United States Human Insulin Market Revenue Statistics, Vital Challenges and Forecast Analysis By 2032

United States Human Insulin Market to Witness Steady Growth: Expected CAGR of 4.1% from 2022 to 2028

The United States Human Insulin Market is poised for significant growth driven by factors such as the rising diabetic population, increasing numbers of geriatric and obese individuals susceptible to diabetes, and substantial investments in research and development by key industry players.

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According to a recent study conducted by strategic consulting and market research firm Report Ocean, the United States Human Insulin Market is projected to grow at a CAGR of 4.1% during the forecast period of 2022 to 2028. The market's growth is primarily attributed to the escalating number of individuals diagnosed with diabetes. The International Diabetes Federation (IDF) estimates that the global diabetic population will increase from 433 million in 2019 to 700 million by 2045. In the United States alone, 1.5 million Americans are diagnosed with diabetes each year, as reported by the American Diabetes Association (ADA). Furthermore, there has been a notable rise in diabetes and irregular blood sugar levels among younger generations, which is expected to drive market growth. Advances in formulation techniques also contribute significantly to the expansion of the U.S. human insulin market.

Increasing Prevalence of Obesity and Growing Geriatric Population as Key Market Drivers

The prevalence of chronic conditions such as diabetes is higher among older individuals and those who are obese. Technological advancements and sedentary lifestyles have led to increased obesity rates and a range of health issues, including disrupted blood sugar levels, especially among young adults. These factors indirectly impact the growth of the United States human insulin market. According to the World Health Organization, 537 million adults worldwide are projected to have diabetes in 2021, with one in ten affected by another form of diabetes. Additionally, around 96 million adults aged 18 years and older are expected to have prediabetes in the U.S. in 2021. The growing geriatric population further contributes to market expansion.

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Type I Diabetes Drives Market Growth in the U.S. by Application

The U.S. human insulin market is segmented into two types based on application: Type I diabetes and Type II diabetes. The Type I diabetes segment is anticipated to witness faster growth, primarily due to increased rates of Type I diabetes diagnoses. According to the Centers for Disease Control and Prevention (2019), approximately 1.6 million adults aged 20 years or older in the U.S. have Type I diabetes and require insulin. Improved accessibility to insulin for Type I diabetes patients is also expected to drive growth in this market segment. On the other hand, the Type II diabetes segment is projected to grow at a slower CAGR compared to Type I diabetes, as there are various other treatment options available for Type II diabetes patients. However, the number of individuals with Type II diabetes requiring insulin treatment has been increasing in recent years, indicating steady growth during the forecast period.

COVID-19 Impact on the United States Human Insulin Market

The COVID-19 pandemic has brought significant disruptions to the healthcare industry, affecting manufacturing and supply chain operations due to lockdowns and restrictions implemented worldwide. The U.S. human insulin market has also faced challenges as a result. Additionally, the pandemic's economic impact has led to decreased consumer demand as individuals prioritize essential expenses. Hospitals have reported reduced insulin prescriptions as well. These factors have affected the revenue growth of the United States human insulin market. However, the market has shown signs of recovery since the second quarter of 2021 as the impact of COVID-19 has eased, aiding the market's resurgence.

Market Segment:
By Product Type(Human Insulin Drugs, Human Insulin Delivery Devices)
By Type(Insulin Analogs And Biosimilars, Human Insulin Biologics)
By Delivery Devices (Syringes, Pens, Pen Needles);
By Application(Type I Diabetes, Type Ii Diabetes)
By Distribution Channel(Retail Pharmacies, Hospital Pharmacies, Online Pharmacies)

Competitive Landscape

The United States human insulin market is highly concentrated, with major players such as Novo Nordisk, Sanofi, and Eli Lilly holding significant market shares. Key players in the market

Table of Content:
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents
2.5. Assumption & Limitation
3. Executive Summary

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This release was published on openPR.