Globally, the demand for human insulin has mature majorly due to the rising incidence of diabetes and obesity caused by changing lifestyles and overconsumption of sugar in various varieties of food and beverages. These significant factors have grown the need for human insulin and have boosted the global human insulin market. Furthermore, increasing investments in research and development activities by various organizations that have eased out the way insulin is injected have also benefitted this market considerably.
The introduction of the safety pen needles and pen devices for efficient delivery of insulin is motivating the global market for human insulin. Moreover, mounting awareness about diabetes has motivated the demand in the human insulin market. Therefore, over the course of six years, from 2019 to 2025, the global human insulin market is likely to expand at a vigorous CAGR.
The structural tailwinds in the healthcare industry are blowing like a gale out of the global economy. The fiscal development of any country is primarily prejudiced by its healthcare industry as it proffers a mammoth array of products and endows with medical solutions in virtually all sectors of the economy. The global Human Insulin Market 2020 size is now estimated at USD 90,812.40 Million and is expected to grow at 12.10 percent per annum over the next five years that is from 2019 to 2025—states Market Research Future (MRFR). In this report, MRFR is also regularly tracking the direct effect of COVID-19 on the market at a global level.
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Over time, incidences of the disease have been augmented outrageously, with the surge in population worldwide. Approximately a hundred million people globally need insulin, including all the people suffering from Type 1 diabetes and amid 10-25% of people with Type 2 diabetes. Though insulin has been used in the treatment of diabetes for over ninety years, worldwide, more than half of those who need insulin now still cannot pay and access it. People with Type 1 diabetes require insulin therapy, which focuses on managing blood sugar levels, along with insulin, diet, and lifestyle, to avert complications. These factors have suggested being an essential factor leading the global human insulin market.
The Americas lead the human insulin market due to the growing, increasing healthcare awareness, old age population, improvement in reimbursement policies, rising prevalence of diabetes, and mounting clinical trials driving the expansion of human insulin.
In 2018, Europe stood second in the global Human Insulin market. The escalating focus on the treatment of diabetes and rising clinical trials by market players will support the growth of the Europe Human Insulin market. In the case of point, a France-based firm, Adocia, received flattering topline pharmacodynamic and safety consequences from the Phase 1 study of ADO09. ADO09 is intended to perk up postprandial glucose control and long-term outcomes for people requiring prandial insulin treatment.
Asia-Pacific might also record the peak CAGR during the forecast period. Companies are introducing innovative advanced products in this region, which is boosting the Asia-Pacific human insulin market. In March 2018, Biocon Ltd and Mylan NV received approval for biosimilar insulin glargine Semglee 100 IU/mL 3 mL prefilled pen from the Therapeutic Goods Administration (TGA) Australia.
The top players in the global human insulin market are MERCK & CO., INC., ADOCIA, Pfizer Inc., Bristol-Myers Squibb Company, Julphar, SANOFI, GLAXOSMITHKLINE PLC, Novo Nordisk India Pvt. Ltd, Oramed, BIOCON, Eli Lilly and Company, and Tonghua Dongbao Pharmaceutical Co., Ltd.
Based on the segment of type, the market includes traditional human insulin and modern human insulin. The traditional human insulin segment incorporates intermediate-acting, premixed traditional, and short-acting. The modern human insulin segment incorporates long-acting, premixed modern, as well as of rapid-acting.
The market, by the segment of the brand, has included Novorapid, Lantus, Novomix, Humalog, Apidar, Humulin, Levemir, and Insuman.
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