Persistence Market Research (PMR) forecasts that the global human insulin market will report substantial growth owing to the rising prevalence of obesity and diabetes. As per the PMR study, the global human insulin market was valued at US$24,332.6 million in 2014, which is expected to reach US$49,197.3 million by the end of 2020. During the forecast period, the global human insulin market is expected to exhibit progressive 12.4% CAGR.
Diabetes – A Rising Concern across the Globe
The need for human insulin arises due to the condition of diabetes, which is a metabolic disease caused by high blood sugar level. This condition occurs due to inadequate secretion of insulin inside the pancreas. The most common diabetes symptoms include:
Diabetes is divided into three segments according to the symptoms, severity and condition of the patient which are: Type 1, type 2, and gestational diabetes. Type 1 diabetes is basically an autoimmune disease that occurs to one due to high blood glucose level. Type 2 diabetes is a life-long chronic disease which is caused because of excessive secretion of insulin within the body. The type 2 diabetes is the most common type of diabetes reported across the globe.
Diabetes is very common in the aged population; nevertheless, its prevalence is rapidly increasing in children as well as adults. If a diabetic patient is not provided with appropriate treatment then it may result in severe conditions such as kidney failure, blindness, coronary heart strokes and diseases. In its advance stage, diabetes could also result in amputation and kidney failure.
The Arising Need for Human Insulin
The condition of diabetes can be treated if the insulin levels in the body are maintained. Appropriate level of insulin in the body helps in controlling the blood sugar levels and boost energy level for desired execution of all biological and cellular human activities.
Talking about the global human insulin market, the large pool of diabetes patients and rising awareness about diabetes and related disorders along with the increasing disposable income among consumers is driving the demand for human insulin in the globe market.
On the flip side, rigid regulatory requirements for drug approval, varied pricing, and limited access to human insulin in emerging economies are hampering the growth of the human insulin market globally. Moreover, increased use of innovative and efficient insulin pen for infusion of human insulin is the current market trend in the global human insulin market.
Modern Human Insulin Technologies Provides Opportunities
Modern human insulin delivers more effective results in comparison with the conventional type human insulin. The frequency and dosage of modern human insulin varies from person to person. The modern human insulin was worth US$19,526.8 million in 2014 and is anticipated to touch US$40,987.1 million by the end of 2020, exhibiting progressive 13.2% CAGR through the forecast period.
Creating strong pipeline and development of molecules from a new class of diabetes drugs is the biggest opportunity for the growth of the global human insulin market players in the near future. Maintaining safety and security of diabetes patients while using infusion devices is a challenge for the growth of the global human insulin market.