Human Recombinant Insulin Market to Garner US$ 47.8 Billion By 2026 – Coherent Market Insights
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Global Human Recombinant Insulin Market, by Product Type (Rapid-acting Human Insulin, Short-acting Human Insulin, Intermediate-acting Human Insulin, Long-acting Human Insulin, and Premixed Human Insulin), by Brand (Humalog, Novolog, Apidra, Humulin R, Novolin R, Humulin N, Novolin N, Levemir, Lantus, Humalog Mix, Novolog Mix, and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) is estimated to be valued at US$ 27.4 billion in 2018 and is estimated to exhibit a CAGR of 7.2% over the forecast period (2018-2026).
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Major players in the market are focusing on launching novel human insulin and gaining regulatory approval for their insulin product portfolio. For instance, in August 2014, Eli Lilly and Company launched Jardiance (empagliflozin), as a treatment option for Type 2 diabetes patients in the U.S. Jardiance is a sodium glucose co-transporter-2 (SGLT2) inhibitor with Type 2 diabetes patients. Moreover, in March 2016, Biocon Limited entered into a collaboration with LaboratoriosPiSA S.A de CV (PiSA) to develop and sell a generic recombinant human insulin in America. Biocon expects to launch the by 2020 in the U.S. Similarly, in February 2018, Novo Nordisk launched Fiaspa: a fast-acting mealtime insulin in the U.S. and Fiaspa the received U.S. FDA approval and this product is indicated to improve glycemic control in adults with type 1 and type 2 diabetes. Additionally, in December 2017, the U.S. Food and Drug Administration (FDA) approved Sanofi’s Admelog. Admelog is a follow-on mealtime insulin, which aids people living with diabetes manage blood sugar levels at mealtime.
Browse 35 Market Data Tables and 42 Figures spread through 205 Pages and in-depth TOC on “Human Recombinant Insulin Market, by Product Type (Rapid-acting Human Insulin, Short-acting Human Insulin, Intermediate-acting Human Insulin, Long-acting Human Insulin, and Premixed Human Insulin), by Brand (Humalog, Novolog, Apidra, Humulin R, Novolin R, Humulin N, Novolin N, Levemir, Lantus, Humalog Mix, Novolog Mix, and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) – Global Forecast to 2026”
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Moreover, efficient diabetes management and ease of use creates need for advancements in current solutions of both insulin and its delivery systems thereby, offering reduced patient discomfort. For instance, glucose responsive insulin (GRI) or smart insulin is a novel technology for people with diabetes, which functions automatically reacting to blood sugar fluctuations in body and responds to changing blood glucose levels. The lower or higher blood sugar levels are lead to release of more or less insulin, respectively. Furthermore, Smart insulin decreases the number of regular blood tests and also minimizes the number of daily dose of insulin injections. Similarly, researchers from the University of North Carolina have been working on a smart insulin patch. For instance, in 2015, researchers reported that, smart insulin patch use a micro-needle system to automatically detect high blood glucose levels and administer insulin appropriately. Furthermore, key market players are focusing on adopting inorganic growth strategies such as acquisitions to develop and launch smart insulin technology in the market. For instance, in February 2016, Eli Lilly and Company acquired Glycostasis, Inc., a startup company engaged in developing smart insulin. Eli Lilly and Company is focusing on developing Glycostasis’s ‘smart insulin’ technology.
Key takeaways of the Human Recombinant Insulin Market:
- The global human recombinant insulin market is expected to exhibit a CAGR of 7.2% over the forecast period (2018-2026), attributed to increasing number of technological advancements in recombinant human insulin by various key players
- Among product type, long-acting human insulin segment is estimated to grow with a higher pace over the forecast period attributed to their higher efficiency and ability to offer consistent insulin delivery throughout the day, lasting 24 hours
- Among brand, others segment is expected to account for major market share over the forecast period, owing to the involvement of innovative and new human recombinant insulin portfolio with increased patent expiry period such as Toujeo, Tresiba, and Basaglar, among others
- Among distribution channel, retail pharmacies segment is expected to account for largest market share over the forecast period. This is attributed to retail pharmacies that offer direct access to full range of diabetes products, covering all prescription and over-the-counter products for patients with diabetes.
- Key players operating in global human recombinant insulin market include Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Julphar Gulf Pharmaceutical Industries, Biocon Limited, Bioton S.A., Gan & Lee Pharmaceuticals, Ltd., Zhuhai United Laboratories Co., Ltd., Wanbang Biopharmaceuticals Co., Ltd. and Dongbao Enterprise Group Co., Ltd., among others
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