Market Research Future (MRFR) expects the human insulin market to attain a 11.91% CAGR between 2020 and 2030. The market size could touch USD 156478.39 Million by 2030.
Diabetes is a major lifestyle-related condition that has affected a massive population worldwide. The burden of the disorder continues to surge as the worldwide population explodes. Around 100 million people worldwide require insulin, including those that suffer from Type 1 diabetes while between 15-30% of those patients are Type 2 diabetes.
Despite insulin being the primary form of treatment for diabetes, majority of that that require insulin are still unable to afford and have easy access to it. The significant costs associated with insulin analogs remains a huge factor restraining the market growth. Moreover, patients affected by diabetes are required to regularly take insulin supplements, throughout their lifetime, putting substantial financial burden on them.
However, extensive research and development in the insulin segment has risen incredibly over the years, with researchers working on developing suitable molecules for patients' use. This could help bring down chances of side effects, and enhance their efficiency. Therefore, the surging prevalence of diabetes along with obesity across the world would augment the market demand in the next few years.
Covid 19 Analysis
Covid 19 had a profound impact on the human insulin market. Due to restrictions in travel and movement of goods, there were wide disruptions in the supply chain. Moreover, the temporary shut down of manufacturing units to curb the virus spread decreased the production rate. Thus, there was a huge shortage of human insulin worldwide for a short period. However, the human insulin market has shown rapid recovery post covid period.
The increasing prevalence of diabetes is the key factor driving the human insulin market growth. The percentage of the population suffering from obesity & diabetes has risen significantly owing to change in lifestyle and dietary habits. This is, in turn, raising the demand for human insulin.
There has been a remarkable development in insulin production technology which is further increasing its adoption rate. Newer technologies such as recombinant DNA technology have enabled mass production of insulin to meet the huge demand. Thus, this has made insulin affordable and available to reach a wider population. The ongoing research activities are also likely to increase the market value further.
The rising disposable income of people is too a major contributor to the rising demand for insulin. Moreover, increasing awareness about the disease and easy acceptance is supporting the growth of the human insulin market.
The high cost of insulin analogs is the major factor hindering the human insulin market growth. Additionally, the patients suffering from diabetes need to take insulin supplements regularly, forever for their lifetime which puts a financial burden on the individuals. The need for highly skilled manpower and sophisticated manufacturing infrastructure increases the manufacturing cost. Furthermore, strict regulatory requirements for insulin approval are also a potential restraining factor.
Human insulin is synthetic insulin manufactured in the industry to mimic natural insulin produced by the pancreatic cells in our body. It is used as an insulin supplement to treat diabetes. Insulin is a vital hormone in our body that helps in controlling blood sugar levels and the metabolism of carbohydrates, proteins, and fat.
Human Insulin is manufactured using recombinant DNA technology by inserting an insulin-producing gene into e-coli bacteria as the host. It is used as a subcutaneous injection in the fat layer of the skin. The final product is available in vials and can be injected through syringes, insulin pumps, insulin jets, etc.
This report aims to provide a complete overview of the Human Insulin market. The specific objectives of this market report are given below:
Segmentation of the human insulin Market, by Type
Modern human insulin is the leading market segment. The greater advantages of modern insulin especially properties like rapid action and higher efficiency increase its market value. Modern human insulin, also known as analog insulin, has a more predictable duration of action than the traditional types.
Segmentation of the human insulin market, By Applications
Type - 1 diabetes leads the market segment owing to the need for regular administration of insulin. This type of diabetes is also known as insulin-dependent diabetes. In this case, pancreatic cells produce less or no insulin which raises the need for artificial supplementation.
However, type 2- diabetes is more prevalent among the other types. A study finds that about 95 % of diabetic patients suffer from type 2 diabetes. It occurs when our body doesn't make enough insulin to fulfill the body's need or is not able to utilize Insulin properties. In this case, the patient may control blood sugar level through his diet and only requires insulin in severe cases.
Segmentation of the Human insulin market, By Brand
Among different brands, Lantus is the leading Insulin brand. It is a long-acting insulin analog and is available in more than 120 countries. However, Apidra and Levemir are the fastest-growing market segments. The Apidra is a rapidly acting analog insulin type and Levemir is a long-acting insulin analog used as base insulin. Moreover, there is stiff competition among different brands which will bring a positive effect on the market.
The different regional markets for the Human Insulin market are:
Americas occupy the lead market position owing to the greater prevalence of diabetes in this region. The rising geriatric and obese population are likely to increase the demand for insulin in this region as they are the most sufferer of diabetes. Moreover, high government expenditure on healthcare infrastructure and services provides a favorable environment for market growth.
Asia-pacific is the fastest growing market segment. This region also houses nearly 60 percent of the world's diabetic population. Moreover, increasing the disposable income of people and improving healthcare infrastructure are fueling the market growth. Furthermore, Fast modernization and change in lifestyle are increasing the prevalence of diabetes in this region. Moreover, the widespread presence of pharmaceutical industries and insulin manufacturing companies will boost the market growth in this region.
Europe with a large geriatric population holds a significant share in the human insulin market. According to a report, around 60 million people in Europe suffer from diabetes. Moreover, the good presence of medical research institutes and insulin manufacturing companies makes this region a leader in the insulin trade. The Middle East and Africa segment are expected to show moderate growth over the forecast period.
The major global companies playing a key role in the Human Insulin market are :
Tandem Diabetes Care’s new t:connect mobile app has gotten the FDA clearance. The app helps in controlling bolus insulin dosing, says the San Diego-based diabetes tech developer. Patients that use t:slim X2 insulin pump will have access to the app to either cancel or program bolus requests, delivering an additional dose of short- or rapid-acting insulin during mealtimes to monitor the blood sugar levels.
Biocon has entered a partnership with Viatris (previously known as Mylan) for the development and commercialization of an extensive range of insulin and biosimilar products including human insulin, aspart; insulin glargine, bevacizumab, trastuzumab, in-licensed products adalimumab, pegfilgrastim and etanercept.
This report will be beneficial for every stakeholder of the Human Insulin market such as :
This report provides an in-depth analysis of the Human Insulin market in terms of current value and future forecast. We have also highlighted the problems and prospects of the given market. Moreover, technological analysis of the product will greatly help to get details about the know-how of the product. Furthermore, this human insulin market report contains a detailed analysis of every segment of the human insulin market for the current forecast period. Human insulin market report has also highlighted the key players and the current developments in the given market.
|Market Size||2030: 156478.39 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Modern Human Insulin and Brand|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ADOCIA, MERCK & CO., INC., Julphar, Pfizer Inc., Bristol-Myers Squibb Company, GLAXOSMITHKLINE PLC, SANOFI, Oramed, Novo Nordisk India Pvt. Ltd, Eli Lilly and Company, BIOCON, and Tonghua Dongbao Pharmaceutical Co., Ltd.|
|Key Market Opportunities||increasing affordability of human insulin|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Human Insulin Market is expected to accumulate revenues at a CAGR of 11.91% By 2030.
Human Insulin Market is driven by the large prevalence of diabetes mellitus.
The large geriatric populace affected by diabetes and diabetes management are two of the secondary drivers which can fuel the Human Insulin Market.
The Americas holds the largest share of the Human Insulin Market.
Europe holds the second-largest share of the Human Insulin Market owing to heavy funds in research of diabetes.
Oramed Pharmaceuticals, Inc., ADOCIA, Julphar, Novo Nordisk A/S, Bristol-Myers Squibb Company, Tonghua Dongbao Pharmaceuticals Co., Ltd., Biocon Ltd, Merck & Co, GlaxoSmithKline, Sanofi, and Pfizer, Inc. are major players of the Global Human Insulin Market.