Human Insulin Market to reach valued at $ 26 billion and Grow at a 12.5% CAGR to 2020
modern human insulin is by far the fastest growing segment of human insulin market and it is expected to reach $42 billion by 2020.
Pune, India – November 15, 2016 /MarketersMedia/ —
Diabetes is a chronic disease caused due to insufficient production or inappropriate use of insulin in the body. It is a collection of diseases characterized by elevated blood glucose level. It is mainly of two types –Type 1 and Type 2 diabetes. Type 1 is caused due to lack of insulin, whereas, type 2 diabetes is caused due to futile use of insulin. According to World Health Organization (WHO) in 2012, globally 1.5 million people died due to diabetes. In addition, according to American Diabetes Association (ADA) in 2012, 29.1million Americans were suffering from the disease. Human insulin is synthetic insulin which is developed in laboratories by growing insulin protein with the help of E coli bacteria.
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The global human insulin market is growing moderately due to increase in prevalence of diabetic population, rise in geriatric population, rising awareness of diabetes and rising prevalence of obesity. However, strict regulatory requirements for approval of insulin and high cost of analog are inhibiting the growth of the global human insulin market.
The global human insulin market was valued at $ 26 billion and is expected to grow at a CAGR of 12.5% during the forecast period.
On the basis of types, modern human insulin is by far the fastest growing segment of human insulin market and it is expected to reach $42 billion by 2020.
Based on type of brands, Lantus is long acting human insulin analog and it is available in more than 120 countries. Among all the brands, Lantus commands the largest share in the human insulin market. Apidra is rapid acting human insulin analog. In addition, Apidra and Levemir are the fastest growing brand in the human insulin market. Moreover, there are various drugs in pipeline, which would have positive impact on the growth of the market in coming years.
Geographically, North America is one of the major revenue generator as well as producer of human insulin. Increasing prevalence of diabetes and increasing R&D investment for more effective insulin is boosting the growth of human insulin market in North America.
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Key Players
The leading market players in the global human insulin market include; Biocon Ltd. (India), Merck & Co (U.S.), Pfizer, Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), GlaxoSmithKline Plc (U.K.), Novo Nordisk A/S (Denmark), Eli Lilly and Company (U.S.), Sanofi (France), Tonghua Dongbao Pharmaceuticals Co., Ltd. (China), ADOCIA (France), and others.
Study Objectives of Human Insulin Market Development and Demand Forecast to 2020
To provide insights about factors, influencing and affecting the market growth.
To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their countries.
To provide historical and forecast revenue of the market segments based on type, and brands, for global human insulin market.
To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market.
To provide economic factors that influences the global human insulin market.
Target Audience
Pharmaceutical companies
• Medical devices companies
• Urologist
• Research Laboratories
• Hospitals & Clinics
• Component and Raw Material Suppliers
• Service Suppliers
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager
Key Findings
• The global market for human insulin is expected to grow at a CAGR of 12.5% during the period 2016 to 2020 to reach $48 billion by 2020.
• The Asian human insulin market is expected to grow rapidly during 2016 to 2020; whereas, North America will remain the largest market by end of the forecast period.
• By types, modern human insulin segment is expected to witness highest CAGR of 12.7% during the period 2016 to 2020.
• Pfizer, Inc., Novo Nordisk, Eli Lily and Company, Sanofi, GlaxoSmithKline and Merck & Co. are so far the leading market players for human insulin market globally
Regional and Country Analysis of Human Insulin Market Development and Demand Forecast to 2020
As per the MRFR analysis, the Asia human insulin market is poised to reach $XX billion by 2020, to grow at a CAGR of around 12.5% during the forecasted period. European market was valued at $ XX million in 2015, and expected to reach at $ 14 billion by 2020. North America continues to be the leading region and valued at $11 billion in 2015.
The reports also cover country level analysis:
• North America
o US
o Canada
• Europe
o Germany
o U.K.
o Italy
o Spain
o France
o Rest of Western Europe
o Eastern Europe
• Asia-Pacific
o Japan
o China
o India
o Republic of Korea
o Rest of Asia-Pacific
…CONTINUED
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