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The market size of China insulin market in terms of value and volume


Posted Dec 4, 2014 by kenresearch12
The report entails the market share analysis and company profiles of major players in the insulin market in China
 

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Pressnews.biz (Press Release) Dec 4, 2014 -- China Insulin Market Review to 2018- Increasing Focus on R&D Investments’ presents a comprehensive analysis of market size by volume and value of major types of insulin consumed in China. The report entails the segment wise market share analysis and company profiles of major players in the insulin market in China. The future analysis of the market has also been discussed in the report.

The prevalence of diabetes in China has grown from 1% per capita in 1980 to more than 12% in 2013, making it the country with the most diabetic cases globally. In addition to 148 million people with pre-diabetes, 98.4 million people were diagnosed with diabetes in the country in 2013. In the near future, 6%-7% of those with pre-diabetes will be added to the existing diabetic population. Additionally, 40% of the youth aged 18-29 are potential diabetes patients with a high risk of stroke, heart disease and renal failure. Thus, the disease has become a matter of grave concern for the country and its wellbeing in the future.

Diabetes has reached catastrophic levels in China. According to the International Diabetes Federation, 98.4 million people in China were diagnosed as diabetic in 2013, representing the country with the largest diabetes cases in the world. The undiagnosed diabetic cases in China amounted to 53.2 million in 2013. Adding significantly to the mortality rate of China, nearly 1.3 million people died from diabetes in the country during the same year.

The consumption of insulin, the basis of diabetes care, is gaining momentum in China. With revenue generation of USD ~ million in 2013, China’s insulin market has grown at a tremendous pace since 2008. Although, low awareness relating to diabetes care in the country is a major cause hindering treatment and diagnosis of diabetes, the scenario is witnessing change. With a CAGR of 23.5% during 2008-2013, the demand for insulin has been underpinned by growing diabetic population, gradually increasing knowledge regarding diabetes care and the rising affluence of the masses. In terms of volume, it is estimated that nearly ~ thousand of million units (tMU) of insulin was consumed in 2013, which has been growing at 18.3% CAGR from 2008 to 2013.

The insulin market in China is evolving rapidly. Analog insulin has become the preferred choice of the diabetic population in the country not only on account of efficacy, but also the fact that people are being able to afford the high costs that are carried with analog insulin replacement therapy. The market for human insulin in China is being substituted by analog insulin every year. In 2008, the Chinese insulin market was largely composed of human formulations with ~% share, which was reduced to ~% in 2013. The analog insulin market has grown considerably during the same period, registering an impressive CAGR of 44.8%. In 2013, the value addition to the overall insulin market by the sale of analog insulin was USD ~ million, whereas that of human insulin was USD ~ million.

The government of China is actively involved in resisting the problems related to the increasing prevalence of diabetes in the country. Through the initiation of healthcare reforms, the government has significantly contributed to the growth of the insulin market in China. Medical insurance, drug supply security, medical-service provision and public health services are some of the initiatives undertaken by the government. The government has also collaborated with several leading insulin companies for spreading awareness via campaigns and free diagnostic services.

The rising epidemic of diabetes in China and its economic wellbeing has attracted the major insulin enterprises operating globally. Companies such as Novo Nordisk, Eli Lilly and Sanofi Aventis capture a large proportion of the market, whereas domestic players including Tonghua Dongbao and Shanghai Fosun Pharmaceutical share a small fraction of the Chinese insulin market. Since analog insulin is emerging as the favored choice amongst the diabetic patients in the country, the vast and superior portfolio offered by the foreign multinationals has assisted them in constricting the market. These companies are also carrying out extensive R&D within the country in order to understand the local trends and supplying corresponding solutions.

source :https://www.kenresearch.com/healthcare/pharmaceutical-industry/china-insulin-market-research-report/574-91.html
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Contact Email : i...@kenresearch.com
Issued By : Kenresearch
Website : Market Research Report
Phone : +91 1147017199
Business Address : 109-110, NDM II, Netaji Subhash Place, Pitampura
New Delhi India
Country : India
Categories : Health, Reports, Research
Tags : Insulin, Human Insulin, Analog Insulin, Premix, Rapid Acting
Last Updated : Dec 4, 2014

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