North America Human Insulin Drugs Market - By Product (Human Insulin, Basal Insulin, Bolus Insulin, Insulin Combinations, Biosimilar Insulins); By Application (Product I Diabetes, Product II Diabetes); By Country (United States, Canada), Trend Analysis, C

North America Human Insulin Drugs Market - By Product (Human Insulin, Basal Insulin, Bolus Insulin, Insulin Combinations, Biosimilar Insulins); By Application (Product I Diabetes, Product II Diabetes); By Country (United States, Canada), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

North America Human Insulin Drugs Market Size Grows Steadily to Touch USD 10.3 Billion by 2029

North America human insulin drugs market is flourishing because of an increasing prevalence of type 2 diabetes cases, growing geriatric population, and changing lifestyle.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated North America human insulin drugs market size at USD 8.58 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects North America human insulin drugs market size to grow at a significant CAGR of 2.71% reaching a value of USD 10.27 billion by 2029. Major growth factors of North America human insulin drugs market include increasing prevalence of diabetes in the region and a growing demand for advanced treatments for diabetes. Other factors like the aging population, changing lifestyles, and increased awareness about diabetes and its management also play a crucial role in the growth of the market. Studies have revealed that the incidence of type 2 diabetes and other forms of diabetes is higher in individuals with COVID-19 in North America. Additionally, even individuals without a history of diabetes who have recovered from SARS-CoV-2 infections show insulin resistance and impaired insulin secretion. Therefore, there is a suggestion for an integrated approach to the diagnosis and treatment of post-COVID syndrome, rather than focusing only on the disease itself. Also, due to a sedentary lifestyle and the introduction of new drugs in the region, North America has a high prevalence of diabetes, which has resulted in its dominance of the global insulin therapeutics market. The United States is expected to experience significant growth during the forecast period owing to high obesity rates and increasing awareness of diabetes care. Hence, it is expected that the North America human insulin drugs market will experience growth during the period in analysis. However, high costs associated with the manufacturing of insulin drugs are anticipated to restrain the growth of overall market.

North America Human Insulin Drugs Market – Overview

The beta cells in the pancreas produce insulin, which is a hormone that plays a crucial role in regulating glucose levels by controlling the body's systems and facilitating the uptake of amino acids by cells. Its function is to assist in the absorption of glucose from the blood. When an individual experiences high blood glucose levels, it is considered a polygenic disorder or a medical condition that damages the tissues in the body and can lead to severe health complications such as diabetic nephropathy and diabetic retinopathy. Type 1 diabetes is a condition in which the body does not produce enough insulin to regulate glucose levels, necessitating daily insulin injections.

Impact of COVID-19 on North America Human Insulin Drugs Market

COVID-19 pandemic adversely affected the North America human insulin drugs market. The pandemic led to disruptions in the global supply chain, including the manufacturing and distribution of insulin drugs. It resulted in shortages of insulin drugs in some regions, leading to challenges in accessing critical medication for diabetic patients. Also, the pandemic also led to changes in healthcare delivery systems, with an increased focus on telemedicine and virtual consultations. This shift has impacted the way patients access and receive insulin treatment. Patients may find it challenging to visit healthcare facilities for routine checkups and may rely more on telemedicine consultations to receive their insulin prescriptions. The economic impact of the pandemic has led to financial strains on individuals and healthcare systems, affecting their ability to afford insulin drugs. The high cost of insulin drugs coupled with job losses and economic uncertainty may lead to patients rationing or skipping doses, leading to poor health outcomes. However, COVID-19 led to increased awareness of the importance of managing chronic conditions, such as diabetes, leading to a greater emphasis on preventative measures and early intervention. This could potentially drive demand for insulin drugs in the long run.

North America Human Insulin Drugs Market – By Product

Based on product, North America human insulin drugs market is segmented into Human Insulin, Basal Insulin, Bolus Insulin, Insulin Combinations, and Biosimilar Insulins. The Basal Insulin segment holds the highest market share in the North American region, primarily because several pharmaceutical companies have launched new products. One example is Novo Nordisk, which recently introduced unbranded versions of Tresiba analogue insulin. This development is expected to increase patients’ access to more affordable insulin options. Tresiba is a type of ultralong-acting basal insulin analog called insulin degludec, which was approved by the U.S. Food and Drug Administration (FDA) in July of 2022.

Competitive Landscape

Major players operating in North America human insulin drugs market Novo Nordisk A/S, Sanofi S.A., Eli Lilly and Company, Biocon Limited, Pfizer Inc., Wockhardt, Julphar, and Sedico. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of North America Human Insulin Drugs Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in North America Human Insulin Drugs Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.