Human Insulin Market - Scenario —
The global human insulin market is presumed to garner $25 billion during the forecast period (2016-2021). The market is anticipated to register 10-12 % CAGR during the forecast period (2016-2021) owing to the prevalence of diabetic population, asserts Market Research Future (MRFR). Also known as synthetic insulin, human insulin is prepared in the laboratory and possesses the same characteristics as natural insulin. Human insulin is prescribed by the physicians to treat diabetes as it helps to control the absorb the carbohydrate and fat in the body.
Drivers and Constraints Impacting the Market
With the growing prevalence of diabetic population, the global market for human insulin is considered to impact the global human insulin market positively. The rise in geriatric population along with the growing prevalence of obesity are some of the other factors contributing to the market growth during the assessment period. Change in lifestyles and inadequate health care services are also augmenting the market growth. Moreover, favorable government policies coupled with technological advancements such as innovation of insulin pens have also augmented the growth of this market during the review period.
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On the flip side, the high cost of analog coupled with stringent regulatory requirements for the approval of insulin is presumed to retard the market growth in the coming years.
The major players operating the global human insulin market are Julphar (UAE), Tonghua Dongbao Pharmaceuticals Co. Ltd. (China), Adocia (France.), Merck & Co. (U.S.), Oramed Pharmaceuticals Inc. (Israel), Bristol-Myers Squibb Company (U.S.), GlaxoSmithKline Plc (U.K.), Biocon Ltd. (India), Novo Nordisk A/S (Denmark), and others.
With the combined work of cell and structural biology experts along with an insulin receptor specialist and cryo-electron microscopy specialists, the first 3-D image of how insulin communicates with cells in the body was produced. It has been recently published in the Nature Communications journal.
Global Human Insulin Market: Segmental Analysis
The human insulin market has been segmented on the basis of type, product, and region.
By mode of type, the global human insulin market has been segmented into traditional human insulin and modern human insulin. The modern human insulin is further sub-segmented into rapid-acting human insulin, long-acting human insulin, and premixed human insulin. The traditional human insulin is further sub-segmented into intermediate-acting human insulin and short-acting human insulin. The short-acting human insulin is also known as regular insulin. This segment covers the largest market share owing to its adjustability and slows acting with the human body.
On the basis of products, the human insulin market has been segmented into drugs and delivery devices. Drug type has been further sub-segmented into intermediate-acting, rapid-acting, long-acting, premixed, and short-acting. Delivery devices have been further sub-segmented into insulin pens, pen needles, and conventional syringes.
Geographically, the human insulin market span across regions namely, North America, Asia Pacific, Europe, and Rest-of-the-World (RoW).
Among all the regions, North America is presumed to hold the largest share in the market and is expected to maintain its dominance over the review period. The growth in this region is attributed to the rising prevalence of obesity and diabetes. Diabetes has become a major health issue owing to the growing number of geriatric population along with increasing prevalence of obesity.
Asia Pacific is considered to be the fastest growing region owing to the increasing prevalence of diabetes, improving health conditions, and support from the government.
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