June 24, 2024
Human Insulin Drug Market

Human Insulin Drug Market Is Expected To Be Flourished By Growing Cases Of Diabetes

The global human insulin drug market is primarily driven by the growing prevalence of diabetes. Human insulin is a hormone that regulates the metabolism of carbohydrates, proteins, and fats. It is produced artificially through recombinant DNA technology to treat diabetes. Insulin helps in controlling the blood glucose levels in the body. According to the International Diabetes Federation, over 537 million adults (aged 20 to 79) are currently living with diabetes across the globe. A large number of patients require daily insulin injections or insulin pumps to manage their blood glucose levels. Therefore, the rising cases of diabetes is expected to boost the demand for human insulin drugs for effective treatment over the forecast period.

The global human insulin drug market is estimated to be valued at US$ 49411.32 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Growing prevalence of obesity and sedentary lifestyle: Obesity and lack of physical activity are some of the major risk factors for diabetes. The increasing consumption of junk food combined with a sedentary lifestyle has led to a rise in obesity rates globally. According to the World Health Organization, over 1.9 billion adults were overweight in 2016, out of which 650 million of them were obese. Obese people are at a higher risk of developing type 2 diabetes as excess body weight requires more insulin to control the blood glucose levels. High obesity rates will drive the demand for human insulin drugs over the next few years

Rising geriatric population:

The risk of developing diabetes also increases with age. The geriatric population (aged 65 years or above) is more prone to insulin resistance as their ability to secrete insulin reduces with age. According to the United Nations, it is estimated that people aged 65 years and above will account for around 16% of the global population by 2050, up from 8-9% currently. Growing geriatric population will increase the requirement for insulin drugs used majorly in type 2 diabetes. This is expected to boost the human insulin drug market growth during the forecast period.

Segment Analysis

The global human insulin drug market is dominated by the modern/bioengineered insulin sub-segment. Modern/bioengineered insulin holds around 75% of the market share owing to its advantages like rapid onset and shorter durations of action as compared to traditional human insulin. Modern insulin is ideal for basal-bolus regimens with multiple injections per day and continuous subcutaneous insulin infusion via insulin pumps. Traditional human insulin holds around 25% of the market share and is used majorly in developing countries due to cost-effectiveness. It works slower and has longer durations of action as compared to modern insulin.

PEST Analysis

Political: The rising government investments and intervention for diabetes treatment through national programs in various countries are boosting the human insulin drug market. However, stringent regulations for drug approval can hamper market growth.
Economic: Rising prevalence of diabetes, growing healthcare expenditures, and rising disposable incomes are fueling the demand for advanced yet expensive human insulin drugs. High costs of patented modern insulin negatively impact market access in low-income regions.
Social: Increasing public awareness about diabetes self-management and lifestyle changes is generating more demand for glucose-lowering drugs like human insulin. However, social stigma around insulin injections can affect market growth.
Technological: Advancements in human insulin production technology and emergence of wearable insulin pumps are improving efficacy, convenience, and compliance. Continuous innovations in novel drug delivery systems are expanding market opportunities.

Key Takeaways

The global Human Insulin Drug Market Growth is expected to witness high growth at a CAGR of 6.1% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 74233.86 Mn by 2030.

Regional analysis: North America dominates the global market owing to the high diabetes prevalence, strong healthcare sector, and aggressive adoption of modern insulin drugs. Asia Pacific offers immense growth opportunities and is expected to be the fastest growing regional market.

Key players: Key players operating in the human insulin drug market are Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc. Ecolab Inc. is a leading player due to its wide geographic presence and extensive product portfolio.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it