Global Human Recombinant Insulin Market – Industry Insights
In September 2017, Biocon Limited: an India-based biopharmaceutical firm received funding from Juvenile Diabetes Research Foundation (JDRF) to study oral insulin drug candidate: Tregopil, to evaluate the safety and tolerability in people suffering with type 1 diabetes. The collaboration between Biocon and JDRF is a part of JDRF's Industry Discovery and Development Partnership (IDDP) programme, through which JDRF provides financial support to Biocon to accelerate research in type 1 diabetes management.
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Increasing Incidence of Diabetes Worldwide is expected to Drive Growth of the Human Recombinant Insulin Market
Insulin plays a vital role in diabetes management by controlling blood sugar level. Both type 1 and type 2 diabetes people are benefited by maintaining blood sugar levels. Increasing incidence of diabetes is expected to be major factor driving growth of the market in the near future. For instance, according to the World Health Organization (WHO), 2016, an estimated 422 million adults are suffering from diabetes. The major spike in incidence of type 2 diabetes over the last decade is mainly attributed to increasing prevalence of obesity. According to the International Diabetes Federation (IDF) Atlas 2017, global burden of diabetes is affecting more than 425 million people, among which one-third are older than 65 years of age. Moreover, the number of people with diabetes may rise to 629 million in 2045. Furthermore, 352 million with impaired glucose tolerance are at high risk of developing diabetes. Furthermore, continuous increase in incidence rate of diabetes, owing to unhealthy lifestyle, binge eating, obesity, overweight, physical inactivity, and insulin resistivity among global population is expected to further boost growth of the human recombinant insulin market over the forecast period.
However, high cost of insulin may restrain growth of the market, as patients from low and middle countries are unable to afford it. According to the Pharmaceutical Care Management Association (PCMA) May 2018 report, prices of insulin have increased over 10-fold since 1985 and prices have exhibited significant rise during the last past 10 years (2008 to 2018). According to PCMA, prices for Humulin/Novolin have increased from around US$ 25 per prescription in 1985 to nearly US$ 300 in 2016. Furthermore, prices for long-acting insulins have increased from around US$ 100 per prescription in 2007 to nearly US$ 400 in 2016.
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