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Human Insulin Market – Identify Emerging Players with Potentially Strong Product Portfolio and Create Effective Counter-Strategies to Gain Competitive Advantage
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The products available in the human insulin market are HI drugs and delivery devices. Among these products, HI delivery devices is expected be the faster growing category, globally, advancing at a CAGR of 11.1% during the forecast period. This is attributed to increasing prevalence of diabetes, and growing focus of insulin pen manufacturers on countries with large number of diabetic patients, such as China and India. Furthermore, technological advancements in pens and medical reimbursements offered in developed regions are some of the other factors driving the growth of this product category.
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The International Diabetes Federation (IDF) reported in 2015, that an estimated 82 million people aged between 20 to 79 years suffered from diabetes in South-East Asia in 2017. Furthermore, in response to the growing diabetes and lifestyle diseases, the government of the developing countries, such as China, and India, are preparing action plans in order to expand diabetes screening at the primary health-care level, train health-care workers, and take preventative measures. Thus, such initiatives plans are expected to support the growth of human insulin market in APAC.
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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.
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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