360 MARKET UPDATES Report provides a 360-degree overview of the global Human Insulin Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Human Insulin Market – Growth, Trends, and Forecast (2019 – 2024)“
Human Insulin Market Report (2019 – 2024) Provides the Leading Manufactures of Human Insulin market, market overview, scope of the market and Reasons to purchase this report. Also Report provides a 360-degree overview of the global Human Insulin market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
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Human Insulin Market Report Covers Leading Manufacturers: Novo Nordisk AS , Sanofi Aventis , Eli Lilly , Biocon , Pfizer , Julphar , Exir , Sedico , Wockhardt
The Human Insulin Market Overview:
The global human insulin market is expected to register a CAGR of 4.93% during the forecast period of 2019 – 2024 and is estimated to reach USD 25.7 billion by 2019.
Diabetes is generally considered as a lifestyle-related disease. Over time, incidences of the disease have increased outrageously, with the increase in population around the world.
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.
Although insulin has been used in the treatment of diabetes for over 90 years, globally, more than half of those who need insulin today still 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.
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123 – Growing Obesity and Diabetes Prevalence of Type 2, Especially in Developing Countries
The exact cause of Type 1 diabetes is unknown, but Type 2 diabetes is caused by lifestyle changes happening daily. The prevalence rate of Type 2 diabetes has quadrupled, when compared to 40 years ago. Although oral drugs are considered as a standard care treatment for Type 2 patients, there has been a rise in the need for using insulin, along with the conventional medication, in order to help stabilize blood glucose levels. This trend has attracted many players, both local and international, to enter into the biosimilar market.
The prevalence of Type 2 diabetes mellitus (T2DM) has increased dramatically during the last two decades, a fact driven by the increased prevalence of obesity and the primary risk factor for T2DM. Diabetes ranks among the fast-growing chronic diseases in the United States.
India is among the top three countries with a high incidence of diabetes. Many reports and surveys have documented a drastic increase in the diabetic population based on lifestyle habits. Significant urbanization has enabled physical inactivity and diabetes is a major health concern.
The R&D in the insulin segments are rising year-on-year, as researchers are trying to bring out the best molecule for patients use, curbing out maximum side effects and increasing their efficiency. Thus, the increasing prevalence of obesity and diabetes across the world is likely to augment considerable demand for insulin, which may drive the global market for insulin therapeutics.
North America Dominates the Market
North America dominates the global human insulin market, especially the United States, owing to the high prevalence of diabetes in the region, because of a sedentary lifestyle and launch of new drugs in the region.
The cost factor is the major concern in the United States, where almost 50% of the insulin revenues for the manufacturers are from the country itself.
Asia-Pacific is expected to grow tremendously during the forecast period, owing to factors, such as high prevalence of obesity and rising awareness regarding diabetes care in the region.
The Scope of Human Insulin Market:
The market is segmented by product type (basal or long-acting insulins, bolus or fast-acting insulins, traditional human insulins, combination insulins, and biosimilar insulins) and geography.
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