Insulin regulates carbohydrate and fat metabolism in the human body and is a peptide hormone secreted inside the pancreas through beta cells of the islets of Langerhans. Insulin helps in the regulation of glucose metabolism and causes fat tissues or skeletal muscle cells to absorb glucose from the blood. The global human insulin market is predicted to rise exponentially in the coming years owing to the increasing prevalence of type 1 and type 2 diabetes. The rise in diabetic population is associated with the increasing aging population, the rise in the obese population, and the absence of adequate health services in large parts of the world.
Rising R&D Investments in Drug Development and Discovery to Fuel Human Insulin Market
The rising research and development (R&D) investments in drug development and discovery and the increasing awareness amongst people about diabetes is also stimulating the demand for human insulin. Furthermore, the emergence of technologically advanced human insulin delivery devices is also impacting the human insulin market positively. The prime trend seen in the market is the rising utilization of insulin pens for administering human insulin. On the other hand, factors such as the stringent regulatory needs for drug approval, and the limited access to and imbalanced pricing structure of human insulin in developing countries may impede the growth of the market in the coming years.
Modern Human Insulin to Expand at a 13.20% CAGR from 2014 to 2020
On the basis of type, the human insulin market is segmented into modern human insulin and traditional human insulin. The segment of traditional insulin is further segmented into premixed, short acting, and intermediate-acting human insulin. On the other hand, the segment of modern human insulin is further segmented into long lasting, premixed, and rapid acting human insulin. Amongst these, in 2014, the segment of modern human insulin stood at US$19.5 bn and is poised to reach US$40.9 bn in 2020. It is predicted to expand at a 13.20% CAGR from 2014 to 2020. Modern human insulin is more effective as compared to traditional human insulin. In terms of brand, the market is segmented into modern and traditional human insulin brands. Traditional brands comprise Actrapid, Insuman, and, Humulin, whereas the segment of modern brands comprises Lantus, Novomix, Humalog, Apidra, Novorapid, and Levemir.
North America Human Insulin Market Held the Largest Share in 2014
In terms of geography, the market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, the region of North America led the human insulin market in 2014 owing to the rising occurrence of diabetes and the growing geriatric population in this region. Furthermore, the presence of technologically advanced human insulin infusion devices in this region is also stimulating the growth of the market in this region. On the other hand, Asia Pacific is poised to be the most swiftly growing market in the coming years, with India and China being the major human insulin markets in this region.
The chief players dominant in the market are Eli Lilly and Company, Novo Nordisk A/S, Sanofi, Tonghua Dongbao Pharmaceutical Co., Ltd., Biocon, Merck & Co., Inc., Adocia, Pfizer, Inc., Julphar, Wockhardt, Bristol-Myers Squibb Company, Oramed Pharmaceuticals, Inc., and GlaxoSmithKline Plc., among others.
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