Human insulin is also known as synthetic insulin which is prepared in laboratory and has same characteristics like natural insulin. Human insulin was developed through the 1960s and 1970s and approved for pharmaceutical use in 1982. Before the invention of human insulin animal insulin, usually a purified form of porcine was used.
Market Research Future (MRFR) postulates that the market for Global Human Insulin is expected to reach up to $40 billion by the end of the forecasted period and is expected to grow at a CAGR of ~10-12%The augmenting prevalence of diabetes mellitus is highly favoring the market at a global level. Human insulin is referred to as synthetic insulin which is generally manufactured in the laboratories by developing insulin protein with E. coli bacteria. Insulin helps to regulate carbohydrate and fat metabolism in the body. The products available in the human insulin market are delivery devices and HI drugs.
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Global Human Insulin Market: Competitive Landscape
Some of the key players in this market are:
- Biocon Ltd
- Bristol-Myers Squibb Company
- Oramed Pharmaceuticals Inc
- Tonghua Dongbao Pharmaceuticals Co. Ltd.
- Merck & Co
- Pfizer Inc
- Novo Nordisk A/S.
Human Insulin Market Segmentation
The global human insulin market has been segmented based on type, methods, indication, and end users. By type, the market has been segmented into accessories and devices. By methods, the market has been segmented into traditional human insulin and modern human insulin. By indication, the market has been segmented into type 1 diabetes and type 2 diabetes. By end users, the market has been segmented into hospitals, forensic laboratories, research centers, and others.
Human Insulin Market Regional Analysis
The global human insulin market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa. North America accounts for the largest share of the global human insulin market owing to high health care spending, the presence of major players in the region who invest more money in R&D activities and inclination towards quality healthcare. The US is the largest market in the region followed by Canada while South America is expected to be the fastest growing region. The Europe market for human insulin is strong and is driven by the presence of a large pool of patients and the availability of funds for research and development in countries such as Germany. Asia Pacific market growth is supported by the presence of a vast patient base and rising prevalence of diabetes in the region. Improvement in healthcare infrastructure in countries such as China, India, and Japan is key to the growth of the market. Moreover, Asia Pacific hosts a huge geriatric population who are at more risk of acquiring diabetes. The Middle East & Africa market is expected to exhibit steady growth over the forecast period. Countries such as United Arab Emirates (U.A.E.), Saudi Arabia, and Oman have a robust healthcare infrastructure which drives the market in the Middle East while in Africa, weak economic conditions and under-developed healthcare sector deters the growth of the market.
Table Of Content
1. Report Prologue
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVE
2.3 MARKET STRUCTURE
2.4. MARKET SEGMENTATION
3. Research Methodology
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
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