Human Insulin Market Research Report 2023
Human Insulin Market Size By Product Type (Short-Acting, Intermediate-Acting, Long-Acting, Rapid-Acting, Premixed), By Method (Injections, Pumps, Inhalable), By End User (Hospitals & Clinics, Retail Pharmacies, Online Pharmacies, Diabetes Clinics), By Sale Channel (Online, Offline) And Region Global Market Analysis And Forecast, 2023-2030
Human Insulin Market Synopsis
The Global Human Insulin Market Size Was Valued at USD 1.94 Billion in 2022 and is Projected to Reach USD 2.84 Billion by 2030, Growing at a CAGR of 4.9% From 2023-2030.
Human insulin is a hormone that closely resembles the insulin naturally produced in the human body. It plays a vital role in regulating the levels of glucose (sugar) in the blood. In individuals with diabetes, either the pancreas does not produce enough insulin (Type 1 diabetes) or the body cannot effectively use the insulin it produces (Type 2 diabetes). As a result, people with diabetes require insulin therapy to manage their blood sugar levels.
- To fulfil the need for insulin, the production of human insulin relies on a technique known as recombinant DNA technology. This method involves the insertion of the insulin-producing gene into host organisms, such as bacteria or yeast. These organisms are then capable of producing large quantities of human insulin. Subsequently, the insulin is purified and processed into various formulations, including short-acting, intermediate-acting, and long-acting insulin variants.
- Human insulin can be administered through various methods, including injections using syringes or pens, insulin pumps, and inhalation. These options provide flexibility for individuals with diabetes to choose the delivery method that suits them best.
- By effectively managing blood sugar levels, human insulin helps mitigate the risks of complications linked to imbalances, including cardiovascular issues, nerve damage, and organ damage. Its role in maintaining stable blood sugar levels is essential for overall health and well-being in individuals with diabetes.
- Human insulin is an essential therapy for individuals living with diabetes as it plays a vital role in effectively managing blood sugar levels and mitigating the risk of complications associated with the condition. It is a critical component in diabetes management that helps ensure better health outcomes for those who depend on it.
Source: International Diabetes Federation
As shown in the graph 537 million adults (20-79 years) are living with diabetes - 1 in 10. APAC has the highest 296 million patients and Europe has the lowest 61 million patients.
Top Key Players Involved Are:
"Novo Nordisk (Denmark), Eli Lilly and Company (US), Sanofi (France), Merck & Co. Inc. (US), Pfizer Inc. (US), Biocon Limited (India), Ypsomed AG (Switzerland), Wockhardt Ltd. (India), Gan & Lee Pharmaceuticals (China), Julphar (UAE), Bristol-Myers Squibb (US), Takeda Pharmaceutical Company Limited (Japan), Biodel Inc. (US), Oramed Pharmaceuticals Inc. (US), Adocia (France), Tonghua Dongbao Pharmaceutical Co. Ltd. (China), Bioton S.A. (Poland), Torrent Pharmaceuticals Ltd. (India), Lupin Limited (India), B. Braun Melsungen AG (Germany) and Other Major Key Players."
The Human Insulin Market Trend Analysis
Rising Prevalence of Diabetes
- The human insulin market is witnessing remarkable expansion driven by the escalating worldwide prevalence of diabetes, including both type 1 and type 2 diabetes. The steady growth in diabetes cases can be attributed to factors such as sedentary lifestyles, unhealthy dietary habits, obesity, and genetic predisposition.
- For individuals with type 1 diabetes, who do not produce insulin naturally, insulin therapy is indispensable. Moreover, as type 2 diabetes advances and oral medications or non-insulin injectables become inadequate in controlling blood sugar effectively, many individuals may eventually require insulin treatment.
- In response to the increasing demand, manufacturers of human insulin consistently innovate and offer a wide range of insulin options with varying durations of action and delivery methods. These developments are aimed at meeting the diverse needs of patients, enhancing the effectiveness of insulin therapy, and improving convenience.
Development of Biosimilar Insulin
- Biosimilars are biological medicines that are very similar to an already approved biological reference medicine. For biosimilar insulin, these products aim to mimic the structure, function and clinical efficacy of existing branded insulin products.
- The availability of biosimilars offers health systems, insurance companies and patients more affordable alternatives to insulin therapy. This can help reduce the financial burden of managing diabetes and improve access to treatment.
- Furthermore, biosimilar insulin increases treatment options and flexibility for healthcare providers and patients. With a wider range of products, healthcare professionals can choose the most appropriate insulin therapy based on the patient's individual needs, preferences and affordability.
- Regulatory agencies require extensive comparative studies to show biosimilars are similar to the reference product. This rigorous approval process ensures that patients can be confident in the safety and efficacy of biosimilar insulin products.
Segmentation Analysis Of The Human Insulin Market
Human Insulin market segments cover the Product Type, Method, End User & Sale Channel. By Type, the Rapid-Acting segment is Anticipated to Dominate the Market Over the Forecast period.
- Rapid-acting human insulin is a type of insulin designed to mimic the natural insulin response after a meal. It is characterized by rapid action and a shorter duration compared to regular human insulin. Diabetics usually use rapid-acting insulin to control postprandial blood sugar levels.
- Rapid-acting insulin analogs have several advantages over regular human insulin. They offer more flexibility in dosing because they can be injected just before or after a meal. This allows for more accurate timing of insulin and better matches the release of insulin with the rise in blood sugar. Rapid-acting insulin analogs also have a lower risk of hypoglycemia (low blood sugar) because of their faster onset of action.
- Rapid-acting insulin is usually given as subcutaneous injections using an insulin syringe, insulin pen, or insulin pump. The choice of delivery method depends on the preferences of the person and the recommendation of the health care provider.
Regional Analysis of The Human Insulin Market
North America is Expected to Dominate the Market Over the Forecast Period.
- Driving factors behind the North American human insulin market include the rising prevalence of diabetes, the presence of advanced healthcare facilities, and a strong focus on diabetes management and treatment.
- North America offers a diverse range of human insulin products, including various insulin analogs with different durations of action, formulations, and delivery methods. This variety allows healthcare professionals and patients to select the most suitable options based on individual needs and preferences.
- However, challenges exist within the North American human insulin market, particularly concerning the high cost of insulin. Efforts are being made to address affordability and improve access through initiatives like price transparency and patient assistance programs.
- The human insulin market in North America stands out for its focus on innovation, high-quality healthcare services, and a strong dedication to enhancing diabetes management. The region continues to be at the forefront of advancements in insulin therapies, ensuring that individuals with diabetes have access to effective treatments that enable them to maintain optimal blood sugar levels and enhance their overall well-being.
Covid-19 Impact Analysis On Human Insulin Market
- The disruptions in the global supply chain caused by lockdown measures and trade restrictions have resulted in delays and shortages of insulin products. This has created challenges for individuals who rely on insulin therapy, as the availability of these essential medications has been affected.
- Reduced incomes and strained healthcare budgets have made it difficult for some patients to afford and access their necessary insulin treatments. This has further exacerbated the impact on the human insulin market.
- The diversion of healthcare resources to manage the COVID-19 crisis has impacted routine healthcare services, including diabetes care. The focus on COVID-19 has led to reduced capacity for diabetes management, including insulin therapy. This has resulted in challenges for patients in receiving timely and adequate care.
- In summary, the negative impact of the COVID-19 pandemic on the human insulin market can be attributed to supply chain disruptions, financial constraints, reduced healthcare capacity, and psychological factors. Addressing these challenges is crucial to ensure the continued availability and accessibility of insulin for individuals with diabetes during these unprecedented times.
Top Key Players Covered in The Human Insulin Market
- Novo Nordisk (Denmark)
- Eli Lilly and Company (US)
- Sanofi (France)
- Merck & Co. Inc. (US)
- Pfizer Inc. (US)
- Biocon Limited (India)
- Ypsomed AG (Switzerland)
- Wockhardt Ltd. (India)
- Gan & Lee Pharmaceuticals (China)
- Julphar (UAE)
- Bristol-Myers Squibb (US)
- Takeda Pharmaceutical Company Limited (Japan)
- Biodel Inc. (US)
- Oramed Pharmaceuticals Inc. (US)
- Adocia (France)
- Tonghua Dongbao Pharmaceutical Co. Ltd. (China)
- Bioton S.A. (Poland)
- Torrent Pharmaceuticals Ltd. (India)
- Lupin Limited (India)
- Braun Melsungen AG (Germany) and Other Major Players
Key Industry Developments in the Human Insulin Market
In March 2023, Pfizer Inc. & Seagen Inc. announced that they have entered into a definitive merger agreement under which Pfizer will acquire Seagen, a global biotechnology company that discovers, develops and commercializes transformative cancer medicines, for $229 in cash per Seagen share for a total enterprise value of $43 billion.
In May 2023, Global pharma major Lupin Limited (Lupin) announced a strategic collaboration with Enzene Biosciences to launch Cetuximab in India, the first biosimilar developed for Cetuximab. This collaboration marks a significant milestone in expanding therapeutic options and fostering innovation in the critical area of treatment of head and neck cancer.
|
Global Human Insulin Market |
|||
|
Base Year: |
2022 |
Forecast Period: |
2023-2030 |
|
Historical Data: |
2016 to 2022 |
Market Size in 2022: |
USD 43000 Mn. |
|
Forecast Period 2023-30 CAGR: |
7.90% |
Market Size in 2030: |
USD 79100 Mn. |
|
Segments Covered: |
By Product Type |
|
|
|
By Method |
|
||
|
By End Users |
|
||
|
By Sales Channel |
|
||
|
By Region |
|
||
|
Global Human Insulin Market |
|||
|
Base Year: |
2022 |
Forecast Period: |
2023-2030 |
|
Historical Data: |
2016 to 2022 |
Market Size in 2022: |
USD 1.94 Bn. |
|
Forecast Period 2023-30 CAGR: |
4.9% |
Market Size in 2030: |
USD 2.84 Bn. |
|
Segments Covered: |
By Product Type |
|
|
|
By Method |
|
||
|
By End Users |
|
||
|
By Sales Channel |
|
||
|
By Region |
|
||
|
Key Market Drivers: |
|
||
|
Key Market Restraints: |
|
||
|
Key Opportunities: |
|
||
|
Companies Covered in the report: |
|
||
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Product Type
3.2 By Method
3.3 By End User
3.4 By Sale Channel
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5
Frequently Asked Questions
What would be the forecast period in the Human Insulin Market research report?
The forecast period in the Human Insulin Market research report is 2023-2030.
Who are the key players in Human Insulin Market?
Novo Nordisk (Denmark), Eli Lilly and Company (US), Sanofi (France), Merck & Co. Inc. (US), Pfizer Inc. (US), Biocon Limited (India), Ypsomed AG (Switzerland), Wockhardt Ltd. (India), Gan & Lee Pharmaceuticals (China), Julphar (UAE), Bristol-Myers Squibb (US), Takeda Pharmaceutical Company Limited (Japan), Biodel Inc. (US), Oramed Pharmaceuticals Inc. (US), Adocia (France), Tonghua Dongbao Pharmaceutical Co. Ltd. (China), Bioton S.A. (Poland), Torrent Pharmaceuticals Ltd. (India), Lupin Limited (India), B. Braun Melsungen AG (Germany) And Other Major Players.
What are the segments of the Human Insulin Market?
The Human Insulin Market Is Segmented Into Type, Method, End User, Sale Channel And Region. By Type, The Market Is Categorized Into Short-Acting, Intermediate-Acting, Long-Acting, Rapid-Acting, & Premixed. By Method, The Market Is Categorized Into Injections, Pumps, And Inhalable. By End User, The Market Is Categorized Into Hospitals & Clinics, Retail Pharmacies, Online Pharmacies, And Diabetes Clinics. By Sales Channel, The Market Is Categorized Into Online & Offline. By Region, It Is Analyzed Across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest Of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest Of Western Europe), Asia Pacific (China; India; Japan; South Korea; Malaysia; Thailand; Vietnam; The Philippines; Australia; New-Zealand; Rest Of APAC), Middle East & Africa (Turkey; Bahrain; Kuwait; Saudi Arabia; Qatar; UAE; Israel; South Africa), South America (Brazil; Argentina; Rest Of SA)
What is the Human Insulin Market?
Human insulin is a hormone that closely resembles the insulin naturally produced in the human body. It plays a vital role in regulating the levels of glucose (sugar) in the blood. In individuals with diabetes, either the pancreas does not produce enough insulin (Type 1 diabetes) or the body cannot effectively use the insulin it produces (Type 2 diabetes). As a result, people with diabetes require insulin therapy to manage their blood sugar levels.
How big is the Human Insulin Market?
The Global Human Insulin Market Size Was Valued at USD 1.94 Billion in 2022 and is Projected to Reach USD 2.84 Billion by 2030, Growing at a CAGR of 4.9% From 2023-2030.
