The Global Human Insulin Market Is Poised to reach ~USD 39.13 Billion by 2020, growing at a CAGR of 8.1% from 2015 to 2020 and studies the global human insulin market over the forecast period of 2015 to 2020.
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On the basis of products, the global human insulin market is classified into two segments, namely, drugs and delivery devices. Human insulin drugs market has been further divided on the basis of drug type (rapid-acting, intermediate-acting, long-acting, short-acting, and premixed) and drug brands (Lantus, NovoRapid/Novolog, Humalog, Humulin, Insuman, Actrapid, Insulatard, Mixtard, and Other Biosimilar Brands). Furthermore, human insulin delivery devices market is segmented into insulin pens (reusable & disposable), pen needles (standard & safety), and conventional syringes. Additionally, global human insulin market is classified on the basis of applications into type I diabetes applications and type II diabetes applications.
Factors such as growing diabetes patient population, increasing population exposure to key risk factors leading to diabetes, rising market demand for human insulin analogs, technological advancements in the field of human insulin delivery devices, and favorable medical reimbursements are driving the growth of human insulin market during the forecast period. However, stringent regulatory requirements for product approval are restraining the growth of this market.
In 2015, North America is expected to hold the largest share of the human insulin market, followed by Europe. Additionally, Asia-Pacific is expected to grow at the highest CAGR during the forecast period (2015 to 2020). Strong market growth witnessed in the North American human insulin market can be attributed to factors such as significant patent protection for several human insulin biosimilar brands in the U.S., continuous updation of medical reimbursement guidelines in the U.S. for diabetes treatment, and extensive & well-established distribution network of market players for human insulin products.
Sanofi (France), Novo Nordisk A/S (Denmark), Eli Lilly and Company (U.S.), Biocon Ltd. (India), Julphar (U.A.E.), Ypsomed AG (Switzerland), Becton, Dickinson and Company (U.S.), Wockhardt Ltd. (India), B. Braun Meselgen AG (Switzerland), and Biodel Inc. (U.S.) are some of the key players operating in the global human insulin market.
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