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Human Insulin Market to Reach USD 22.73 Billion by 2029; Rising Prevalence of Diabetes to Propel Market Growth

November 10, 2022 | Healthcare

The global human insulin market exhibited strong growth, reaching USD 22.73 billion by 2029. Fortune Business Insights™ in its report titled “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” observes that the market size in 2021 stood at USD 18.28 billion and touched USD 18.72 billion in 2022. The market exhibited a CAGR of 2.8% during 2022-2029. The increasing adoption of insulin analogues and the increasing prevalence of diabetes is expected to enhance this market’s progress during the upcoming years.


Sanofi Entered a Collaboration to Accelerate Manufacturing and Boost Sales


Sanofi collaborated with McLaren in April 2022 to accelerate its manufacturing activities. This strategy may empower Sanofi and McLaren to enhance their sales and expand their market presence.


Declining Demand for the Insulin from Patients Elevated Market Progress During COVID-19


This industry was negatively affected during the COVID-19 pandemic due to patients' reduced adoption of insulin. The sudden spike in COVID-19 patients bolstered the adoption of medical equipment used for infected patients, thereby reducing sales. Furthermore, the restrictions imposed on manufacturing hampered insulin production, thereby hampering the industry’s growth prospects. However, the resumption of activities after the lockdown bolstered the adoption of insulin, thereby positively affecting the industry’s growth.  


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/human-insulin-market-100395


Launch of Novel Product Launches Bolstered the Industry’s Growth


Human insulin is a hormone that regulates the body’s blood sugar levels. Insulin is used to treat patients who have diabetes. The increasing prevalence of diabetes conditions is likely to enhance adoption of the insulin. Further, the rising launch of novel products by manufacturers may enhance the market’s growth prospects. For example, Eli Lilly and Company’s Mounjaro injection received official approval in May 2022. This injection aids type 2 patients in enhancing their glycemic control. In addition, increased spending on healthcare devices may drive the human insulin market growth.


Major Players Devise Acquisition Strategies to Expand its Resources


The prominent players operating in the industry deploy acquisition strategies to expand their resources. For example, Novo Nordisk A/S acquired Dicerna Pharmaceuticals and Dicerna’s ribonucleic acid interference (RNAi) platform in November 2021. This strategy may enable Novo Nordisk A/S to bolster its market reach. Further, key companies deploy mergers, product launches, acquisitions, innovations, expansions, and research, and development to elevate their market position.


Key Industry Development



  • May 2020- Novo Nordisk A/S announced its novel social responsibility ‘Defeat Diabetes’ program to expand the company’s Changing Diabetes in Children (CDiC) program.


List of Key Players Profiled in the Report



  • 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)


Further Report Findings



  • The market in North America stood at USD 8.44 billion in 2021 and is expected to gain a huge portion of the global human insulin market share in the upcoming years. The presence of numerous players is expected to elevate this industry’s progress.

  • Further, the rising prevalence of several type 1 diabetes patients may enhance the demand for human insulin.

  • In Europe, the rising penetration of several companies is expected to enhance the human insulin industry’s progress.


Table of 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)




Human Insulin Market
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  • 2021
  • 2018-2020
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