Human Insulin Market
Number of pages: 100 | Report Format: PDF | Published date: July 18, 2022
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 24.88 billion |
|
Revenue Forecast in 2031 |
US$ 35.41 billion |
|
CAGR |
4.0% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Drugs, Application, Distribution Channel, And Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global human insulin market was valued at US$ 24.88 billion in 2022 and is expected to register a revenue CAGR of 4.0% to reach US$ 35.41 billion by 2031.
Human Insulin Market Fundamentals
Human insulin is a hormone that regulates blood sugar levels in the body. It is produced by the beta cells in the pancreas and plays a crucial role in metabolizing carbohydrates, fats, and proteins. Insulin helps transport glucose from the bloodstream into cells, which can be used as energy or stored for later use. In people with diabetes, the body either doesn't produce enough insulin or cannot use it effectively. This leads to high blood sugar levels, which can cause a range of health problems over time. To manage diabetes, many people with this condition need to take insulin injections to supplement the insulin their body produces or to replace it entirely. Human insulin is manufactured in laboratories for pharmaceutical purposes. It is bioengineered by growing insulin proteins within E. coli bacteria (Escherichia coli, a gram-negative bacteria) cells to mimic the properties of human insulin. It is available in various formulations with different durations of action, including rapid-acting, short-acting, intermediate-acting, and long-acting insulin.
[4574543]
Human Insulin Market Dynamics
The prevalence of diabetes is rising significantly worldwide, increasing the demand for insulin. According to the WHO, approximately 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.5 million deaths are directly attributed to diabetes each year. The human insulin market outlook is positive. The growing geriatric population and sedentary lifestyle also increase diabetes cases. Advancements in technology have led to the development of new insulin delivery devices, such as insulin pens, insulin pumps, and continuous glucose monitoring systems. These devices have made insulin therapy more convenient and accurate, which has increased patient adherence to treatment.
Moreover, the ongoing research and development of new insulin products, including ultra-rapid-acting and concentrated insulin, is boosting the demand for human insulin. The changes in healthcare policies, including the expansion of insurance coverage and increased government investment in healthcare infrastructure, have made insulin therapy more accessible and affordable for people with diabetes.There has been a shift towards using analog insulin, a synthetic form of insulin modified to have faster onset, shorter duration, and fewer side effects compared to traditional human insulin. This human insulin industry trend has been driven by the desire to achieve better glucose control and reduce the risk of hypoglycemia.
However, many of the major human insulin products have already gone off-patent, which has led to increased competition from generic versions of the drug. This can lead to lower prices and reduced revenue for manufacturers, restricting the human insulin market growth. The regulatory environment for diabetes treatments is becoming increasingly complex, with more stringent requirements for safety and efficacy, thus cramping the growth of the human insulin market.
Human Insulin Market Ecosystem
The global human insulin market is analyzed from four perspectives: drugs, application, distribution channel, and region.
Human Insulin Market by Drugs
[98767544]
Based on the drugs, the global human insulin market is segmented into biosimilars and biologics.
The biologics segment accounted for the largest human insulin market share in 2022. The biologics segment is further sub-segmented into Short Acting, Intermediate Acting, and Premixed. Biologics human insulin products have been on the market for several decades and have a well-established safety and efficacy track record. These products have a large patient base and are well-known by physicians, which has helped them to maintain a dominant market position. Many biologics human insulin products are protected by patents, which can prevent other companies from producing competing products. This has allowed the manufacturers of these products to maintain a dominant market position and charge high prices. Patients using a particular biologics human insulin product may be reluctant to switch to a different product due to concerns about efficacy and safety. This can make it difficult for new products, such as biosimilars, to gain market share. Due to the complexity of manufacturing biologics, only a few companies can often produce these products. This limited competition can result in high prices for these products but makes it difficult for new companies to enter and gain market share.
The biosimilars segment is expected to register a lucrative growth rate in terms of the human insulin market forecast. Many major biologics human insulin products are protected by expired patents or are set to expire soon. This has created an opportunity for biosimilar manufacturers to develop and market their versions of these products. Biosimilars are often priced lower than their reference products, making them an attractive option for patients and healthcare providers looking to reduce the cost of diabetes treatment. The regulatory framework for biosimilars has become more established in recent years, with the approval process becoming more streamlined and predictable. This has increased the number of biosimilars approved for use in treating diabetes. Advances in manufacturing techniques have made it easier to produce biosimilars highly similar to reference products regarding safety and efficacy. As more biosimilars have been approved and used in clinical practice, healthcare providers and patients have increasingly accepted these products. This has helped to drive the growth of biosimilars in the human insulin market.
Human Insulin Market by Application
Based on the applications, the global human insulin market is segmented into type 1 diabetes and type 2 diabetes.
The type 2 diabetes segment accounted for the prominent revenue share of the human insulin market in 2022. Type 1 diabetes is characterized by a lack of insulin production in the body, which means individuals with this condition depend on exogenous insulin to regulate their blood glucose levels. This results in a large and growing patient population that requires regular insulin therapy. Type 1 diabetes is a chronic disease that requires lifelong management. This means that individuals with this condition require insulin therapy for many years, if not their entire lives, which can result in high utilization levels and demand for human insulin products. Type 1 diabetes is often diagnosed in childhood, which means that a large pediatric population requires insulin therapy. These patients may require different types of insulin products and dosing regimens than adults, which can further drive demand for human insulin products. According to the International Diabetes Federation, more than 1.2 million children and adolescents (0-19 years) have type 1 diabetes. Type 1 diabetes can cause significant morbidity and mortality if not properly managed, which means a high disease burden is associated with this condition. This is driving demand for more effective and convenient insulin products.
The type 2 diabetes segment had a significant human insulin market share in 2022.Type 2 diabetes is becoming more common around the world, in part due to factors such as aging populations and increasing rates of obesity. This has resulted in a growing patient population that requires insulin therapy to manage their blood glucose levels. According to the International Diabetes Federation, type 2 diabetes is the most common type of diabetes, accounting for around 90% of all diabetes. Type 2 diabetes is characterized by insulin resistance, meaning the body is less responsive to insulin than it should be. This can result in high blood glucose levels that require insulin therapy to manage.
Human Insulin Market by Distribution Channel
Based on the distribution channels, the global human insulin market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies.
The retail pharmacies segment dominated the human insulin market with the highest revenue share in 2022. Retail pharmacies are often conveniently located in local communities, making it easier for patients to access the human insulin products they need. This is especially important for patients who require regular insulin therapy and need to refill their prescriptions frequently.Retail pharmacies typically have a wide range of human insulin products available, making it easier for patients to find the specific products they need. This can be particularly important for patients who require specific types or formulations of insulin.
Human Insulin Market by Region
Geographically, the global human insulin market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America region has the largest human insulin market size in terms of revenue generation. North America has a high prevalence of diabetes, which has been increasing steadily in recent years. This has resulted in a large patient population that requires human insulin products to manage their condition. According to the 2022 National Diabetes Statistics Report released by the Centers for Disease Control and Prevention, it is estimated that more than 130 million adults are living with diabetes or prediabetes in the U.S. Obesity is a major risk factor for Type 2 diabetes, and North America has some of the highest rates of obesity in the world. This has contributed to the growing prevalence of diabetes in the region and increased demand for human insulin products. There is a growing awareness and education about diabetes and the importance of effective blood glucose management in North America. This has resulted in more patients seeking treatment for their condition and increased demand for human insulin products. The North American healthcare system has relatively favorable reimbursement policies for human insulin products, which has made these products more accessible to patients who require them. This has helped to drive demand for human insulin products in the region.
Human Insulin Market Competitive Landscape
The prominent players operating in the global human insulin market are:
Human Insulin Market Strategic Developments
Human insulin is a hormone that regulates blood sugar levels in the body. It is produced by the beta cells in the pancreas and plays a crucial role in metabolizing carbohydrates, fats, and proteins. Insulin helps transport glucose from the bloodstream into cells, which can be used as energy or stored for later use.
Asia Pacific can be considered the key growth region due to the surge in human insulin industry trends in China, Japan, and the Indian subcontinent.
The prominent players operating in the global human insulin market are Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Biocon Ltd, and Wockhardt Limited.
The global human insulin market growth is estimated to grow at a revenue CAGR of 4% during the forecast period from 2023 to 2031.
The estimated size of the global human insulin market in 2031 is US$ 35.41 billion.
*Insights on financial performance are subject to the availability of information in the public domain