Product Overview Insulin controls the metabolism of fat and carbohydrates in the body. It is a peptide hormone that is secreted by the beta cells of the islets of Langerhans in the pancreas and helps control the metabolism of glucose.
New York, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Human Insulin Market: Market Segments: By Product ; By Application ;and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030" - https://www.reportlinker.com/p06191562/?utm_source=GNW
It allows the blood to absorb glucose from skeletal muscle cells and fat tissues. By increasing insulin protein with the aid of human insulin refers to synthetic insulin developed in laboratories. It is possible to administer human insulin orally or by insulin infusion systems. Syringes, injection needles, and insulin pumps are some common insulin infusion machines. To produce insulin on time and consistently, these machines are used. Compared to conventional human insulin, modern human insulin achieves successful outcomes. The dosages and length of modern human insulin differ from person to person, since the demand for insulin varies from person to person.
Global Human Insulin Market to surpass USD 90.12 Billion by 2030 from USD 42.12 Billion in 2018 at a CAGR of 8.12% throughout the forecast period, i.e., 2019-30.
The growth of the worldwide demand for human insulin is mainly due to the increasing prevalence of diabetes. Changes in lifestyles, rising levels of obesity as well as geriatric populations, and insufficient healthcare facilities are factors leading to an increasing number of diabetic patients globally. The growth of this market has also been fueled by favorable government policies and technological advancements such as innovation in insulin pens. Moreover, rising R&D investment in drug research and production and increasing awareness of diabetes is also driving the growth of the market.
Global Human Insulin Market: Segments
HI delivery devices segment to grow with the highest CAGR of 11.12% during 2019-30
Global Human InsulinMarket is segmented by products into HI drugs and delivery devices. The greater market share of 79.2% in 2018 was accounted for by the HI drugs segment and growth in this segment is due to the high diabetes prevalence, increased drug discovery and development activities in research and development (R&D), increased consumer demand for HI analogs, and an increase in the geriatric population. HI, medications are further categorized into analogs and biologics, while syringes, pens, pen needles, pumps, and others are further categorized into HI delivery systems. Pens are further categorized into two groups of pens: reusable and disposable.HI, delivery devices are expected to be the faster-growing category, globally, advancing at a CAGR of 11.1% during the forecast period. This is due to the rising prevalence of diabetes in countries with a large number of diabetic patients, such as China and India, and the growing focus of insulin pen manufacturers. In addition, some of the other factors driving the growth of this product category are technical developments in pens and medical reimbursements offered in developed regions.
Type II DiabetesSegment to grow with the highest CAGR of 9.12% during 2019-30
Global Human Insulin Market is segmented by application into type II diabetes, type I diabetes, and gestational diabetes, and prediabetes. The greater market share in 2018 was accounted for by type II diabetes in the human insulin market, with a revenue contribution of $35.1 billion and is expected to be the fastest-growing application segment over the forecast period. This can be mainly attributed to the increase in the prevalence of type II diabetes. Type II diabetes is expected to be the fastest-growing application area in this market, advancing at a CAGR of 9.1% during the forecast period which is attributed to the prevalence of type II diabetes is growing. Compared to 40 years ago, the recurrence rate of type 2 diabetes has multiplied. Therefore, the global overall incidence of diabetes and diabetes obesity is likely to increase the demand for insulin, which may drive the global insulin therapeutics market.
Global Human InsulinMarket: Market Dynamics
Growing Diabetes Prevalence
The rise in diabetic patient numbers is not limited to developing countries but is also seen in emerging countries. The worldwide increasing prevalence of diabetes coupled with the rising obese population is the key factor driving the human insulin demand because of the shift in lifestyle. The advent of pen devices, as well as safety pen needles for efficient insulin delivery, are also the driving forces for the global demand for human insulin. This is due to the different benefits compared to other regular needles when administering insulin by safety pens. There are various opportunities in the human insulin industry, such as enforcing regulations against needlestick accidents, needle anxiety, and a rising understanding of the risk of bloodborne pathogen transmission.
Technological advancements in the field of human insulin delivery devices
The rising use of insulin administration delivery devices can be seen as a major trend in the HI industry. Technological developments in insulin delivery devices have triggered investments by different industry participants in the production of insulin delivery devices. In September 2016, for example, the U.S. Medtronic’s MiniMed 670 G, the first closed-loop artificial pancreas hybrid device designed to control blood sugar levels and automatically modify basal insulin doses in patients with type I diabetes, has been approved by the Food and Drug Administration (USFDA). The R&D in the insulin segments is rising year-on-year, as researchers strive to bring out the best molecule for the use of patients, minimize maximum side effects, and improve their effectiveness. As a result, the growing prevalence of obesity and diabetes worldwide is likely to increase considerable insulin demand, which could drive the global insulin therapeutics market.
High implementation and maintenance cost
Nevertheless, rigid regulatory standards for product approval are limiting the development of the demand for human insulin. Moreover, the high cost of producing goods presents major challenges to market growth during the forecast period.
Global Human Insulin Market: Regions
Global Human InsulinMarket is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Human InsulinMarket in North America held the largest market share of 39.2% in the year 2018 due to the increased incidences of diabetes and a growing geriatric population. In terms of revenues, European countries such as Germany, France, and Italy are developing. The Asia Pacific, on the other hand, is expected to display strong growth during the forecast period. In the forecast period, favorable government initiatives coupled with growing R&D initiatives by large businesses are boosting the human insulin market in this region. Due to its economic affordability for patients, the conventional North American human insulin drug market is projected to expand during the forecast period. Humulin, led by Novolin, has the largest market share. The conventional North American human insulin drug market in the United States does not have generic rivals.
The Global Human Insulin market, which is highly competitive, consists of several major players such as B. Braun Melsungen AG; Becton, Dickinson, and Company; hold a substantial market share in the Global Human Insulin market. Other players analyzed in this report are Eli Lilly and Company; Novo Nordisk A/S; Wockhardt Limited; Ypsomed AG; Medtronic PLC; and Gulf Pharmaceutical Industries (Julphar). among others
The key players are launching various products in the human insulin industry to increase their market share. For instance, in March 2018, Biocon Limited received marketing authorization approval from the European Union (EU) and the Therapeutic Goods Administration (TGA) of Australia for Semglee (biosimilar insulin glargine) prefilled disposable pen. Semglee, which is developed by Biocon Limited in collaboration with Mylan N.V., is a 100 units/mL 3 mL prefilled disposable pen for people with diabetes.
Global Human Insulin Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Human Insulin Market: Key Players
B. Braun Melsungen AG
Key Product Offerings
Key Performance Indicators
ALBIREO PHARMA, INC
BECTON, DICKINSON, AND COMPANY
SOME HOLDING AG
ELI LILLY AND COMPANY
NOVO Nordisk A/S
Tonghua Dongbao Pharmaceutical Co., LTD
Gulf Pharmaceutical Industries
Oramed Pharmaceuticals, Inc
Merck & Co., Inc.
Global Human InsulinMarket report also contains analysis on:
Global Human InsulinMarket Segments:
By Delivery Devices:
Type I Diabetes
Gestational Diabetes and Prediabetes
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Read the full report: https://www.reportlinker.com/p06191562/?utm_source=GNW
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