Global Human Insulin Market 2023: With more people getting diagnosed with Diabetes, the market to be on the expansion spree
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There are two main types of human insulin: rapid-acting and long-acting. Rapid-acting insulin is usually taken before meals to help control blood sugar levels after eating. Long-acting insulin is usually taken once or twice a day to provide a steady supply of insulin throughout the day.
The human insulin market is driven by several key factors:
Rising prevalence of diabetes: The global prevalence of diabetes is increasing, which is driving demand for insulin and other diabetes treatments.
Increasing adoption of insulin pumps: Insulin pumps, which deliver a continuous supply of insulin through a small device worn on the body, are becoming more popular, which is boosting demand for insulin.
Advances in insulin production: Improvements in insulin production techniques, such as the use of genetically modified organisms, have led to the development of more effective and efficient insulin products.
Government initiatives: Governments around the world are taking steps to increase access to insulin and other diabetes treatments, which is contributing to the growth of the human insulin market
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The human insulin market is expected to continue growing in the coming years, driven by the increasing prevalence of diabetes and the adoption of advanced insulin delivery systems. In addition, the COVID-19 pandemic has highlighted the importance of maintaining good blood sugar control, which may further drive demand for insulin and other diabetes treatments.
The key players in human insulin market are on an innovation spree. In other words, modern human insulin is being doled out at a rapid pace. This is evident from the fact that it holds 83.5% of the overall market share. The status quo is expected to remain unchanged even in the forecast period.
Eli Lily and Company, in April 2019, did table Humalog's generic version called Insulin Lispro in the market of the US. It costs half of the existing price of Humalog.
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Key Segments Covered in Human Insulin Market
Human Insulin Market by Type
Modern Human Insulin
Traditional Human Insulin
Human Insulin Market by Distribution Channel
Human Insulin Market by Type of Diabetes
Diabetes Type 1
Diabetes Type 2
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