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What is Biggest Trend Currently Witnessed in Human Insulin Market?

12-07-2021 05:51 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

What is Biggest Trend Currently Witnessed in Human Insulin

The market is registering growth due to the surging geriatric population, rising exposure of people toward key risk factors resulting to diabetes, and increase in the number of diabetic patients. A type of synthetic insulin which mimics the insulin in humans is referred to as human insulin. Human insulin is generally created by growing insulin protein in bacteria, E. coli.

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In terms of product, the human insulin market is bifurcated into Hi delivery devices and HI drugs. Between these two, the HI drugs division dominated the market during the historical period (2013–2017), holding a share of 79.5% in 2017, and is further projected to retain its position during the forecast period. This is attributed to the rise in research & development activities for drug discovery and development, high prevalence of diabetes, and increasing demand for HI analogs. The HI delivery devices division is predicted to grow at the faster pace during the forecast period.

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A major driving factor of the human insulin market is the rise in number of diabetic patients around the world. The number of people suffering from diabetes rose from 108 million in 1980 to 422 million in 2014, and this is number is further expected to reach 592 million by 2035. This surge in the number of diabetic patients is not limited to just developed countries but developing countries as well. According to the International Diabetes Federation, the number of diabetic patients in India will reach up to 123 million by 2040.

A key trend being witnessed in the human insulin market is the rising significance of home infusion therapy for the treatment of diabetes. Because of the rising emphasis on cost-effectiveness in healthcare, the preference for less costly sites such as homecare are gaining popularity over emergency departments or hospitals. Home-based care provides greater convenience and flexibility. Home infusion therapy is gaining acceptance among diabetic patients due to the growing availability of advanced HI delivery devices, particularly insulin pumps.

Hence, the market is being driven by technological advancements and increase in the number of diabetic patients.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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