The global human insulin market is expected to exhibit a strong 12.1% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The market is expected to reach a valuation of USD 90.8 billion by 2025. The research report profiles the global human insulin market in great detail and provides readers with a comprehensive overview of the market. The market’s historical growth trajectory, present conditions, and future growth prospects are studied in the report. The report provides a comprehensive overview of the market’s historical growth trajectory by detailing the historical stats regarding the market. Future projections are based on the detailed historical stats offered in the report. Based on this platform, future projections for the human insulin market’s growth trajectory over the forecast period are provided in the report.
The report also profiles the leading players in the global human insulin market and gives readers a comprehensive analysis of the leading players in the global human insulin market. The report also profiles the major drivers and restraints affecting the global human insulin market. The factors making the market tick and those holding the market back are studied in detail in the report. The impact of the COVID-19 pandemic on the human insulin market is also assessed in the report.
Human insulin is synthetic insulin manufactured through the use of E. coli bacteria. The growing prevalence of diabetes has been the major driver for the global human insulin market. Diabetes is a chronic and noncommunicable disease that causes several complications in the circulatory and cardiac systems.
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It is a major causative agent for cardiac, pulmonary, and circulatory disorders. It can also complications that cause kidney failure, known as diabetic nephropathy. The severe consequences of diabetes have led to a growing awareness about the disease in recent years. This has led to a growing demand for human insulin. Growing prevalence of diabetes is likely to remain the major driver for the global human insulin market over the forecast period.
Competitive Analysis
Leading players in the global human insulin market include Tonghua Dongbao Pharmaceutical Co. Ltd., Biocon, Eli Lilly and Company, Novo Nordisk India Pvt. Ltd., Oramed, Sanofi, GlaxoSmithKline plc, Bristol-Myers Squibb Company, Pfizer Inc., Julphar, Merck Co. Inc., and Adocia.
In May 2019, Eli Lilly and Company brought out a cheaper alternative to its rapid-acting insulin product. The new product is called the insulin Lispro injection and is 50% cheaper than the identical medicine, Humalog U-100.
In August 2018, Novo Nordisk acquired all the shares of Ziylo. Through this acquisition, Novo Nordisk gained full rights to Ziylo's glucose binding molecule platform to develop glucose responsive insulins (GRIs). This is a critical strategic area for Novo Nordisk in its effort to develop this next generation of insulin, which would lead to safer and more effective insulin therapy.
Segmentation
The global market report containing details on human insulin claims that a segmental study would help in reaching good depth. This would be possible due to a segmentation that includes type and brand.
- By Type, the human insulin market can be segmented into traditional human insulin and modern human insulin. The traditional segment can be further analyzed on the basis of intermediate-acting, premixed traditional, and short-acting. The modern insulin segment would include long-acting, premixed modern, and rapid-acting. In 2018, it was the modern insulin segment, which was leading the global market.
- By Brand, the global human insulin market can be segmented into Novorapid, Humulin, Humalog, Lantus, Levemir, Apidar, Novomix, and Insuman. The Lantus brand has the maximum market coverage, whereas, Levemir and Apidar would record the fastest-growth.
Regional Analysis
North America leads the global human insulin market. The largest market share attributes to the rising prevalence of type-1 and type-2 diabetes and the rising demand for human insulin to treat diabetic conditions. Besides, the presence of major industry players and a large diabetic population base positively impacts the insulin market demand in the region.
The US accounts for the major share in the regional market heading with the massive funding for projects designed to improve diabetes care. The North American human insulin market is projected to retain its leading position in the global market throughout the review period.
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Europe stands second in the global human insulin market. The market is driven by the continually rising type 1 and type 2diabetes patient population. Moreover, the well-established pharmaceutical industry, alongside government funding and support for RD and amendments in healthcare reimbursement policies, increases the insulin market size in Europe. The human insulin market in the European region is estimated to create a substantial revenue pocket during the assessment period.
The Asia Pacific human insulin market is growing briskly. Factors such as the increasing pool of diabetic patients and the aging population drive the regional market growth. Additionally, vast developments in healthcare technology and rising numbers of healthcare facilities in the region foster the insulin market share. Markets in China and India account for substantial shares in the regional market. The APAC human insulin market is expected to witness a significant rise over the predicted period.
