The global human insulin market grew from USD 24,332.6 million in 2014 to USD 49,197.3 million by 2020 at a CAGR of 12.4%.
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Some of the major players in the human insulin market:
- Novo Nordisk A/S.
- Eli Lilly and Company.
- Tonghua Dongbao Pharmaceutical Co., Ltd.
- Adocia, Merck & Co., Inc.
- Pfizer, Inc.
- Bristol-Myers Squibb Company.
- GlaxoSmithKline Plc.
- Oramed Pharmaceuticals, Inc.
These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.
Drivers to the Market
Globally, the human insulin market is witnessing significant growth due to increasing prevalence of diabetes and obesity. In addition, increasing R&D investments in drug discovery and development and rising awareness about diabetes are also driving the growth of the market.
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However, uneven pricing and limited access to human insulin in emerging countries and strict regulatory requirement for drug approval inhibits the growth of the market.
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North America has the largest market and Asia-Pacific has the fastest growing market for human insulin. In terms of type of human insulin, modern human insulin represents the largest and fastest growing segment of this market.
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Modern human insulin provides effective results as compared to traditional human insulin. Dosages and duration of modern human insulin vary from person to person, as insulin requirement differs from person to person. Modern human insulin reached USD 19,526.8 million in 2014 and USD 40,987.1 million by 2020, growing at a CAGR of 13.2%.
Key Market Players
Some of the major players in the human insulin market are Novo Nordisk A/S, Eli Lilly and Company, Sanofi, Biocon, Tonghua Dongbao Pharmaceutical Co., Ltd., Adocia, Merck & Co., Inc., Pfizer, Inc., Wockhardt and others.