Comprehensive Human Insulin Market Analysis: Size, Share, Trends, and CAGR 5.4% Forecast for 2023-2028
The Global Human Insulins Market is projected to grow at a CAGR of around 5.4% during the forecast period, i.e., 2023-28. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
The increasing number of diabetes cases globally favors market growth. In addition, the growing exposure of people to risk factors such as a sedentary lifestyle and obesity is increasing the chances of diseases and conditions like diabetes and high blood pressure. Thus, the rising prevalence of diabetes supports the adoption of human insulin as a treatment, fueling market expansion.
Technological advancements, research, and development in product variations and delivery methods have played a significant role in accelerating market growth. For instance, Afrezza (Mannkind) is the only inhaled form available, eliminating the need for needles and syringes. Fiasp (Novo Nordisk) is a formulation combined with Vitamin B3 (niacinamide) to improve initial absorption.
Favorable reimbursement policies in developed countries support the adoption of human insulin. However, the lack of such policies in emerging nations and undiagnosed cases could hinder market expansion. Meanwhile, the shift of consumers to analogs and biosimilars from human insulin biologics is likely to garner the attention of the growing diabetes population, promising further industrial opportunities. For instance,
- In July 2021, Semglee, an insulin product interchangeable with and biosimilar to Lantus made by India’s Biocon, got United States approval.
Exploring the Market Dynamics: What’s Driving the Growth of Human Insulin Market?
Surging Prevalence of Diabetes and Increased Insulin Product Launches - Diabetes cases are dramatically rising due to obesity and a sedentary lifestyle. Additionally, diabetes now affects all age groups, expanding the need for treatment and care. Moreover, the significant number of new product launches and higher utilization of insulin is further pushing the market forward. Major participants are introducing numerous new products, and manufacturers focus on creating unique products, driving industrial growth. For instance,
- In May 2022, Eli Lilly and Company got approved for their Mounjaro injection, which helps Type 2 diabetes patients improve their glycemic control.
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Key Takeaways from the Market Study:
· Historical Data: 2018-21
· Base Year: 2022
· Forecast Period: 2023-28
· CAGR (2023-2028): 5.4%
· Key Players to Watch: B. Braun (B. Braun Melsungen), Becton, Dickinson and Company (BD), Biocon Limited, Biodel Inc., Eli Lilly and Company, Julphar (Gulf Pharmaceutical Industry), Novo Nordisk A/S, Sanofi, Wockhardt Ltd., The Ypsomed Group, Others are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Human Insulin Industry:
- In December 2022, Novo Nordisk A/S and Amalgam Rx announced their partnership for the commercialization of Dose Check, a digital insulin initiation and titration app by Amalgam Rx to help people with type 2 diabetes.
- In December 2022, Eli Lilly and Company announced a collaboration with Eva Pharma to deliver a sustainable supply of affordable human and analog insulin to one million people living with type 1 and type 2 diabetes in low to middle-income countries (LMICs).
Market Segmentation of Human Insulin Industry
The Human Insulin market is segmented as follows:
- By Product Type
- Human Insulin Drugs
- Insulin Analogs & Biosimilars
- Long Acting Biosimilars
- Rapid Acting Biosimilars
- Premixed Biosimilars
- Human Insulin Biologics
- Short Acting Biologics
- Intermediate Acting Biologics
- Premixed Biologics
- Human Insulin Delivery Devices
- Syringes
- Pens
- Disposable Pens
- Reusable Pens
- Pen Needles
- Standard Pen Needles
- Safety Pen Needles
- By Application
- Type I Diabetes
- Type II Diabetes
According to report , the rechargeable segment holds a larger share of the Global Human Insulin Market mainly due to their lower costs.
According to reports, offline retail holds the largest market share.
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Human Insulin Market Geographical Analysis
North America
South America
Europe
Middle East & Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Human Insulin Market
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