Middle East & Africa Human Insulin Market 2019 Industry Trends, Top Players: Novo Nordisk, Sanofi and Eli Lilly. However, there are many local players like Julphar, Sedico, and Exir

The Middle East & Africa human insulin market has potential to grow, and it is expected to grow at approximately 4% CAGR during the forecast period (2019-2024). Nearly 100 million people around the world need insulin, including all the people living with Type 1 Diabetes, and between 10-25% of people with Type 2 Diabetes.Although insulin has been used in the treatment of diabetes for over 90 years, globally, more than half of those who need insulin today still cannot afford it and cannot access it. People with Type 1 Diabetes need Insulin therapy, and the treatment focuses on managing blood sugar levels with insulin, diet, and lifestyle habits to prevent complications.

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Scope of the Report
The Middle East & Africa human insulin market is segmented by Product Type (Basal or Long-acting Insulins, Bolus or Fast-acting Insulins, Traditional Human Insulins, Combination Insulins, and Biosimilar Insulins), and by Region, which covers Saudi Arabia, Iran, Egypt, South Africa, Oman & the Rest of Middle East & Africa.

Competitive Landscape
The Middle East & Africa insulin market is dominated by Novo Nordisk, Sanofi and Eli Lilly. However, there are many local players like Julphar, Sedico, and Exir, who hold a significant market share. Julphar is developing Insulin Glargine Biosimilar, which is expected to launch in 2020.

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Key Market Trends
Increasing Diabetes Prevalence is Expected to Boost the Market in the Forecast Period
The prevalence of Type 2 Diabetes mellitus (T2DM) has increased dramatically during the last two decades - a fact driven by the increased prevalence of obesity, the primary risk factor for T2DM. Many reports and surveys documented a drastic increase in the diabetic population based on lifestyle habits. High growth in urbanization has worsened physical inactivity, and in turn, making diabetes is a major health concern. The R&D in the insulin segments are growing year-on-year, where scientists are trying to bring out the best molecule for patients use by curbing the maximum extent of side effects, and by increasing their efficiency.

Biosimilar Insulins hold a Significant Market Share
Biosimilar insulin is highly popular in the Middle East & Africa region because of its low cost as compared to branded insulins.The Middle Eastern & African countries have substantial economic diversity. The per-capita expenditure on diabetes in the region is low, although some countries in the region have managed to modify their healthcare expenditure to include biologic and biosimilar therapies. Biosimilars have grown with a high CAGR of 13% in the historical period because of consistent efforts by local manufacturers to capture the highly consolidated market.

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