Pune, India, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Global Human Insulin Market Size was valued at USD 18.73 billion in 2022 and is projected to grow USD 21.04 billion by 2030, exhibiting a CAGR of 1.5% during the forecast period. The growing occurrence of diabetes, coupled with the increasing adoption of insulin analogs, is driving market expansion.
This information is provided by Fortune Business Insights™ in its research report titled Human Insulin Market, 2023-2030.
Key Industry Development-
- May 2020- Novo Nordisk A/S announced its novel social responsibility ‘Defeat Diabetes’ program to expand the company’s Changing Diabetes in Children (CDiC) program.
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Key Takeaways –
- Human Insulin Market size in North America was USD 8.63 billion in 2022
- Increasing Prevalence of Diabetes to Augment Market Growth
- Increased Launch of Novel Insulin Products to Stimulate Market Growth
- The Analogue insulin segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- Novo Nordisk A/S (Denmark)
- Eli Lilly and Company (U.S.)
- Sanofi (France)
- BIOTON S.A. (Poland)
- Gan & Lee Pharmaceuticals (China)
- Biocon (India)
- Tonghua Dongbao Pharmaceutical (China)
- Julphar (UAE)
- Wockhardt (India)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 1.5% |
| 2030 Value Projection | USD 21.04 Billion |
| Base Year | 2022 |
| Human Insulin Market Size in 2022 | USD 18.73 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 174 |
| Segments covered | Type, Diabetes Type, Distribution Channel and Geography |
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Drivers & Restraints:
Novel Product Launches Facilitated the Market’s Growth
Human insulin serves as a hormone that regulates blood sugar levels in the body, primarily employed in the treatment of diabetes. The growing prevalence of diabetes is anticipated to boost the demand for human insulin. Moreover, the introduction of new products by various manufacturers is poised to contribute to the industry's expansion. For instance, in May 2022, Eli Lilly and Company obtained approval for their Mounjaro injection, designed to aid type 2 diabetes patients in improving their glycemic control. Additionally, the escalating expenditure on healthcare devices is projected to drive growth in the human insulin market. Despite these positive trends, challenges such as a low diagnosis rate and the absence of reimbursement policies may impede the industry's progress.
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Pipeline Analysis, By Key Players
- Pricing Analysis, By Key Countries, 2022
- Prevalence of Diabetes, By Key Countries, 2022
- Brand Analysis – By Key Countries
- Key Market Strategies, By Key Players
- Overview of Regulatory Scenario – For Key Countries/Regions
- Impact of COVID-19 on the Market
- Global Human Insulin Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- Analogue Insulin
- Long-acting
- Fast-acting
- Premix
- Traditional Human Insulin
- Long-acting
- Short-acting
- Fast-acting
- Premix
- Analogue Insulin
- Market Analysis, Insights and Forecast – By Diabetes Type
- Diabetes Type 1
- Diabetes Type 2
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail & Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- Market Analysis, Insights and Forecast – By Type
-
-
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
-
- North America Human Insulin Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- Analogue Insulin
- Long-acting
- Fast-acting
- Premix
- Traditional Human Insulin
- Long-acting
- Short-acting
- Fast-acting
- Premix
- Analogue Insulin
- Market Analysis, Insights and Forecast – By Diabetes Type
- Diabetes Type 1
- Diabetes Type 2
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail & Online Pharmacies
- Market Analysis, Insights and Forecast – By Type
- Market Analysis, Insights and Forecast – By Country
-
- U.S.
- By Diabetes Type
- Canada
- By Diabetes Type
- U.S.
-
Regional Insights:
The dominance of key players is poised to drive the growth of the human insulin industry in North America. With the market in the region reaching USD 8.63 billion in 2022, North America is anticipated to secure a significant share of the global market in the coming years. The increasing prevalence of type 1 diabetes is expected to contribute to the growing demand for human insulin, thereby fueling market advancement.
In Europe, the expanding presence of major companies is projected to boost the growth of the human insulin industry, fostering progress in this region. Meanwhile, in Asia Pacific, the rising prevalence of diabetes among the geriatric population is expected to increase the adoption of human insulin, driving market progression in the years to come.
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Competitive Landscape:
Companies implement acquisition strategies to enhance their resources and strengthen their market presence. An illustration of this approach is seen in Novo Nordisk A/S, which successfully acquired Dicerna Pharmaceuticals along with its ribonucleic acid interference (RNAi) platform in November 2021. Such strategic moves are aimed at expanding market reach. Additionally, major companies utilize a range of strategies, including mergers, acquisitions, product launches, innovations, expansions, and research and development, to fortify their position in the market.
FAQs
How big is the Human Insulin Market?
Human Insulin Market size was USD 18.73 billion in 2022. It is expected to reach USD 21.04 billion in 2030.
How fast is the Human Insulin Market growing?
The Human Insulin Market will exhibit a CAGR of 1.5% during the forecast period, 2023-2030.
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