Insulin is a protein hormone that helps control the blood sugar level in patients whose bodies cannot produce enough insulin. Insulin lowers the glucose level in the blood by increasing glucose uptake into fatty tissues and muscles. It can be injected into the legs, back of arms, abdomen, or buttocks. In addition, insulin not only helps manage diabetes but also helps acute complications of diabetes such as hyperosmolar hyperglycemic states and diabetic ketoacidosis. The devices that help deliver insulin in the patient’s body include insulin syringes, insulin pumps, insulin pens, insulin inhalers, and insulin jet injectors.
What Are the Market Drivers for Human Insulin?
The human insulin market is being driven by a number of factors, including:
- Growing prevalence of diabetes: The increasing incidence and prevalence of diabetes worldwide is one of the major drivers of the human insulin market. According to the International Diabetes Federation, the global prevalence of diabetes is expected to reach 10.9% by 2045, up from 8.5% in 2019.
- Technological advancements in insulin delivery devices: The development of advanced insulin delivery devices such as insulin pens, insulin pumps, and insulin jet injectors is driving the growth of the human insulin market. These devices offer more precise dosing and make insulin administration easier and more convenient for patients.
- Increasing awareness about diabetes and its management: The rising awareness about diabetes and the importance of its management, including the use of insulin therapy, is driving the growth of the human insulin market. Governments and healthcare organizations are increasingly focusing on raising awareness about diabetes and providing education to patients on the importance of early diagnosis and management of the disease.
- Increasing R&D activities: The growing investments in research and development activities by pharmaceutical companies to develop new and more effective insulin therapies are driving the growth of the human insulin market. There is a significant focus on the development of biosimilars, or generic versions of biologic drugs, to lower the cost of insulin therapy.
- Increasing healthcare expenditure: The increasing healthcare expenditure by governments and private organizations to improve healthcare infrastructure and provide better treatment options to patients is driving the growth of the human insulin market.
Overall, the human insulin market is expected to continue to grow in the coming years, driven by these and other factors. The rising prevalence of diabetes and increasing investments in research and development activities are expected to create new opportunities for growth in the market.
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Top Key Players of Human Insulin Market
- ALBIREO PHARMA, INC.
- B. BRAUN MELSUNGEN AG
- BECTON, DICKINSON AND COMPANY
- BIOCON LIMITED
- SANOFI S.A.
- WOCKHARDT LIMITED
- JULPHAR
- YPSOMED HOLDING AG
- ELI LILLY AND COMPANY
- NOVO Nordisk A/S
Human Insulin Market Segmentation can be done based on several factors, including:
BY PRODUCT TYPE
- HI DRUGS
- HI DELIVERY DEVICES
BY DRUG TYPE
- HI BIOLOGICS
- HI BIOSIMILARS AND ANALOGS
BY DELIVERY DEVICE
- SYRINGES
- PENS
- PEN NEEDLES
BY APPLICATION
- TYPE I DIABETES
- TYPE II DIABETES
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