Human Insulin Market is Meritoriously Growing at a CAGR of 12.1% During Forecast 2017-2023
The global human insulin
market is predicted to garner a CAGR of 12.1% during the forecast
period (2017-2023), Market Research Future (MRFR) reveals in the
latest report. Human insulin can be defined as a synthetic, which is largely
manufactured in laboratories by developing insulin protein with E. coli
bacteria.
The Human Insulin Market is expected to witness a sturdy growth
in the foreseeable future, mainly due to the surging prevalence and occurrence
of Diabetes Mellitus. The soaring prevalence of obesity and changing lifestyle
are the root causes of widespread diabetes, which induces demand from the human
insulin market.
Human
insulin is a form of synthetic insulin that is grown to mimic human insulin.
Before the development of human insulin, which was first approved for
pharmaceutical use in 1982, pig insulin was the most common solution in use.
Human insulin is generated by growing insulin proteins within the E. coli
bacteria. The growing development of the medical research sector has proven
highly beneficial for the global human insulin market, as increasing efforts
have been made for the development of highly sophisticated human insulin
products.
The
growing prevalence of diabetes is likely to be the major driver for the global
human insulin market over the forecast period. The threat of diabetes has grown
in developed countries as a result of the increasing consumption of sugar-rich,
unhealthy foods, allied to a mostly sedentary lifestyle. The increasing
Westernization of the dietary patterns in developing countries has also led to
a significant growth in the prevalence of diabetes in emerging regions such as
Asia Pacific, which is likely to drive the human insulin market over the
forecast period.
Competitive Dashboard:
·
Biocon Ltd
·
Merck & Co
·
ADOCIA
·
Pfizer
·
Julphar
·
GlaxoSmithKline
·
Bristol-Myers Squibb Company
·
Novo Nordisk A/S
·
Oramed Pharmaceuticals
·
Sanofi
Human Insulin Market:
Segmental Analysis
The
human insulin market is segmented on the basis of indication, type, and
end-users.
By
type, the human insulin market is segmented into traditional human insulin and
modern human insulin. Of these, modern human insulin offers effective results
compared to traditional human insulin. Duration and dosages of modern human
insulin vary from one person to another, as insulin requirement differs.
By
indication, the human insulin market is segmented into type 1 diabetes and type
2 diabetes.
By
end user, the market comprises hospitals & clinics and research institutes.
Regional Frontiers
Considering the global
scenario, America will lead the global market for human insulin. The growth is
mainly driven by the surging healthcare spending, inclination towards quality
healthcare, and existence of leading players in the market. South America is
anticipated to be the fastest expanding region due to soaring funding for
R&D activities by some of the major players in the region.
The human insulin market in Europe is largely
driven by research funding in diabetes diagnosis, and its treatment as a major
part of the population suffers from diabetes. The market in Germany is driven
by the surging support by the government for R&D activities, along with a
huge demand for human insulin in the region. Moreover, the rising incidences of
unhealthy lifestyle and obesity among the people are increasing the risk of diabetes
among the population.
Asia Pacific region will witness
significant growth in the coming years, mainly due to the increasing awareness
regarding human insulin and the presence of a huge population base. In this
region, India, China, and Japan are considered the major contributors owing to
the improvement in disease diagnosis and treatment services. The presence of huge
geriatric population who are diagnosed with diabetes also contributes to the growth
of the regional market. India, on the other hand, is considered the hub of
diabetes and experiences the fastest growth, with the majority of people facing
the problem of obesity and its associated diseases.
Industry Updates
July
2019: Led by Prof. Norman Metanis, a team of researchers from the Institute of
Chemistry at Hebrew University has developed an entirely new process which
allows chemical production with human insulin. This propels the stability and
effect on the hormonal balance in the body of a human.
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