Global human insulin market, 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 By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global human insulin market is accounted at a value of US$ 21.1 Bn in the year 2020 and expected to grow at a significant CAGR of 3.6% during the forecast period and expected to reach to the value of more than US$ 28.0 Bn in 2028.
As per the report, so far the patients suffering from diabetes are required or treated with insulin injections obtained from pork or beef pancreases. Notwithstanding, in this day and age, the diabetic patients across the world are more inclined towards human insulin, which is said to be worthy of comparison with the porcine insulin in terms of biological effect and residue after administration.
Remarkably, the human insulin is likely to have quick absorption and briefer span of action when compared to animal insulin. Owing to which, the global human insulin market is expected to have brisk growth over the forecast period.
Basically, the human insulin attributes to the fabricated insulin mass-produced in research laboratories by developing insulin protein with the assistance of E. coli bacteria. The rise in incidence of diabetes among the population owing to their lifestyle factors or genetics across the world is also projected to majorly contribute to the growth of the global human insulin market in the near future.
The clinical importance of human insulin over insulin extracted from the pancreas of pork and beef insulin is advantageous due to the difference in residual product of human and other synthetically extracted insulin, which is one of the significant reason to favor the growth in the human insulin market in the near future.
The desk-bound jobs and stressful routine has bound the population to be physically inactive and led the way to severe disorders such as high blood pressure, obesity and high cholesterol which ultimately leads its way to diabetes and the count of diabetic patients is coupled with increasing geriatric population across the globe.
In addition to that, the soaring expenditure with regard to research and development activities by several different organizations and governments, that have alleviated the approach the insulin is infused into the human body, have also enhanced this growth of the global human insulin market.
Along with that, the advent of the advanced pen devices and safety pen needles for efficient infusion of insulin and related innovations are also estimated to boost the growth of the global human insulin market.
Other than that, the surging understanding among the population regarding diabetes and associated treatments available in the market is also projected to propel the growth of the global human insulin market during the forecast period.
In spite of all the positive driving factors, the inadequacy of awareness, restricted access and unpredictable cost of human insulin in emerging areas of the globe may hold back the growth of the global human insulin market in the coming years.
MMC study identifies some of the key participating players in the human insulin market globally are Novo Nordisk A/S, Eli Lilly and Company, Boston Scientific Corporation, Sanofi, Boehringer Ingelheim International GmbH, Biocon, Tonghua Dongbao Pharmaceutical, Julphar, Wockhardt, among other prominent players.
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