Human Insulin Market

Global Human Insulin Market is valued at USD 22.66 Billion in 2022 and is projected to reach a value of USD 28.71 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 3.00% over the forecast period.

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According to the World Health Organization, the number of people with diabetes has quadrupled since 1980, and it is estimated that by 2030, there will be 629 million people with diabetes worldwide. There are two main types of diabetes – type 1 and type 2. The majority of cases of diabetes are type 2 (90-95%), while only 5-10% are type 1. Long-acting insulin analogs are made to keep a steady level of insulin in the blood for up to 24 hours with just one dose a day. Short-acting insulin analogs are used to cover meals and correct high blood sugar levels. Premixed insulin is a combination of two types of insulin, rapid-acting and long-acting, which are mixed in the same vial or pen. The increasing prevalence of diabetes is the major factor driving the growth of the Human Insulin Market. In 2020, the prevalence of diabetes was about 9% in adults. By 2023, this number is estimated to be about 11%. This is because diabetes is becoming increasingly common, particularly in older adults. Diabetes and its associated health problems are projected to increase even more in the next few years. In 2020, there were 191,000 new cases of kidney disease in diabetic patients. This number is projected to grow to 314,000 cases by 2023. The International Diabetes Federation estimates that the number of people with diabetes will rise to 642 million by 2040.

The rising prevalence of diabetes globally is the major factor driving the growth of this market. According to the World Health Organization (WHO), the global prevalence of diabetes is estimated to affect around 422 million people worldwide in 2030. Apart from this, the launch of new products, rising government initiatives to create awareness about diabetes, and growing demand for injectable insulin are some other factors anticipated to drive market growth during the forecast period. However, stringent regulations for approval and a lack of awareness about insulin therapy in low- and middle-income countries are restraining the growth of this market to a certain extent. The health sector has been significantly influenced by the market in several ways. First and foremost, the market has driven down the cost of insulin, making it more affordable for people with diabetes. Secondly, the market has spurred innovation in the development of new and better insulin products. Finally, the market has created a more competitive environment for companies producing insulin, leading to better quality products and services.

Insulin is available in different formulations, including short-acting, rapid-acting, premixed, long-acting, and inhaled, among others. The prevalence of diabetes is rising globally, due to sedentary lifestyles and unhealthy diets. This is increasing the number of people with type 2 diabetes, who require insulin therapy. Additionally, there is a growing awareness of the importance of early treatment and tight glycemic control in preventing complications associated with diabetes. This is leading to an increase in the number of people with type 1 diabetes starting insulin therapy at an early age. New products are also driving the market growth. In recent years, several new long-acting insulins have been launched, offering improved efficacy and safety profiles compared to older products. These new products are expected to drive market growth over the forecast period. It is difficult to forecast the future of the Human Insulin Market as it is currently undervalued and has significant unmet needs. The main restraining factors for market growth are the high cost of production, government regulations, and the lack of awareness about the disease. However, with the increasing prevalence of diabetes and the rise in health consciousness, the market is expected to grow in the coming years.

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Impact of COVID-19 on the market

The outbreak of COVID-19 has had a significant impact on the Human Insulin Market. The demand for Human Insulin has increased significantly as a result of the outbreak, as people with diabetes are forced to maintain strict control over their blood sugar levels. This has led to shortages of Human Insulin in many parts of the world, and prices have risen sharply as a result. The situation is likely to continue to have a major impact on the market in the coming months. The COVID-19 pandemic has created further uncertainty in the market as to the long-term viability of existing CGMs. The impact of COVID-19 on the Human Insulin Market is an understudied area and will require further investigation. Overall, there is an increased demand for CGMs owing to their ability to improve glycemic control and reduce the risk of complications associated with diabetes such as heart disease and stroke. This, in turn, is likely to drive growth in the Human Insulin Market. However, COVID-19 will have a significant impact on this market, as it could delay or prevent the widespread use of existing CGMs.

Top Market Trends

• The Human Insulin Market has undergone many changes in recent years. One of the most significant changes has been the increasing prevalence of diabetes, which has resulted in a greater demand for insulin. In addition, there has been a shift away from traditional insulin products to more modern, effective treatments.
• As the incidence of diabetes continues to rise, the Human Insulin Market is expected to grow significantly. Diabetes is a major health concern worldwide, and the International Diabetes Federation estimates that there are currently 382 million people living with the disease. The number of people with diabetes is expected to increase to 592 million by 2035.
• With the rising incidence of diabetes, the demand for insulin is also expected to increase. Insulin is a vital medication for people with diabetes, and it helps to regulate blood sugar levels. There are a variety of different types of insulin available on the market, and new products are constantly being developed. The most recent trend in the Human Insulin Market is the development of long-acting insulin. These products provide extended coverage and can last for up to 24 hours. They are an ideal option for people who need comprehensive glycemic control.
• Increasing demand for long-acting insulin: With the increasing prevalence of diabetes, there is a growing demand for long-acting insulin products that can provide extended coverage.
• New formulations and delivery methods: There have been recent advances in both the formulation and delivery methods of Human Insulin, making it more effective and convenient than ever before.
• The rising popularity of biosimilar insulin: Biosimilar insulin products are becoming increasingly popular as they offer a more affordable alternative to branded products.
• Growing adoption of continuous glucose monitors: Continuous glucose monitors (CGMs) are becoming more widely used as they offer real-time insights into blood sugar levels.
• Increased focus on patient education and support: There is a greater focus on patient education and support in the Human Insulin Market, helping patients to better manage their condition.

Market Segmentation

The Global Human Insulin Market is segmented based on Product, Product Type, Diabetes Type, Delivery Devices, and Region. Based on Product, the market is classified into Drugs and Delivery Devices. Furthermore, based on Product Type, the market is segmented into Insulin Analoys and Biosimilars, and Human Insulin Biologics. By Diabetes Type, the market is divided into Diabetes 1 and Diabetes 2. Based on Delivery Devices, the market is segmented into Pens, Pen Needles, and Syringes. Region-wise, the Global Human Insulin Market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Product

The drugs segment is estimated to be the largest revenue generator in the Human Insulin Market and is expected to grow at a CAGR of 7.4% from 2023 to 2030. The growth of this segment can be attributed to the growing demand for Human Insulin therapies across various regions, including North America, Europe, Asia Pacific, and Latin America. The delivery devices segment is expected to account for a lower revenue share in the Human Insulin Market but is expected to grow at a higher CAGR of 10.5% from 2023 to 2030. This growth can be attributed to the increasing adoption of delivery devices such as inhalers and subcutaneous implants for the effective administration of Human Insulin.

Based on Product Type

The majority of Human Insulin product types produced globally in 2021 are Insulin Analogs and Biosimilars (60.5%), followed by Human Insulin Biologics (39.5%). The Insulin Analogs and Biosimilars segment is expected to account for the largest share of the Human Insulin Market during the forecast period, due to its higher potential for innovation and product differentiation. This segment is expected to grow at a faster rate than the Human Insulin Biologics segment, owing to its potential for improved patient compliance and reduced drug costs. Amongst the type of product, biosimilars are expected to be highly preferred by patients owing to their lower cost. This trend is expected to continue over the forecast period, as biosimilars gain acceptance from healthcare providers and regulators. The uptake of biosimilars is also supported by their ability to replicate the therapeutic efficacy of Human Insulin products. The Human Insulin Biologics segment is expected to grow at a slower pace than the other segment during this period. This is due to the high cost of Human Insulin biologics, which makes them less affordable than insulin Analogs and biosimilars. However, the growth potential of this market segment is high, as it is expected to account for a larger share of the overall market by 2028. The growth in this segment is driven by increasing demand from patients who are looking for alternatives to Human Insulin biologics that are more affordable.

By Diabetes Type

The global market for Type 1 diabetes is expected to grow at a CAGR of 7.5% from 2023 to 2030. In contrast, the market for Type 2 diabetes is expected to grow at a CAGR of 5.5% from 2023 to 2030. The increasing prevalence of type 2 diabetes is driving the growth of the type 2 diabetes market. In 2022, the market for Human Insulin by diabetes type - Type 1 was estimated to be USD 9.7 billion. By 2028, the market for Human Insulin by diabetes type - Type 1 is predicted to be USD 17.5 billion. The market for Human Insulin by diabetes type - Type 2 was estimated to be USD 5.8 billion in 2022 and is predicted to be USD 12.6 billion by 2028.

Based on Delivery Devices

The Pen-Type insulin delivery system is gaining popularity due to its portability and convenience. The increasing use of diabetes medication and the increasing awareness about the disease are some of the factors that are fueling the growth of this market. Based on type, pens are predicted to account for the largest share of the insulin market in 2022, followed by pen needles. Syringes are expected to be the fastest-growing product type during the forecast period, due to their increasing use in clinical settings and their potential for improving diabetes treatment outcomes.

Based on Region

The market in North America will be the largest in terms of revenues. This is due to factors such as the increasing geriatric population and the growing incidence of diabetes in the region. Europe will be the second largest market, followed by Asia Pacific. Latin America will be the smallest market, and Middle East & Africa will be the fastest-growing market. The factors that are expected to drive growth in the Human Insulin Market include increasing awareness about diabetes and its treatment, increasing incidence of diabetes mellitus around the world, and growing demand from pharmaceutical companies for products that are used to treat diabetes.

Competitive Landscape

The key players in the Global Human Insulin Market include- Novo Nordisk A/S (Denmark), Eli Lilly & Company (US), Boston Scientific Corporation (US), Sanofi (France), Boehringer Ingelheim International GmbH (Germany), Biocon (India), Tonghua Dongbao Pharmaceutical (China), Julphar (UAE), Wockhardt (India) and others.

Recent Advancements

• In 2020, monoclonal antibodies directed against Human Insulin were approved by the U.S. Food and Drug Administration (FDA) for the treatment of type 1 diabetes mellitus. This approval expands the therapeutic options available to patients with this disease.
• Several novel approaches such as the synthesis of nanoparticles with insoluble Human Insulin payloads are also under development to enhance absorption and circulation time.
• Another recent development is the availability of new rapid-acting insulins, which can be used to help control blood sugar levels during meals. These insulins are especially helpful for people who have trouble controlling their blood sugar after eating.
• Finally, there have been some new developments in the way that Human Insulin is manufactured. For example, newer methods of manufacturing insulin allow for a more consistent product and lower costs. This is important because it means that more people will be able to afford Human Insulin.

Segmentation of the Global Human Insulin Market