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Human Insulin Market Size, Share & Industry Analysis, By Type (Analogue Insulin, Traditional Human Insulin), By Diabetes Type (Type 1, Type 2), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, Online Pharmacy), and Regional Forecast, 2019-2026

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

 

KEY MARKET INSIGHTS

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Insulin functions as a hormone that regulates the blood sugar level of the body. 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 pancreases stop producing insulin and type 2 is where the cells of the body loose sensitivity to the insulin produced.  According to the Diabetic statistics report published by the Centers for Disease Control and Prevention (CDC) in 2017, around 30.3 million U.S. population were suffering from diabetes, among which 23.1 million were diagnosed with diabetes, and the remaining was still undiagnosed.


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Additionally, according to the International Diabetes Federation, at present an estimated 425 million people globally suffer from diabetes. This increasing prevalence of diabetes due to higher adoption of sedentary lifestyle is projected to propel the insulin market. Combined with this, the evolving healthcare infrastructure and increasing disposable income in the emerging market are anticipated to boost the overall human insulin market.


MARKET DRIVERS


“Increasing Prevalence of Diabetes Around the Globe and Rising Number of Geriatric Population to Fuel the Demand for Insulin Worldwide”


The increasing prevalence of diabetes type 1, especially in countries of North America and emerging countries in Asia Pacific is estimated to be the major market drivers. The rise in sedentary lifestyle in the U.S and some of the Asia Pacific countries have led to an increase in the prevalence of diabetes. Additionally, increasing awareness of diabetes has led to an increase in the diagnosis rate of type 1 diabetes. According to a research article published by the Health Action International (2016), around 100 million people require insulin including 10-20% suffering from type 2 diabetes. Since, type 1 diabetic patients are completely insulin-dependent, the growing prevalence is estimated to boost the human insulin market growth during the forecast period.


According to the International Diabetes Federation, around 159 million people suffered from diabetes in the year 2017, and this is estimated to grow to 183 million by 2045. Over the past decade, developed and developing countries are witnessing an increase in the geriatric population. This is predominantly attributable to the advancing healthcare facilities for the treatment of chronic disorders. However, the increasing number of aged population has also lead to an increase in the prevalence of diabetes. The risk of diabetes is anticipated to increase with growing age. According to various resources, currently around 25% of adults over 60 years are suffering from diabetes.


“Insufficient Competition of Biosimilar in the Market Combined with Lack of Trust of Patients in Biosimilar is estimated to boost the Market”


The market dominance of key players in developed countries like the United States has led to an increase in the market value of insulin in the world. Novo Nordisk A/S, Elli Lily and Company, and Sanofi cumulatively hold more than 90% share in terms of human insulin market revenue. This is majorly attributed to the ever greening of patents currently held by these dominating players. Additionally, the increasing price of insulin in the U.S is estimated to further boost the human insulin market growth. According to the T1International survey in 2016, the average US diabetic pays around US$ 210 per month for insulin supply compared to just US$ 50 in India.


Combined with this, the lack of trust of patients on biosimilar drugs is also a major factor in augmenting the insulin industry growth. The lack of biosimilar competition in the market-dominating region of North America is also expected to augment the market growth. According to the Health Action International (2016), there are only around three manufacturers of insulin in the U.S. U.S generates around 49% of revenue in the market as of 2018, whereas there are around more than eight manufacturers of insulin in Asia Pacific according to the above study.


SEGMENTATION


By Type Analysis


“Analogue Insulin Generated the Highest Revenue in 2018 and is estimated to Grow at a Faster Rate during the Forecast Period”


Based on product 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.


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The analogue insulin is estimated to hold the major market share in the global human insulin market in 2018 and is projected to grow at a faster rate during the forecast period. This market trend is anticipated owing to the increasing advantages analogue insulin provides compared to the traditional human 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 human insulin market growth. In April 2019, Eli Lilly and Company launched Insulin Lispro, a generic version of rapid-acting analogue Humalog insulin, which shall be available in the United States for half the list price of Humalog making it more accessible for diabetic patients.


The traditional human insulin segment is estimated to grow at a slower CAGR compared to analogue insulin owing to lower adoption rate of the drug type. Though, now there are different kinds of traditional human insulin, the increased efficacy and response rate of analogue insulin has resulted in this specific market trend.


By Diabetes Type Analysis


“Diabetes Type 1 is Anticipated to Exhibit a Significant CAGR during the Forecast Period.”


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 anticipated to grow at a faster CAGR. This is predominantly owing to the increasing diagnosis rate of type 1 diabetes. According to the International Diabetes Federation (2017), an estimated 28,000 children below 19 years of age are diagnosed with type 1 diabetes each year in Europe. The increasing access to insulin in developed countries for type 1 diabetes is also anticipated to drive this market segment.


The type 2 diabetes segment is estimated to grow at a slower CAGR compared to type 1 due to the various other treatment options available for type 2 diabetic patients. Type 2 diabetes patients have prescribed insulin only when they become refractory to previous other treatment options. However, there is an increase in number of type 2 diabetic patients requiring insulin treatment over past few years. Hence, type 2 diabetes will experience steady growth during the forecast period.


By Distribution Channel Analysis


“Retail Pharmacy to Hold a Leading Position in the Human Insulin Market in Terms of Revenue


Based on the distribution channel, the human insulin market is segmented into retail pharmacy, online pharmacy, and hospital pharmacy


The retail pharmacy is projected to generate the highest revenue in the Insulin industry during the forecast period. The higher availability of insulin in retail channel is estimated to the major driving factor for the segment. However, the recent trend of adoption of online pharmacy for insulin is projected to boost the online pharmacy market segment. This is mainly on account of increasing discounts offered by the online pharmacy compared to the expensive insulin available in the market. Hospital pharmacy is estimated to grow at a slower CAGR during the forecast period.


REGIONAL ANALYSIS


North America generated a revenue of USD 10.42 billion in 2018 and is expected to dominate the global human insulin market throughout the forecast period. Robust presence of the major players of insulin manufacturers, strong competition among the companies and the increasing prevalence of type 1 diabetes are some of the factors anticipated to drive the insulin drugs market in North America. Moreover, increasing the 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. Additionally, the constant evergreening of the insulin products by the key players in the U.S has facilitated the companies to capture major market share in North America human insulin market.


North America Human Insulin Market Size, 2018

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On the other hand, Europe is anticipated to be the second-most prominent region in terms of revenue by 2026 in the global human insulin market. Asia Pacific is projected to grow at the highest CAGR during the forecast period. This is attributed to the higher volume share consumption of insulin due to higher prevalent population of diabetes in the region. The increasing disposable incomes in the emerging countries of Asia Pacific such as China, India, etc. and higher availability of generic insulin in the region are estimated to drive the market in the coming years. The human insulin 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 human insulin market driver in the region.


INDUSTRY KEY PLAYERS


“Novo Nordisk A/S, Eli Lilly and Company, and Sanofi Accounts for More than Half of the Market Share in Terms of Revenue”


Novo Nordisk A/S is the leading player in the global human insulin market and is estimated to retain its position during the forecast duration. This is owed to the increasing partnerships strategies of the company and technological innovations in drug discovery. Combined with this the growing investment of the company in research activities to develop a portfolio of superior treatment solutions has enabled the company to hold a leading position in the market. Additionally, Novo Nordisk A/S has strong strategic plans with an aim to target emerging and underdeveloped countries. Novo Nordisk A/S, along with Sanofi, Eli Lilly and Company currently holds more than 90% of the human insulin market share in terms of revenue. Other players operating in the global human insulin market are Biocon, Julphar, Tonghua Dongbao Pharmaceutical, Wockhard, among prominent others.


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REPORT COVERAGE


Insulin is currently the only treatment option available for type 1 diabetes. Insulin is proven to be effective in maintaining the glucose level in patients with diabetes and as well as easier to administer with the use of insulin pens. The rapidly growing prevalence of type 1 and type 2 diabetes and unmet demand in emerging nations are some of the factors anticipated to drive the growth of the global insulin drugs market by 2026.


 The report presents a comprehensive assessment of the global human insulin market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per the market segments, helping our readers to get a comprehensive overview of the global market.


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Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of diabetes, pipeline analysis, pricing analysis, brand analysis, key market strategies of leading players, and regulatory overview in key countries/regions.


Report Scope & Segmentation











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



Segmentation



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



  • Retail Pharmacies

  • Hospital Pharmacies

  • Online Pharmacies



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



INDUSTRY DEVELOPMENT:



  • Year 2016: Biocon received approval in the Japanese market for the company’s Insulin Glargine.

  • April 2019: Eli Lilly and Company launched introduced a generic version of Humalog in the U.S market that is 50% cheaper than the current Humalog price.

  • December 2017: Novo Nordisk A/S announced that the company is expanding its current insulin manufacturing plant in Indrad near Ahmedabad, India.


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.

Human Insulin Market Size, Share and Global Industry Trend Forecast till 2026
  • Jan, 2020
  • 2018
  • 2015-2017
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