According to recently published data by the WHO, there are about 150 mn people with diabetes mellitus across the world. The organization attributes this alarming figure to the rising ageing population, genetic predispositions, and growing prevalence of a sedentary lifestyles. If these factors continue to have a steady impact, the current figure is expected to double by 2025.
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The expert industry analysts have suggested that the growing population suffering from type 1 diabetes and increasing usage or prescription of insulin for diabetics are the two main factors bolstering the global and China insulin market. In addition, the growth of the insulin market will also be augmented as lifestyles change, medical infrastructures improve, and dietary habits shift towards fast food, becoming the precursor for diabetes in many cases, around the world. The research report analyzes the market with the help of SWOT analysis and Porter’s five forces analysis. With the former, it sheds light on the strengths, weaknesses, opportunities, and threats of the market, while the latter is used for determining the threat of new entrants, threat of substitute products or services, bargaining power of customers (buyers), bargaining power of suppliers, and intensity of competitive rivalry.
The research report states that the global and China insulin market is expected to grow at a CAGR of 6.10% between 2013 and 2019 to reach US$32.2 bn by the end of 2019, from US$19.9 bn in 2012. The global and China insulin market is segmented on the basis of mode of action and source. The modes of action seen in the insulin market are rapid-acting, long-acting, short-acting, intermediate-acting, and premixed. On the other hand, the sources of insulin are human insulin and modern insulin.
Amongst the types of insulin, the long-lasting insulin segment is expected to grow at a CAGR of 8.70% in the forecast period. This mode of action for managing sugar levels will be popular amongst insulin-dependent diabetics, as only a small dosage is required to bring down blood glucose. Additionally, relatively relaxed regulations regarding the pricing of long-lasting insulin and availability of a wide range of products will also foster the growth of this segment in the overall insulin market.
In 2012, the rapid-acting insulin segment was at the second position in the overall market. In the same period, the premixed insulin segment held a market share of over 50% in the global and China insulin market. In the foreseeable future, intermediate-acting and short-acting insulin are expected to lose ground, as diabetics are shifting preferences and neither of these types of insulin are supported by adequate research and development channels.
Companies Mentioned in the Global and China Insulin Market are:
Some of the important players in the global and China insulin market are Novo Nordisk A/S, Sanofi, and Eli Lilly and Company.
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