New York, NY -- (SBWIRE) -- 02/26/2021 -- According to the current analysis of Reports and Data, the global Human Insulin market was valued at USD 24.88 Billion in 2018 and is expected to reach USD 46.59 Billion by year 2026, at a CAGR of 8.1%. The study covers insulin, an industrially manufactured replica of a peptide hormone produced by the pancreas for people whose bodies can't produce it on their own. Insulin is considered to be the primary anabolic hormone which is responsible for the conversion of small molecules in the blood into large molecules inside the cells. Low insulin levels in the blood promotes catabolism, which is the conversion of large molecules into smaller ones, especially of reserve body fat which may lead to numerous complications like loss of vision, unsteadiness of limbs, and obesity. A patient is prescribed different types of insulin based on many factors including their response to insulin and the patient's diet, alcohol intake and exercise to combat this lack of insulin.
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Leading Players Profiled in the Report Include:
Sanofi (France), Novo Nordisk A/S (Denmark), Eli Lilly and Company (U.S.), Biocon Ltd. (India), Julphar (U.A.E.), Ypsomed AG (Switzerland), Becton, Dickinson and Company (U.S.), Wockhardt Ltd. (India), B. Braun Meselgen AG (Switzerland), and Biodel Inc. (U.S.)
Rise in prevalence of diabetes and obesity, increase in unhealthy lifestyle habits, mergers and acquisitions by major companies, product launches, technological advancements, the development of more effective and efficient Insulin, and a favorable research funding scenario, are some of the key factors propelling market growth in the industry. However, an highly monopolized market, associated side effects like risk of skin infections at the catheter site, diabetic ketoacidosis, extremely high costs of drug and device and the hassle of checking blood glucose times per day may cause the consumer to opt out of insulin treatment which is expected to hamper the market are the major hindrance for market growth during 2019-2026.
Further key findings from the report suggest
Human Insulin market is growing at a CAGR of 9.3% in Asia Pacific followed by North America and Europe, with 8.0% and 7.7% CAGR, respectively. Rise in prevalence of obesity and diabetes across the globe is the key factor to accelerate the market growth during forecast period across all regions.
As of 2018, Insulin drugs dominates the market holding 84% of the global market since insulin is a daily requirement for diabetic patients and is consumed everyday
On the basis of application, Type II Diabetes is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 8.3%
Type II application segment holds a market share of 92% since most diabetic patients are type II diabetics, followed by type I diabetes, holding an 8% market share as it is a rare type of diabetes
Asia Pacific is expected to account for the 17.9% of the global Human Insulin market due to the large prevalence of diabetes and obesity in countries like India and China
Extremely high costs, highly monopolized market, and assosciated side effects are the key challenges faced by the Insulin market players
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For the purpose of this report, Reports and Data has segmented the Human Insulin market on the basis of product type, drug type, device type, application, and region:
Product Type Outlook (Revenue, USD Million; 2016-2026)
Drugs
Delivery Devices
Drug Type Outlook (Revenue, USD Million; 2016-2026)
Insulin Analogs and Biosimilars
Long-Acting Biosimilars
Rapid-Acting Biosimilars
Premixed Biosimilars
Human Insulin Biologics
Short-Acting Biologics
Intermediate-Acting Biologics
Premixed Biologics
Device Type Outlook (Revenue, USD Million; 2016-2026)
Pens
Disposable Pens
Reusable Pens
Pen Needles
Standard Pen Needles
Safety Pen Needles
Syringes
Application Outlook (Revenue, USD Million; 2016-2026)
Type I Diabetes
Type II Diabetes
Regional Outlook (Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Rising prevalence of unhealthy lifestyles
3.2. Increasing incidences of obesity
3.3. Global burden of diabetes
3.4. Worldwide cases of adverse drug reactions
Chapter 4. Human Insulin Segmentation & Impact Analysis
4.1. Human Insulin Segmentation Analysis
4.2. Human Insulin Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
4.4. Human Insulin Market Impact Analysis
4.4.1. Market driver analysis
4.4.1.1. Company agreements
4.4.1.2. Product launches
4.4.1.3. Technological advancements
4.4.1.4. Rise in awareness
4.4.2. Market restraint analysis
4.4.2.1. High costs
4.4.2.2. Side Effects
4.4.2.3. Monopolized market
4.5. Key opportunities prioritized
4.6. Human Insulin Pricing Analysis
4.7. Industry analysis - Porter's
4.8. Human Insulin PESTEL Analysis
Continued…
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