Human Recombinant Insulin Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4246
Human Recombinant Insulin Market size is projected to experience significant growth from 2019 to 2025.
Diabetes is a chronic disorder that arises either when the body cannot efficiently use the insulin it produces or when the pancreas does not produce enough insulin. The human recombinant insulin market is estimated to witness substantial growth across the projected timeframe. High growth is attributed to increasing prevalence of diabetes across the world. As per World health organization (WHO), in 2016, an estimated 1.6 million deaths were caused by diabetes. Diabetes prevalence has been rising more rapidly in low- and middle-income countries.
Human insulin market will witness favorable growth during analysis period, owing to significant advantages of recombinant human insulin over insulin from other animal sources. Human insulin shows substantial decreases in anti-insulin antibody levels, making it easier to manage allergies related to insulin intake. Also, most of the people are able to absorb human insulin better than animal insulins. Hence, increasing efficiency of these insulins over animal insulins will propel market growth.
However, human insulin seems to have a shorter time span for activity. Hence, patients being switched to human insulin must be critically monitored by doctors, that is a major growth limiting factor. Moreover, high cost associated with recombinant insulins will further obstruct market growth.
Regular (short acting) insulin segment is expected to witness substantial growth over the forecast period. These insulins are usually taken before meals. Short acting insulins are gaining popularity around the world. Increasing prevalence of diabetes among the population will boost demand for regular (short acting) insulin, thus augmenting market growth.
The retail pharmacies segment is expected to hold major chunk of revenue over the forecast period. High growth is attributed to increasing adoption rate of human insulin delivery systems available in these retail outlets. Moreover, increasing technological developments of insulin injectables will further augment retail pharmacies segmental growth. Additionally, growing number of retail pharmacies in developed as well as developing economies will also propel market growth.
The U.S. is expected to witness substantial growth over the forecast period owing to the increasing technological advancements in the insulin delivery products. Furthermore, increasing prevalence of diabetes in the U.S. will further propel market growth. Additionally, rising initiatives by various manufacturing firms to develop smart insulin delivery devices is another major reason to escalate market growth.
China is expected to witness significant growth in the human recombinant insulin market during the analysis period. High growth is attributed to increasing prevalence of diabetes in various parts of China. As per American Diabetes Association, China is among the major countries with the highest number of people suffering from diabetes. The increasing prevalence of type 2 diabetes has become a major public health challenge in China, thus fueling human recombinant insulin market growth.
Some of the key industry players include Biocon, Eli Lilly and Company, Zhuhai United Laboratories Co Ltd., Dongbao Enterprise Group Co Ltd., Sanofi S.A., Novo Nordisk A/S, Gan & Lee Pharmaceuticals, Ltd., Bioton S.A., Julphar Gulf Pharmaceutical Industries, Wanbang Biopharmaceuticals Co Ltd. Key strategies adopted by industry players include strategic collaborations, partnerships, mergers, and innovative product launch to expand their business product portfolio.
Human Recombinant Insulin Market by Product, 2014-2025 (USD Million)
- Regular (short acting) insulin
- NPH (intermediate acting) insulin
- Premixed human insulins insulin
Human Recombinant Insulin Market by Distribution Channel, 2014-2025 (USD Million)
- Retail pharmacies
- Online pharmacies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Eli Lilly and Company
- Zhuhai United Laboratories Co., Ltd.
- Dongbao Enterprise Group Co., Ltd.
- Sanofi S.A.
- Novo Nordisk A/S
- Gan & Lee Pharmaceuticals, Ltd.
- Bioton S.A.
- Julphar Gulf Pharmaceutical Industries
- Wanbang Biopharmaceuticals Co., Ltd.
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