Human Insulin Market Size to Reach USD 24.71 Billion by 2031 Driven by rise in the number of diabetics worldwide

AUSTIN, TEXAS, UNITED STATES, June 20, 2024 /EINPresswire.com/ -- The SNS Insider report estimates the Human Insulin Market Size at USD 19.21 billion in 2023, with a projected CAGR of 3.2% to reach USD 24.71 billion by 2031.

The global insulin market is driven by a factors likes, the rise in the number of diabetics worldwide. For Instance, according to WHO in 2023 over 422 million people are living with diabetes.

This directly linked to the growing adoption of unhealthy lifestyles characterized by excessive sitting and weight gain. Some developed nations are mitigating this burden with patient-centric policies that improve access to insulin. The insulin industry is abuzz with activity. Manufacturers are in competition to develop the next generation of insulin products, aiming to capture a larger portion of the market. This competition is rising innovation, with researchers also exploring revolutionary options like oral insulin delivered via microscopic carriers. This development in novel insulin solutions will increasing the growth of market. The increasing cases of diabetes has effect on various healthcare sectors. The need for effective strategies to manage and prevent diabetes will drive growth in areas like diabetic education programs, specialized clinics, and support groups. This makes the diabetes care will likely create a interconnected market system.

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List of Human Insulin Companies Profiled in Report:
• Novo Nordisk
• Companion Medical Inc.
• Valeritas Inc.
• Insulet Corporation
• Cellenovo
• Emperra Gmbh E-Health Technologies
• F Hoffmann-La Roche
• Ypsomed.
• Tandem Diabetes Care
• Medtronic Inc

Key Market Segmentation

By Type:
• Traditional human insulin
• Analogue insulin

By Diabetes Type:
• Type 1
• Type 2

By Distribution Channel:
• Hospital Pharmacy
• Online pharmacy
• Retails

Segment Analysis
By Type: Analogue insulin dominated the segment of Human Insulin market with more than 54% of market share in 2023 due to advancements in insulin technology can improved medication adherence and better blood sugar control. Research have a lower risk of hypoglycemia (low blood sugar) with insulin analogues compared to traditional options.

By Diabetes Type: Type 1 dominated the segment in Human Insulin market with high market share in 2023 due to the number of people with diabetes rises, so the dependence on daily insulin injections for type 1 diabetics to manage their blood sugar levels.

Recent Developments
• October 2023, Eli Lilly has introduced Lyumjev, a rapid-acting insulin analog designed to work quicker than existing options. This can be beneficial for those needing precise blood sugar control.
• August 2023, Sanofi Introduces in India an improved formulation of their long-acting human insulin, Lantus.
• November 2022, the U.S. Food and Drug Administration (FDA) Rezvoglar approved the medication which is interchangeable biosimilar to insulin glargine, offering patients with diabetes more treatment options.

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Regional Analysis
The North America dominated the global market of Human Insulin Market in 2023. This dominance is due to several factors such as, the presence of leading insulin manufacturers in North America increase the competitive environment which drives innovation and product development. This competition, provide benefits to the patients with a large range of treatment options. A growing concern across the globe, the cases of type 1 diabetes is also rise in North America. This increasing patient population which depends on insulin to manage their condition. The increasing demand for insulin directly increase the market growth.

Europe has the second-largest market, as Europe is experiencing an entry of key players in the insulin market. This increasing presence of major manufacturers will drive market growth in the region. The Asia Pacific region has the fastest growth rate due to its unique demographics. A rapidly aging population, with rising risk factors for diabetes, creates an important market potential in this region. Latin America and Middle East/Africa these regions are anticipated to see a slower and steady, market increase. One key driver in Latin America is the unmet demand for insulin in countries like Brazil and Mexico.
Key Takeaways:
• Understanding that unhealthy lifestyles are contributing factors, the report acknowledges patient-centric policies in developed nations that improve access to insulin as positive steps.
• The report highlights the industry's focus on innovation, with manufacturers developing next-generation products like oral insulin for a larger market share.
• The report acknowledges the increasing diabetes cases impacting various healthcare sectors.
• The report highlights Analogue insulin's dominance due to advancements in technology, leading to better medication adherence and blood sugar control.
• The report clarifies that Type 1 diabetes holds the highest market share due to the dependence on daily insulin injections for managing blood sugar.

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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Human Insulin Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Human Insulin Market Segmentation, By Type
Chapter 9 Human Insulin Market Segmentation, By Diabetes Type
Chapter 10 Human Insulin Market Segmentation, By Distribution Channel
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
Continued…

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Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
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