Human insulin is laboratory-grown synthetic insulin that functions like the kind naturally present in humans. The demand for human insulin rides on the increase in the diabetic as well as obese population across the globe. Diabetes is a condition characterized by alarming levels of blood sugar, which occurs either when the body is unable to effectively use the insulin secreted by the pancreas or when the pancreas produce inadequate amount of insulin.
The prevalence of diabetes has risen at a rapid pace. In 2012, the World Health Organization (WHO) pegged the number of deaths directly caused by diabetes at around 1.5 million globally.
The number of people suffering from diabetes is likely to increase from 382 million in 2014 to 592 million in 2035, according to a report released on International Diabetes Day in 2014. The WHO states that by 2030, diabetes will become the 7th leading cause of death.
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Obesity also provides a major boost to the demand for human insulin, since obesity is closely associated with high blood glucose levels and consequently diabetes. In 2014, more than 1.9 billion people above the age of 18 were overweight according to the WHO, 600 million of which were obese.
In 2013, there were 42 million children below the age of 5 who were either overweight or obese.
Almost two-thirds of the American adult population is overweight or obese, according to an article published in the Clinical Diabetes journal of the American Diabetes Association; with alarming statistics such as this, it is no surprise that North America dominates the market for human insulin.
Strong Pipeline of Diabetes Medication Holds Promise for Future Growth
The market for human insulin was pegged at US$24,332.6 million in 2014 by MRRSE, and this is likely to grow to US$49,197.3 million by 2020, at a CAGR of 12.4% from 2014 to 2020.
The global human insulin market has been studied and analyzed by analysts time and again to identify the various factors responsible for its growth. As established earlier, the human insulin market is primarily driven by the surge in the percentage of the obese as well as the diabetic in the global population.
The spiraling levels of obesity can be attributed to the severe changes in lifestyle and unhealthy dietary habits. The geriatric population is more susceptible to diabetes, leading to an increased demand for human insulin.
In addition, the growing support from government in the form of numerous initiatives and investments for research, development of new and innovative devices to deliver human insulin in a more effective manner, and a strong pipeline of diabetes medication are projected to enhance growth opportunities for pharmaceuticals and other stakeholders within the human insulin market.
Weak Establishment in Emerging Countries to Hamper Global Human Insulin Market
However, lengthy procedures for drug approval from the necessary bodies and stringent regulatory requirements have posed major challenges for the growth of the human insulin market. Moreover, markets in emerging economies of China, India, and Brazil are plagued with their own unique hurdles such as uneven pricing and limited access to and inadequate awareness of modern insulin devices.
Some of the leading companies operating in the global human insulin market are Wockhardt, Sanofi, Merck & Co. Inc., Adocia, Novo Nordisk A/S, Pfizer Inc., Bristol-Myers Squibb Company, Oramed Pharmaceuticals Inc., Biocon, Tonghua Dongbao Pharmaceutical Co.
Ltd., Eli Lilly and Company, Julphar, and GlaxoSmithKline Plc.
Chapter 1 Preface
1.1 Report Description
1.2 Research Methodology
1.3 Assumptions
Chapter 2 Market Synopsis
Chapter 3 Porter’s Five Forces Analysis
3.1 Bargaining Power of Suppliers
3.2 Bargaining Power of Buyers
3.3 Threat of New Entrants
3.4 Threat of Substitutes
3.5 Intensity of Rivalry
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Chapter 4 Industry Overview
4.1 Market Definition
4.2 Market Drivers
4.2.1 Growing prevalence of diabetes
4.2.2 Technological advancements in human insulin delivery devices
4.2.3 Increasing awareness among people towards diabetes care
4.3 Impact Analysis of Market Drivers
4.4 Market Restraints
4.4.1 Uneven pricing and limited access to human insulin in emerging countries
4.4.2 Strict regulatory requirements for drug approval
4.5 Impact Analysis of Market Restraints
4.6 Market Trends
4.6.1 Increasing usage of insulin pens for administration of human insulin
Chapter 5 Global Market Size and Forecast
Chapter 6 Market Size and Forecast by Type
6.1 Traditional Human Insulin
6.2 Modern Human Insulin
Chapter 7 Market Size and Forecast of Traditional Human Insulin by Type
7.1 Short-acting Human Insulin
7.2 Intermediate-acting Human Insulin
7.3 Premixed Human Insulin
Chapter 8 Market Size and Forecast of Modern Human Insulin by Type
8.1 Rapid-acting Human Insulin
8.2 Long-acting Human Insulin
8.3 Premixed Human Insulin
Chapter 9 Market Size and Forecast by Disease
9.1 Type 1 Diabetes
9.2 Type 2 Diabetes
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