Human Insulin Market to Reach $24.0 Billion, Globally, by 2033 at 3.4% CAGR | Lupin, Pfizer, MannKind Corporation, Biocon, Sanofi, Medtronic, Novo Nordisk A/S

According to the report, the human insulin market was valued at $17.1 billion in 2023, and is estimated to reach $24.0 billion by 2033, growing at a CAGR of 3.4% from 2024 to 2033.

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Increasing prevalence of diabetes, rise in awareness and screening programs for diabetes, and rise in R&D activities are the major factors that drive the growth of the human insulin market growth. However, side effects associated with insulin therapy restricts the market growth. Moreover, innovations in insulin delivery systems, such as insulin pumps, and smart pens offers remunerative opportunities for the expansion of the global human insulin market.

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Segment Highlights

By product type, pens segment dominated the market share in 2023. This is attributed to the fact that insulin pens offer superior convenience and ease of use compared to traditional vial-and-syringe methods which drives the segment growth. Their design allows for more accurate dosing, which is particularly beneficial for patients requiring precise insulin management. In addition, technological advancements led to the development of smart insulin pens, which can track dosing history, provide reminders, and sync with mobile applications, thereby enhancing diabetes management and segment growth.

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North America to maintain its dominance by 2033

North America is poised to maintain its leadership status in the human insulin market during the forecast period owing to rise in prevalence of diabetes, advanced healthcare infrastructure and significant healthcare expenditure, facilitating widespread access to diabetes management resources and innovative insulin delivery technologies. The presence of leading pharmaceutical companies and ongoing research and development activities further bolster the market, ensuring a continuous pipeline of advanced insulin formulations and delivery systems. However, Asia-Pacific is expected to register the highest CAGR during the forecast period, owing to increase in the prevalence of diabetes, advancements in biotechnology, and the introduction of cost-effective biosimilar insulins.

Key Players

Eli Lilly and Company
Sanofi
Novo Nordisk A/S
Pfizer
Biocon
Wockhardt
MannKind Corporation
Tonghua Dongbao Pharmaceutical Co., Ltd.
Medtronic
Lupin

The report provides a detailed analysis of these key players in the global human insulin market. These players have adopted different strategies such as agreement, collaboration, partnership, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Recent Developments in Human Insulin Market Worldwide

In March 2024, MannKind Corporation announced initial meal challenge data from INHALE-3 that was presented by Dr. Irl B. Hirsch at the 17th International Conference on Advanced Technologies and Treatments for Diabetes (ATTD) in Florence on March 8th. INHALE-3 is a Phase 4 U.S. clinical trial evaluating inhaled insulin (plus basal) vs. standard of care.
In September 2023, Novo Nordisk announced a new partnership to establish human insulin production in South Africa as part of an expanded commitment to provide life-saving treatment to people living with diabetes across the African continent.

In January 2022, Mylan Pharmaceuticals Inc., a Viatris company, recalled one batch of its non-interchangeable Semglee (insulin glargine injection) , 100 units/ml (U-100) , 3mL prefilled pens, which are packaged in a labelled carton of five (5) pens. The product was recalled due to the potential for the label to be missing on some prefilled pens within a labelled carton for this particular batch.

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