The Global Human Insulin Market
The Global Human Insulin Market was valued at USD 28.62 Bn in 2019 is estimated to reach US$ 32.17 Bn in 2027, growing at a CAGR of 4.93% during the forecasted period.
Human Insulin is a short-acting insulin that lowers the glucose level in the body made by beta cells in the pancreas and used for hyperglycemia treatment caused by Type 1 and Type 2 Diabetes. Human insulin is manufactured in laboratories by insulin protein with E. coli bacteria and produced by recombinant DNA technology produce. Diabetes Mellitus (DM) is the chronic condition and occurs due to inadequate secretion of insulin in which blood sugar level is high.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The report estimates the growth rate of Human Insulin Market and offers in-depth insights on market dynamics, drivers, restraints, challenges and threats till 2027. The complete information is based on the latest industry news, opportunities, and trends.
Diabetes is the most prominent health disease and is increasing disgracefully with increasing population and is one of the most common recurrence health problems occurs due to high glucose level in blood. Over time, it often results to complication like hyperglycemic, diabetic ketoacidosis, heart attack, and kidney failure leading to premature death, In order to eradicate these health issue human insulin market is projected to increase considerably. According to the research about 100 Mn. people requires insulin of which 10-25% of people suffering from Type 2 diabetes. According, to the International Diabetes Federation, in 2016, around 159 Mn. people suffers from diabetes currently it is estimated to be 425 Mn. and it is predictable to grow to 283 Mn. by 2045. Furthermore, increasing awareness and investment in R&D has led to an increase in diagnosis rate and is estimated to propel the market over the forecast.
However, over 90 years, insulin has been used in diabetes treatment, more than half who need insulin today still cannot access to afford it.
Global Human Insulin Market: Trends and Opportunities
• With the growing need for human insulin, this market consist various opportunities such as application of protocols against needle stick injuries, needle anxiety, and rising awareness correlated to the threat related to the transmission of the bloodborne pathogen.
• Biocon an oral prandial insulin tablet, is developing Tregopil Insulin, use for the treatment in diabetes mellitus of type-1 and type-2.
• Oramed Pharmaceuticals Inc focusing in the development of first oral insulin product providing a more effective, convenient, as well as a safer method for delivering insulin therapy.
Recent industry developments:
• In August 2018, Ypsomed AG came in partnership with JRDF, the prominent global organization funding type I diabetes research, as a part of JDRF’s Open-Protocol Automated Insulin Delivery (AID) Systems Initiative., JRDF also claim to provide financial assets to help Ypsomed AG to speed up the development of the next generation.
• Furthermore, the World Health Organization (WHO) for the prevention and control of non-communicable diseases (NCDs) developed the action plan which delivered a roadmap for the execution of policies and programs at the national and regional level, thus driving the human insulin market growth in the region.
Global Human Insulin Market,Market Segmentation:
The report covers the brief analytical segments of the Human Insulin Market thereby providing a wider view at the macro as well as micro levels. In terms of application, Type II diabetes is expected to have the largest market progressing at a CAGR of 9.1% with a revenue of $35.1 Bn during the forecast period. This is mainly attributed because of the changing lifestyle. The rate of recurrence rate of Type 2 diabetes has multiplied in comparison to past 40 years ago. Thus, the aggregate incidence of diabetes and diabetes obesity in the world is likely to raise demand for insulin, which may drive the global market for insulin therapeutics.
Based on product type, Analogue insulin accounting for 79.5% shares and highest revenue and is expected to grow at the fastest rate during the forecast. Analogue insulin is rapidly growing because of increasing efficacy and response rate and other advantages provide as compared to traditional and high demand over five years, Analogue insulin is further subdivided into Long Acting insulin, short-acting insulin, Fast Acting Insulin and Premixed Insulin.
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