Human Insulin Market – Trends forecast Till 2030

Market Snapshot

Market Overview

The global Human Insulin market size was estimated at USD 25.96 billion in 2023 and is projected to reach USD 33.38 billion in 2030 at a CAGR of 3.2% during the forecast period 2023-2030.

Human Insulin or Insulin is a hormone produced in the human pancreas that regulates the amount of glucose (sugar) in the bloodstream and the metabolism of fats, proteins and carbohydrates in the human body. Insulin is available in different strengths; the most common is U-100, which is used as a dietary and exercise supplement to improve glucose balance in children and adults.

The growth of the global market is attributed to key factors such as increasing demand for human insulin analogues and affordable reimbursements. Technological innovations in human insulin delivery devices are also boosting the market. For example, in August 2020, the US FDA approved the MiniMed 770G, an innovative diabetes management device. This device automatically monitors glucose levels and delivers the correct basal insulin doses to pediatric patients with type 1 diabetes with minimal client (caregiver) input.

The COVID-19 pandemic has significantly affected the human insulin drug market. Patients with type 1 diabetes were more affected during Covid-19. Diabetics have a weak immune system, so in case of COVID-19, the immune system weakens very quickly. Diabetics are more likely to develop serious complications than the general population. In the midst of the pandemic, there have been delays and disruptions in the supply of medicines due to strategies designed to contain the spread of SARS-CoV-2. In addition, hospitals reported a decrease in insulin prescriptions. However, in several countries, the impact of COVID-19 decreased after the second quarter of 2021, helping the market to pull back.

Delvens Industry Expert's Standpoint

The global market is driven by advances in technology, increasing R&D funding, increasing government support and prevalence of diabetes. In addition, R&D's role in the insulin market is increasing as researchers around the world strive to develop a better insulin molecule for diabetics that increases efficacy and reduces side effects. In addition, the market is expected to grow in the absence of drug cap rules, which will result in several major pharmaceutical companies raising the prices of generic drugs, including insulin. Global market players can also capitalize on the opportunities in the premixed insulin segment due to its ease of use and portability, as well as premixed insulin delivery devices.

Market Portfolio

Key Findings

• By product, the human insulin market is divided into two main segments: drugs and dosing devices. The human insulin drug segment is expected to account for the largest share of the global market by product in 2022. Behind this high share is, among other things, the growth of the population with diabetes worldwide, the increasing research and development of drug research and development, and the growing share of the aging population. population trends in developed countries, increased access to generic human insulin products worldwide, and government initiatives to support the development and commercialization of effective biosimilars.
   
• The application segment is further bifurcated into type-1 and type-2 diabetes. The largest segment by application is type 1 diabetes mellitus, due to the high insulin dependency of these patients. It is a more severe condition than type 2 diabetes. According to the International Diabetes Federation, around 10% of all individuals with diabetes have type-1 diabetes.

• By product type, the human insulin device market is divided into three segments: pens, pen needles and syringes. The pen segment is expected to account for the largest market share in 2022; it will be the fastest growing segment in the next five years. Its rapid growth is due to the increasing market focus of ballpoint pen manufacturers moving towards insulin pen production on developing countries such as China, India and Brazil; significant medical benefits for human insulin pens in mature markets such as the US and Europe; and continued product development and product marketing of innovative human insulin pens.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. In North America due to the dominance of branded products and the increasing prevalence of disease in the region.

Regional Analysis

North America to Dominate the Market

• North America is estimated to account for the largest market share during the forecast period due to the dominance of branded products and the increasing prevalence of disease in the region.
   
• Moreover, the strong presence of some of major players Novo Nordisk A/S, Eli Lilly and Company, and Sanofi is expected to boost the North American market growth.

Competitive Landscape

• Novo Nordisk A/S
• Eli Lilly and Company
• Sanofi
• Pfizer Inc.
• Biocon Ltd
• Wockhardt
• Boehringer Ingelheim International GmbH
• Julphar
• United Laboratories International Holdings Limited
• Tonghua Dongbao Pharmaceutical Co. Ltd.
• Exir
• Sedico
• Bristol-Myers Squibb Company
• GlaxoSmithKline Plc
• Oramed
• Adocia
• Merck & co. Inc

Recent Developments

• November 2022: The U.S. Food and Drug Administration approved Tzield (teplizumab-mzwv) injection to delay the onset of stage 3 type-1 diabetics and pediatric patients 8 years of age and older who were stage 2 type-1 diabetics.
   
• May 2022: The FDA approved Lilly’s new medication Mounjaro (also known as tirzepatide) for type-2 diabetes management in addition to diet and exercise. This first-in-class medication showed improvement in glucose levels and also dramatically improved weight in clinical trials.

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for the Human Insulin Market to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope