Human Insulin Market Experiences Exponential Growth in 2023-2030

Human Insulin or Insulin is a hormone produced in the human pancreas that regulates the amount of glucose (sugar) in the bloodstream and the metabolism of fats, proteins and carbohydrates in the human body. Insulin is available in different strengths; the most common is U-100, which is used as a dietary and exercise supplement to improve glucose balance in children and adults.

The global Human Insulin Market size was estimated at USD 25.96 billion in 2023 and is projected to reach USD 33.38 billion in 2030 at a CAGR of 3.2% during the forecast period 2023-2030.

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The growth of the global market is attributed to key factors such as increasing demand for human insulin analogues and affordable reimbursements. Technological innovations in human insulin delivery devices are also boosting the market. For example, in August 2020, the US FDA approved the MiniMed 770G, an innovative diabetes management device. This device automatically monitors glucose levels and delivers the correct basal insulin doses to pediatric patients with type 1 diabetes with minimal client (caregiver) input.

Human Insulin Market Competitive Landscape:

Novo Nordisk A/S
Eli Lilly and Company
Sanofi
Pfizer Inc.
Biocon Ltd
Wockhardt
Boehringer Ingelheim International GmbH
Julphar
United Laboratories International Holdings Limited
Tonghua Dongbao Pharmaceutical Co. Ltd.
Exir
Sedico
Bristol-Myers Squibb Company
GlaxoSmithKline Plc
Oramed
Adocia
Merck & co. Inc

Human Insulin Market Recent Developments:

November 2022: The U.S. Food and Drug Administration approved Tzield (teplizumab-mzwv) injection to delay the onset of stage 3 type-1 diabetics and pediatric patients 8 years of age and older who were stage 2 type-1 diabetics.

May 2022: The FDA approved Lilly's new medication Mounjaro (also known as tirzepatide) for type-2 diabetes management in addition to diet and exercise. This first-in-class medication showed improvement in glucose levels and also dramatically improved weight in clinical trials.

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Human Insulin Market Key Findings:

By product, the human insulin market is divided into two main segments: drugs and dosing devices. The human insulin drug segment is expected to account for the largest share of the global market by product in 2022. Behind this high share is, among other things, the growth of the population with diabetes worldwide, the increasing research and development of drug research and development, and the growing share of the aging population. population trends in developed countries, increased access to generic human insulin products worldwide, and government initiatives to support the development and commercialization of effective biosimilars.

The application segment is further bifurcated into type-1 and type-2 diabetes. The largest segment by application is type 1 diabetes mellitus, due to the high insulin dependency of these patients. It is a more severe condition than type 2 diabetes. According to the International Diabetes Federation, around 10% of all individuals with diabetes have type-1 diabetes.

By product type, the human insulin device market is divided into three segments: pens, pen needles and syringes. The pen segment is expected to account for the largest market share in 2022; it will be the fastest growing segment in the next five years. Its rapid growth is due to the increasing market focus of ballpoint pen manufacturers moving towards insulin pen production on developing countries such as China, India and Brazil; significant medical benefits for human insulin pens in mature markets such as the US and Europe; and continued product development and product marketing of innovative human insulin pens.

The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. In North America due to the dominance of branded products and the increasing prevalence of disease in the region.

Regional Analysis

North America to Dominate the Market

North America is estimated to account for the largest market share during the forecast period due to the dominance of branded products and the increasing prevalence of disease in the region.

Moreover, the strong presence of some of major players Novo Nordisk A/S, Eli Lilly and Company, and Sanofi is expected to boost the North American market growth.

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This release was published on openPR.