Global Insulin Market Anticipated to Reach $59.3Bn by 2025 - Analysis on Intermediate, Short, Rapid, and Long Acting Insulin - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 2, 2020--
The “Insulin Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2018-2025” report has been added to ResearchAndMarkets.com’s offering.
The global demand for insulin market was valued at approximately USD 30.3 billion in 2018 and is expected to generate revenue of around USD 59.3 billion by end of 2025, growing at a CAGR of around 9.5% between 2019 and 2025.
Global demand for insulin market is anticipated to be driven by increase in awareness about the benefits of insulin for diabetes patients in developing and underdeveloped countries. The growing incidences of diabetes in population, rapid development in insulin delivery systems, drug and analog development by major companies, and rise in geriatric as well as obese population are some of the factors which are fueling the growth of the insulin market.
Based on product type market is segmented into intermediate acting insulin, short acting insulin, rapid acting insulin, and long acting insulin. Short acting drugs generally include Novolin R and Humulin R. Insulin Lispro, Insulin Aspart, and Insulin Glulisine are some of the examples of rapid acting insulin. Long acting insulin includes insulin detemir, insulin degludec, and insulin glargine. NPH (Humulin N, Humulin N) are included in intermediate acting insulin.
On the basis of source, the market is segmented into human recombinant insulin and insulin analogs. Human recombinant insulin is anticipated to show higher growth in the forecast period owing to its benefits and rapid actions as compared to insulin analogs. Also the growing awareness about the human recombinant insulin in developing countries is driving the growth of the segment.
Based on administration, market is segmented into pumps and injections. Insulin is a drug which cannot be taken through oral route as the enzymes present in stomach will break down the insulin which prevents the action of insulin. Therefore pumps and injections are preferred to administer insulin in patient.
On the basis of application, insulin market is fragmented into insulin for type II diabetes and insulin for type I diabetes. Insulin for type I diabetes dominated the application segment of insulin market owing to the high prevalence rate of type I diabetes. Also, a type I diabetes patient has to take insulin therapy for his whole lifetime; this also fuels the growth of the segment.
North America dominated global insulin market and accounted for the highest market share in 2018. North America region is projected to lead the market over the forecast period owing to the presence of major consumer base in the U.S., growing cases of diabetes, rapid development in the ways to administer insulin, and presence of major players. Asia Pacific is expected to show a higher growth rate as compared to other regions. The rapid prevalence of diabetes in the population, presence of large geriatric population, growing awareness about the benefits of insulin, and technological advancement are some of the factors which are driving the market for insulin in Asia Pacific.
Some of the key players in insulin market include Sanofi, Takeda Pharmaceuticals, Novo Nordisk, Bristol-Myers Squibb, Novartis, Eli Lilly, Oramed Pharmaceuticals, Dongbao Enterprise Group Co., Ltd., and Biocon.
Product Type Segment Analysis
Source Segment Analysis
Administration Segment Analysis
Application Segment Analysis
Regional Segment Analysis
For more information about this report, visit https://www.researchandmarkets.com/r/mrzmtc
View source version on businesswire.com:https://www.businesswire.com/news/home/20200102005369/en/
Laura Wood, Senior Press Manager
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 01/02/2020 10:33 AM/DISC: 01/02/2020 10:33 AM