by The human recombinant insulin helps in regulating blood glucose levels in patients with diabetes. These insulins are biosynthetic human insulins which are typically produced through recombinant DNA technology by inserting human insulin gene into hosts like E. coli or yeast for high-scale production. Common types of recombinant insulins available are short-acting insulins like insulin lispro, insulin aspart, and insulin glulisine along with long-acting insulins such as insulin detemir, insulin glargine and insulin degludec. The surging prevalence of diabetes globally has prompted a steady demand for affordable and effective treatment options like human recombinant insulins. As per recent estimates, over 463 million adults aged between 20 to 79 years were suffering from diabetes in 2019 and the figure is predicted to rise to 700 million by 2045.
The global human recombinant insulin market is estimated to be valued at US$ 41602.7 million in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The human recombinant insulin market growth is driven by increasing diabetic population worldwide as well as growing demand for biosimilar insulin products owing to their lower costs. As per the heading, the surging prevalence of diabetes globally has prompted a steady demand for affordable and effective treatment options like human recombinant insulins which is expected to flourish this market. Additionally, the development of more advanced insulin products with enhanced pharmacokinetic and pharmacodynamic properties for improved management of blood glucose levels is another key factor fueling the market expansion. Moreover, favorable regulatory guidelines and rising awareness among patients and healthcare professionals regarding effective diabetes treatment modalities are further supplementing the market growth.
Segment Analysis
The global human recombinant insulin market can be segmented based on product type, end user, and region. Based on product type, the market is segmented into short acting, intermediate acting, long acting, and premixed. The premixed segment dominates the market and is expected to continue its dominance over the forecast period. This is because premixed insulin offers convenience to patients as it combines two or more types of insulin, thereby reducing the number of injections required.
PEST Analysis
Political: Governments across countries are actively working to make healthcare affordable and accessible to all. This includes various subsidies and schemes related to insulin prices to help control diabetes.
Economic: Rising disposable incomes and growing healthcare expenditure is boosting the overall diabetes treatment market and thereby increasing demand for human recombinant insulin. However, high costs of insulin pose an affordability challenge in some regions.
Social: Growing prevalence of obesity and sedentary lifestyles has led to a rapid rise in diabetes cases globally. This is further increasing the patient base needing insulin therapy on a long-term basis.
Technological: Advancements in recombinant DNA technology have enabled large-scale production of human insulin identical to natural insulin. This has revolutionized diabetes treatment. Continuous technological developments are also helping improve insulin delivery devices.
Key Takeaways
The Global Human Recombinant Insulin Market Growth is expected to witness high growth over the forecast period. The global human recombinant insulin market is estimated to be valued at US$ 41602.7 million in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
Asia Pacific region dominates the market currently and is expected to maintain its dominance during the forecast period. Factors such as large diabetic population, rising awareness, increasing healthcare expenditure, and presence of key players are driving the APAC market.
Key players operating in the human recombinant insulin market are Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Julphar Gulf Pharmaceutical Industries, Biocon Limited, Bioton S.A., Gan & Lee Pharmaceuticals, Ltd., Zhuhai United Laboratories Co., Ltd., Wanbang Biopharmaceuticals Co., Ltd., and Dongbao Enterprise Group Co., Ltd. Novo Nordisk and Eli Lilly dominate the global market with their diverse product portfolio and strong geographical presence across regions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
