July 17, 2024
Human Recombinant Insulin Market Growth

Human Recombinant Insulin Market Is Projected To Propelled By Biologic Insulin Demand

Human recombinant insulin is a man-made version of insulin used to treat diabetes. It is produced through genetic engineering techniques by transferring the human insulin gene into microorganisms such as bacteria or yeast. These recombinant human insulins have been shown to have the same clinical effects as insulin extracted from animal pancreases.

The global human recombinant insulin market is estimated to be valued at US$ 41602.7 Mn 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 key trends:
The adoption of biologic insulin such as recombinant insulin has been increasing significantly over the past few years. Biologic insulin has emerged as a more effective therapy option vis-à-vis traditionally used animal-derived insulins, due to its human origin and purity. Biologic insulin offers enhanced treatment outcomes and reduced immunogenic reactions. Moreover, it provides greater flexibility and stability in blood sugar control. Rising diabetes prevalence worldwide coupled with benefits of biologic insulin over conventional analogs are propelling the demand for human recombinant insulin. This growing demand is expected to drive the market substantially over the forecast period.

SWOT Analysis

Strength: Recombinant human insulin overcomes the limitations of animal-derived insulin and is safer to use. It has a low risk of allergic reactions.

Weakness: Production of recombinant human insulin requires advanced technology and infrastructure which makes it capital intensive for manufacturers.

Opportunity: Rising prevalence of diabetes globally is driving the demand for insulin therapeutics. Emerging economies offer lucrative opportunities due to growing health awareness.

Threats: Price controls and government regulations can negatively impact revenue streams. Substitute products like biosimilar insulin pose competitive threats.

Key Takeaways

The Global Human Recombinant Insulin Market Growth is expected to witness high growth over the forecast period. The market size is projected to increase from US$ 41602.7 Mn in 2023 to US$ 88123.2 Mn by 2030, registering a CAGR of 11%.

Regional analysis: North America dominates the market currently due to high diabetes prevalence and advanced healthcare facilities. However, Asia Pacific is estimated to grow at the fastest pace due to improving access to healthcare in India and China.

Key players: Key players operating in the human recombinant insulin market are Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Biocon Limited, Gan & Lee Pharmaceuticals, Ltd., Zhuhai United Laboratories Co., Ltd., Wanbang Biopharmaceuticals Co., Ltd., and Dongbao Enterprise Group Co., Ltd. These companies are focusing on expanding their production capacity and geographic presence through collaborations and acquisitions.

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