HUMAN INSULIN MARKET: SEGMENTATION, INDUSTRY TRENDS AND DEVELOPMENT TO 2027
Human Insulin Market Analysis: Information by Type (Traditional Human Insulin (Premixed Traditional, Intermediate Acting, and Short-Acting), Modern Human Insulin (Premixed Modern, Long-Acting and Rapid Acting) and Brand (Lantus, Novorapid, Humalog, Novomix, Levemir, Apidar, Humulin and Insuman)) and Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa) - Global Forecast till 2025
Global Human Insulin Market is anticipated to reach USD 90,812.40 million by 2025 to grow CAGR of 12.10% Human Insulin is synthetic insulin which is manufactured in the laboratory, the scientists works on increasing the protein in the insulin. An e.coli bacterium is used to increase the insulin protein. Human insulin can be orchestrated with the help of insulin devices or orally. The devices used for the infusions are insulin pumps, syringes, and injection pens.
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The global human insulin market has been segmented based on type, methods, indication, and end users. By type, the market has been segmented into accessories and devices. By methods, the market has been segmented into traditional human insulin and modern human insulin. By indication, the market has been segmented into type 1 diabetes and type 2 diabetes. By end users, the market has been segmented into hospitals, forensic laboratories, research centers, and others.
The global human insulin market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa. North America accounts for the largest share of the global human insulin market owing to high health care spending, the presence of major players in the region who invest more money in R&D activities and inclination towards quality healthcare. The US is the largest market in the region followed by Canada while South America is expected to be the fastest growing region. The Europe market for human insulin is strong and is driven by the presence of a large pool of patients and the availability of funds for research and development in countries such as Germany. Asia Pacific market growth is supported by the presence of a vast patient base and rising prevalence of diabetes in the region. Improvement in healthcare infrastructure in countries such as China, India, and Japan is key to the growth of the market. Moreover, Asia Pacific hosts a huge geriatric population who are at more risk of acquiring diabetes. The Middle East & Africa market is expected to exhibit steady growth over the forecast period. Countries such as United Arab Emirates (U.A.E.), Saudi Arabia, and Oman have a robust healthcare infrastructure which drives the market in the Middle East while in Africa, weak economic conditions and under-developed healthcare sector deters the growth of the market.
The notable players operating in the global human insulin market include Biocon Ltd, ADOCIA, Julphar, Bristol-Myers Squibb Company, Oramed Pharmaceuticals, Inc, Sanofi, Tonghua Dongbao Pharmaceuticals Co., Ltd., Merck & Co, Pfizer, Inc, GlaxoSmithKline, and Novo Nordisk A/S.
In August 2018, Monarch Medical Technologies, a leading provider of electronic systems for inpatient glycemic management received US patent for its approach to inpatient insulin therapy. The approach has already been granted class II FDA clearance and underlines the uniqueness of the EndoTool technology.
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