Human Insulin Market size is forecast to reach $27.81 billion by 2025, growing at a CAGR of 5.40% during the forecast period 2020-2025. Insulin is a peptide hormone, secreted in the pancreas by beta cells of the islets of Langerhans, and it helps to regulate glucose metabolism. The rising number of diabetic patients and technological advancements in insulin delivery devices are the major factors driving the growth of the market. The rise in disposable income and increasing awareness about diabetes-related disorders is set to further enhance the overall market demand for human insulin during the forecast period 2020-2025.
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Product – Segment Analysis
The Human Insulin Drugs segment held the largest share in the Human Insulin Market in 2019 and is estimated to grow at a CAGR of 6.09% during the forecast period 2020-2025. Human insulin is in a class of medications called hormones which are used to take the place of insulin that is normally produced by the body. It works by helping move sugar from the blood into other blood tissues where it can be used for energy and stops the liver from producing more sugar. Human insulin drug is used for controlling diabetes during pregnancy which is preferred over oral drugs to reduce blood sugar. Human insulin drugs come in three forms injectable solution, powder for inhalation, and intravenous injection, and the injectable solution is also available in an over the counter form called Novolin R. Human insulin was created by growing insulin proteins in a laboratory within Escherichia coli bacteria. As biologics come from living organisms and they have larger molecules (or mixtures of molecules) and more complex structures than conventional medications. The human insulin drugs are set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025 owing to its usage with a healthy diet and exercise to control high blood sugar in people with type 1 or type 2 diabetes.
Application – Segment Analysis
The Type 2 Diabetes held the largest share in the Human Insulin Market in 2019. Diabetes is a chronic medical condition in which sugar levels build up in the bloodstream. The hormone insulin helps move the glucose from the blood into the cells, where it’s used for energy. Type 2 diabetes can develop slowly with the symptoms of constant hunger, a lack of energy, fatigue, frequent urination, and many more. It is usually diagnosed using the: Glycated hemoglobin test that indicates your average blood sugar level for the past two to three months. Normal levels are below 5.7 percent, and a result between 5.7 and 6.4 percent is taken into account prediabetes. Type 2 Diabetes is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025 owing to the lower risk of complications, such as blindness, kidney diseases, and heart attack or stroke.
Geography – Segment Analysis
North America dominated the Human Insulin Market in 2019 with a share of more than 41.2%, followed by the Asia Pacific owing to the rising prevalence of diabetes. Technological advancements in insulin delivery devices, increasing healthcare expenditure, increasing R&D activities for the development of biosimilar is increasing the growth of the human insulin market in the North America region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the rise in disposable income, many diabetes patients, and increasing awareness about diabetes and diabetes-related disorders.
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Drivers – Human Insulin Market
The rising number of diabetic patients and technological advancements in insulin delivery devices is increasing the growth of the human insulin market. Diabetes is a disease that occurs when blood glucose is too high. Blood glucose is the main source of energy that comes from the food that one eats. Insulin, a hormone made by the pancreas, helps glucose from food get into the cells to be used for energy. Diabetes is set to be a chronic condition related to abnormally high levels of sugar within the blood. Insulin produced by the pancreas lowers blood glucose. Absence or insufficient production of insulin use insulin causes diabetes. Emerging technologies for improved care of patients with diabetes include new methods for monitoring glucose, including non-invasive, minimally invasive, continuous, and alternate site measurement technologies; new methods for integrating glucose values and insulin dosages, known as the artificial pancreas; and new routes of insulin administration, including inhaled, oral, buccal, nasal, and transdermal drug delivery systems. These new technologies are set to facilitate the proper treatment of diabetes and improve the lives of affected patients. Thus, increasing the growth of the human insulin market during the forecast period 2020-2025.
The rise in disposable income and increasing awareness about diabetes-related disorders is increasing the growth of the human insulin market. Diabetes occurs when the pancreas, a gland behind the stomach, doesn’t produce enough of the hormone insulin, or the body can’t use insulin properly. Insulin helps carry sugar from the bloodstream into the cells. Diabetes can be effectively managed when caught early. However, when left untreated, it can cause potential complications that include heart condition, stroke, kidney damage, and nerve damage. There are several conditions associated with diabetes which include coeliac disease, thyroid disease, and hemochromatosis. Thus, increasing the growth of the human insulin market during the forecast period 2020-2025.
Challenges – Human Insulin Market
Some of the factors that can impede the growth of the Human Insulin Market are the cost of production, manufacturing complexities, critical regulations requirement, uneven pricing. Maintaining the safety and security of patients while using infusion devices are the major challenges for the human insulin market.
Human Insulin Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Human Insulin Market. In 2019, the Human Insulin Market share is consolidated by the top ten players present in the market. Virus Human Insulin, the top 10 companies are B. Braun Melsungen AG, Becton, Dickinson and Company, Eli Lilly and Company, Novo Nordisk A/S, Medtronic PLC, Gulf Pharmaceutical Industries, Wockhardt, GSK, and symbiosis.
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