Global Human Recombinant Insulin Market Size By Product (Regular (short-acting) insulin, NPH (intermediate-acting) insulin, Premixed human insulins insulin), By Distribution Channel (Hospitals, Retail pharmacies, Online pharmacies), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Human Recombinant Insulin Market Size And Forecast
Human Recombinant Insulin Market size was valued at USD 41.35 Billion in 2023 and is projected to reach USD 64.79 Billion by 2030, growing at a CAGR of 8.25% from 2024 to 2030.
What's fueling the growth of the global Human Recombinant Insulin Market? Well, a big part of it is simply the increasing number of people with diabetes, coupled with better medical reimbursement options in many places. Plus, all the research and development happening, both by governments and private companies, is really pushing things forward. More investments in diabetes research are definitely creating more demand, too. And the way the market is evolving, with companies offering analog products and custom media formulations through a small-scale development process, is also helping things along. If you want the full picture, the Global Human Recombinant Insulin Market report gives you a holistic evaluation, with a deep dive into key segments, trends, what's driving things, what's holding things back, and the competitive landscape – basically, everything that's having a big impact.
Global Human Recombinant Insulin Market Definition
Recombinant insulin is one of the first products of biotechnology. Recombinant insulin is synthetic insulin obtained by utilizing recombinant DNA technology. They replace the animal insulins and semisynthetic insulin resulting from the modification of animal insulins. These are created to supply the need for a consistent and sufficient worldwide demand. Insulin replacement therapy is the standard of care for patients with type 1 and type 2 diabetes mellitus.
With the advancement in recombinant DNA technology, recombinant human insulin became available in huge amounts. This is provided by biosynthesis in microorganisms. Offering a reliable supply of hormones across different regions at a reasonable cost. These have a superior level of purity and consistent quality as compare with synthetic insulin. Patients with diabetes can be safely and effectively transferred from animal and semisynthetic human insulin to recombinant human insulin with no change expected in insulin dose.
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Global Human Recombinant Insulin Market Overview
The Human Recombinant Insulin Market is expected to grow owing to the increase in the number of diabetic patients. The favorable medical reimbursement in emerging nations helping to reduce the risk factors leading to diabetes is another key factor responsible for market growth. This has intensified the market availability of generic human insulin products and the arrangement for human insulin analogs has projected the demand for the market across the globe. The growing geriatric population expected patent expiry of mainly human analog drugs is expected to promote the growth of the market.
Further, the growing scope of R&D for drug discovery and up-gradation of technological advancement in human insulin delivery devices has facilitated the demand for the market across regions. Moreover, the increasing government schemes to support the expansion and commercialization of efficient biosimilar are further expanding the market. Many governments and private research organizations have started involving in different R&D activities.
These have evolved innovative treatments in diabetes care to grow the efficacy of human insulin, reduce the harm of diabetes and other related disorders and decrease its affliction. This has promoted the demand for the Human Recombinant Insulin Market in different regions across the globe. However, the unaffordability of the population owing to the high cost of insulin can restrain the growth of the global Human Recombinant Insulin Market.
Global Human Recombinant Insulin MarketSegmentation Analysis
The Global Human Recombinant Insulin Market is segmented based on Product, Distribution Channel, And Geography.
Human Recombinant Insulin Market, By Product
Regular (short-acting) insulin
NPH (intermediate-acting) insulin
Premixed human insulins insulin
Based on Product, the market is bifurcated into Regular (short-acting) insulin, NPH (intermediate-acting) insulin, and Premixed human insulins insulin. The regular (short-acting) insulin is anticipated to witness the highest growth of the market. These insulins are mainly consumed before meals and acre gaining popularity around the globe.
Human Recombinant Insulin Market, By Distribution Channel
Hospitals
Retail pharmacies
Online pharmacies
Others
Based on Distribution Channel, the market is segmented into Hospitals, Retail pharmacies, Online pharmacies, and Others. Retail pharmacies are expected to hold the highest share of the market owing to their growing adoption rate of human insulin delivery systems. Further, the growing technology advancement of insulin injectables has resulted in augmenting the growth of the retail pharmacies segment. Moreover, the growing number of retail pharmacies across developing and developed countries have anticipated the growth of the market.
Human Recombinant Insulin Market, By Geography
North America
Europe
Asia Pacific
Rest of the world
On the basis of Geography, the Global Human Recombinant Insulin Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is one of the largest growing regions owing to the increasing technological developments in insulin delivery products.
Key Players
The “Global Human Recombinant Insulin Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Biocon, Eli Lilly and Company, Zhuhai United Laboratories Co Ltd., Dongbao Enterprise Group Co Ltd., Sanofi S.A., Novo Nordisk A/S, Gan & Lee Pharmaceuticals, Ltd., Bioton S.A., Julphar Gulf Pharmaceutical Industries, and Wanbang Biopharmaceuticals Co Ltd. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally
Key Developments
Partnerships, Collaborations, and Agreements
In March 2021, Biocon Ltd, a global biopharmaceutical company focused on innovation, today announced a collaboration between Biocon Pharma Limited, a wholly-owned subsidiary of Biocon Limited, and Libbs Farmaceutica, a leading pharmaceuticals company in Brazil, to launch generic drugs in the world’s sixth most populous country. This collaboration, which marks the introduction of Biocon’s generic formulations into Latin America, builds on the company’s previous collaboration with Libbs, which began in 2017 with the launch of the biosimilar Trastuzumab in Brazil. It demonstrates Biocon’s dedication to making affordable healthcare available to people all around the world by building a strong worldwide presence for its formulations portfolio, either directly or through strategic partnerships.
Mergers and Acquisitions
In November 2020, Biotechnology behemoth Biocon announced that it has decided to acquire a 26% share in Hinduja Renewables Two Pvt Ltd on a fully diluted basis for Rs 5.91 crore. The goal of the stake purchase is to increase the use of renewable energy.
In September 2019, Biocon Ltd, Asia’s leading biopharmaceutical business, announced that its subsidiary, Biocon Biologics, has purchased R&D capital assets for a 60,000 square foot state-of-the-art ‘bench to pilot scale’ Biologics research facility at TICEL Bio Park in Chennai, India. Pfizer Healthcare India Ltd has sold these assets to Biocon Biologics.
Product Launches and Product Expansions
In August 2020, the Bengaluru-based firm, Biocon’s subsidiary Biocon Biologics and partner Mylan have released insulin glargine injectable under the brand name Semglee in the US market. Biocon Biologics India and Mylan have released the medication in the United States in the vial and pre-filled pen formats, according to Biocon. It is approved to help regulate high blood sugar levels in adults and children with type 1 diabetes, as well as individuals with type 2 diabetes. Mylan, which is in charge of commercialization in the United States, would sell Semglee for $147.98 for every package of five 3ml pens and $98.65 per 10ml vial, making it the cheapest brand of insulin glargine available in the country.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Biocon, Eli Lilly and Company, Zhuhai United Laboratories Co Ltd., Dongbao Enterprise Group Co Ltd., Sanofi S.A., Novo Nordisk A/S, Gan & Lee Pharmaceuticals, Ltd., Bioton S.A., Julphar Gulf Pharmaceutical Industries.
SEGMENTS COVERED
By Product
By Distribution Channel
By Geography
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
Research Methodology of Market Research
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