PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209802
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209802
Human Insulin Market Forecasts to 2028 - Global Analysis By Product Type, Diabetes Type, Distribution Channel and By Geography
According to Stratistics MRC, the Global Human Insulin Market is accounted for $18.7 billion in 2022 and is expected to reach $24.8 billion by 2028 growing at a CAGR of 4.7% during the forecast period. Human insulin (HI) is a short-acting form of insulin used to treat hyperglycemia caused by type-1 and type-2 diabetes. It is produced by recombinant DNA technology and identical to endogenously made insulin. It is used to take the place of insulin generally produced by the body and aids in insulating sugar from the blood into other body tissues, wherein it is utilized for energy. Insulin is a hormone made by the beta cells of the pancreas. It plays a vital role in the regulation of glucose levels. It controls the body's systems and regulates the uptake of amino acids by body cells.
According to the Centers for Disease Control and Prevention, around 1.6 million adults aged 20 years or older have Type 1 diabetes and use insulin. According to the Asian Diabetes Prevention Initiative, people in Asia are at a high risk of developing diabetes due to lifestyle and diet trends.
Market Dynamics:
Driver:
Growing Diabetes Prevalence
The proportion of the population suffering from obesity and diabetes has increased significantly due to change in lifestyle and dietary habits. There has been a remarkable development in insulin production technology which is escalating its adoption rate. Newer technologies like recombinant DNA technology have enabled mass production of insulin to meet the huge demand. Consequently, this has made insulin reasonable and available to reach a wider population.
Restraint:
High cost
The patients suffering from diabetes need to take insulin supplements frequently, forever for their lifetime this puts a financial burden on the individuals. The need for highly skilled manpower and complicated manufacturing infrastructure increases the manufacturing cost. The high cost of insulin analogs is the major factor hindering the human insulin market growth. Furthermore, strict regulatory requirements for insulin approval are also a potential restraining factor.
Opportunity:
Rising Investments in R&D Activities
The rising investments in research and development activities by several organisations have led to an advanced and easier way of injecting insulin, which is boosting the market growth. In addition, the introduction of the safety pen devices and pen needles for effective delivery of insulin, growing awareness of diabetes is expected to bolster the demand. The significant improvements in the healthcare infrastructure and extensive research and development (R&D) activities in the field of biotechnology conducted by leading industry players are strengthening the growth of the market.
Threat:
Strict regulations
There are severe regulations in place for drug approvals. Medical device regulations must be improved so that users can achieve high-quality, effective, and safe technology. The growing number and modernization of medical devices have led to new regulatory challenges. The demand-supply ratio is also getting adversely affected due to the time taken for approval of drugs. These factors are bound to restrain the human insulin market.
COVID-19 Impact
COVID-19 had a reflective impact on the human insulin market. Due to restrictions in travel and movement of goods, there were wide disruptions in the supply chain. Moreover, the temporary shutdown of manufacturing units to curb the virus spread decreased the production rate. Thus, there was a huge shortage of human insulin worldwide for a short period. Lockdowns arising from the epidemic forced people to put off getting their health checked, reducing the amount of tests performed and reagent sales. However, as governments gradually loosen travel restrictions, there is a rebound in testing numbers.
The insulin analogs and biosimilars segment is expected to be the largest during the forecast period
The insulin analogs and biosimilars segment is estimated to have a lucrative growth, due to the higher efficiency of insulin and minimal adverse effects, such as hypoglycemia attacks and lower weight gain, as compared to conventional therapy. It has better observance to therapy and glycemic control. In addition, it does not pose as much a risk of hypoglycemia compared to traditional products, owing to the presence of more effective insulin analogs, the sales and prescription rate of these products are expected to refuse over the forthcoming years.
The retail & online pharmacies segment is expected to have the highest CAGR during the forecast period
The retail & online pharmacies segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rising burden of disease, the feasibility of home care patients, and various discounts offered by retail pharmacies. The comfort, flexibility, and convenience provided by online purchase of medications are major factors driving the segment. In addition, the discounts offered by online pharmacies attract patients to purchase medications online, the rising hospitalization of diabetic patients are also expected to fuel market growth.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to due to factors such as rising geriatric & target populations, increasing number of collaborations for the development of biosimilars, geographic expansion of key players, and active participation of government and non-profit organizations in the market space. Additionally, health awareness campaigns and scientific conferences for the management of this disease may fuel market growth in the region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the factors like growing old age population, rising prevalence of diabetes, increasing healthcare awareness, improvement in reimbursement policies, and surge in clinical trials. The robust presence of the major insulin manufacturers, strong competition among the companies and increasing prevalence of type-1 diabetes are some aspects enhancing the region growth.
Key players in the market
Some of the key players profiled in the Human Insulin Market include Eli Lilly and Company, Novo Nordisk A/S, Tonghua Dongbao Pharmaceutical Co. Ltd., Julphar, Biocon Ltd, Sanofi, United Laboratories International Holdings Limited, Pfizer, Inc., Boehringer Ingelheim International GmbH, Wockhardt, Bristol-Myers Squibb Company., Oramed Pharmaceuticals, Inc., GlaxoSmithKline Plc., Gan & Lee Pharmaceuticals Co Ltd., Ypsomed AG and Shanghai Fosun Pharmaceutical Co., Ltd.
Key Developments:
In November 2021, Novo Nordisk A/s acquired Dicerna Pharmaceuticals, including its Dicerna's ribonucleic acid interference (RNAi) platform, in addition to Novo Nordisk's research technology platforms used across all therapeutic areas.
In February 2021, Biocon Biologics partnered with the International Diabetes Federation (IDF) as the first biosimilar insulin company to promote and support IDF's important mission initiative. The collaboration marks the start of the centennial commemoration of the invention of insulin and advances Biocon Biologics' aim of providing inexpensive insulin to individuals with diabetes around the world.
Product Types Covered:
- Traditional Human Insulin
- Insulin Analogs and Biosimilars
- Others Product Types
Diabetes Types Covered:
- Type I Diabetes
- Type II Diabetes
- Other Diabetes Types
Distribution Channels Covered:
- Retail & Online Pharmacies
- Hospitals Pharmacies
- Other Distribution Channels
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Product Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Human Insulin Market, By Product Type
- 5.1 Introduction
- 5.2 Traditional Human Insulin
- 5.2.1 Short-Acting Biologics
- 5.2.2 Intermediate-Acting Biologics
- 5.2.3 Premixed Biologics
- 5.3 Insulin Analogs and Biosimilars
- 5.3.1 Rapid-Acting Biosimilars
- 5.3.2 Long-Acting Biosimilars
- 5.3.3 Premix Biosimilars
- 5.4 Other Product Types
6 Global Human Insulin Market, By Diabetes Type
- 6.1 Introduction
- 6.2 Type I Diabetes
- 6.3 Type II Diabetes
- 6.4 Other Diabetes Types
7 Global Human Insulin Market, By Distribution Channel
- 7.1 Introduction
- 7.2 Retail & Online Pharmacies
- 7.3 Hospitals Pharmacies
- 7.4 Other Distribution Channels
8 Global Human Insulin Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Eli Lilly and Company
- 10.2 Novo Nordisk A/S
- 10.3 Tonghua Dongbao Pharmaceutical Co. Ltd.
- 10.4 Julphar
- 10.5 Biocon Ltd
- 10.6 Sanofi
- 10.7 United Laboratories International Holdings Limited
- 10.8 Pfizer, Inc.
- 10.9 Boehringer Ingelheim International GmbH
- 10.10 Wockhardt
- 10.11 Bristol-Myers Squibb Company.
- 10.12 Oramed Pharmaceuticals, Inc.
- 10.13 GlaxoSmithKline Plc.
- 10.14 Gan & Lee Pharmaceuticals Co Ltd.
- 10.15 Ypsomed AG
- 10.16 Shanghai Fosun Pharmaceutical Co., Ltd
List of Tables
- Table 1 Global Human Insulin Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
- Table 3 Global Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
- Table 4 Global Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
- Table 5 Global Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
- Table 6 Global Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
- Table 7 Global Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
- Table 8 Global Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
- Table 9 Global Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
- Table 10 Global Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
- Table 11 Global Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
- Table 12 Global Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
- Table 13 Global Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
- Table 14 Global Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
- Table 15 Global Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
- Table 16 Global Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
- Table 17 Global Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
- Table 18 Global Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
- Table 19 Global Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
- Table 20 North America Human Insulin Market Outlook, By Country (2020-2028) ($MN)
- Table 21 North America Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
- Table 22 North America Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
- Table 23 North America Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
- Table 24 North America Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
- Table 25 North America Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
- Table 26 North America Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
- Table 27 North America Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
- Table 28 North America Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
- Table 29 North America Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
- Table 30 North America Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
- Table 31 North America Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
- Table 32 North America Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
- Table 33 North America Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
- Table 34 North America Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
- Table 35 North America Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
- Table 36 North America Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
- Table 37 North America Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
- Table 38 North America Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
- Table 39 Europe Human Insulin Market Outlook, By Country (2020-2028) ($MN)
- Table 40 Europe Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
- Table 41 Europe Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
- Table 42 Europe Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
- Table 43 Europe Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
- Table 44 Europe Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
- Table 45 Europe Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
- Table 46 Europe Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
- Table 47 Europe Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
- Table 48 Europe Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
- Table 49 Europe Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
- Table 50 Europe Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
- Table 51 Europe Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
- Table 52 Europe Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
- Table 53 Europe Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
- Table 54 Europe Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
- Table 55 Europe Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
- Table 56 Europe Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
- Table 57 Europe Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
- Table 58 Asia Pacific Human Insulin Market Outlook, By Country (2020-2028) ($MN)
- Table 59 Asia Pacific Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
- Table 60 Asia Pacific Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
- Table 61 Asia Pacific Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
- Table 62 Asia Pacific Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
- Table 63 Asia Pacific Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
- Table 64 Asia Pacific Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
- Table 65 Asia Pacific Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
- Table 66 Asia Pacific Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
- Table 67 Asia Pacific Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
- Table 68 Asia Pacific Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
- Table 69 Asia Pacific Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
- Table 70 Asia Pacific Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
- Table 71 Asia Pacific Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
- Table 72 Asia Pacific Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
- Table 73 Asia Pacific Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
- Table 74 Asia Pacific Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
- Table 75 Asia Pacific Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
- Table 76 Asia Pacific Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
- Table 77 South America Human Insulin Market Outlook, By Country (2020-2028) ($MN)
- Table 78 South America Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
- Table 79 South America Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
- Table 80 South America Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
- Table 81 South America Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
- Table 82 South America Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
- Table 83 South America Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
- Table 84 South America Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
- Table 85 South America Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
- Table 86 South America Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
- Table 87 South America Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
- Table 88 South America Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
- Table 89 South America Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
- Table 90 South America Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
- Table 91 South America Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
- Table 92 South America Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
- Table 93 South America Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
- Table 94 South America Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
- Table 95 South America Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
- Table 96 Middle East & Africa Human Insulin Market Outlook, By Country (2020-2028) ($MN)
- Table 97 Middle East & Africa Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
- Table 98 Middle East & Africa Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
- Table 99 Middle East & Africa Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
- Table 100 Middle East & Africa Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
- Table 101 Middle East & Africa Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
- Table 102 Middle East & Africa Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
- Table 103 Middle East & Africa Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
- Table 104 Middle East & Africa Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
- Table 105 Middle East & Africa Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
- Table 106 Middle East & Africa Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
- Table 107 Middle East & Africa Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
- Table 108 Middle East & Africa Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
- Table 109 Middle East & Africa Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
- Table 110 Middle East & Africa Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
- Table 111 Middle East & Africa Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
- Table 112 Middle East & Africa Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
- Table 113 Middle East & Africa Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
- Table 114 Middle East & Africa Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
