Human Insulin Market Size Worth US$ 120.72 Billion by 2030 - Growth Plus Reports

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Jul 20, 2022, 09:00 ET

NEW YORK, July 20, 2022 /PRNewswire/ -- The global human insulin market is expected to clock US$ ~120.72 billion by 2030 from valued at US$ 47.72 billion in 2022, growing at a CAGR of 7.8% from 2022 to 2030 owing to increasing funding for research activities and growth in the past few years. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Market Driver

One of the major factors positively influencing global demand for Human Insulin (HI) is the rising prevalence of diabetes as a result of sedentary lifestyles, unhealthy dietary patterns, and high stress levels.

Furthermore, the growing geriatric population, which is more susceptible to such ailments, is propelling the market growth. Moreover, key players are developing pen devices and safety pen needles for administering HI in the body. It helps to reduce discomfort and the risks of injuries, infections, and bloodborne pathogen transmission. Significant improvements in healthcare infrastructure, as well as extensive research and development (R&D) activities in biotechnology by leading industry players, are creating a positive market outlook.

For instance, In April 2021, WHO launched the Global Diabetes Compact, a global initiative aimed at long-term improvements in diabetes prevention and care, with a particular emphasis on low and middle-income countries. The Compact brings together national governments, UN organizations, nongovernmental organizations, private sector entities, academic institutions, philanthropic foundations, people living with diabetes, and international donors to work on a shared vision of reducing diabetes risk and ensuring equitable, comprehensive, affordable, and high-quality treatment and care for all people diagnosed with diabetes.

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Excerpts Segmentation 'By Drugs'

Based on drugs, the human insulin market has been segmented into

Biosimilars
Biologics

Biosimilars are sub-segmented into long acting, rapid acting, and pre-mixed biosimilar whereas the biologics segment is also categorized into intermediate-acting, short-acting, and premixed biologics. The biosimilar segment is expected to grow at the fastest rate during the forecasted period. The driving factors include its slow action and adaptability to the human body, rising diabetic population worldwide, rising R&D for drug discovery and development, the rising proportion of the ageing population in developed countries, rising market accessibility of generic human insulin products globally, and rising government initiatives to support the development and commercialization of effective biosimilars.

For instance, In 2021, Viatris (formerly Mylan) and Biocon Biologics Semglee (insulin glargine-yfgn) were approved by the FDA as the first interchangeable biosimilars in the United States. Semglee is biosimilar to and interchangeable with Lantus from Sanofi (insulin glargine). According to the label, Semglee is a long-acting human insulin analogue that is indicated to improve glycemic control in adults and paediatric patients with type 1 diabetes mellitus, including adults with type 2 diabetes.

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Excerpts from 'By Region Segmentation'

Based on the region, the global human insulin market has been segmented into

North America
Europe
Asia Pacific
Rest of the World (RoW)

Because of the higher prevalence of diabetes in this region, the Americas hold the market leaders because they are the most diabetic, and the rising geriatric and obese population is likely to increase the demand for insulin in this region. Furthermore, elevated government expenditure on healthcare infrastructure and services fosters market growth. The majority of diabetic drug manufacturers see the country as an important market for increasing overall global sales. Lantus is the most widely used basal insulin in the world, with a commanding market share in the United States.

The Asia-Pacific market is the fastest growing. This region is also home to nearly 60% of the world's diabetic population. Furthermore, rising disposable income and improved healthcare infrastructure are driving the market growth. Increasing R&D initiatives by various organisations, as well as expanding government initiatives, have made the region attractive for the growth of the human insulin market.

Excerpts from 'Competitive Landscape'

Some of the key players in the global human insulin market are

Novo Nordisk A/S
Sanofi S.A
Eli Lilly and Company
Biocon Ltd
GlaxoSmithCline
Julphar
SemBioSys
Wockhardt Limited
Astra Zeneca PLC
Tonghua Dongbao Pharmaceutical
Pfizer Inc
Merck & Co

Human Insulin Market Segmentation:

Human Insulin Market - By Drugs

Biosimilars
Biologics

Human Insulin Market - Distribution Channel

Retail Pharmacy
Hospital Pharmacy
Online Pharmacy

Human Insulin Market - Applications

Type I Diabetes
Type II Diabetes

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