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Human Insulin Market Size, Share & COVID-19 Impact Analysis, By Type (Analogue Insulin And Traditional Human Insulin), By Diabetes Type (Diabetes 1 And Diabetes 2), By Distribution Channel (Hospital Pharmacy And Retail & Online Pharmacy), and Regional Forecast, 2022-2029

Region : Global | Format: PDF | Report ID: FBI100395

 

KEY MARKET INSIGHTS

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The global human insulin market size was valued at USD 18.28 billion in 2021. The market is projected to grow from USD 18.72 billion in 2022 to USD 22.73 billion by 2029, exhibiting a CAGR of 2.8% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with human insulin experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our market analysis, the global market exhibited a decline of 5.5% in 2020 as compared to 2019.


Insulin is a hormone that regulates the body's blood sugar level. Diabetes is a chronic medical condition in which the individual’s blood glucose or sugar level is high. There are currently two major types of diabetes. Type 1 diabetes is a condition where the beta cells of the pancreas stop producing insulin, and type 2 is where the cells of the body loses sensitivity to the insulin produced. 



  • According to the ‘IDF Diabetes Atlas Tenth edition 2021’, globally, around 537.0 million are currently living with diabetes. It is further estimated that the number of patients will rise to 643.0 million by 2045.


Hence, the rising prevalence of diabetes across the globe will strongly support the adoption of human insulin, thereby supporting market growth. This increasing prevalence of diabetes due to the higher adoption of a sedentary lifestyle is projected to propel the insulin market. Combined with this, favorable reimbursement policies in developed countries are estimated to boost the overall market.


COVID-19 IMPACT 


Decline in Demand for Insulin Products owing to Lower Diagnosis Rates during Covid-19 Pandemic 


The emergence of COVID-19 has impeded the demand for insulin due to fewer patients opted for the treatment of diabetes. In addition, key players operating in the market recorded a significant decline in their revenues due to the COVID-19 pandemic. The decline in the volume of diabetes testing and less focus on disease management other than COVID-19 and other major parameters affected insulin sales, especially during the first half of 2020. In terms of revenue, the market witnessed a decline of 5.5% in 2020.


The market players witnessed a significant decline in revenue generated during 2020. For instance, Sanofi registered a decline of around -7.9% in insulin products’ revenues generated in 2020 compared to 2019. In addition, Eli Lilly registered a decline of -4.1% in the revenue generated by insulin products compared to 2019.


However, revoking lockdown restrictions and stay-at-home orders in many countries, along with launches of novel drugs, and re-establishment of the supply chain network have been instrumental for the recovery during 2021. Novo Nordisk A/S insulin products revenue recovered by 4.3% compared to 2020. In addition, the revenues generated by Sanofi in 2021 increased 1.7% compared to the revenues in 2020. Therefore, the resumption of diabetes testing & new launches positively affected the demand for human insulin in 2021.


LATEST TRENDS 


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Growing Adoption of Insulin Analogues to Propel Market Progress


The launch of insulin analogues has provided replacement strategies proposed to mimic normal human physiology more closely. Moreover, a substantial number of studies demonstrate that insulin analogs have pharmacodynamics and pharmacokinetic profiles closer to normal, resulting in faster offset and onset of insulin effect when compared with regular human insulin.


Also, basal insulin analogs (long-acting insulin detemir, insulin glargine) have been reported to offer less variability, longer duration of action, more predictability, favorable effect on weight, and less hypoglycemia (especially nocturnal). Hence, such factors support the usage of analog insulin products across the globe.


DRIVING FACTORS


Increasing Prevalence of Diabetes to Augment Market Growth


Obesity and a sedentary lifestyle are the prominent factors responsible for rising diabetes globally. The prevalence of diabetes has been increasing significantly in recent decades and is estimated to rise significantly in the upcoming decades.



  • According to the ‘IDF Diabetes Atlas Tenth edition 2021’, the diabetic population will grow during the upcoming years. It is projected to rise to 643.0 million in 2030 and is projected to rise to 783.0 million in 2045.

  • Also, a large population suffers from type 1 diabetes. Insulin is very essential for type 1 diabetes patients and is required on a daily basis for glycemic control. According to a study published in Diabetologia, the journal of the European Association for the Study of Diabetes (EASD), the prevalence of type-1 diabetes is estimated to be over 9.0 million people around the world. Moreover, according to International Diabetes Federation, around 10.0% of total diabetic people have type 1 diabetes.


This factor has led to a rise in demand for human insulin globally and is responsible for the market’s growth during the forecast duration.


Increased Launch of Novel Insulin Products to Stimulate Market Growth


The insulin industry is witnessing a significant number of new product launches across the globe. Manufacturers are focusing on the development of novel insulin products to gain a higher market share, thereby augmenting human insulin market growth. For instance, in May 2022, Eli Lilly and Company received approval for a Mounjaro injection, which aids in advancing glycemic control in patients with type 2 diabetes.


In June 2020, the U.S. FDA approved Lyumjev, Eli Lilly, and Company's new rapid-acting insulin indicated to improve glycemic control in adults with type 1 and type 2 diabetes. Hence, such factors will strongly support market expansion.


RESTRAINING FACTORS


Lack of Health Reimbursement & Lower Diagnosis Rates to Restrict Growth in Emerging Countries


In the past decade, insulin has witnessed a significant rise in demand owing to new product adoption and further advancements. However, the lack of reimbursement in emerging and underdeveloped countries restricted the market growth to a certain extent.



  • According to the article published in PharmaBoardroom, India lacks a reimbursement structure for drugs, medical devices, and biologics. In India, out-of-pocket expenditure is the prominent route of financing drugs, medical devices, and biologics.


Moreover, a higher rate of undiagnosed cases of diabetes in underdeveloped countries hampers the overall growth of the market.



  • According to the International Diabetes Federation (IDF), the proportion of undiagnosed diabetes is 53.6% in the African region.


Generally, reimbursement encourages people to adopt the treatment, and diagnosis is the pre-requisite step to undergo treatment. Hence, lack of reimbursement and undiagnosed cases of diabetes limits the huge possible demand for human insulin globally and limits the market’s growth during the forecast duration.


SEGMENTATION


By Type Analysis


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Analogue Insulin Segment to Dominate Backed by Advantages of Analogue Insulin Products 


Analogue insulin dominated the market in 2021, owing to the increasing advantages analogue insulin provides compared to traditional human insulin. According to various published articles and whitepapers, analog insulin has better adherence to therapy and glycemic control. In addition, it does not pose as much a risk of hypoglycemia compared to traditional products. In addition, according to Diabetes.co.uk, analogue insulins are rapidly and uniformly acting types of insulin.


Analogue insulin has hence witnessed a higher demand over the past five years. Combined with this, the recent launch of generic insulin is also expected to propel the analogue insulin market growth.



  • In January 2020, Novo Nordisk A/S launched generic versions of NovoLog and NovoLog mix, both are available at around 50.0% discounted compared to their branded versions.


The traditional human insulin segment is estimated to grow at a slower CAGR compared to analogue insulin, owing to the lower adoption rate of the drug type. Though now there are different kinds of traditional products, such as intermediate-acting and a few others, the increased efficacy and response rate of analogue insulin has resulted in a shift of preference of healthcare providers from traditional to analogue insulin products.


By Diabetes Type Analysis


 Type 1 Diabetes Segment to Grow Substantially Backed by Rising Prevalence of Diabetes


In terms of type, the type 1 diabetes segment is anticipated to exhibit a strong CAGR due to the increasing prevalence of diabetes & daily need for insulin injections to control blood glucose levels in type 1 diabetes patients.



  • According to International Diabetes Federation (IDF), insulin is the most essential medicine for people living with type 1 diabetes. These factors are anticipated to drive this market segment.


The type 2 diabetes segment is estimated to grow at a slower CAGR than type 1 due to the various other treatment options available for type 2 diabetic patients. Type 2 diabetes patients have been prescribed human insulin only when they become refractory to previous other treatment options. However, there is an increased risk of developing type 2 diabetes globally. According to International Diabetes Federation (IDF), 541.0 million adults have Impaired Glucose Tolerance (IGT), which makes them more prone to type 2 diabetes. Hence, type 2 diabetes will experience steady growth during the forecast period.


By Distribution Channel Analysis


Entry of Giant Players Driving the Growth of the Retail & Online Pharmacies Segment 


The retail pharmacies & online pharmacies are projected to generate the highest revenue in the market during the forecast period. The entrance of big companies such as Amazon & Walmart into the retail & online pharmacy business and the introduction of affordable insulin products are projected to boost the retail & online pharmacies market segment.



  • For instance, in June 2021, Walmart launched an analo insulin brand- ReilOn. It is available in vial and pen form. This product’s price is 58.0% to 75.0% lower compared to the price of branded insulin products. Also, in November 2020, Amazon pharmacy started sales & shipping of insulin, owing to which people have started to purchase insulin directly from Amazon’s online portal.


Hospital pharmacy is estimated to grow at an average CAGR during the forecast period owing to the development of hospital infrastructure globally.


REGIONAL INSIGHT


North America Human Insulin Market Size, 2021 (USD billion)

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North America generated a revenue of USD 8.44 billion in 2021. The robust presence of the major insulin manufacturers, strong competition among the companies, and the increasing prevalence of type 1 diabetes are some factors driving North America's insulin drug market. For instance, according to American Diabetes Association (ADA), 1.6 million Americans have type-1 diabetes, including 187,000 children and adolescents. Moreover, the increasing price of insulin in the U.S in the past decade has enabled the North American market to garner a huge portion of the overall market.


According to the Centers for Disease Control and Prevention (CDC), around USD 237.00 billion is spent on the direct medical cost of diabetes in U.S. Additionally, the constant ever greening of insulin products by the key players in the U.S has facilitated the companies to capture major market share in North America market. For instance, according to the article published in Industry Dive, in 2021, CGM and insulin pump penetration is about 30% in the United States.


On the other hand, Europe is anticipated to be the second-most prominent region in terms of revenue by 2029 in the global market. The growth in this region is attributed to the rising penetration of key players in this region.



  • For instance, in September 2021, Sanofi started supplies of its next-generation basal insulin Toujeo Solostar to the European Union countries.


Asia Pacific is projected to grow at the highest CAGR during the forecast period. This factor is attributed to the high risk for the development of diabetes in the population in this region, mostly the geriatric population.



  • According to the Asian Diabetes Prevention Initiative, people in Asia are at a high risk of developing diabetes due to lifestyle & diet trends. These lifestyle & diet trends include smoking, unhealthy eating, lack of exercise, etc.


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The market in Latin America and the Middle East, and Africa is estimated to grow at a slower rate compared to Asia Pacific. The unmet demand for insulin in countries of Latin America, such as Brazil, Mexico, and others, is estimated to be one of the major market drivers in the region.


KEY INDUSTRY PLAYERS


Novo Nordisk, Eli Lilly and Company, and Sanofi Accounts for a Dominant Share in Terms of Revenue


Novo Nordisk A/S captured the largest human insulin market share and is projected to retain its position, due to increasing partnerships strategies of the company and technological innovations in drug discovery. Furthermore, robust investments in research activities to develop a portfolio of superior treatment solutions has enabled the company to hold a leading position in the market.



  • For instance, in November 2021, Novo Nordisk A/S acquired Dicerna Pharmaceuticals, including its Dicerna’s ribonucleic acid interference (RNAi) platform, in addition to Novo Nordisk’s research technology platforms used across all Novo Nordisk’s therapeutic areas.


Novo Nordisk A/S, along with Sanofi, Eli Lilly, and Company, currently holds a major share of the market in terms of revenue. Other players operating in the market are Biocon, Julphar, Tonghua Dongbao Pharmaceutical, and Wockhardt, among others. Julphar Diabetes is the division of Julphar that manufactures recombinant human insulin and insulin analogues crystals. The company also it has several businesses in the Middle East. Tonghua Dongbao Pharmaceutical developed the first recombinant insulin in China. The company is involved in the research & development, production, and marketing of products.


LIST OF KEY COMPANIES PROFILED:



  • Novo Nordisk A/S (Denmark)

  • Eli Lilly and Company (U.S.)

  • Sanofi (France)

  • BIOTON S.A. (Poland)

  • Gan & Lee Pharmaceuticals Co Ltd. (Germany)

  • Biocon (India)

  • Tonghua Dongbao Pharmaceutical (China)

  • Julphar (UAE)

  • Wockhardt (India)


KEY INDUSTRY DEVELOPMENTS:



  • April 2022: Biocon received the grant of a 3-year contract for the supply of recombinant human insulin, named Insugen, from the ministry of health Malaysia, valued at USD 90.0 million, and strengthened its footprint in the emerging market like Malaysia.

  • February 2022: Biocon entered into a collaboration with Viatris Inc. to acquire the biosimilar business of Viatris and strengthened the company’s R&D and manufacturing facility to commercialize its capabilities.

  • November 2021: Biocon collaborated with the Research Society for the Study of Diabetes in India (RSSDI) and launched a comprehensive care program for type 1 diabetic patients that helped to maintain their brand image in the market.

  • September 2021: Eli Lilly and Company reduced the price of the Lispro injection in the U.S., which helped patients to reduce their out-of-pocket expenses and make it available at a more affordable price.

  • November 2019: The World Health Organization (WHO) announced a pilot program to prequalify human insulin to increase treatment for diabetes in low- and middle-income countries.

  • January 2019: Julphar announced the collaboration with a pharmaceutical company called Searle. The new collaboration assisted the company in launching Juslin, a human insulin formulation for Pakistan and other South Asian nations


REPORT COVERAGE


An Infographic Representation of Human Insulin Market

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The human insulin market research report elaborates on the global market dynamics and competitive landscape. Various key insights presented in the report are the prevalence of diabetes in key countries, pricing analysis by key players, advancements in insulin products, key mergers, acquisitions, and partnerships, competitive landscape, and company profiles.


Report Scope & Segmentation






















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD billion)



Segmentation



Type, Diabetes Type; Distribution Channel; and Region



By Type




  • Analogue Insulin

    • Long-acting

    • Fast-acting

    • Premix



  • Traditional Human Insulin

    • Long-acting

    • Short-acting

    • Fast-acting

    • Premix





By Diabetes Type




  • Diabetes Type 1

  • Diabetes Type 2



By Distribution Channel




  • Hospital Pharmacies

  • Retail & Online Pharmacies



By Geography




  • North America (By Type, By Diabetes Type, By Distribution Channel, and By Country)

    • U.S. (By Diabetes Type)

    • Canada (By Diabetes Type)



  • Europe (By Type, By Diabetes Type, By Distribution Channel, and By Country)

    • U.K. (By Diabetes Type)

    • Germany (By Diabetes Type)

    • France (By Diabetes Type)

    • Italy (By Diabetes Type)

    • Spain (By Diabetes Type)

    • Scandinavia (By Diabetes Type)

    • Rest of Europe (By Diabetes Type)



  • Asia Pacific (By Type, By Diabetes Type, By Distribution Channel, and By Country)

    • China (By Diabetes Type)

    • Japan (By Diabetes Type)

    • India (By Diabetes Type)

    • Australia (By Diabetes Type)

    • Southeast Asia (By Diabetes Type)

    • Rest of Asia Pacific (By Diabetes Type)



  • Latin America (By Type, By Diabetes Type, By Distribution Channel, and By Country)

    • Brazil (By Diabetes Type)

    • Mexico (By Diabetes Type)

    • Rest of Latin America (By Diabetes Type)



  • Middle East & Africa (By Type, By Diabetes Type, By Distribution Channel, and By Country)

    • GCC (By Diabetes Type)

    • South Africa (By Diabetes Type)

    • Rest of Middle East & Africa (By Diabetes Type)





Frequently Asked Questions

Fortune Business Insights says that the human insulin market was valued at USD 21.26 billion in 2018 and is projected to reach USD 27.71 billion by 2026.

In 2018, the Human insulin market was valued at USD 21.26 billion.

Growing at a CAGR of 3.4%, the human insulin market will exhibit steady growth in the forecast period (2019-2026)

The analogue Insulin segment is expected to be the leading segment in human insulin market during the forecast period.

Increasing prevalence of diabetes worldwide will drive the growth of the human insulin market.

Novo Nordisk A/S, Elli Lily and Company and Sanofi are the top players in human insulin market.

North America is expected to hold the highest market share in the human insulin market.

Asia Pacific is expected to grow at a higher CAGR in the human insulin market.

Launch of analogue insulin would drive the adoption of Insulin in the forthcoming years.

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