Global Human Insulin Market 2023: With more people getting diagnosed with Diabetes, the market to be on the expansion spree

Human Insulin Market is a hormone that is produced naturally by the pancreas and is essential for regulating blood sugar levels. It is used to treat people with diabetes, a condition in which the body does not produce enough insulin or is unable to properly use the insulin it does produce.

The global human insulin market is slated to reach US$ 44 Bn in the year 2022 and reach US$ 70.68 Bn at a CAGR of 8% between 2022 and 2028.

Human Insulin Market (2022) US$ 44.61 Bn
Projected Market Value (2028) US$ 70.67 Bn
Global Market Growth Rate (2022-2028) 8% CAGR
Share in Biologic Therapeutic Drug Market 14.7%

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There are two main types of human insulin: rapid-acting and long-acting. Rapid-acting insulin is usually taken before meals to help control blood sugar levels after eating. Long-acting insulin is usually taken once or twice a day to provide a steady supply of insulin throughout the day.

The human insulin market is driven by several key factors:

  • Rising prevalence of diabetes: The global prevalence of diabetes is increasing, which is driving demand for insulin and other diabetes treatments.
  • Increasing adoption of insulin pumps: Insulin pumps, which deliver a continuous supply of insulin through a small device worn on the body, are becoming more popular, which is boosting demand for insulin.
  • Advances in insulin production: Improvements in insulin production techniques, such as the use of genetically modified organisms, have led to the development of more effective and efficient insulin products.
  • Government initiatives: Governments around the world are taking steps to increase access to insulin and other diabetes treatments, which is contributing to the growth of the human insulin market

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The human insulin market is expected to continue growing in the coming years, driven by the increasing prevalence of diabetes and the adoption of advanced insulin delivery systems. In addition, the COVID-19 pandemic has highlighted the importance of maintaining good blood sugar control, which may further drive demand for insulin and other diabetes treatments.

Competitive Landscape

The key players in human insulin market are on an innovation spree. In other words, modern human insulin is being doled out at a rapid pace. This is evident from the fact that it holds 83.5% of the overall market share. The status quo is expected to remain unchanged even in the forecast period.

Eli Lily and Company, in April 2019, did table Humalog’s generic version called Insulin Lispro in the market of the US. It costs half of the existing price of Humalog.

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Key Segments Covered in Human Insulin Market

Human Insulin Market by Type

  • Modern Human Insulin
    • Fast-acting
    • Long-acting
    • Premix
  • Traditional Human Insulin
    • Long-acting
    • Short-acting
    • Fast-acting
    • Premix

Human Insulin Market by Distribution Channel

  • Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies

Human Insulin Market by Type of Diabetes

  • Diabetes Type 1
  • Diabetes Type 2

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