The global human insulin market is expected to reach US$ 30.1 billion by 2028; growing at a CAGR of 3.9% from 2021 to 2028. Insulin is a protein chain or peptide hormone which plays a vital role in the controlling of blood sugar levels. Insulin also helps to maintain glucose level in the liver, fat and muscles. A balanced insulin level in human body is very important as it may cause serious issues like diabetes. If the Insulin does not function in an appropriate manner, our body is unable to store glucose in our muscles or liver and the fat breaks down giving rise to keto acids which is harmful to our body. If the levels of these acids increase, the imbalance can trigger diabetic ketoacidosis, a potentially fatal condition.
Along with time, incidences of the disease have increased a lot, increase in population is also an important factor; thereby marking hike in the growth of the global human insulin market. Diabetes is of two types. Type 1 & Type 2. Type 1 diabetic patients are not able to produce insulin or produce less amount of insulin therefore, diabetic patients are advised to take injections to maintain blood sugar level. In contrast, Type 2 diabetic patients make an insufficient amount of insulin or do not respond to insulin and thus need medicines to maintain their blood glucose levels. In some cases, doctor advices Type 2 patients to take Insulin. About 7.4 million people in the United States with diabetes use insulin treatment. If the body produces less insulin it can lead to diabetic ketoacidosis, coma, and death. It is especially life-threatening for people with Type 1 diabetes, who require Insulin to survive. Approximately 100 million people around the world need insulin, including all the people suffering from Type 1 Diabetes and between 10-25% of people with Type 2 diabetes. Insulin has been used in the treatment of diabetes for over 90 years, globally, but still half of the needy people cannot afford and access it. People with Type 1 diabetes need insulin therapy, which focuses on managing blood sugar levels, along with insulin, diet, and lifestyle, in order to prevent complications.
The R&D in the insulin segments are rising year-on-year, as researchers are trying to bring out the best composition for patients' use, thereby reducing side effects, and increasing their efficiency. Thus, the increasing in obesity and diabetes across the world is likely to increase demand for insulin, which boosts the global human insulin market.
The global human insulin market is segmented by Product, by Product type, and by Region. On the basis of product, the global human insulin market is classified into two major segments – drugs and delivery devices. Among by products segment, human insulin drugs segment is expected to account for the largest share of the global market, by product, in 2015. Its large share is propelled by factors such as increasing diabetic population across globe, growing R&D for drug discovery & development, rising proportion of aging population in developed countries, increasing market accessibility of generic human insulin products worldwide, and rising government initiatives to support the development and commercialization of effective biosimilars. On the basis of product type, the human insulin delivery devices segment is classified into three sub-types-pens, pen needles, and syringes. The pens segment is expected to be the widely used type because of its easy application and satisfactory results especially in countries like China, India, & Brazil.
By region the global Human Insulin market is bifurcated into four regions-North America, Europe, Asia-Pacific and EMEA. The North America is further classified into U.S., Canada and Mexico. Europe is further segmented into Germany, U.K., France, rest of Europe. Asia-Pacific is segmented into China, Japan, India, rest of APAC. Currently, North America dominates the global human insulin market. Asia-Pacific is also growing faster because of the growth in the number of the patients in the APAC region. Geography expansion and product development are the key strategies adopted by major players to strengthen their positions in the global market. Strategies such as partnerships, agreements, collaborations, awareness campaigns, and research funding & grants were also adopted by a significant number of market players to strengthen their positions and expand their distribution networks in the global Human Insulin market.
Some of the prominent players in the global human insulin market are Sanofi (France), Novo Nordisk A/S (Denmark), Eli Lilly and Company (U.S.), Biocon Ltd. (India), Julphar (U.A.E.), Ypsomed AG (Switzerland), Becton, Dickinson and Company (U.S.), Wockhardt Ltd. (India), B. Braun Meselgen AG (Switzerland), and Biodel Inc. (U.S.) among others.
Market Segmentation and Scope of Global Human Insulin Market