Markets and Markets : Human Insulin Market worth $42 Billion by 2019
(M2 PressWIRE Via Acquire Media NewsEdge) The "Human Insulin Market by Product Type [Human Insulin (Short Acting, Intermediate Acting, Premixed), Modern Human Insulin (Rapid Acting, Long Acting, Premixed)], by Brand (Lantus, Apidra, Levemir, NovoRapid, Novomix, Tresiba, Others) - Forecast to 2019"provides a detailed overview of the major drivers,restraints, challenges, opportunities, current market trends,and strategies impacting the global human insulin market along with the estimates and forecasts of the revenue and share analysis.
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The global human insulin market is estimated to reach $42 billion by 2019, at a CAGR of 12.5% from 2014-2019.The market will be driven by rising prevalence of diabetes worldwide, spiralling aging population that increases the incidences of diabetes, growing obese population due to the change in lifestyle, favorable government initiatives, and introduction of pen device that delivers human insulin efficiently and effectively. However, the regulatory environment for approving biotechnology derived drugs is more complex and stringent in U.S. and Europe that will hinder the market growth. High manufacturing complexities and cost associated with the down streaming process will restrict new players to enter in the market.
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The human insulin market is segmented based on types of insulin, and branded drugs available in the market. The two major classifications of human insulin are traditional and modern human insulin. Further traditional human insulin is divided into three types- short acting, intermediate acting, and premixed traditional insulin. Modern human insulin is fragmented into long acting, rapid acting, and premixed modern insulin. Of all, premixed and long acting modern human insulin will be the two fastest growing markets in the given forecast period.
Geographic analysis reveals that North America is the largest contributor to the global human insulin market in 2014 and will witness moderate growth between 2014-2019. Factors driving the North American market are the growing healthcare cost that enforce more consumption of modern human insulin due to its significant cost effectiveness, spiraling aging population, expanded diabetic population, and biologics such as Lantus, Novorapid, and Novomixgoing off-patent that opens the door for biosimilar, biogenerics, and biobetters of these branded products.
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Asia-Pacific will be the fastest growing market for human insulin production, development, and distribution. Further, Asia-Pacific countries are considered to be the lucrative ones for investors to invest in for manufacturing and clinical activities of pipeline and existing human insulin product. Major players enter the Asian market with the purpose to collaborate with various CMO and CRO existing in this region that fosters the development of human insulin at lower cost compared to the other region across the globe. The demand for human insulin will be on the rise in coming five years due to the high prevalence rate of diabetes as well as low price of human insulin.
The key players in the market are Novo Nordisk (Denmark), Eli Lilly (U.S), Sanofi Aventis(France),Biocon (India), Julphar(U.A.E),Wockhardt (India),SemBioSys (Canada), and GSK (U.K.).
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