Report Overview: According to a new report by IMARC Group, the global human insulin market reached a value of US$ 34.8 Billion in 2019. Looking forward, the market is expected to continue its moderate growth during the next five years.
Human insulin refers to the synthetic insulin variant that is artificially produced in laboratories for pharmaceutical use to mimic the properties of natural insulin present in the human body. It is primarily used to control blood sugar levels in patients with type I and type II diabetes. Human insulin is commonly available in the form of rapid-action insulin, long-action insulin, and premixed insulin.
Global Human Insulin Market Trends:
The high prevalence of diabetes among the millennial population due to unhealthy dietary patterns and sedentary lifestyles is primarily driving the demand for human insulin. Furthermore, the increasing geriatric population who are more prone to hypo- or hyperglycemia is also augmenting the market for human insulin. Several technological advancements have led to the development of pen devices and safety pen needles in insulin delivery, which are further propelling the market growth. Additionally, the rising demand for biosimilar drugs is also bolstering the market growth, as these drugs are more cost-effective. Besides this, the growing investments in extensive R&D activities for new drug development will continue to drive the market for human insulin.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Human Insulin Market 2020-2025 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being B. Braun Melsungen AG, Becton Dickinson & Company, Biocon, Eli Lilly and Company, Julphar, Novo Nordisk, Pfizer, Sanofi, Sedico, Wockhardt, Ypsomed Holding, etc.
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The report has segmented the market on the basis of Product, Distribution Channel, Disease Type, and Region.
Market Breakup by Product:
- Drugs
- Delivery Devices
Market Breakup by Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Retail Stores
- Others
Market Breakup by Disease Type:
- Type I Diabetes
- Type II Diabetes
Market Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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