China’s Insulin Market Growth, Forecast And Research Rpeort : Radiant Insights,Inc
The long-acting insulin segment is projected to grow at a healthy CAGR of 8.7% in the coming years.
San Francisco, United States – July 1, 2016 /MarketersMedia/ —
An insulin market in China is expanding leisurely. Insulin is referred as a hormone secreted by the pancreas to absorb blood sugar. Insulin deficiency in diabetes is the vital factor boosting the insulin market worldwide. Type 1 diabetic population that requires insulin to handle the condition is significantly growing. The escalation of insulin market in China is attributing to rising fondness for fast food. Also, it credits to changing lifestyles, drastic changes in dietary habits, and improving medical infrastructure.
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The insulin market in China is segregated based on the mode of action and source. According to a mode of action, the industry is sliced into short-acting, long-acting, intermediate-acting, premixed, and rapid-acting. In addition, the sources of insulin can be differentiated into modern and human.
The long-acting insulin segment is projected to grow at a healthy CAGR of 8.7% in the coming years. This segment will possibly grow lucratively owing to the strong pipeline of products in the market along with the lack of price restrictions.
Rapid-acting insulin followed the long-lasting insulin segment in 2012. Premixed insulin segment accounted for more than 50% of the market share in China in the aforementioned year. China demand for insulin has grown substantially in the past. Both demand and production of insulin markets in China are likely to mount over the coming years.
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Expansion in consumer consumption, industrial output, and imports& exports is assisting Chinese market to increase rapidly. Growing occurrence of diabetes is the severe health concern in the global market.
There is no enduring cure invented for diabetes. This has lead to the expansion in insulin as a crucial cure therapy for type – 1 patient. Several pharmaceutical companies have emphasized on R&D strategies for rapid-acting and long-acting segment developments. It would positively impact the market demand for insulin.
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