Pune, Jan. 06, 2020 (GLOBE NEWSWIRE) -- The global Human Insulin Market size is anticipated to reach USD 27.71 billion by 2026. International Diabetes Federation (IDF) reported that around 425 million people across the world suffer from diabetes. This shows that the rising prevalence of diabetes is propelling growth in the market. Fortune Business Insights in a new report, titled “Human Insulin Market Size, Share & Industry Analysis, By Type (Analogue Insulin (Long-Acting, Fast Acting, Premix), Traditional Human Insulin (Long-Acting, Short-Acting, Fast Acting, Premix)), By Diabetes Type (Type 1, Type 2), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, Online Pharmacy), and Regional Forecast, 2019-2026” predicts the market to exhibit a CAGR of 3.4% during the forecast period. In 2018, the market value stood at USD 21.26 billion in 2018. The adoption of delivery devices primarily for insulin administration is increasing, thus driving the market.
Eli Lilly & Company to Launch Analogue Humalog Insulin in the U.S.
Among products, analogue insulin covered the maximum part in the Human Insulin Market share in 2018. Analogue insulin helps to control blood sugar levels in people suffering from type 1 and type 2 diabetes. Driven by this, the adoption of analogue insulin is increasing, which increases the Human Insulin Market size. This, coupled with the recent launch of generic insulin, is expected to contribute to the growth of the market. For instance, Eli Lilly and Company announced the launch of a generic version of analogue Humalog insulin called Insulin Lispro in April 2019. Owing to the cheaper rates of Humalog, this insulin is more accessible to diabetic patients in the country. This segment is expected to drive the Human Insulin Market in the foreseeable future.
For more information in the analysis of this report,
visit: https://www.fortunebusinessinsights.com/industry-reports/human-insulin-market-100395
Presence of Giant Insulin Manufacturers to Give Impetus to the Growth in North America
From a geographical standpoint, North America continues to maintain its dominance in the global Human Insulin Market through the forecast years. The report indicates that the market in this region was worth USD 10.42 billion in the year 2018. The growth in the market is driven by the existence of key insulin manufacturers and robust competition among each other. In addition to this, the increasing prevalence of type 1 diabetes in North America is enabling growth in the market. The higher prices of insulin in the U.S. is likely to garner growth in the market, which in turn, will foster the Human Insulin Market size in North America. Other factors driving the insulin drugs market in this region are increasing healthcare spending and rising research and development (R&D) activities for the successful development of biosimilars.
Apart from North America, Europe is the second-most leading region in the market. Following Europe, the market in Asia Pacific is expected to rise at the highest CAGR over the projected horizon. This is ascribable to the rising prevalence of diabetes, coupled with rising per capita income of the population in this region. Another factor driving the market is the higher availability of generic insulin. Other regions such as Latin America and the Middle East and Africa are expected to grow at a slow rate in the forthcoming years.
Novo Nordisk to Expand its Insulin Manufacturing Plant in India
The prevalence of diabetes is increasing across the world, one of the primary Human Insulin Market trends. In a 2017 report published by the Centers for Diseases Control and Prevention (CDC), it was found that around 30.3 million people in the U.S. suffered from diabetes. Furthermore, it was stated that among the above numbers, around 23.1 million were diagnosed, while the rest were not diagnosed. The increasing adoption of a sedentary lifestyle is the primary reason behind the prevalence of diabetes. This, as a result, will fuel demand for insulin pens and insulin injections among masses. Consequently, Biocon plans to develop an oral insulin tablet called Tregopil for people suffering from Type 1 and Type 2 diabetes. This tablet aims to improve the post-prandial blood sugar control and has minimum side-effects. As per the report, companies such as Eli Lilly and Company, Sanofi, and Novo Nordisk A/S hold the maximum share in the global market.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/human-insulin-market-100395
List of the key players operating in the Human Insulin Market are:
- Novo Nordisk A/S
- Eli Lilly and Company
- Boston Scientific Corporation
- Sanofi
- Boehringer Ingelheim International GmbH
- Biocon
- Tonghua Dongbao Pharmaceutical
- Julphar
- Wockhard
- Other prominent players
Several companies are focusing on to develop their product portfolio by targeting emerging or underdeveloped countries. For instance, Novo Nordisk plans to expand its manufacturing facility plant in Ahmedabad, India. This facility ensures the provision of high-quality quality and affordable insulin for diabetic patients.
Some of the industry developments made by companies are mentioned below:
April 2019: Eli Lily and Company to launch a low-priced insulin called Humalog in the U.S. to fulfil the needs of people who need insulin.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/human-insulin-market-100395
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Diabetes - Key Countries
- Pipeline Analysis
- Brand Analysis
- Key Market Strategies of Leading Players
- Overview of Regulatory Scenario - Key Countries
- Global Human Insulin Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- 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
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Type
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/human-insulin-market-100395
Have a Look at Related Reports:
Diabetes Drugs Market Size, Share and Industry Analysis By Drug Class (Insulin, DPP-4 Inhibitors, GLP-1 Receptor Agonists, SGLT2 Inhibitors), Diabetes Type (Type 1, Type 2), Route of Administration (Oral, Subcutaneous, Intravenous), Distribution Channel (Online pharmacies, Hospital Pharmacies, Retail Pharmacies) & Regional Forecast 2019 – 2026
Diabetes Treatment Devices Market Size, Share and Industry Analysis By Product (Insulin Pens, Insulin Pumps, Insulin Jet Injectors, Insulin Syringes, Others), By Distribution Channel (Institutional Sales (Hospitals, Clinics), Retail Sales (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)) & Regional Forecast, 2019 - 2026
Cardiovascular Drugs Market Size, Share & Industry Analysis, By Drug Type (Antihypertensive, Antihyperlipidemic, Anticoagulants, Antiplatelet Drugs, Others), By Disease Indication (Hypertension, Hyperlipidemia, Coronary Artery Disease, Arrhythmia, Others), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019 -2026
Neurovascular Devices/Interventional Neurology Market Size, Share & Industry Analysis, By Device Type (Stenting Systems, Embolization Devices, Neurothrombectomy Devices, and Support Devices), By Application (Cerebral Aneurysms, Ischemic Stroke and Others), By End User (Hospitals, Specialty Clinics and Others), and Regional Forecast 2019-2026
Spinal Fusion Devices Market Size, Share & Industry Analysis, By Product Type (Cervical Devices, Thoracolumbar Devices, Interbody Devices, and Biologics), By Disease Indication (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures, and Others), By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics and Others) and Regional Forecast, 2019-2026
Endoscopic Ultrasound (EUS) Market Size, Share & Industry Analysis, By Product (Endoscopes (Radial Endoscopes and Linear Endoscopes), Ultrasound Probes, Ultrasonic Processors, Imaging Systems, Needles, and Accessories) By Application (Oncology Pancreatic Conditions, and Others), By End User (Hospitals, Ambulatory Surgery Centers, Others) and Regional Forecast 2019-2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Website: https://www.fortunebusinessinsights.com
LinkedIn | Twitter | Blogs