Growing occurrences of type I and II diabetes are anticipated to drive the Asia-Pacific Insulin Market over the forecast period (from 2012 to 2020). Insulin is basically a peptide hormone released using beta cells by the pancreas. Its major function is to allow the absorption of glucose in the body from the blood, which in turn provides energy and stabilizes the blood glucose levels. Lifestyle changes and unhealthy eating habits are common factors that lead to diabetes nowadays. In addition to this, high rates of destruction of beta cells and hypertension are also major causes of diabetes.
Moreover, factors that drive the industry are growing geriatric population base and surging demand for insulin analogs & minimally invasive & noninvasive therapies for diabetes. Greater availability of safety syringes and pen needles can also boost the Asia-Pacific insulin market in the years to come. Both private & public firms participate actively in suppressing and controlling diabetes by investing huge funds in research and development. Various emerging countries offer a huge market potential for insulin. Product demand in these regions can significantly add to overall revenues and industry shares.
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The advent of minimally invasive diagnostic treatments has created a large gap between the supply and demand of insulin to control blood glucose levels. Tremendous government support, such as subsidies & grants to insulin-manufacturing pharmacies may boost demand over the next few years. However, high costs of production and manufacturing complexities may negatively impact the industry. Growing target population base and greater awareness among patients about various treatment options for diabetes can boost product demand.
The Asia-Pacific insulin market is categorized as per products and regions. According to products, the segments are pre-mixed insulin, intermediate acting, rapid acting, long acting, and short acting. In 2013, the market for immediate-acting insulin & long acting insulin held more than 50% industry shares in terms of revenue. Owing to quick results in balancing blood sugar levels, immediate-acting insulin can witness lucrative growth in the near future. Apart from this, immediate-acting insulin is also widely being accepted by a number of medical practitioners in clinics & hospitals.
Long-acting insulin is anticipated to grow considerably during the forecast period. This type of insulin helps stabilize blood glucose levels for a few weeks at a stretch. This is a very efficient & popular method for controlling diabetes. It also exhibits long lasting effects. However, the doses can vary from person to person depending upon their specific needs. For instance, a doctor prescribes insulin dosage to his patient considering the latter’s age, consumption of junk foods, insulin production rate, levels of blood glucose, and even his consumption of alcohol.
Geographically, the Asia-Pacific insulin industry is categorized into China, Brazil, India, South Korea, Australia, and other developing nations. Regional drivers are growing geriatric population and heightened awareness among people about diabetes & its treatments. Steady improvements in healthcare infrastructure and the availability of innovative technologies can boost the market in the coming years.
Some of the major players in the Asia-Pacific Insulin Market are Novo Nordisk A/S.; Eli Lilly and Company; and Shanghai Fosun Pharmaceutical (Group) Co. Ltd. The sleek “InPen” by Companion Medical is a Bluetooth-enabled reusable smart insulin pen. It is a “free of buttons & screens” automatic device that will track your insulin doses, sending the data via Bluetooth to its paired Smartphone applications compatible with iPhones, as well as with Android devices. These apps will have a bolus calculator, dose history, insulin temperature (if it gets too cold or too hot, prompting the alarm), and automatic insulin-on-board tracking among the available details.
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