Key Market Indicators
South African insulin exports are projected to grow from approximately $770,000 in 2023 to about $830,000 by 2028, reflecting an average annual growth rate of 1.1%. This marks a steady rise from 2005, with an annual increase of 4.5% on average. In 2023, South Africa ranked 26th globally in insulin exports, with Canada ahead at roughly $770,000. France, Italy, and China secured the 2nd, 3rd, and 4th spots, respectively. On the import front, South Africa's insulin imports are expected to rise from around $54.3 million in 2023 to approximately $58.1 million by 2028, growing at an average annual rate of 1%. Since 2005, the country's demand for insulin imports has climbed by an average of 1.4% each year.
