The market for human insulin drugs was valued at US$ 42,283.9 million in 2021 and is anticipated to grow at a CAGR of 8.1% from 2022 to 2028 to reach US$ 73,127.2 million. Due to the rising prevalence of diabetes worldwide and rising demand for human insulin medications, the market for human insulin drugs is expanding rapidly. Additionally, it is anticipated that a greater emphasis on the development of innovative medications and rising public awareness will accelerate market expansion. The global human insulin drug market is anticipated to develop, although factors including the increase in hypoglycemia cases as a result of poor awareness and the rising cost of insulin are predicted to restrain it.
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The global market for human insulin drugs is divided into five regions based on geography: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Due to the rising prevalence of diabetes and rising demand for human insulin medicines in this region, North America is predicted to obtain the largest market share among all other regions over the course of the projected period. For instance, a group of medications known as human insulin is used to treat both type 1 and type 2 diabetes. The American Diabetes Association (ADA) estimates that 37.3 million Americans, or 11.3% of the population, had diabetes in 2019. Additionally, almost 1.4 million Americans receive a diabetes diagnosis each year.
Due to the region’s rising diabetes prevalence and ageing population, Asia Pacific is also anticipated to experience rapid expansion in the worldwide human insulin medication market. For instance, the demand for human insulin medications is rising quickly along with the prevalence of diabetes in India. The World Health Organization (WHO) estimates that 8.7% of Indians between the ages of 20 and 70 have diabetes, making it a major problem in the country. The diabetes epidemic is said to have its epicentre in India.
Over the course of the forecast period, it is anticipated that the prevalence of diabetes (including type 1 and type 2 diabetes) would rise globally. Diabetes is a significant risk factor for renal failure, heart attacks, strokes, blindness, and lower limb amputation. Compared to high-income countries, the prevalence of diabetes has been increasing more quickly in low- and middle-income nations. The bulk of the world’s 422 million diabetics live in low- and middle-income countries, and diabetes is directly responsible for 1.5 million fatalities annually, according to the World Health Organization (WHO).
Over the course of the projected period, an increase in demand for human insulin medicines to treat diabetes is anticipated to boost market expansion. For instance, the demand for human insulin medications is rising quickly along with the prevalence of diabetes (both type 1 and type 2 diabetes). Novo Nordisk announced the introduction of oral semaglutide for the treatment of type 2 diabetes in India in January 2022. Glucagon-like peptide (GLP-1) receptor analogue oral semaglutide is a promising supplement to the treatment of diabetes. The medicine was only offered in injection form up until this point.
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Players in the human insulin medication market should see significant growth prospects as the focus on creating innovative drugs increases. For instance, market participants are concentrating on releasing novel pharmaceuticals to meet rising demand. Semglee (insulin glargine injection), a product of Biocon Biologics, went on sale in the United States in September 2020. Children and adults with type 1 and type 2 diabetes can use the medication to manage their blood sugar levels. Semglee is a medication that has been given FDA approval.
Global elderly population rise is anticipated to present profitable potential possibilities for market participants in human insulin drugs. For instance, the combined effects of growing insulin resistance and decreased pancreatic islet function with ageing place the geriatric population at higher risk for type 2 diabetes. The number of individuals 65 and older, which is currently 703 million, is expected to increase to 1.5 billion by 2050, according to the UN. By 2050, the number of people over 65 will quadruple in many areas while the average lifespan would rise by 19 years.
Insulin is necessary for the treatment of diabetics. As a result of the significant global rise in diabetes prevalence, there is an increase in the need for insulin medications. Players in the market are concentrating on creating and releasing unique pharmaceuticals as a result. The market for human insulin drugs is predicted to expand as a result of this trend during the course of the forecast period.
The increased use of biosimilar insulin medications across the globe is another significant market trend. There is growing interest in creating and using biosimilar insulin, which is a biological replica of an original insulin. The interchangeable biosimilar medication Semglee was the first to be authorised for the management of diabetes in the United States. Over the projection period, this tendency is also anticipated to persist, fueling the market’s expansion.
The global market for human insulin drugs is predicted to have slow growth as a result of an increase in hypoglycemia cases brought on by a lack of public awareness. For instance, when the level of sugar (glucose) drops too low, hypoglycaemia (low blood sugar level) results. Diabetes sufferers are the group most impacted. It is crucial to be aware of hypoglycemia or low blood sugar levels because ignorance of the illness is a significant risk factor.
The market for human insulin drugs is predicted to develop slowly as a result of rising insulin pricing. For instance, the cost of insulin has increased dramatically over time, and patients now pay twice as much out of pocket for their prescriptions. As a result, diabetics find it difficult to regulate their blood sugar levels by affording insulin medications. According to a recent RAND Corporation analysis, the price of insulin in the United States is more than the aggregate price of 32 comparable high-income countries (published in October 2020).
The product type and geography categories are used to segment the worldwide human insulin medication market study.
The market is divided into Human Insulin, Basal Insulin, Bolus Insulin, Insulin Combinations, and Biosimilar Insulins based on Product Type. Due to the rising prevalence of diabetes around the world, the human insulin segment is anticipated to dominate the global market for human insulin drugs over the course of the forecast period. Type 1 and type 2 diabetics are given human insulin to manage their blood sugar levels.
Due to the increased acceptance or release of biosimilar insulin, the biosimilar insulins segment is also anticipated to have considerable growth in the near future. There is growing interest in creating and using biosimilar insulin, which is a biological replica of an original insulin.
Thiazolidinedione Lobeglitazone was introduced by Glenmark Pharmaceuticals in October 2022 for the treatment of type 2 diabetes in adults. The company has introduced the drug under the trade name LOBG, and it costs about Rs 10 per tablet.
A research partnership between Boehringer Ingelheim and Eli Lilly and the University of Oxford was launched in April 2018 to study Jardiance’s impact on adults with chronic renal disease.
Key Companies Insights
The market for insulin medications is rather cutthroat. Due to the rising prevalence of diabetes and the increasing number of elderly people worldwide, market players are concentrating on introducing unique items to the marketplace.
Wockhardt, SEDICO, Exir, Julphar, Biocon, Eli Lilly, Sanofi Aventis, and Novo Nordisk AS are a few of the major companies in the market for human insulin drugs.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Human Insulin Drug Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Human Insulin Drug Industry Impact
Chapter 2 Global Human Insulin Drug Competition by Types, Applications, and Top Regions and Countries
2.1 Global Human Insulin Drug (Volume and Value) by Type
2.3 Global Human Insulin Drug (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Human Insulin Drug Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Human Insulin Drug Market Analysis
Chapter 6 East Asia Human Insulin Drug Market Analysis
Chapter 7 Europe Human Insulin Drug Market Analysis
Chapter 8 South Asia Human Insulin Drug Market Analysis
Chapter 9 Southeast Asia Human Insulin Drug Market Analysis
Chapter 10 Middle East Human Insulin Drug Market Analysis
Chapter 11 Africa Human Insulin Drug Market Analysis
Chapter 12 Oceania Human Insulin Drug Market Analysis
Chapter 13 South America Human Insulin Drug Market Analysis
Chapter 14 Company Profiles and Key Figures in Human Insulin Drug Business
Chapter 15 Global Human Insulin Drug Market Forecast (2022-2028)
Chapter 16 Conclusions
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