Human Insulin Market will reach US$49,197.3 million in 2020, Globally By Persistence Market Research
New York: According to a new market report published by Persistence Market Research “Global Market Study on Human Insulin: Asia Pacific to Witness fastest Growth by 2020,” the global human insulin market was valued at USD 24,332.6 million in 2014 and was expected to grow at a CAGR of 12.4% from 2014 to 2020, to reach an estimated value of USD 49,197.3 million in 2020.
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Globally, the human insulin market is witnessing significant growth due to increasing prevalence of diabetes and increasing awareness among people about diabetes care. In addition, technological advancements in insulin delivery devices and increasing prevalence of lifestyle related disorders such as obesity are also driving the growth of the market. However, uneven pricing and limited access to human insulin in emerging countries such as Brazil, India, and China are inhibiting the growth of the human insulin market. In addition, strict regulatory requirements for drug approval are also restraining the growth of the market. The global human insulin market was anticipated to grow from an estimated USD 24,332.6 million in 2014 to USD 49,197.3 million in 2020 at a CAGR of 12.4% during the forecast period.
In North America, increasing prevalence of diabetes with growing age and availability of advanced human insulin infusion devices are driving the use of human insulin in the market.
Bioinformatics Market: North America is the largest market for the global bioinformatics. Medical biotechnology is the largest market by sector and is expected to grow at a CAGR of about 21.6% from 2014 to 2020. Genomics is the largest application based bioinformatics market.
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In addition, increasing prevalence of lifestyle associated disorders such as obesity is also boosting the growth of the human insulin market in this region. For instance, according to the Centers for Diseases Control and Prevention (CDC), a U.S.-based national public health institute, over one-third children and adolescents were obese in 2012 in the U.S.
In Europe, the human insulin market is driven by rising aging population and increasing prevalence of diabetes. In addition, in Germany the market is evolving due to rising prevalence of diabetes and increasing awareness among people about diabetes care. However, in Asia-Pacific the growth for human insulin is much higher than developed countries due to increasing prevalence of diabetes and increasing government initiatives for improving healthcare.
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Novo Nordisk A/S, Eli Lilly and Company, Sanofi, Biocon, Tonghua Dongbao Pharmaceutical Co., Ltd., Adocia, Merck&Co., Inc., Pfizer, Inc., Wockhardt, Julphar, Bristol-Myers Squibb Company, GlaxoSmithKline Plc and Oramed Pharmaceuticals, Inc. are some of the major players in human insulin market.
The human insulin market is segmented as follows:
Human insulin market, by type
Traditional human insulin
Modern human insulin
Traditional human insulin market, by type
Short acting human insulin
Intermediate acting human insulin
Premixed human insulin
Modern human insulin market, by type
Rapid-acting human insulin
Long-acting human insulin
Premixed human insulin
Human insulin market, by disease
Type 1 diabetes
Type 2 diabetes
Traditional human insulin market, by brand
Modern human insulin market, by brand
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Human insulin market, by geography
Rest of the World (RoW)
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