Demand for human insulin also referred to as synthetic insulin is on the rise. Human insulin in the foremost requirement for a diabetic person. The product first came into the picture in 1960s and 1970s but could only get marketed by early 80s. After its commercial launch, the product quickly replaced the existing drug, which was purified form of porcine. Market Research Future (MRFR) reports the global human insulin market will grow to USD 40 Bn between 2016 and 2021, reflecting a double-digit CAGR. Some of the major drivers of the market include increased level of awareness about diabetes, increased product penetration, growing geriatric population worldwide, expanding diabetic population.
Diabetes is one of the most common disorder in the world and continues to attract robust government initiatives and R&D efforts towards its treatment. Such factors are supporting the market growth. However, stringent regulation, drug approval delays, and high cost of insulin analog are some of bottlenecks for the market. Issues such as side effects and delayed onset of reaction of human insulin are some of the critical challenges that are yet to be fully tackled.
Competitive Landscape
Tonghua Dongbao Pharmaceuticals Co., Ltd. (China), Merck & Co. (U.S.), Bristol-Myers Squibb Company (U.S.), Oramed Pharmaceuticals, Inc. (Israel), Adocia (France.), GlaxoSmithKline Plc (U.K.), Biocon Ltd. (India), Novo Nordisk A/S (Denmark) and Julphar (UAE) are some of the leading profiled in MRFR’s report.
Segmental Overview
MRFR’s report includes comprehensive segmental analysis of the global human insulin market based on type and region.
Based on type, the market has been segmented into traditional human insulin and modern human insulin. The modern human insulin segment is further segmented into premixed human insulin, rapid acting human insulin and long acting human insulin. The tradition human insulin segment is further sub-segment into intermediate acting human insulin and short acting human insulin. In terms of value, the modern human insulin segment accounts for a relatively larger market share.
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