NEW YORK, April 12, 2016 /PRNewswire/ -- The global human insulin market is poised to reach ~USD 39.13 billion by 2020 growing at a CAGR of 8.1% from 2015 to 2020. North America is expected to hold the largest share of the global human insulin market in 2015. Market growth of human insulin products is being propelled by growing diabetes patient population, increasing population exposure to key risk factors leading to diabetes, rising market demand for human insulin analogs, technological advancements in the field of human insulin delivery devices, and favorable medical reimbursements. However, stringent regulatory requirements for product approval are restraining the growth of human insulin market. In addition, high product manufacturing costs is posing significant challenges for market growth during the forecast period.
In this report, the global human insulin market is segmented on the basis of basis of products (human insulin biologics, insulin analogs & biosimilars, and delivery devices), drug type (rapid-acting, intermediate-acting, long-acting, short-acting, and premixed), drug brand (Lantus, NovoRapid/Novolog, Humalog, Humulin, Insuman, Actrapid, Insulatard, Mixtard, and Other Biosimilar Brands), delivery devices [insulin pens (reusable & disposable), pen needles (standard & safety), and conventional syringes], and applications (type I diabetes & type II diabetes).
Human insulin drugs segment is expected to account for the larger share of the global human insulin market in 2015, followed by insulin delivery devices. Significant demand growth for human insulin drugs during the next five years is owing to factors such as increasing market accessibility of generic human insulin products worldwide, rising government initiatives to support the development and commercialization of effective biosimilars, growing R&D for drug discovery & development, and rising proportion of aging population in developed countries.
Geographically, North America (comprising the U.S. and Canada) is expected to command the largest share of the global human insulin market in 2015, followed by Europe. Asia-Pacific is also poised to grow at the highest CAGR during the forecast period, owing to factors such as growing diabetes prevalence in APAC (coupled with large diabetic & pre-diabetic patient population), strengthening distribution networks of global product manufacturers in the region, evolving regulatory framework for marketing approvals & medical reimbursements, and rising public awareness related to benefits offered by human insulin in diabetes treatment (as compared to anti-diabetic drugs & animal derived insulin).
The global human insulin market is highly competitive, with various global as well as local players. In 2014, the global human insulin devices market was dominated by Sanofi (France), Novo Nordisk A/S (Denmark), and Eli Lilly and Company (U.S.), which together accounted for ~89.0% of the human insulin market. Geographic expansion, new product launches, agreements, collaborations, partnerships, awareness campaigns, and offering research fund & grants are the major strategies adopted by most market players to achieve growth in the global human insulin market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis such as market share analysis of the top ten players and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the human insulin market, and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn help firms to garner higher market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
-Market Penetration: Comprehensive information on the human insulin products offered by the top 10 players in the global market. The report analyzes the human insulin market by product, drug type, drug brand, delivery devices, and applications across key geographic regions
-Product Development/Innovation: Detailed insights on upcoming human insulin products, product pipeline, research and development activities, and new product launches in the market
-Market Development: Comprehensive information on lucrative emerging markets. The report analyzes the markets for various human insulin products across key geographic regions
-Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global human insulin market
-Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the global human insulin market
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