Zion Market Research has published a new report titled “Human Insulin Market by Product (Drug and Drug Delivery Devices) for Type 1 Diabetes, Type 2 Diabetes Application -Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021” According to the report, the global Human Insulin Market accounted for USD 27.00 billion in 2015 and is expected to reach USD 43.6 billion by 2021, growing at a CAGR of around 8.3% between 2016 and 2021.
The global human insulin market is expected to witness significant growth during the forecast period. This growth is attributed due to increasing the risk of diabetes, rising market demand for human insulin analogs, technological advancements in the field of human insulin delivery devices, and favorable medical reimbursements. An insulin regimen is often required in the treatment of gestational diabetes and diabetes-associated with certain conditions or syndromes (e.g.pancreatic diseases, drug- or chemical-induced diabetes, endocrinopathies, insulin-receptor disorders, certain genetic syndromes). In all instances of insulin use, the insulin dosage must be individualized and balanced with medical nutrition therapy and exercise.
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Drugs segment dominated the human insulin market across the globe in 2015 followed by drug delivery device due to its excess demand, rising proportion of aging population in developed countries, growing research & development for drug discovery & development, increasing market accessibility of generic products worldwide, and rising government initiatives.
In terms of drugs, biosimilars drugs were expected to account for the largest market share of the human insulin market in the upcoming forecast period. Demand for biosimilar drugs is strong in both developed and developing countries due to its low-cost therapy. This is driven by the need for the best valuable treatment, which can often be expensive. Biosimilar insulin drug may offer a less-costly alternative to existing human insulin biologics.
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On the basis of drug delivery device, the pens segment is expected to account for the largest market share in 2015 followed by syringe and pen Needle. This growth can be endorsed due to growing market focus of pen manufacturers on emerging countries such as China, India, and Brazil. Insulin pens look similar to oversized ink pens, making them a potentially convenient and discreet way of carrying insulin which makes him one of the demanding factors over the other market.
Key market players of human insulin market include Eli Lilly, GlaxoSmithCline, Biocon, Sanofi-Aventis, Julphar, Novo Nordisk, SemBioSys, Ypsomed AG and Wockhardt.
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