Pune, Sept. 07, 2020 (GLOBE NEWSWIRE) — The global human insulin market size is anticipated to reach USD 27.71 billion by 2026. International Diabetes Federation (IDF) reported that around 425 million people across the world suffer from diabetes.
Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
April 2019: Eli Lily and Company to launch a low-priced insulin called Humalog in the U.S. to fulfil the needs of people who need insulin.
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Presence of Giant Insulin Manufacturers to Give Impetus to the Growth in North America
From a geographical standpoint, North America continues to maintain its dominance in the global human insulin market through the forecast years. The report indicates that the market in this region was worth USD 10.42 billion in the year 2018. The growth in the market is driven by the existence of key insulin manufacturers and robust competition among each other.
In addition to this, the increasing prevalence of type 1 diabetes in North America is enabling growth in the market. The higher prices of insulin in the U.S. is likely to garner growth in the market, which in turn, will foster the human insulin market size in North America. Other factors driving the insulin drugs market in this region are increasing healthcare spending and rising research and development (R&D) activities for the successful development of biosimilars.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get the short-term and long-term impact of COVID-19 on this Market.
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Eli Lilly & Company to Launch Analogue Humalog Insulin in the U.S.
Among products, analogue insulin covered the maximum part in the human insulin market share in 2018. Analogue insulin helps to control blood sugar levels in people suffering from type 1 and type 2 diabetes. Driven by this, the adoption of analogue insulin is increasing, which increases the human insulin market size.
This, coupled with the recent launch of generic insulin, is expected to contribute to the growth of the market. For instance, Eli Lilly and Company announced the launch of a generic version of analogue Humalog insulin called Insulin Lispro in April 2019. Owing to the cheaper rates of Humalog, this insulin is more accessible to diabetic patients in the country. This segment is expected to drive the human insulin market in the foreseeable future.
Novo Nordisk to Expand its Insulin Manufacturing Plant in India
The prevalence of diabetes is increasing across the world, one of the primary human insulin market trends. In a 2017 report published by the Centers for Diseases Control and Prevention (CDC), it was found that around 30.3 million people in the U.S. suffered from diabetes. Furthermore, it was stated that among the above numbers, around 23.1 million were diagnosed, while the rest were not diagnosed.
The increasing adoption of a sedentary lifestyle is the primary reason behind the prevalence of diabetes. This, as a result, will fuel demand for insulin pens and insulin injections among masses. Consequently, Biocon plans to develop an oral insulin tablet called Tregopil for people suffering from Type 1 and Type 2 diabetes. This tablet aims to improve the post-prandial blood sugar control and has minimum side-effects. As per the report, companies such as Eli Lilly and Company, Sanofi, and Novo Nordisk A/S hold the maximum share in the global market.
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List of the other key players operating in the market are:
- Novo Nordisk A/S
- Eli Lilly and Company
- Boston Scientific Corporation
- Boehringer Ingelheim International GmbH
- Tonghua Dongbao Pharmaceutical
- Other prominent players
Several companies are focusing on to develop their product portfolio by targeting emerging or underdeveloped countries. For instance, Novo Nordisk plans to expand its manufacturing facility plant in Ahmedabad, India. This facility ensures the provision of high-quality quality and affordable insulin for diabetic patients.
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Human Insulin Market Segmentations:
• Analogue Insulin
• Traditional Human Insulin
By Diabetes Type
• Diabetes Type 1
• Diabetes Type 2
By Distribution Channel
• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies
• 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)
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Have a Look at Related Reports:
Diabetes Drugs Market Share and Global Trend By Drug Class (Insulin, DPP-4 Inhibitors, GLP-1 Receptor Agonists, SGLT2 Inhibitors), Diabetes Type (Type 1, Type 2), Route of Administration (Oral, Subcutaneous, Intravenous), Distribution Channel (Online pharmacies, Hospital Pharmacies, Retail Pharmacies) & Geography Forecast till 2026
Diabetes Treatment Devices Market Share and Global Trend By Product (Insulin Pens, Insulin Pumps, Insulin Jet Injectors, Insulin Syringes, Others), By Distribution Channel (Institutional Sales (Hospitals, Clinics), Retail Sales (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)) & Geography Forecast till 2026
Blood Glucose Monitoring Systems Market Share & Industry Analysis, By Device (Continuous Blood Glucose Monitoring Systems, Self-monitoring of Blood Glucose Systems), By Type (Invasive, Non-invasive), By Modality (Wearable, Non-wearable), By Distribution Channel (Institutional Sales, Retail Sales), and Regional Forecast 2019-2026
Diabetes Devices Market Share and Global Trend By Product (Monitoring Devices, Treatment Devices), By Distribution Channel (Institutional Sales, Retail Sales) and Geography Forecast till 2026
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