Human Insulin Market by Therapeutics, Diagnostics, Patient, Drugs Policy and Regulatory Landscape


Posted February 11, 2019 by psmarketresearch2017

The human insulin (HI) market size is predicted to reach $70.6 billion by 2023, according to P&S Intelligence.

 
Increasing population exposure to key risk factors leading to diabetes, technological advancements in insulin delivery devices, growth in the number of diabetic patients, and growing geriatric population are the factors driving the market growth.

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The products available in the human insulin market are HI drugs and delivery devices. Among these products, HI delivery devices is expected be the faster growing category, globally, advancing at a CAGR of 11.1% during the forecast period. This is attributed to increasing prevalence of diabetes, and growing focus of insulin pen manufacturers on countries with large number of diabetic patients, such as China and India. Furthermore, technological advancements in pens and medical reimbursements offered in developed regions are some of the other factors driving the growth of this product category.

On the basis of application, the human insulin market is categorized into type II diabetes, type I diabetes, and gestational diabetes and prediabetes. Type II diabetes is expected to be the fastest growing application area in this market, advancing at a CAGR of 9.1% during the forecast period, which is attributed to increasing prevalence of type II diabetes, globally.

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The International Diabetes Federation (IDF) reported in 2015, that an estimated 82 million people aged between 20 to 79 years suffered from diabetes in South-East Asia in 2017. Furthermore, in response to the growing diabetes and lifestyle diseases, the government of the developing countries, such as China, and India, are preparing action plans in order to expand diabetes screening at the primary health-care level, train health-care workers, and take preventative measures. Thus, such initiatives plans are expected to support the growth of human insulin market in APAC.

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Furthermore, the World Health Organization (WHO) developed the action plan for the prevention and control of non-communicable diseases (NCDs) in South-East Asia 2013–2020. This plan provided a roadmap for the implementation of policies and programmes at regional and national level, thus fueling the human insulin market growth in the region.

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Some of the other key players operating in the human insulin industry are B. Braun Melsungen AG; Becton, Dickinson and Company; Eli Lilly and Company; Novo Nordisk A/S; Sanofi; Wockhardt Limited; Biocon Limited; Medtronic plc; and Gulf Pharmaceutical Industries (Julphar).
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Last Updated February 11, 2019