According to the current analysis of Reports and Data, the Global Human Insulin Market was valued at USD 26.89 Billion in 2019 and is expected to reach USD 50.36 Billion by the year 2027, at a CAGR of 8.1%. The study covers insulin, an industrially manufactured replica of a peptide hormone produced by the pancreas for people whose bodies can’t produce it on their own. Insulin is considered to be the primary anabolic hormone which is responsible for the conversion of small molecules in the blood into large molecules inside the cells. Low insulin levels in the blood promote catabolism, which is the conversion of large molecules into smaller ones, especially of reserve body fat, which may lead to numerous complications like loss of vision, unsteadiness of limbs, and obesity. A patient is prescribed different types of insulin based on many factors, including their response to insulin and the patient’s diet, alcohol intake, and exercise to combat this lack of insulin.
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The rise in prevalence of diabetes and obesity, increase in unhealthy lifestyle habits, mergers and acquisitions by major companies, product launches, technological advancements, the development of more effective and efficient Insulin, and a favorable research funding scenario, are some of the key factors propelling market growth in the industry. However, a highly monopolized market, associated side-ffects like the risk of skin infections at the catheter site, diabetic ketoacidosis, extremely high costs of drug and device, and the hassle of checking blood glucose several times per day, may cause the consumer to opt out of insulin treatment, which is expected to hamper the market growth during 2020-2027.
Further key findings from the report suggest
- The Human Insulin market is growing at a CAGR of 9.3% in Asia Pacific, followed by North America and Europe, with 8.0% and 7.7% CAGR, respectively. A rise in the prevalence of obesity and diabetes across the globe is the key factor in accelerating market growth during the forecast period across all regions.
- As of 2019, Insulin drugs dominates the market holding 84% of the global market since insulin is a daily requirement for diabetic patients and is consumed every day.
- On the basis of application, Type II Diabetes is expected to be the fastest-growing market segment during forecast period 2020-2027 with a CAGR of 8.3%.
- Type II application segment holds a market share of 92% since most diabetic patients have type II diabetes, followed by type I diabetes, holding an 8% market share as it is a rare type of diabetes.
- Asia Pacific is expected to account for 17.9% of the global Human Insulin market due to the large prevalence of diabetes and obesity in countries like India and China.
- Extremely high costs, highly monopolized market, and associated side effects are the key challenges faced by the Insulin market players.
- Key participants include Sanofi (France), Novo Nordisk A/S (Denmark), Eli Lilly and Company (U.S.), Biocon Ltd. (India), Julphar (U.A.E.), Ypsomed AG (Switzerland), Becton, Dickinson and Company (U.S.), Wockhardt Ltd. (India), B. Braun Meselgen AG (Switzerland), and Biodel Inc. (U.S.).
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For the purpose of this report, Reports and Data has segmented the Human Insulin market on the basis of product type, drug type, device type, application, and region:
Product Type Outlook (Revenue, USD Million; 2017-2027)
- Delivery Devices
Drug Type Outlook (Revenue, USD Million; 2017-2027)
- Insulin Analogs and Biosimilars
- Long-Acting Biosimilars
- Rapid-Acting Biosimilars
- Premixed Biosimilars
- Human Insulin Biologics
- Short-Acting Biologics
- Intermediate-Acting Biologics
- Premixed Biologics
Device Type Outlook (Revenue, USD Million; 2017-2027)
- Disposable Pens
- Reusable Pens
- Pen Needles
- Standard Pen Needles
- Safety Pen Needles
Application Outlook (Revenue, USD Million; 2017-2027)
- Type I Diabetes
- Type II Diabetes
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/human-insulin-market
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