Human Insulin Market: Global Industry Analysis And Forecast(2023-2029)

Human Insulin Market was valued at USD 24.30 Billion in 2022, and it is expected to reach USD 30.71 Billion by 2029, exhibiting a CAGR of 3.4 % during the forecast period (2023-2029)
Human Insulin Market Overview:
The Global Human Insulin Market is segmented by type, diabetes type, and distribution channel.The Based on type, the market is segmented into analogue insulin (long-acting, fast-acting, premix) and traditional human insulin (long-acting, short-acting, fast-acting, premix). It is Based on diabetes type, the market is segmented into diabetes type 1 and diabetes type 2. Based on distribution channel, the market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies). Based on region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and South America.To know about the Research Methodology :- Request Free Sample Report

Insulin performs as a hormone that controls the body's blood sugar level. Diabetes is a long-term medical disorder in which a person has high blood sugar or glucose levels. Currently, there are two main forms of diabetes. Of type 1 diabetes, the beta cells in the pancreas cease manufacturing insulin, but in type 2, the body's cells lose their sensitivity to the created insulin. In 2022, the Centers for Disease Control and Prevention (CDC) reported that there were around 30.3 million diabetics in the United States, of whom 23.1 million had been given a diagnosis and the remainder had not yet received one.

Additionally, the International Diabetes Federation estimates that 425 million people in the world currently have diabetes. The market for insulin is expected to grow due to the rising prevalence of diabetes brought on by a more sedentary lifestyle. Along with this, it is estimated that the developing healthcare infrastructure and rising disposable income in the emerging market would increase the total demand for human insulin.
Human Insulin Market Dynamics
The global demand for insulin is being driven by growing rates of elderly population and diabetes incidence. The main market drivers are the rising rates of type 1 diabetes, particularly in emerging economies in Asia Pacific and North America. The prevalence of diabetes has increased as a result of an increase in sedentary lifestyles in the US and several Asia Pacific nations. The rate of type 1 diabetes diagnoses has also increased as diabetes awareness has grown. A study by Health Action International in 2016 found that over 100 million individuals need insulin, with 10 to 20 percent of those having type 2 diabetes.

Since people with type 1 diabetes are totally reliant on insulin, it is expected that the market for human insulin would develop faster than expected during the forecast period. The International Diabetes Federation estimates that 159 million people worldwide have diabetes in 2022, and that number would rise to 183 million by 2045. The elderly population has grown in both industrialised and developing nations during the past ten years. This is mostly due to the development of healthcare facilities for the management of chronic illnesses. But the ageing population has also contributed to a rise in the prevalence of diabetes. With advancing age, the risk of diabetes is expected to grow.

The market is expected to grow as a result of patients' lack of trust in biosimilars combined with insufficient market competition among biosimilars. The market value of insulin globally has increased as a result of the market domination of major players in industrialised nations like the United States. In terms of sales, Novo Nordisk A/S, Elli Lily and Company, and Sanofi collectively account for more than 90% of the market for human insulin. This is mostly due to the constantly expanding patent portfolios now held by these dominant firms. Additionally, it is predicted that the rising cost of insulin in the US will accelerate the expansion of the human insulin market.

The average US diabetic pays roughly USD210 per month for insulin supplies, compared to just USD50 in India, according to the T1International survey from 2016. Along with this, a significant contributor to the expansion of the insulin sector is patients' lack of confidence in biosimilar medications. The market growth is also expected to boost by the absence of biosimilar competition in North America, which currently dominates the industry. In the United States, there are only around three insulin producers, according to Health Action International (2016). As of 2022, the U.S. generated around 49% of the market's revenue. In contrast, the Asia Pacific region is home to more than eight insulin producers.
Human Insulin Market Segment Analysis
Based on type, the human insulin market can be segmented into analogue insulin and traditional human insulin. Analogue insulin is further bifurcated into long-acting insulin, fast-acting insulin, and premix insulin. The traditional insulin is segmented into long-acting insulin, short-acting insulin, fast-acting insulin, and premix insulin.

According to estimates, analogue insulin will dominate the global market for human insulin dominate and is expected to expand more quickly over the next years. Due to the growing benefits analogue insulin offers over conventional human insulin, this market development is expected. As a result, demand for analogue insulin has increased during the past five years. In addition to this, the recent introduction of generic insulin is also expected to spur market expansion for human insulin.

Insulin Lispro, a generic version of the rapid-acting analogue insulin Humalog, was introduced in April 2019 by Eli Lilly and Company. It will be sold in the United States for half the list price of Humalog, making it more affordable for diabetic patients. Due to a lower acceptance rate for the pharmacological class, the conventional human insulin sector is predicted to increase at a slower CAGR than analogue insulin. Despite the fact that there are now several varieties of conventional human insulin, this particular market trend is a result of the analogue insulin's higher effectiveness and response rate.

Based on diabetes type, the insulin drugs market is bifurcated into type 1 diabetes and type 2 diabetes. In terms of type, the type 1 diabetes segment is estimated to grow at a faster CAGR. This is mostly caused by the rise in type 1 diabetes diagnoses. The International Diabetes Federation (2022) estimates that each year in Europe, 28,000 children under the age of 19 are given a type 1 diabetes diagnosis. This market sector is expected to be driven by increased availability to insulin for type 1 diabetes in developed nations. Due to the numerous additional treatment options available for type 2 diabetic patients, the type 2 diabetes category is anticipated to develop at a slower CAGR than type 1 diabetes. Patients with type 2 diabetes only receive insulin prescriptions after they stop responding to other forms of therapy. However, during the past several years, there has been a rise in the number of type 2 diabetes individuals needing insulin therapy. As a result, type 2 diabetes will continue to rise steadily during the forecast period.

Based on the distribution channel, the human insulin market is segmented into retail pharmacy, online pharmacy, and hospital pharmacy. During the forecast period, the retail pharmacy is estimated to generate the most revenue in the Insulin market. According to estimates, the main element driving the segment's growth is the increased availability of insulin in the retail market. However, it is anticipated that the new trend of using an online pharmacy for insulin will expand the market for online pharmacies. This is mostly due to the reductions provided by the online pharmacy in comparison to the pricey insulin on the market. Hospital pharmacy is estimated to grow at a slower CAGR during the forecast period.
Regional Insights
North America generated a revenue of USD 10.42 billion in 2022, is expected to dominate the global market for human insulin during the forecast period. A number of reasons are expected to propel the insulin medicines market in North America, including the substantial presence of the main insulin makers, fierce rivalry among the businesses, and the rising incidence of type 1 diabetes. Additionally, the recent increase in insulin prices in the US has allowed the North American industry to capture a sizable piece of the global market. Additionally, the top competitors in the U.S. have consistently improved their insulin products, allowing the businesses to gain a significant market share in the North American human insulin market.

Europe, on the other hand, is expected to rank second in terms of revenue in the global market for human insulin by 2029. The region with the greatest expected CAGR during the forecast period in the Asia Pacific. This is explained by the increased volume share of insulin usage brought on by the higher prevalence of diabetes in the area.

In the next years, the market is expected to be driven by increasing disposable incomes in Asia Pacific's developing nations, including China, India, and others, as well as a greater supply of generic insulin in the area. In comparison to the Asia Pacific, it is expected that the markets for human insulin in South America, the Middle East and Africa would expand more slowly. One of the main factors driving the human insulin market in the area, according to estimates, is the unmet need for insulin in Latin American nations like Brazil, Mexico, and others.
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Global Human Insulin Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US 24.30 Bn.


Forecast Period 2023 to 2029 CAGR:
3.4 %
Market Size in 2029:
US 30.71 Bn.


 Segments Covered:
by Type
Analogue Insulin
Long-acting
Fast-acting
Premix
Traditional Human Insulin
Long-acting
Short-acting
Fast-acting
Premix


by Diabetes Type
Diabetes Type
Diabetes Type


by Distribution Channel
Retail Pharmacies
Hospital Pharmacies
Online Pharmacies



Human Insulin Market by Region:
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players:
1. Tonghua Dongbao Pharmaceutical
2. Boehringer Ingelheim International GmbH
3. Boston Scientific Corporation
4. Sanofi
5. Eli Lilly and Company
6. Biocon Ltd.
7. Julphar
8. Ypsomed AG
9. Becton
10. Dickinson and Company
11. Wockhardt Ltd.
12. B. Braun Meselgen AG
13. Biodel Inc
14. Novo Nordisk A/S
15. Adocia
16. Merck & Co., Inc.
17. Pfizer, Inc.
18. GalxoSmithCline

Frequently Asked Questions:

1] What segments are covered in the Global Human Insulin Market report?
Ans. The segments covered in the Human Insulin Market report are based on Type, Diabetes Type, and Distribution Channel.

2] Which region is expected to hold the highest share in the Global Human Insulin Market?
Ans. The North America region is expected to hold the highest share in the Human Insulin Market.

3] What is the market size of the Global Human Insulin Market by 2029?
Ans. The market size of the Human Insulin Market by 2029 is expected to reach USD 30.71 Bn.

4] What is the forecast period for the Global Human Insulin Market?
Ans. The forecast period for the Human Insulin Market is 2023-2029.

5] What was the market size of the Global Human Insulin Market in 2022?
Ans. The market size of the Human Insulin Market in 2022 was valued at USD 24.30 Bn.