According to the latest report by IMARC Group, titled "Human Insulin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global human insulin market size reached US$ 34.8 Billion in 2019. Human insulin (HI) is a short-acting insulin that is synthesized in laboratories. Commonly utilized to mimic the function of natural insulin present in humans, it is bio-engineered by growing insulin proteins within E-coli bacteria (Escherichia coli). It is available as a solution and suspension and is required to be injected subcutaneously. It is widely employed for controlling the blood sugar levels of patients with type I and II diabetes. HI functions by aiding the sugar produced by the human body to move from the blood to other body tissues where it is used for energy. It can additionally stop the liver from producing more sugar. Apart from this, HI also assists in inhibiting the hepatic glucose production and improving the protein synthesis of the body.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Human Insulin Market Trends:
The market is primarily driven by the growing incidences of diabetes and obesity on the global level. This can be attributed to the shifting dietary patterns, sedentary lifestyles led by the masses and the growing geriatric population. In addition to this, the rising awareness regarding the complications of prolonged diabetes, such as cataracts, heart attack and kidney failure, is expected to facilitate the uptake of HI by diabetic patients. Moreover, there has been a gradual shift from standard needles for administering HI to advanced alternatives. The adverse effects of using a traditional needle include infections and bloodborne pathogen transmission. This has compelled healthcare professionals to prescribe pen devices and safety pen needles to administer HI as they cause minimal discomfort. The market is further driven by the increasing preference for biosimilar drugs due to their cost-effectiveness and enhanced efficiency. Furthermore, extensive research and development (R&D) undertaken by key market players has led to the introduction of oral insulin variants. These alternatives are anticipated to offer a safe, effective and convenient method of delivering insulin therapy, which, in turn, will create a positive outlook for the market. On account of the aforementioned factors, the market is expected to exhibit moderate growth during 2020-2025.
- On the basis of the product, the market has been bifurcated into drugs (human insulin analogs and biosimilars, and human insulin biologics) and delivery devices (pens, pen needles, syringes and others).
- Based on the distribution channel, the market has been classified into retail pharmacies, hospital pharmacies, online retail stores and others.
- On the basis of the disease type, the market has divided into type I and type II diabetes.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players. Some of these players include B. Braun Melsungen AG, Becton, Dickinson and Company (BD), Biocon, Eli Lilly and Company, Gulf Pharmaceutical Industries (Julphar), Novo Nordisk A/S, Pfizer Inc., Groupe Sanofi, SEDICO Co., Wockhardt Limited, and Ypsomed AG.
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