Pune India, Jan. 03, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the human insulin drugs and delivery devices market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the human insulin drugs and delivery devices market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, delivery device, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the human insulin drugs and delivery devices market are Biocon, Lilly, BD, Mylan N.V., Johnson & Johnson, Julphar, Teva Pharmaceutical Industries Limited, WOCKHARDT, B. Braun SE, Sanofi, Boehringer Ingelheim International GmbH, Ypsomed AG, CeQur Simplicity, Albireo Pharma, Inc., Novo Nordisk A/S, Medtronic, Merck & Co, Inc., AstraZeneca, Bayer AG among others. To achieve a substantial market share in the worldwide human insulin drugs and delivery devices market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Ideally, human insulin would be synthesized in the laboratory and resemble what a human would produce. Insulin also plays a key role in the fat and carbohydrate metabolism regulation in the body. Increasing diabetes cases due to ageing, obesity, and unhealthy lifestyles are major factors contributing to market growth. Unhealthy eating habits and a sedentary lifestyle is one the leading cause of the rising number of diabetes cases. There are so many factors which responsible for the slow growth of the market such as lack of trained professionals, lack of understanding about the drugs and drug delivery devices, high cost of manufacturing etc. As the demand for advanced insulin delivery devices continues to grow, new innovative pen devices and portable pumps are set to be adopted, which will drive the growth of the market. Additionally, stringent medical device approval regulations make it difficult for novel drug delivery devices for human insulin to gain approval, which is hampering the market's growth. Apart, from this market will witness huge growth due to the rising demand for insulin drugs and delivery devices among diabetes patients. Furthermore, rising awareness about the management of diabetes, rising disposable income, rising geriatric population and increased R&D by major key players will contribute a significant share in the market growth.
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Scope of Human Insulin Drugs and Delivery Devices Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product Type, Delivery Device, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Biocon, Lilly, BD, Mylan N.V., Johnson & Johnson, Julphar, Teva Pharmaceutical Industries Limited, WOCKHARDT, B. Braun SE, Sanofi, Boehringer Ingelheim International GmbH, Ypsomed AG, CeQur Simplicity, Albireo Pharma, Inc., Novo Nordisk A/S, Medtronic, Merck & Co, Inc., AstraZeneca, Bayer AG among others. |
Segmentation Analysis
Human Insulin Drugs are expected to be the fastest-growing segment in 2022.
The product type segment is human insulin delivery devices and human insulin drugs. The human insulin drugs segment is expected to witness the highest growth rate during the forecast period. A significant portion of the market will be occupied by the human insulin drugs segment. Factors contributing to the trend include the ageing population in developed countries, the growth of R&D for drug discovery and development, and the increase in market accessibility of generic Human Insulin products.
The insulin pen is expected to be the fastest-growing segment in 2022.
The delivery device segment includes insulin pumps, insulin injectors, insulin pens and insulin syringes. The insulin pen segment is expected to witness the highest growth rate during the forecast period. A significant CAGR is expected in the insulin pen segment due to the commercialization of innovative Human Insulin pens and the significant medical reimbursements offered in mature markets for Human Insulin pens. Several factors contributed to the largest revenue share of this segment, including its high adoption rate, user-friendly design, and growing popularity with consumers. Manufacturers' increasing emphasis on innovation and advancement is another significant factor contributing to its high share.
Homecare is expected to be the fastest-growing segment in 2022.
The end-user segment includes homecare, hospitals, speciality clinics and others. The homecare segment is expected to witness the highest growth rate during the forecast period. As of 2021, home care accounted for 48.9% of the global insulin delivery devices market's revenue. Patients are adopting insulin delivery devices for home use due to an increased awareness of diabetes care and an increase in the adoption of insulin delivery devices.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the human insulin drugs and delivery devices market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Due to the increasing number of diabetics and the accessibility of technologically advanced devices, North America's market growth is on the rise. Moreover, it has been established that there are several initiatives in the commercial sector to address insulin affordability, such as the introduction of biosimilar insulin products, which may help to reduce out-of-pocket costs as well as the possibility of automatic interchangeability between originator and biosimilar insulin, contributing to markets growth.
Country Analysis
- Germany
Germany's human insulin drugs and delivery devices market size was valued at USD 3.5 billion in 2021 and is expected to reach USD 6.6 billion by 2029, at a CAGR of 8.4% from 2023 to 2030. In the forecast period, there will be greater opportunities for growth in the human insulin drugs and delivery device markets due to the increasing demand for human insulin analogues, which will propel the growth of the market in the country. Furthermore, the advancements in the design of insulin devices are also anticipated to bolster the growth of the human insulin drugs and delivery devices market.
- China
China’s human insulin drugs and delivery devices market size was valued at USD 3.7 billion in 2021 and is expected to reach USD 7.2 billion by 2029, at a CAGR of 8.7% from 2023 to 2030.
The largest market share is expected to come from China, which possesses a large patient pool and is relatively easy to regulate insulin biosimilar drugs there.
- India
India's human insulin drugs and delivery devices market size was valued at USD 2.8 billion in 2021 and is expected to reach USD 5.4 billion by 2029, at a CAGR of 8.6% from 2023 to 2030.
As the nation's population ages and diabetes prevalence increases due to increased stress, sedentary lifestyles, smoking, and excessive alcohol consumption, insulin drugs and devices are becoming more popular, which is propelling the growth of the human insulin drugs and delivery devices market in the country.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing cases of diabetes, propelling the growth of the market across the countries.
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