Sarasota, FL, Aug. 25, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Human Insulin Market by Product (Drug and Drug Delivery Devices) for Type 1 Diabetes, Type 2 Diabetes Application -Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021” According to the report, the global Human Insulin market accounted for USD 27.00 billion in 2015 and is expected to reach USD 43.6 billion by 2021, growing at a CAGR of around 8.3% between 2016 and 2021.
Insulin is necessary for normal carbohydrate, protein, and fat metabolism. People with type 1 diabetes mellitus do not produce enough of this hormone to sustain life and therefore depend on exogenous insulin for survival. In contrast, individuals with type 2 diabetes are not dependent on exogenous insulin for survival. However, over the time, many of these individuals will show decreased insulin production, therefore requiring supplemental insulin for adequate blood glucose control, especially during times of stress or illness. This position statement addresses issues regarding the use of conventional insulin administration (i.e., via syringe or pen with needle and cartridge) in the self-care of the individual with diabetes.
Browse 13 Market Tables and 25 Figures spread through 110 Pages and an in-depth TOC on "Human Insulin Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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The global human insulin market is expected to witness significant growth during the forecast period. This growth is attributed due to increasing risk of diabetes, rising market demand for human insulin analogs, technological advancements in the field of human insulin delivery devices, and favorable medical reimbursements. An insulin regimen is often required in the treatment of gestational diabetes and diabetes associated with certain conditions or syndromes (e.g.pancreatic diseases, drug- or chemical-induced diabetes, endocrinopathies, insulin-receptor disorders, certain genetic syndromes). In all instances of insulin use, the insulin dosage must be individualized and balanced with medical nutrition therapy and exercise.
Drugs segment dominated the human insulin market across globe in 2015 followed by drug delivery device due to its excess demand, rising proportion of aging population in developed countries, growing research & development for drug discovery & development, increasing market accessibility of generic products worldwide, and rising government initiatives.
Browse the full "Human Insulin Market by Product (Drug and Drug Delivery Devices) for Type 1 Diabetes, Type 2 Diabetes Application - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/human-insulin-market
In terms of drugs, biosimilars drugs were expected to account for the largest market share of the human insulin market in upcoming forecast period. Demand for biosimilar drugs is strong in both developed and developing countries due to its low cost therapy. This is driven by the need for the best valuable treatment, which can often be expensive. Biosimilar insulin drug may offer a less-costly alternative to existing human insulin biologics.
In terms of revenue, North America held the largest share in the global human insulin market in 2015 and is set to continue to dominate the world human insulin market place in the upcoming forecast period. This growth is mainly attributed to the owing to high prevalence of diabetes, technological advances in effective insulin delivery and government support in this region. The rising numbers of pharmaceutical companies coupled with advanced technology are some of the key factors that are expected to fuel the growth of market in this region.
Europe held the second largest share in the global insulin market in terms of revenue. European countries like Germany, France and Italy are the major markets of human insulin. The prevalence of type 1 diabetes is rising in all European countries, particularly in Scandinavia and the UK. Insulin therapy in Europe is strongly influenced by the results of the Diabetes Control and Complications Trial (DCCT) and the United Kingdom Prospective Diabetes Study (UKPDS), both of which showed the importance of tight metabolic control in patients with diabetes.
Asia-Pacific is expected to be the fastest growing market for human insulin production, development, and distribution during forecast periods. Furthermore, Asia-Pacific countries are considered to be the profitable ones for investors to invest in for manufacturing and clinical activities of pipeline and existing human insulin products. Major players enter the Asian market with the purpose to work together with various CMO and CRO existing in this region that is expected to foster the development of human insulin at lower cost in the near future.
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The demand for human insulin would be on the rise in the coming years due to the high prevalence rate of diabetes as well as low price of human insulin. Countries such as China, India, Japan, and Korea are expected to offer potential growth opportunities to human insulin market. China is estimated to be the fastest growing market for human insulin market. This trend is expected to continue within the forecast period. UAE and Brazil may emerge as lucrative markets for human insulin market in the coming years.
Key market players of human insulin market include Eli Lilly, GlaxoSmithCline, Biocon, Sanofi Aventis, Julphar, Novo Nordisk, SemBioSys, Ypsomed AG and Wockhardt.
This report segments the global human insulin market as follows:
Human Insulin Market: Product Segment Analysis
- Drugs
- Insulin Analogs and Biosimilars
- Human Insulin Biologics
- Drug Delivery Devices
- Pens
- Pen Needles
- Syringes
Human Insulin Market: Application Segment Analysis
- Insulin dependent diabetes mellitus (Type 1)
- Non-Insulin dependent diabetes mellitus (Type 2)
Human Insulin Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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