IMARC Group, a leading market research company, has released a report titled “Human Insulin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global human insulin market size reached US$ 45.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 68.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.48% during 2023-2028.
Human insulin (HI), or regular insulin, is a short-acting form of insulin naturally occurring in the human body and is typically administered through subcutaneous injections several times a day. It is employed to treat hyperglycemia caused due to type 1 and type 2 diabetes. It is manufactured by recombinant deoxyribonucleic acid (DNA) technology and is identical to endogenously made insulin. It is bio-engineered by growing insulin proteins cultivated within E-coli bacteria (Escherichia coli) cells. Additionally, it facilitates the uptake of glucose from the bloodstream into internal organs and tissues, including the liver and fat cells, to use as energy. It also inhibits the production of glucose in the liver and promotes protein synthesis within the body to use as energy. Currently, manufacturers are introducing an inhalable variant specifically developed to serve as a meal-time bolus insulin. As a result, human insulin (HI) is easily available in retail and hospital pharmacies and online retail stores across the globe.
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Human Insulin Market Trends and Drivers:
The market is primarily driven by the increasing occurrences of diabetes due to sedentary lifestyles, geriatric population, and unhealthy dietary habits. Additionally, the growing awareness among consumers about the complications associated with long-term diabetes, such as heart attacks, cataracts, and kidney failure, is contributing to the market growth. In line with this, the rising demand for biosimilar drugs due to their effectiveness and cost-efficiency is influencing market growth. Moreover, the introduction of pen devices and safety pen needles, which minimize discomfort and reduce the risks of infections, injuries, and transmission of bloodborne pathogens, represents another major growth-inducing factor. Besides this, the implementation of stringent government regulations to prevent needle stick injuries and the shift in consumer preferences toward minimally invasive (MI) devices have promoted the use of pen devices and safety pen needles for delivering human insulin, thus accelerating the product adoption rate. Along with this, recent advancements in biotechnology, ongoing product innovations, and the development of novel insulin products are propelling market growth. For instance, in May 2022, Eli Lilly and Company obtained approval for the Mounjaro injection, a treatment that facilitates the improvement of glycemic control in individuals diagnosed with type 2 diabetes. Apart from this, human insulin (HI) is growing at different rates in numerous regions, with North America being one of the largest markets due to a sedentary lifestyle, rising occurrences of diabetes, and several technological advancements. Moreover, the industry is expected to face competition in the upcoming years as various key players are implementing competitive strategies to sustain their presence in the market. For instance, in June 2020, the U.S. Food and Drug Administration granted approval to Lyumjev, a rapid-acting insulin developed by Eli Lilly and Company to enhance glycemic control in adults diagnosed with type 1 and type 2 diabetes. Furthermore, improving healthcare infrastructure, increasing consumer health consciousness, and extensive investment in research and development (R&D) activities to develop oral insulin variants that offer an effective, safe, and convenient are creating a positive market outlook.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- B. Braun Melsungen AG
- Dickinson and Company (BD)
- Eli Lilly and Company
- Gulf Pharmaceutical Industries (Julphar)
- Novo Nordisk A/S
- Pfizer Inc.
- Groupe Sanofi
- SEDICO Co.
- Wockhardt Limited
- Ypsomed AG
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Product Type:
- Human Insulin Analogs and Biosimilars
- Rapid Acting
- Long Acting
- Human Insulin Biologics
- Short Acting
- Intermediate Acting
- Human Insulin Analogs and Biosimilars
- Delivery Devices
- Reusable Pens
- Disposable Pens
- Pen Needles
- Standard Pen Needles
- Safety Pen Needles
Breakup by Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Retail Stores
Breakup by Disease Type:
- Type I Diabetes
- Type II Diabetes
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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