Human Insulin Market Forecasts to 2028 – Global Analysis By Product Type (Traditional Human Insulin, Insulin Analogs and Biosimilars and Other Product Types), Diabetes Type (Type I Diabetes, Type II Diabetes and Other Diabetes Types), Distribution Channel

Human Insulin Market Forecasts to 2028 – Global Analysis By Product Type (Traditional Human Insulin, Insulin Analogs and Biosimilars and Other Product Types), Diabetes Type (Type I Diabetes, Type II Diabetes and Other Diabetes Types), Distribution Channel and By Geography

According to Stratistics MRC, the Global Human Insulin Market is accounted for $18.7 billion in 2022 and is expected to reach $24.8 billion by 2028 growing at a CAGR of 4.7% during the forecast period. Human insulin (HI) is a short-acting form of insulin used to treat hyperglycemia caused by type-1 and type-2 diabetes. It is produced by recombinant DNA technology and identical to endogenously made insulin. It is used to take the place of insulin generally produced by the body and aids in insulating sugar from the blood into other body tissues, wherein it is utilized for energy. Insulin is a hormone made by the beta cells of the pancreas. It plays a vital role in the regulation of glucose levels. It controls the body’s systems and regulates the uptake of amino acids by body cells.

According to the Centers for Disease Control and Prevention, around 1.6 million adults aged 20 years or older have Type 1 diabetes and use insulin. According to the Asian Diabetes Prevention Initiative, people in Asia are at a high risk of developing diabetes due to lifestyle and diet trends.

Market Dynamics:

Driver:

Growing Diabetes Prevalence

The proportion of the population suffering from obesity and diabetes has increased significantly due to change in lifestyle and dietary habits. There has been a remarkable development in insulin production technology which is escalating its adoption rate. Newer technologies like recombinant DNA technology have enabled mass production of insulin to meet the huge demand. Consequently, this has made insulin reasonable and available to reach a wider population.

Restraint:

High cost

The patients suffering from diabetes need to take insulin supplements frequently, forever for their lifetime this puts a financial burden on the individuals. The need for highly skilled manpower and complicated manufacturing infrastructure increases the manufacturing cost. The high cost of insulin analogs is the major factor hindering the human insulin market growth. Furthermore, strict regulatory requirements for insulin approval are also a potential restraining factor.

Opportunity:

Rising Investments in R&D Activities

The rising investments in research and development activities by several organisations have led to an advanced and easier way of injecting insulin, which is boosting the market growth. In addition, the introduction of the safety pen devices and pen needles for effective delivery of insulin, growing awareness of diabetes is expected to bolster the demand. The significant improvements in the healthcare infrastructure and extensive research and development (R&D) activities in the field of biotechnology conducted by leading industry players are strengthening the growth of the market.

Threat:

Strict regulations

There are severe regulations in place for drug approvals. Medical device regulations must be improved so that users can achieve high-quality, effective, and safe technology. The growing number and modernization of medical devices have led to new regulatory challenges. The demand-supply ratio is also getting adversely affected due to the time taken for approval of drugs. These factors are bound to restrain the human insulin market.

Covid-19 Impact

Covid-19 had a reflective impact on the human insulin market. Due to restrictions in travel and movement of goods, there were wide disruptions in the supply chain. Moreover, the temporary shutdown of manufacturing units to curb the virus spread decreased the production rate. Thus, there was a huge shortage of human insulin worldwide for a short period. Lockdowns arising from the epidemic forced people to put off getting their health checked, reducing the amount of tests performed and reagent sales. However, as governments gradually loosen travel restrictions, there is a rebound in testing numbers.

The insulin analogs and biosimilars segment is expected to be the largest during the forecast period

The insulin analogs and biosimilars segment is estimated to have a lucrative growth, due to the higher efficiency of insulin and minimal adverse effects, such as hypoglycemia attacks and lower weight gain, as compared to conventional therapy. It has better observance to therapy and glycemic control. In addition, it does not pose as much a risk of hypoglycemia compared to traditional products, owing to the presence of more effective insulin analogs, the sales and prescription rate of these products are expected to refuse over the forthcoming years.

The retail & online pharmacies segment is expected to have the highest CAGR during the forecast period

The retail & online pharmacies segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rising burden of disease, the feasibility of home care patients, and various discounts offered by retail pharmacies. The comfort, flexibility, and convenience provided by online purchase of medications are major factors driving the segment. In addition, the discounts offered by online pharmacies attract patients to purchase medications online, the rising hospitalization of diabetic patients are also expected to fuel market growth.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to due to factors such as rising geriatric & target populations, increasing number of collaborations for the development of biosimilars, geographic expansion of key players, and active participation of government and non-profit organizations in the market space. Additionally, health awareness campaigns and scientific conferences for the management of this disease may fuel market growth in the region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the factors like growing old age population, rising prevalence of diabetes, increasing healthcare awareness, improvement in reimbursement policies, and surge in clinical trials. The robust presence of the major insulin manufacturers, strong competition among the companies and increasing prevalence of type-1 diabetes are some aspects enhancing the region growth.

Key players in the market

Some of the key players profiled in the Human Insulin Market include Eli Lilly and Company, Novo Nordisk A/S, Tonghua Dongbao Pharmaceutical Co. Ltd., Julphar, Biocon Ltd, Sanofi, United Laboratories International Holdings Limited, Pfizer, Inc., Boehringer Ingelheim International GmbH, Wockhardt, Bristol-Myers Squibb Company., Oramed Pharmaceuticals, Inc., GlaxoSmithKline Plc., Gan & Lee Pharmaceuticals Co Ltd., Ypsomed AG and Shanghai Fosun Pharmaceutical Co., Ltd.

Key Developments:

In November 2021, Novo Nordisk A/s acquired Dicerna Pharmaceuticals, including its Dicerna’s ribonucleic acid interference (RNAi) platform, in addition to Novo Nordisk’s research technology platforms used across all therapeutic areas.

In February 2021, Biocon Biologics partnered with the International Diabetes Federation (IDF) as the first biosimilar insulin company to promote and support IDF’s important mission initiative. The collaboration marks the start of the centennial commemoration of the invention of insulin and advances Biocon Biologics’ aim of providing inexpensive insulin to individuals with diabetes around the world.

Product Types Covered:
• Traditional Human Insulin
• Insulin Analogs and Biosimilars
• Others Product Types

Diabetes Types Covered:
• Type I Diabetes
• Type II Diabetes
• Other Diabetes Types

Distribution Channels Covered:
• Retail & Online Pharmacies
• Hospitals Pharmacies
• Other Distribution Channels

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements