Human insulin is also known as synthetic insulin which is prepared in laboratory and has same characteristics like natural insulin. Human insulin was developed through the 1960s and 1970s and approved for pharmaceutical use in 1982. Before the invention of human insulin animal insulin, usually a purified form of porcine was used.
According to a recent study report published by the Market Research Future, the global market for Human Insulin Market is expected to reach up to $40 billion by the end of the forecasted period and is expected to grow at a CAGR of ~10-12% during the forecast period.
Today, approximately 100 million people around the world need insulin, including all people living with type 1 diabetes and between 10-25 percent of people with type 2 diabetes. Although recombinant human insulin has been used in the treatment of diabetes for over 90 years, globally more than half of those who need insulin today still cannot afford it. Without insulin, people living with type 1 diabetes will die. Many more will suffer from diabetes-related complications, like blindness, amputation and kidney failure, and, ultimately, premature death. There are many complex issues that affect access to this life-saving medicine, creating inequity and inefficiency in the global insulin market. These issues include the global insulin market domination by three multinational manufacturers, import duties affecting the price insulin entering different countries, and mark-ups, taxes and other charges in the public and private sector supply chains that affect the final patient price.
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Global Human Insulin market has been segmented on the basis of
- Modern human insulin
- Long acting human insulin
- Rapid acting human insulin
- Premixed human insulin
- Traditional human insulin
- Short acting human insulin
- Intermediate acting human insulin
- Modern human insulin
Human Insulin Market – Regional Analysis
Geographically, North America has the largest share in global human insulin market; large share of this market is attributed to the growing prevalence of diabetes and obesity. The North American market for human insulin is expected to grow at a significant rate of CAGR and is expected to reach at multimillions of USD by the end of the forecasted period. Europe is the second-largest market for human insulin, which is expected to grow at a Considerable rate of CAGR. Asia-Pacific has emerged as the fastest growing region.
Human Insulin Market Players
- Biocon Ltd. (India),
- Tonghua Dongbao Pharmaceuticals Co.,
- Adocia (France.),
- Merck & Co. (U.S.),
- Julphar (UAE),
- Bristol-Myers Squibb Company (U.S.).
among others are some key companies in the global Human Insulin that are listed by MRFR for market research.
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1 Report Prologue
2 Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3 Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
4.4 Macroeconomic Indicators
4.5 Trends & Assessment
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