In 2019-2024 the human insulin market is anticipated to record a CAGR of 4.93% and is estimated to achieve USD 25.7 billion by 2019. Diabetes is usually regarded as a lifestyle disease. The incidence of this disease has risen over time, with the rise of the world’s population. Around 100 million people around the world, including all those with Type 1 diabetes and 10-25 percent of those with Type 2 diabetes, need insulin. While insulin has been used for more than 90 years in the treatment of diabetes, more than half of people who require insulin today still have no access to it. People with type 1 diabetes need insulin therapy to avoid complications, focused on the management of blood sugar concentrations together with insulin, diet, and lifestyle.
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Scope of the Report
The market is segmented by product type basal or long-acting insulins, bolus or fast-acting insulins, traditional human insulins, combination insulins, and biosimilar insulins and geography.
Key Market Trends
Growing Obesity and Diabetes Prevalence of Type 2, Especially in Developing Countries
While the exact cause of type 1 diabetes is unknown, lifestyle changes every day are the cause of type 2 diabetes. In comparison with 40 years ago, the incidence rate of Type 2 diabetes quadrupled. Although oral medicines are deemed to be normal treatments for Type 2 patients, the need for insulin and conventional medicines to assist stabilize blood glucose concentrations has increased. This trend attracted many local and foreign players to join the biosimilar market.
Over the last two decades, the prevalence of type 2 diabetes mellitus T2DM has increased dramatically, driven by increasing obesity prevalence and the main risk factor of T2DM. Diabetes is one of America’s fast-growing chronic diseases.
India is among the top three countries with a high incidence of diabetes. Many reports and surveys have documented a drastic increase in diabetic population-based on lifestyle habits. Significant urbanization has enabled physical inactivity and diabetes is a major health concern.
The research and development of insulin segments are increasing year by year, as researchers try to produce the best molecule for use in patients, limiting maximum secondary effects and increasing their efficiency. As a result, the growing incidence of obesity and diabetes worldwide will probably increase the significant demand for insulin, which could lead to a worldwide insulin therapy market.
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North America Dominates the Market
North America dominates the global human insulin market, especially the United States, owing to the high prevalence of diabetes in the region, because of a sedentary lifestyle and launch of new drugs in the region.
The cost factor is the major concern in the United States, where almost 50% of the insulin revenues for the manufacturers are from the country itself.
Asia-Pacific is expected to grow tremendously during the forecast period, owing to factors, such as the high prevalence of obesity and rising awareness regarding diabetes care in the region.
The global human insulin market is strongly consolidated with three major global manufacturers, and the remainder is confined to the other local or regional manufacturers.
Fusions and acquisitions between players have recently helped companies reinforce their presence on the market. Eli Lilly and Boehringer Ingelheim have an alliance for Basaglar Insulin Gélargissementine development and marketing.
Name: Jennifer Daniel
Organization: Planet Market Reports