analysis, 2023 42

FIG NO. 17. Human Insulin Market – Company Volume Market Share, 2023 43

FIG NO. 18. Human Insulin Market – Company Revenue Market Share, 2023 44

FIG NO. 19. Human Insulin Market Revenue Share, By Type, 2023 & 2032 50

FIG NO. 20. Market Attractiveness Analysis, By Type 51

FIG NO. 21. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 51

FIG NO. 22. Human Insulin Market Revenue, By Type, 2018, 2023, 2027 & 2032 52

FIG NO. 23. South Korea Human Insulin Market for Pens, Revenue (USD Million) 2018 – 2032 53

FIG NO. 24. South Korea Human Insulin Market for Syringes, Revenue (USD Million) 2018 – 2032 54

FIG NO. 25. South Korea Human Insulin Market for Others, Revenue (USD Million) 2018 – 2032 55

FIG NO. 26. South Korea Human Insulin Market for Type 4, Revenue (USD Million) 2018 – 2032 56

FIG NO. 27. South Korea Human Insulin Market for Type 5, Revenue (USD Million) 2018 – 2032 57

FIG NO. 28. Human Insulin Market Revenue Share, By Application, 2023 & 2032 59

FIG NO. 29. Market Attractiveness Analysis, By Application 60

FIG NO. 30. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 60

FIG NO. 31. Human Insulin Market Revenue, By Application, 2018, 2023, 2027 & 2032 61

FIG NO. 32. South Korea Human Insulin Market for Type 1 Diabetes, Revenue (USD Million) 2018 – 2032 62

FIG NO. 33. South Korea Human Insulin Market for Type 2 Diabetes, Revenue (USD Million) 2018 – 2032 63

FIG NO. 34. South Korea Human Insulin Market for Gestational Diabetes, Revenue (USD Million) 2018 – 2032 64

FIG NO. 35. South Korea Human Insulin Market for Application 4, Revenue (USD Million) 2018 – 2032 65

FIG NO. 36. South Korea Human Insulin Market for Application 5, Revenue (USD Million) 2018 – 2032 66

FIG NO. 37. Human Insulin Market Revenue Share, By End-user, 2023 & 2032 68

FIG NO. 38. Market Attractiveness Analysis, By End-user 69

FIG NO. 39. Incremental Revenue Growth Opportunity by End-user, 2024 – 2032 69

FIG NO. 40. Human Insulin Market Revenue, By End-user, 2018, 2023, 2027 & 2032 70

FIG NO. 41. South Korea Human Insulin Market for Rapid-acting insulin, Revenue (USD Million) 2018 – 2032 71

FIG NO. 42. South Korea Human Insulin Market for Short-acting insulin, Revenue (USD Million) 2018 – 2032 72

FIG NO. 43. South Korea Human Insulin Market for Intermediate-acting insulin, Revenue (USD Million) 2018 – 2032 73

FIG NO. 44. South Korea Human Insulin Market for Others, Revenue (USD Million) 2018 – 2032 74

FIG NO. 45. South Korea Human Insulin Market for End-user 5, Revenue (USD Million) 2018 – 2032 75

FIG NO. 46. Human Insulin Market Revenue Share, By Technology, 2023 & 2032 77

FIG NO. 47. Market Attractiveness Analysis, By Technology 78

FIG NO. 48. Incremental Revenue Growth Opportunity by Technology, 2024 – 2032 78

FIG NO. 49. Human Insulin Market Revenue, By Technology, 2018, 2023, 2027 & 2032 79

FIG NO. 50. South Korea Human Insulin Market for Technology 1, Revenue (USD Million) 2018 – 2032 80

FIG NO. 51. South Korea Human Insulin Market for Technology 2, Revenue (USD Million) 2018 – 2032 81

FIG NO. 52. South Korea Human Insulin Market for Technology 3, Revenue (USD Million) 2018 – 2032 82

FIG NO. 53. Human Insulin Market Revenue Share, By Distribution Channel, 2023 & 2032 84

FIG NO. 54. Market Attractiveness Analysis, By Distribution Channel 85

FIG NO. 55. Incremental Revenue Growth Opportunity by Distribution Channel, 2024 – 2032 85

FIG NO. 56. Human Insulin Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032 86

FIG NO. 57. South Korea Human Insulin Market for Hospital Pharmacies, Revenue (USD Million) 2018 – 2032 87

FIG NO. 58. South Korea Human Insulin Market for Drug Stores and Retail Pharmacies, Revenue (USD Million) 2018 – 2032 88

FIG NO. 59. South Korea Human Insulin Market for Online Providers, Revenue (USD Million) 2018 – 2032 89

FIG NO. 60. South Korea Human Insulin Market for Distribution Channel 4, Revenue (USD Million) 2018 – 2032 90

FIG NO. 61. South Korea Human Insulin Market for Distribution Channel 5, Revenue (USD Million) 2018 – 2032 91

FIG NO. 62. Research Methodology – Detailed View 100

FIG NO. 63. Research Methodology 101

List of Tables

TABLE NO. 1. : South Korea Human Insulin Market: Snapshot 18

TABLE NO. 2. : Drivers for the Human Insulin Market: Impact Analysis 22

TABLE NO. 3. : Restraints for the Human Insulin Market: Impact Analysis 24

TABLE NO. 4. : South Korea Human Insulin Market Revenue, By Type, 2018 – 2023 34

TABLE NO. 5. : Key Raw Materials & Suppliers 35

TABLE NO. 6. : South Korea Human Insulin Market Revenue, By Type, 2018 – 2023 (USD Million) 89

TABLE NO. 7. : South Korea Human Insulin Market Revenue, By Type, 2024 – 2032 (USD Million) 89

TABLE NO. 8. : South Korea Human Insulin Market Revenue, By Application, 2018 – 2023 (USD Million) 90

TABLE NO. 9. : South Korea Human Insulin Market Revenue, By Application, 2024 – 2032 (USD Million) 90

TABLE NO. 10. : South Korea Human Insulin Market Revenue, By End-user, 2018 – 2023 (USD Million) 91

TABLE NO. 11. : South Korea Human Insulin Market Revenue, By End-user, 2024 – 2032 (USD Million) 91

TABLE NO. 12. : South Korea Human Insulin Market Revenue, By Technology, 2018 – 2023 (USD Million) 92

TABLE NO. 13. : South Korea Human Insulin Market Revenue, By Technology, 2024 – 2032 (USD Million) 92

TABLE NO. 14. : South Korea Human Insulin Market Revenue, By Distribution Channel, 2018 – 2023 (USD Million) 93

TABLE NO. 15. : South Korea Human Insulin Market Revenue, By Distribution Channel, 2024 – 2032 (USD Million) 93

Frequently Asked Questions

What is the current size of the South Korea Human Insulin?

The South Korea Human Insulin market was valued at USD 888.93 million in 2023 and is expected to reach USD 1,386.85 million by 2032, growing at a CAGR of 5.06%.

What factors are driving the growth of the South Korea Human Insulin?

Rising diabetes prevalence, an aging population, government healthcare support, and advancements in insulin formulations are key growth drivers.

What are some challenges faced by the South Korea Human Insulin?

High cost of insulin therapies, treatment accessibility issues, and stringent regulatory requirements are major challenges.

Who are the major players in the South Korea Human Insulin?

Major players include Novo Nordisk A/S, Eli Lilly and Company, Biocon, MannKind Corporation, Pfizer, Wockhardt, Lupin, and Tonghua Dongbao Pharmaceutical Co.

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