Global Human Insulin Market to Reach US$ 84.2 Billion by 2032, Propelled by Surging Incidences of Diabetes

August 18, 2020 | Healthcare

IMARC Group’s latest report, titled “Human Insulin Market Report by Product Type (Drugs, Delivery Devices), Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Retail Stores, and Others), Disease Type (Type I Diabetes, Type II Diabetes), and Region 2024-2032,” finds that the global human insulin market size reached US$ 48.2 Billion in 2023. Human insulin (HI), also known as regular insulin, refers to short-acting insulin synthesized in laboratories. It mimics the function of insulin naturally produced by the human body and is generally injected subcutaneously multiple times a day. It is bio-engineered by growing insulin proteins within E-coli bacteria (Escherichia coli) cells.It is widely used to regulate blood sugar levels in patients with type I and II diabetes and promote glucose uptake from the blood into internal organs and tissues, such as liver and fat cells. It also inhibits hepatic glucose production and enhances the protein synthesis of the body.

Global Human Insulin Market Trends:

The surging incidences of diabetes due to the aging population, sedentary lifestyles, and unhealthy dietary habits represent the primary factor driving the market growth. Additionally, there has been growing consumer awareness regarding the complications of prolonged diabetes, such as cataracts, heart attacks, and kidney failure. In line with this, the escalating demand for biosimilar drugs on account of their high efficiency and cost-effectiveness has catalyzed market growth. Furthermore, several key players are extensively investing in research and development (R&D) activities to develop oral insulin variants that provide a safe, effective, and convenient method of delivering insulin therapy. Apart from this, the introduction of pen devices and safety pen needles that cause minimal discomfort and reduce the risks of injuries, infections, and bloodborne pathogen transmission has accelerated the product adoption rate. Moreover, the implementation of stringent government policies against needle stick injuries and the shifting consumer preferences toward minimally invasive (MI) devices have encouraged the usage of pen devices and safety pen needles for HI administration. Other factors, including the expanding obese population, improving healthcare infrastructure, increasing consumer health consciousness, recent advancements in the biotechnology field, and product innovations, are also providing a positive thrust to the market growth. Looking forward, the market value is expected to reach US$ 84.2 Billion by 2032, exhibiting a CAGR of 6.2% during the forecast period (2024-2032).

Market Summary:

  • Based on the product type, the market has been bifurcated into drugs [human insulin analogs and biosimilars (rapid acting, long acting and premixed) and human insulin biologics (short acting, intermediate acting and premixed)] and delivery devices [pens (reusable and disposable pens), pen needles (standard and safety pen needles), syringes, and others)].
  • On the basis of the distribution channel, the market has been categorized into retail pharmacies, hospital pharmacies, online retail stores, and others.
  • The market has been divided based on the disease type into type I and II diabetes. 
  • Region-wise, 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 market has also been analyzed, with some of the key players being B. Braun Melsungen AG, Becton, Dickinson and Company (BD), Biocon Limited, 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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Global Human Insulin Market to Reach US$ 84.2 Billion by 2032, Propelled by Surging Incidences of Diabetes
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