Human Insulin Market Comprehensive Review of its Applications Growth Opportunities and Future Prospects Detail with Top Key Company Like Sanofi, Novo Nordisk, Eli Lilly and Company, GlaxoSmithKline, Pfizer, Merck & Co, Julphar

The human insulin (HI) market size is predicted to reach $70.6 billion by 2023, according to P&S Intelligence.Increasing population exposure to key risk factors leading to diabetes, technological advancements in insulin delivery devices, growth in the number of diabetic patients, and growing geriatric population are the factors driving the market growth.

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HI drugs are further classified into analogs and biologics. There are various brands available for HI analogs and biologics in the global human insulin market. The HI analogs are also classified on the basis of type into rapid-acting, long-acting, and premixed insulin. Similarly, HI biologics are bifurcated into intermediate/rapid-acting, short-acting, premixed, on the basis of type. Among these, short-acting insulin is predicted to be the fastest growing category in the global market, demonstrating a CAGR of 5.8%.
On the basis of application, the human insulin market is categorized into type II diabetes, type I diabetes, and gestational diabetes and prediabetes. Type II diabetes is expected to be the fastest growing application area in this market, advancing at a CAGR of 9.1% during the forecast period, which is attributed to increasing prevalence of type II diabetes, globally.

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Furthermore, the World Health Organization (WHO) developed the action plan for the prevention and control of non-communicable diseases (NCDs) in South-East Asia 2013–2020. This plan provided a roadmap for the implementation of policies and programmes at regional and national level, thus fueling the human insulin market growth in the region.

In order to increase their market share, key players of the human insulin industry are pursuing partnerships and collaborations. For instance, in October 2018, Ypsomed AG collaborated with Koninklijke Philips N.V. (Philips) to jointly develop and deploy new digital self-medication adherence monitoring services based on Ypsomed’s connected devices and Philips’ cloud based HealthSuite digital platform.

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In August 2018, Ypsomed AG entered into partnership with JRDF, the leading global organization funding type I diabetes research, as a part of JDRF’s Open-Protocol Automated Insulin Delivery (AID) Systems Initiative. Under the terms of this partnership, JRDF will contribute financial resources to help Ypsomed AG to accelerate development of the next generation, fully interoperable myLife YpsoPump insulin pump.

Some of the other key players operating in the human insulin industry are B. Braun Melsungen AG; Becton, Dickinson and Company; Eli Lilly and Company; Novo Nordisk A/S; Sanofi; Wockhardt Limited; Biocon Limited; Medtronic plc; and Gulf Pharmaceutical Industries (Julphar).

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