USD 19.05 Billion
Global Human Insulin Market Size, Share, Growth Analysis, By Type(Traditional human insulin and analog insulin), By Application(Type 1 diabetes, type 2 diabetes), By Distribution channel(Hospital pharmacies, retail pharmacies) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2266 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
89 |
Figures:
76
Global Human Insulin Market Insights
Global Human Insulin Market size was valued at USD 19.05 Billion in 2022 and is poised to grow from USD 19.37 Billion in 2023 to USD 22.17 Billion by 2031, at a CAGR of 1.7% during the forecast period (2024-2031).
Global Human Insulin Market is a thriving sector that plays a pivotal role in managing diabetes worldwide. With the rising prevalence of diabetes globally, there is an ever-increasing demand for insulin. The market aims to address this demand by manufacturing and distributing human insulin products to healthcare providers, pharmacies, and patients worldwide. Growing Prevalence of Diabetes: The exponential rise in the number of people diagnosed with diabetes is a major driver for the human insulin market. According to the International Diabetes Federation, approximately 463 million adults were living with diabetes in 2019, and this number is projected to reach 700 million by 2045. The need for insulin to manage diabetes is thus expected to surge significantly, driving the market growth.
Continuous advancements in insulin production techniques, such as recombinant DNA technology, have led to the development of highly purified and safer forms of human insulin. These technological innovations have enhanced the efficacy and safety profile of insulin products, boosted their adoption, and drive market growth. Efforts by healthcare organizations, governments, and non-profit organizations to raise awareness about diabetes and its management have improved patient education and access to insulin. Initiatives to make insulin more affordable and available in developing countries have also played a vital role in driving market growth.
Despite efforts to improve access, the cost of insulin remains a significant barrier for many patients, particularly in low-income regions. The high production costs, complex manufacturing processes, and limited competition contribute to the elevated prices of insulin products, limiting affordability and hindering the market growth. The presence of patent exclusivity for certain insulin products and complex regulatory processes poses challenges to market entry and competition. This can impede the availability of generic versions and biosimilar insulin products, limiting choices for patients and restraining market expansion. There is a notable trend of transitioning from traditional human insulin to analog insulin. Analog insulin offers advantages such as faster onset, shorter duration of action, and improved glycemic control. As a result, healthcare providers and patients are increasingly opting for analog insulin, driving its market growth. The market is witnessing a growing demand for insulin delivery devices, such as insulin pens and insulin pumps. These devices offer convenient and accurate insulin administration, enhancing patient adherence and ease of use. The integration of advanced technologies, such as connected devices and artificial intelligence, is further driving the adoption of insulin delivery devices.
US Human Insulin Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Analog Insulin
Fastest Growth
Analog Insulin
Growth Rate
1.7% CAGR
Global Human Insulin Market ($ Bn)
Country Share for North America Region (%)
Global Human Insulin Market By Type ($ Bn)
Global Human Insulin Market By Type (%)
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Global Human Insulin Market Segmental Analysis
Global Human Insulin Market is segmented on the basis of type, application, distribution channel, and region. By type, the market is segmented into traditional human insulin and analog insulin. By application, the market is segmented into type 1 diabetes, type 2 diabetes, and gestational diabetes. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and diabetes clinics. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Type
Analog insulin is the largest segment in the global human insulin market, capturing a significant share due to its numerous advantages over traditional human insulin. Analog insulin is a synthetic form of insulin that is structurally modified to replicate the natural insulin secretion pattern in the body more closely. This modification enables analog insulin to provide faster onset, shorter duration of action, and better postprandial glucose control, leading to improved glycemic management for diabetic patients. The popularity of analog insulin stems from its ability to offer enhanced flexibility in dosing, allowing patients to better align insulin administration with their meal intake. This feature not only improves patient convenience but also helps in achieving better glycemic control, reducing the risk of complications associated with diabetes. The demand for analog insulin has surged in recent years due to its superior efficacy and patient benefits. Healthcare providers worldwide have recognized the clinical advantages of analog insulin and are increasingly prescribing it as a preferred choice for diabetes management. This has significantly contributed to the dominant market position of the analog insulin segment.
The fastest growing segment in the global human insulin market is biosimilar insulin. Biosimilar insulin refers to biological products that are highly similar to already authorized reference insulin products. These products offer a more affordable alternative to branded insulin, thereby addressing the issue of high insulin costs and improving patient access. Biosimilar insulin holds immense potential as it allows for increased competition and market entry of cost-effective insulin products. With the expiry of patents for several reference insulin products, the market has witnessed the introduction of biosimilar insulin options, providing patients with more choices and fostering the market growth. Moreover, regulatory authorities, recognizing the significance of biosimilar insulin in improving insulin affordability, have implemented favorable guidelines and pathways to expedite the approval process. This regulatory support has further propelled the growth of the biosimilar insulin segment.
Analysis By Distribution Channel
Hospital pharmacies hold the largest share of the global human insulin market. This can be attributed to several factors that make hospital pharmacies a preferred distribution channel for insulin products. Firstly, hospitals are primary healthcare institutions where patients with diabetes receive comprehensive medical care. As a result, hospital pharmacies serve as a centralized hub for the procurement and dispensing of insulin, catering to a large patient population. Furthermore, hospital pharmacies offer several advantages that contribute to their prominence in the market. They ensure a reliable supply chain, maintaining an inventory of various insulin formulations and accommodating different dosage requirements. This ensures that healthcare providers have easy access to a wide range of insulin options to meet individual patient needs effectively. Hospital pharmacies also provide specialized storage conditions, ensuring the integrity and stability of insulin products, which is crucial for maintaining their efficacy. Moreover, hospital pharmacies play a vital role in educating healthcare professionals about the appropriate use and administration of insulin. They provide training sessions and guidelines to doctors, nurses, and other healthcare staff, ensuring safe and effective insulin therapy for patients. This expertise and support offered by hospital pharmacies make them a trusted source for insulin products, reinforcing their position as the largest distribution channel in the market.
Online pharmacies represent the fastest-growing segment in the global human insulin market. With the rapid digitalization of healthcare services and the increasing popularity of e-commerce, online pharmacies have witnessed significant growth in recent years. This growth is further fueled by various factors that make online pharmacies an attractive option for insulin procurement. One of the key advantages of online pharmacies is convenience. Patients can order insulin products from the comfort of their homes and have them delivered to their doorstep. This is particularly beneficial for individuals with limited mobility or those residing in remote areas where access to physical pharmacies may be challenging. Online pharmacies also provide a seamless ordering process, allowing patients to browse through a wide range of insulin options, compare prices, and read customer reviews before making a purchase decision. Additionally, online pharmacies often offer competitive pricing and discounts, making insulin products more affordable for patients. This addresses one of the major challenges in the market, namely the high cost of insulin. The availability of generic and biosimilar insulin products through online platforms further contributes to the growth of this segment. Furthermore, online pharmacies prioritize patient privacy and confidentiality, ensuring secure transactions and discreet packaging. This appeals to individuals who prefer to maintain their privacy while purchasing insulin products. The integration of telemedicine services with online pharmacies also provides an opportunity for virtual consultations with healthcare professionals, enabling patients to seek advice and guidance regarding insulin therapy.
Global Human Insulin Market By Type, 2023 (%)
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Global Human Insulin Market Regional Insights
North America dominated the global human insulin market, holding a substantial market share. This is attributed to several factors, including advanced healthcare infrastructure, a high prevalence of diabetes, and robust research and development activities. The region's well-established pharmaceutical industry and favorable reimbursement policies further contribute to its dominance in the market. The United States, as the largest market for human insulin in North America, significantly influences the regional market dynamics. With a considerable diabetic population, the country witnesses a strong demand for insulin products. The presence of key market players, such as Eli Lilly and Company and Novo Nordisk, further strengthens the market's position. Additionally, continuous advancements in technology and the introduction of innovative insulin delivery devices contribute to the market's growth in the United States. Canada also plays a significant role in the human insulin market within North America. The country has a well-developed healthcare system, ensuring access to insulin therapies for its diabetic population. Notably, Canadian companies like Sanofi and Biocon dominate the domestic market and contribute to the region's overall market share. The Canadian government's initiatives to improve diabetes management and promote insulin affordability and accessibility drive market growth in the country.
Asia Pacific stands out as the fastest-growing region in the global human insulin market, presenting lucrative opportunities for market players. The region's large population, rising disposable incomes, increasing urbanization, and changing lifestyles contribute to the growing prevalence of diabetes. Furthermore, initiatives by governments and healthcare organizations to improve diabetes management and access to insulin further accelerate market growth in this region. China, with its massive population, exhibits tremendous growth potential in the human insulin market. The country has witnessed a significant increase in the number of individuals diagnosed with diabetes, leading to a substantial demand for insulin products. Domestic companies like Gan & Lee Pharmaceuticals and Tonghua Dongbao Pharmaceuticals have a significant market presence and contribute to the region's market share. The Chinese government's focus on enhancing diabetes care and the affordability of insulin fuels the market's expansion in the country.
Global Human Insulin Market By Geography, 2024-2031
- Largest
- Fastest
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Global Human Insulin Market Dynamics
Drivers
Increasing Prevalence of Diabetes
- The rising prevalence of diabetes worldwide is a significant driver of the global human insulin market. The International Diabetes Federation estimates that around 463 million adults were living with diabetes in 2019, and this number is projected to reach 700 million by 2045. The growing diabetic population necessitates a higher demand for insulin, thereby driving the market. For example, countries like China and India have witnessed a surge in diabetes cases due to changing lifestyles and dietary habits, resulting in increased demand for human insulin.
Restraints
Regulatory Barriers
- Regulatory hurdles and patent exclusivity can restrict market entry and competition, acting as restraints in the human insulin market. Obtaining regulatory approvals for new insulin products or biosimilars involves rigorous testing and compliance with stringent guidelines. Additionally, patent exclusivity for certain insulin formulations limits the availability of generic versions, reducing options for patients and potentially impeding market growth. For instance, the exclusivity of certain long-acting insulin analogs has limited the entry of biosimilar versions into the market.
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Global Human Insulin Market Competitive Landscape
Global Human Insulin Market is highly competitive, with several key players dominating the industry. Companies such as Novo Nordisk, Sanofi, and Eli Lilly and Company hold significant market shares due to their extensive product portfolios, strong brand recognition, and global distribution networks. These companies invest heavily in research and development to develop innovative insulin products, including long-acting analogs, ultra-rapid-acting insulins, and inhalable insulin formulations. Additionally, they focus on strategic collaborations, mergers, and acquisitions to expand their market presence and gain a competitive edge. The market also witnesses the presence of other players such as Biocon, Ypsomed, and Tonghua Dongbao, who contribute to the market with their diverse product offerings and regional market expertise. With the increasing demand for insulin, the competitive landscape is expected to intensify, leading to further advancements and innovations in the market.
Top Player’s Company Profile
- Merck & Co., Inc. (US)
- Pfizer Inc. (US)
- AstraZeneca (UK)
- Johnson & Johnson (US)
- Biocon Ltd. (India)
- Ypsomed AG (Switzerland)
- Wockhardt Ltd. (India)
- Julphar (United Arab Emirates)
- Gan & Lee Pharmaceuticals (China)
- Bioton S.A. (Poland)
- Adocia (France)
- Torrent Pharmaceuticals Ltd. (India)
- Berlin-Chemie AG (Germany)
- SemBioSys Genetics Inc. (Canada)
- Biodel Inc. (US)
- Dongbao Enterprise Group Co., Ltd. (China)
- Tonghua Dongbao Pharmaceutical Co., Ltd. (China)
Recent Developments
- In April 2022, Biocon, a leading company in the global human insulin market, was awarded a significant contract by the Ministry of Health Malaysia. The contract, valued at USD 90 million, granted Biocon a 3-year agreement for the supply of their recombinant human insulin called Insugen. This achievement not only highlights Biocon's expertise in producing high-quality insulin but also strengthens its presence in emerging markets like Malaysia.
- In February 2022, Biocon entered into a strategic collaboration with Viatris Inc. This collaboration aimed to acquire Viatris' biosimilar business, a move that would enhance Biocon's research and development capabilities and expand its manufacturing facility. This partnership bolstered Biocon's ability to commercialize its innovative capabilities and reinforced its position in the human insulin market.
Global Human Insulin Key Market Trends
- Shift Towards Analog Insulin: There is a noticeable trend in the market's transition from traditional human insulin to analog insulin. Analog insulin offers advantages such as rapid onset, shorter duration of action, and improved glycemic control compared to human insulin. Healthcare providers and patients are increasingly adopting analog insulin to achieve better diabetes management outcomes. For example, long-acting analog insulin such as insulin glargine (Lantus) and insulin detemir (Levemir) have gained significant market share due to their improved pharmacokinetics.
Global Human Insulin Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Human Insulin Market analysis, the market is driven by factors such as the increasing prevalence of diabetes worldwide, advancements in insulin production technologies, and growing awareness about diabetes management. The rising demand for analog insulin and insulin delivery devices further fuels market expansion. However, the high cost of insulin and patent exclusivity pose challenges to market growth. Opportunities lie in untapped emerging markets and the development of personalized insulin therapies. Overall, the human insulin market is expected to experience steady growth, driven by the urgent need for effective diabetes management solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 19.05 Billion |
| Market size value in 2031 | USD 22.17 Billion |
| Growth Rate | 1.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Human Insulin Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Human Insulin Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Human Insulin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Human Insulin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Human Insulin Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Human Insulin Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Human Insulin Market Report Snapshots
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