Rapid growth of healthcare industries, rising prevalence of chronic diseases and diabetes, and increasing Research & Development (R&D) activities

VANCOUVER, BRITISH COLUMBIA, CANADA, June 10, 2024 /EINPresswire.com/ -- The global human insulin market size was USD 18.17 Billion in 2022 and is expected to register a rapid revenue CAGR of 1.9% during the forecast period. The global human insulin market is experiencing substantial growth, fueled by the rapid expansion of healthcare industries, escalating prevalence of chronic diseases like diabetes, and increased Research & Development (R&D) activities supported by government investments. These key findings emerge from a recent market research report detailing the dynamics shaping the human insulin sector.

The rise in demand for human insulins parallels the increasing population in various countries, particularly in light of diabetes emerging as the fastest-growing chronic disease worldwide. According to the World Health Organization (WHO), approximately 537 million adults were affected by diabetes in 2021, with projections indicating a continual rise in prevalence. This trend is further compounded by the aging global population, expected to double over the next three decades, reaching approximately 1.5 billion by 2050.

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Technological advancements, including recombinant Deoxyribonucleic Acid (DNA) technology and the integration of Artificial Intelligence (AI) into production systems, are also significant drivers of market growth. These innovations enhance productivity, energy efficiency, and sustainability while improving the overall customer experience.

Moreover, breakthroughs such as Continuous Glucose Monitoring (CGM) devices and insulin pumps have revolutionized insulin therapy, offering real-time glucose monitoring and precise insulin delivery, thereby enhancing patient care and management of diabetes.

However, certain factors pose challenges to market expansion, including limitations in skilled workforce, high manufacturing expenses, and stringent government regulations. The substantial costs associated with equipment for human insulin production present affordability hurdles for many manufacturers, while the shortage of proficient professionals in the field further compounds these challenges.

Insights by Product and Application Segments

The global human insulin market is segmented by product into rapid acting insulin, long acting insulin, combination insulin, biosimilar insulin, and others. The long acting insulin segment dominates the market due to increased demand for patent protection and its long-term effectiveness, with major products including aspart, lispro, and glulisine.

The biosimilar insulin segment is expected to register moderate growth, driven by improved patient compliance and reduced drug costs. Notably, the approval of Semglee, a glargine biosimilar, by the Food and Drug Administration (FDA) in July 2021 marked a milestone in the market, opening avenues for more affordable insulin options.

In terms of application, the type 1 diabetes segment holds a significant market share owing to the high insulin dependency of type 1 patients. Meanwhile, the type 2 diabetes segment is expected to witness steady growth due to the rising prevalence of type 2 diabetes globally.

Future Prospects and Opportunities

Looking ahead, ongoing Research & Development (R&D) efforts are focused on oral insulin delivery systems, with promising candidates such as Oramed ORMD-0801 and Diasome’s HDV-I undergoing clinical trials. The approval of these products would provide patients with additional options beyond insulin injections, potentially reshaping the treatment landscape.

The retail pharmacy segment is poised to lead the market during the forecast period, driven by increased accessibility to treatment options and medications. The growing role of pharmacies in patient education and guidance on treatment regimens further reinforces this trend, contributing to sustained revenue growth.

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Human Insulin Top Companies and Competitive Landscape

The global human insulin market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective human insulin solutions.

Some major players included in the global human insulin market report are:

Tonghua Dongbao Pharmaceutical Co., Ltd.

Eli Lilly and Company

Biocon Ltd.

Merck & Co., Inc.

Ypsomed AG

Johnson & Johnson Private Limited

Albireo Pharma, Inc.

Amgen Inc.

Teva Pharmaceutical Industries Ltd.

WOCKHARDT

Human Insulin Latest Industry News

In November 2022, Biocon Sdn. Bhd., a subsidiary of Biocon based in Malaysia, disclosed the acquisition of a three-year contract for its recombinant human insulin brand, Insugen, awarded by the Ministry of Health (MoH) in Malaysia.

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Human Insulin Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global human insulin market on the basis of product, application, type, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

Rapid acting insulin

Long acting insulin

Combination insulin

Biosimilar insulin

Others

Application Outlook (Revenue, USD Billion; 2019-2032)

Type 1

Type 2

Type Outlook (Revenue, USD Billion; 2019-2032)

Analog insulin

Human insulin

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospital & clinics

Retail pharmacy

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of Middle East & Africa

For more informative information, please visit us @ https://www.emergenresearch.com/industry-report/human-insulin-market

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