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Human Insulin Market: Market Overview, Trends, Market Segmentation, Market Size, and Forecast Report
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Growing demand of biosimilar drugs, due to its cost effectiveness, pose an opportunity for the growth of the human insulin market. In addition, increasing usage of insulin pens for the administration of insulin helps to inject the accurate dose of insulin at a time. However, high insulin analog cost and strict regulatory requirements for approval of human insulin are inhibiting the growth of the global human insulin market.
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Increasing prevalence of diabetes, increasing number of geriatric population, rising prevalence of obesity and increasing R&D investment for more effective insulin are driving the growth of the human insulin market in North America. The North American human insulin market is expected to grow by a CAGR of 11.8% during the period 2015 to 2020. In Europe, according to International Diabetic Federation in 2013, approximately 52 million people were suffering from diabetes in Europe. The European human insulin market is expected to grow by a CAGR of 12.6% during the period 2015 to 2020. Thus, increasing prevalence of diabetes would increase the usage of human insulin.
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The global human insulin market has a fragmented structure with large number of companies operating in the market. The key players in the human insulin market include Sanofi, Novo Nordisk A/S, Eli Lilly and Company, GlaxoSmithKline Plc, Pfizer, Inc., Merck & Co., and Julphar.
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