“Human Insulin Market to Reach Valuation of USD 26.9 Billion by 2028 –Increased Launch of Novel Human Insulin Products Drives the Market”

In terms of revenue, the Global Human Insulin Market is expected to reach USD 26.9 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.00% from 2022 to 2028.

A significant lifestyle-related disease called diabetes has impacted a huge population all over the world. As the world's population continues to grow, the disorder's burden increases. Around 100 million individuals globally, including those with Type 1 diabetes, need insulin, and between 15 and 30 percent of those patients have Type 2 diabetes.

Although insulin is the primary method of treatment for diabetes, the majority of people who need it still cannot afford it or have easy access to it. The high cost of insulin analogs continues to be a major barrier to market expansion. Additionally, diabetic people must take insulin supplements on a regular basis for the rest of their lives, which is a significant financial burden.

Key Developments in the Industry:

· The FDA approved the new t:connect mobile app from Tandem Diabetes Care in 2022. The San Diego-based creator of diabetic technology claims that the app aids in managing bolus insulin doses. Patients who use the t:slim X2 insulin pump will have access to the app to cancel or schedule bolus requests, which provide an extra dosage of rapid-acting or short-acting insulin during meals to check blood sugar levels.

· For the development and commercialization of a wide range of insulin and biosimilar products, including Human Insulin, aspart; insulin glargine; bevacizumab; trastuzumab; and in-licensed products adalimumab; pegfilgrastim; and etanercept, Biocon has partnered with Viatris (previously known as Mylan) in 2022.

· The U.S. Food and Drug Administration (FDA) authorised an enhanced label for Lyumjev® (insulin lispro-AABC injectable) 100 units/mL, a rapid-acting insulin from Eli Lilly and Company, in August 2021. It is recommended to help adults with type 1 and type 2 diabetes better regulate their blood sugar levels.

Market Dynamics:

Obese and elderly populations are more prone to chronic illnesses. The senior population worldwide was estimated by the World Bank Group to be over 727 million in 2020. Over the next three decades, this population is projected to quadruple, reaching almost 1.5 billion in 2050.

Another significant aspect influencing the expansion of space is developments in the formulation. For instance, Fiasp (Novo Nordisk) is a mixture of niacinamide (Vitamin-B3) and insulin aspart that can enhance the drug's early absorption. In addition, the only inhaled medication on the market that doesn't require syringes or needles is Afrezza (Mannkind). Phase 3 clinical studies are also being conducted for the oral insulin capsule made by Oramed Pharmaceuticals. By Q4 2023, the business intends to submit the BLA. The successful introduction of this product may provide patients with another choice. New developments in the industry are therefore predicted to boost market expansion.

Insulin's high price can hamper the growth of the market. Leading companies with patent protection for their products include Eli Lilly and Company, Novo Nordisk A/S, and Sanofi. To improve its position, Sanofi, for instance, submitted 74 patent applications for Admelog. These corporations control more than 90% of the world market. Biosimilar players are, therefore, insignificant in this market. Thus, this can prevent market expansion.

During the forecast period, the Human Insulin market in North Americais anticipated to develop at the quickest rate.This is because of things like the rising elderly population and the rising prevalence of diabetes in the area. Also, In 2020, the CDC estimated that 37.3 million Americans had diabetes, of whom 28.7 million had been diagnosed, and 8.5 million had not.

Additionally, 96 million adults age 18 and older have prediabetes. Novo Nordisk A/S, Eli Lilly and Company, and Sanofi are a few of the main companies that are currently active in this area. However, Semglee and Rezvoglar, two new insulin biosimilars from Mylan/Biocon and Eli Lilly and Company, respectively, have received FDA approval in the United States. The introduction of these biosimilars is anticipated to lower insulin's cost on the North Americamarket and increase competitiveness.

The Global Human Insulin Market is Segmented as follows:

• Product
  • Drugs
  • Delivery Devices
• Product Type
  • Insulin Analoys & Biosimilars
  • Human Insulin Biologics
• Diabetes Type
  • Diabetes 1
  • Diabetes 2
• Delivery Devices
  • Pens
  • Pen Needles
  • Syringes
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Human Insulin Market is:

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)

The Global Human Insulin Market Scope can be Tabulated as below: