ASIA-PACIFIC HUMAN INSULIN MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

ASIA-PACIFIC HUMAN INSULIN MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The Asia-Pacific Human Insulin Market is expected to register a CAGR greater than 2% by the forecast period (2022-2027).

During the COVID-19 crisis, the Asia-Pacific diabetes market saw a gradual growth in demand for diabetic medications. According to a 2021 BeatO research on 800 participants, patients with COVID -19 and pre-existing diabetes suffered blood glucose level changes, resulting in a significant need for advanced diabetic medicines. To mitigate the disastrous impact of COVID-19, Novo Nordisk has established a new social responsibility plan to combat diabetes, intending to provide patients in every nation with access to affordable diabetic care.

Diabetes patients, particularly those with type 2 diabetes, have increased rapidly in Asian nations during the last few decades. Developing nations account for more than 70% of the worldwide diabetes population. The Asia-Pacific region is expected to develop significantly due to an aging population and rising diabetes prevalence, mostly as a result of increased stress, sedentary lifestyles, smoking, and excessive alcohol intake, which raises the body's sugar levels. Furthermore, the production base of key anti-diabetic medicine businesses in the region aided market expansion. However, one of the primary constraining factors for the industry is the rising cost of pharmaceuticals.

The genetic factor is one of the primary reasons for the rapid spread of the disease. Sedentary lifestyles and obesity are the other factors responsible for the high prevalence of the disease. Although insulin has been used for the treatment of diabetes for over 90 years, more than half of those who need insulin today still cannot afford and access it due to the high cost of the product.

Key Market TrendsSurge in Diabetic Population

There would be a massive surge in the diabetic population in the Asia-Pacific region. The burden of diabetes is increasing, and it is expected to grow at a high rate in the Asia-pacific region. The Asia-Pacific region dominates the diabetes market, globally, contributing to 60% of the diabetes population. China and India have the highest diabetes population, especially type-2. China has over 11% of its population suffering from diabetes, and in India, 5% of the population suffers from diabetes. All Type 1 diabetes patients and a limited number of Type 2 diabetes patients require daily insulin injections as part of their treatment.

Poor healthcare infrastructure and utilization and lack of awareness about the disease in other countries of Asia-Pacific have complicated its prevalence. Furthermore, in these areas, most of the cases are uncontrolled or even undiagnosed, until patients get symptoms of complications. Factors, such as lack of awareness about the disease, unbalanced nutrition, and inadequate healthcare infrastructure and utilization, are restraining the insulin market in the region.

As of 2021, the prevalence rates for diabetes ranged from 12% to 19% of the population in several countries in the region. Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the Market.

China dominates the Asia-Pacific Human Insulin Market

China is anticipated to hold the largest market share and is expected to maintain its dominant position during the forecast period, owing to huge patient pools and the ease in the regulatory process for insulin biosimilar drugs in the country. The incidence of type-2 diabetes (T2D) has rapidly increased over recent decade, and T2D has become a leading public health challenge in China. There is a considerable rise in the biosimilar drugs market in the Asia-Pacific, and China's Gan&Lee Basalin occupies almost 40% of the overall Glargine market. The country is witnessing a significant increase in the number of generic drug manufacturers. Furthermore, the leading global players in the market studied are facing intense competition from the regional players.

Competitive Landscape

The Asia-Pacific human insulin market is highly consolidated, with three major manufacturers having a large market share. However, many local companies have brought biosimilar insulin into the market at a much cheaper price. Mergers and acquisitions that happened between the players in the recent past helped the companies to strengthen their market presence. Sandoz partnered with Gan&Lee for the commercialization of insulin developed by Gan&Lee. Sandoz is likely to be fully responsible for commercializing these medicines in the EU, the United States, Switzerland, Japan, South Korea, Canada, Australia, and New Zealand.

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