Global Market Study on Human Insulin: Asia Pacific to Witness fastest Growth by 2020
LONDON, Nov. 30, 2016 /PRNewswire/ -- Diabetes refers to a group of metabolic disease characterized by high blood sugar level. It occurs due to inadequate secretion of insulin inside the pancreas. Some of the common symptoms for diabetes are frequent urination, excessive thirst, increased hunger, weight loss and tiredness. Type 1, type 2 and gestational diabetes are three common types of diabetes. Type 1 diabetes is an autoimmune disease occurred due to high blood glucose level whereas, type 2 diabetes is a lifelong chronic disease caused due to excess secretion of insulin inside the body. Type 2 diabetes is the common form of diabetes. Diabetes is more common in aged people; however, its prevalence is steadily increasing in adults and children. Severe problems such as blindness, kidney failure, coronary heart disease and strokes may result due to lack of proper treatment of diabetes. It also causes blindness, amputation, and kidney failure. Diabetes can be treated by maintaining appropriate levels of insulin in the body. Insulin helps control blood glucose levels and subsequently drives energy for the proper execution of all cellular and biological activities.
North America dominates the global market for human insulin due to large number of aging the population, increasing prevalence of diabetes and diabetes-related disorders. In addition, availability of technological advanced human insulin infusion devices is also boosting the growth of the market. Asia Pacific is expected to show fast growth rates in the next five years in the global human insulin market. China and India are expected to be the fastest-growing human insulin markets in the Asia Pacific region. In addition, the human insulin market in Japan is also growing due to rising number of R&D investment and availability of large number of drug manufacturing companies. Some of the key driving forces for human insulin market in emerging countries are rise in disposable income, large pool of patients and increasing awareness about diabetes and diabetes-related disorders.
In recent times, there is increased the use of human insulin due to rise in aging population. Increasing prevalence of diabetes and rising number of lifestyle related disorders such as obesity are also fuelling the growth of the global human insulin market. On the other hand, strict regulatory requirements for drug approval and uneven pricing and limited access to human insulin in emerging countries are restraining the growth of the human insulin market. In addition, increasing usage of insulin pen for infusion of human insulin is a recent market trend in the global human insulin market. Strong pipeline and development of molecules from newer class of diabetes drugs would be an opportunity for the growth of the global human insulin market. Maintaining safety and security of patients while using infusion devices could be a challenge for the growth of the global human insulin market.
This report provides in-depth analysis and estimation of the human insulin market for the period 2014 to 2020, considering 2013 as the base year for calculation. In addition, data pertaining to current market dynamics, including market drivers, restraints, trends, and recent developments, has been provided in the report. The human insulin market is categorized on the basis of the type of insulin, diseases and geography. Based on the type of human insulin, the market comprises traditional and modern human insulin. Traditional human insulin is further categorized into short acting, intermediate acting and premixed human insulin. Modern human insulin is further categorized into rapid acting, long acting and premixed insulin. On the basis of diseases, the market comprises type 1 and type 2 diabetes. On the basis of geography, the report identifies and analyzes the market size and predictions for North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Some of the major players in the human insulin market are Novo Nordisk A/S, Eli Lilly and Company, Sanofi, Biocon, Tonghua Dongbao Pharmaceutical Co., Ltd., Adocia, Merck & Co., Inc., Pfizer, Inc., Wockhardt, Julphar, Bristol-Myers Squibb Company, GlaxoSmithKline Plc and Oramed Pharmaceuticals, Inc. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.
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