The new report by Expert Market Research titled, ‘Global Human Insulin Market Price, Report and Forecast 2021-2026’, gives an in-depth analysis of the human insulin market, assessing the market based on its segments like product type, type, brand, delivery service, applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 36 billion
- Forecast CAGR (2021-2026): 4.7 %
- Forecast Market Size (2026): USD 48 billion
Factors such as rising population with diabetes, increasing population sensitivity to main risk drivers, growing consumer demand for analogues with human insulin, technical developments in human insulin-supply networks and advantageous medical reimbursement can be attributed to market growth. However, the market’s growth is being stifled by tight regulatory criteria for product clearance. Furthermore, high commodity production costs are presenting major demand growth challenges.
Industry Definition and Major Segments
Human insulin is a synthetic insulin developed in labs using e. coli bacteria to raise insulin protein levels. Human insulin can be taken orally or supplied through insulin infusion pumps. Syringes, injection needles, and insulin pumps are examples of common insulin infusion systems. These instruments are used to ensure that insulin is administered on time and on budget.
Based on product type, the market is divided into:
- Delivery Device
Based on type, the industry can be segmented into:
- Insulin Analogs and Biosimilars
- Delivery Device
Insulin analogs and biosimilars is further divided on the basis of types into long acting, rapid acting, and pre-mixed, whereas delivery device is divided into intermediate-acting, short-acting, pre-mixed.
By brand, the industry is categorised into:
- Actrapid, Insulatard, and Mixtard
Based on delivery service, the industry is segregated into:
- Pen Needles
Based on applications, the industry is divided into:
- Type 1
- Type 2
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Growing R&D for drug discovery & development, rising proportion of aging population in developed countries, increasing market accessibility of generic human insulin products worldwide, and rising government initiatives to support the development and commercialization of effective biosimilars.
Owing to the growing prevalence of diabetes in APAC (coupled with the huge diabetic and pre-diabetic patient population), the Asia-Pacific market is expected to expand quickly in the forecast time period and will reinforce global distribution networks of regional product suppliers, the shifting regulatory environment for marketing approvals and medical refunds, the continued growth of the advanced physician facilities.
The main initiatives implemented by global players to improve their role in the world market are regional growth and product development. In addition, strategy for improving their portfolio and widening delivery networks on the global human insulin industry, such as alliances, deals, collaborations, public advertising programs and research support and grants was also taken on by many market participants.
Key Market Players
The major players in the market are Nova Nordisk A/S, Biocon Limited, Sanofi S.A., Pfizer Inc., Eli Lilly and Company, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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