Insulin is a pharmaceutical preparation used to control high blood glucose (blood sugar level). Insulin is used to control blood sugar in people with type 1 diabetes and type 2 diabetes. Human insulin is used to take the place of insulin that is normally produced by the body. Insulin drugs are used to control blood sugar in people with diabetes with a proper diet and exercise program. Insulin drugs are mostly used to treat type 1 diabetes, but can be used to treat type 2 diabetes if insulin levels remain low despite the use of other types of drugs.
Market Statistics:
The global human insulin drug market is estimated to account for US$ 45,700.4 Mn in terms of value by the end of 2022.
Drivers:
Increase in prevalence of diabetes around the world is expected to propel growth of the global human insulin drug market over the forecast period. For instance, according to the International Diabetes Federation (IDF), 2021 report, around 537 million adults (age 20-79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Prevalence of diabetes has been rising more rapidly in low- and middle-income countries than in high-income countries. Thus, with the rise in prevalence of diabetes, the demand for insulin drugs is also increasing with a rapid pace.
Opportunities:
Increase in adoption of insulin drugs due to increase in awareness among people is expected to provide significant growth opportunities for players in the global human insulin drug market. For instance, in September 2020, Biocon Biologics has launched Semglee (insulin glargine injection) in the US. The drug helps control high blood sugar in adults and children with type 1 and type 2 diabetes. Semglee, which received final approval from the US Food and Drug Administration (FDA) in June, has an identical amino acid sequence to Sanofi’s Lantus.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/human-insulin-drug-market-5316
Restraints:
High cost of insulin and lack of awareness among people are major factors expected to hamper the growth of the global human insulin drug market. For instance, hypoglycaemia (low blood sugar level) is where the blood sugar level (blood glucose) drops too low. Hypoglycemia is a serious and common complication of diabetes, particularly affect individuals with diabetes on insulin treatment. It mainly affects people with diabetes. Moreover, according to a new RAND Corporation study published in October 2020, insulin prices are higher in the United States than in 32 high-income countries combined.
Global Human Insulin Drug Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 (an infectious disease caused by the SARS-CoV-2 virus) affects different people in different ways. COVID-19 triggers insulin resistance in patients, causing chronic metabolic disorders that were non-existent prior to infection. According to IDF, older people and people with pre-existing medical conditions (such as diabetes and heart diseases) appear to be more vulnerable to becoming severely ill with the COVID-19 virus. Moreover, People with diabetes have a weakened immune system, which may put people at a higher risk of serious illness from COVID-19 (coronavirus).
Key Takeaways:
The global human insulin drug market was valued at US$ 42,283.9 Mn in 2021 and is forecast to reach a value of US$ 73,127.2 Mn by 2028 at a CAGR of 8.1% between 2022 and 2028.
Among product type Human Insulin segment held dominant position in the global human insulin drug market in 2021, accounting for 40.0% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
One of the major trends in the market is the increase usage of insulin drugs worldwide. People with diabetes require insulin as part of their treatment. Therefore, there has been an increase in the demand for insulin drugs worldwide as the prevalence of diabetes is also increasing rapidly, especially in low- and middle-income countries as compared to in high-income countries. As a result, market players are focusing on launching novel drugs in the market, and this trend is expected to continue over the forecast period.
Competitive Landscape:
Major players operating in the global human insulin drug market include Wockhardt, SEDICO, Exir, Julphar, Biocon, Eli Lilly, Sanofi Aventis, and Novo Nordisk AS, among others.
Recent Developments:
In April 2022, Glenmark Pharmaceuticals Limited launched a novel fixed-dose combination (FDC) of a DPP4 inhibitor (Dipeptidyl Peptidase 4 inhibitor), Teneligliptin, with Pioglitazone. It has launched this FDC under the brand name Zita Plus Pio, which contains Teneligliptin (20 mg) + Pioglitazone (15 mg), to be taken once a day.
In April 2018, Eli Lilly and Sigilon Therapeutics joined forces to develop encapsulated cell therapies for the treatment of Type 1 diabetes.
