It’s being expected that by 2030, the Human Insulin market cap will hit USD 156478.39 Million at a CAGR growth of about 11.91%.
Risk factors that play major role in diabetes are increase in the patients suffering from diabetes, rise in the population to factors which lead to diabetes, development in technology in delivery devices of insulin and increasing elderly population.
With increase in rate of obesity and diabetes, human insulin market is experiencing a substantial growth across the globe. The factors that drive the growth of human insulin industry are rise in awareness regarding diabetes, development and growing investments for drug discovery. Although, strict rules for approval of drug, restricted access to human insulin in developing countries and irregular prices are hindering the growth of human insulin market globally.
Global human insulin market trends is occurrence of diabetes with increasing obese population because of deteriorating standards of living. In addition, factor that is fueling the growth of human insulin industry is research done on pen devices and safety pen needles used for delivery of insulin. Human insulin industry comprises of several opportunities like needle anxiety, increase in awareness related to the threat of transmission of pathogen present in blood. Moreover, biosimilar drugs are getting popular because of affordable prices that are impacting the growth of global human insulin market.
For increasing the human insulin market share, manufacturers in insulin industry are encouraging collaborations and partnerships. For example, in August 2018, Ypsomed AG had partnership with JRDF in which JRDF is helping Ypsomed financially for increasing the next generation development with interoperated myLife YpsoPump insulin pump. In October 2018, Ypsomed collaborated with Koninklijke Philips N.V to organize and develop cloud based Healthsuite digital platform by Philips and digital services that will monitor self-medication on the basis of Ypsomed’s connected devices.
Global human insulin market is divided on the basis of type of product, brands and region. Based on type of product, human insulin market is divided into modern and traditional human insulin. Modern human insulin consists of rapid acting types, long acting types and premixed acting types. Premixed and long acting modern insulin are the rapidly growing segments. Traditional human insulin is divided into short acting human insulin, intermediate acting human insulin and premixed human insulin.
On the basis of brands, human insulin market are divided into modern and traditional human insulin brands. Modern human insulin brand consists of Novomix, Lantus, Humalog, Novorapid, Apidra and Levemir whereas traditional human insulin brands involve Actrapid, Insuman and Humulin. In past years, biosimilars had become popular compared to branded drugs. Wosulin, Glaritus and Basalog are biosimilars present in Asia pacific. In brands, lantus hlods the largest human insulin market share whereas Apidra and Levemir are rapidly growing insulin drugs.
Geographically, regions focusing on increasing the human insulin market size are Europe, North America, Latin America, Asia Pacific and Middle East & Africa. North America is dominating the global human insulin market because of occurrence of diabetes and developments in insulin delivery. Latin America and Asia Pacific are the rapidly growing region.
Key Segments in the “Global Human Insulin Market” are-
By Type of product market is segmented into:
- Modern Human Insulin
- Rapid acting human insulin
- Long acting human insulin
- Premixed acting human insulin
- Traditional Human Insulin
- Short acting human insulin
- Intermediate acting human insulin
- Premixed human insulin
By Brands market is segmented into:
- Modern Human Insulin Brand
- Traditional Human Insulin Brand
By Regions market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
What to expect from the Global Human Insulin Market report?
- Predictions of future made for this market during the forecast period.
- Information on the current technologies, trends, devices, procedures, and products in the industry.
- Detailed analysis of the market segmentation, depending on the types, devices, and products.
- Government regulations and economic factors affecting the growth of the market.
- An insight into the leading manufacturers.
- Regional demographics of the market.