Key Market Indicators
Russian insulin exports are projected to reach approximately $32 million by 2028, up from nearly $25 million in 2023. This represents an average annual growth rate of 4%. Since 2001, Russia's insulin supply has seen a modest year-on-year increase of 1.1%. In 2023, Russia ranked 13th in global insulin exports, with Spain surpassing it at nearly $25 million. France, Italy, and China secured the second, third, and fourth spots respectively in the insulin export rankings. On the import front, Russia's insulin imports are expected to be close to $38 million in 2023, down from about $47 million in 2022. This marks a significant 19.9% decrease from the previous year. Historically, since 2001, Russia's demand for imported insulin has decreased by an average of 15.6% annually.
