Human insulin market will reach $49,197.3 million in 2020 globally: Persistence Market Research

Asia Pacific to show fast growth rates in the next five years

According to a new market report published by Persistence Market Research ‘Global Market Study on Human Insulin: Asia Pacific to Witness fastest Growth by 2020,’ the global human insulin market was valued at $24,332.6 million in 2014 and was expected to grow at a CAGR of 12.4 per cent from 2014 to 2020, to reach an estimated value of $49,197.3 million in 2020.

The 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 categorised 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 categorised into short acting, intermediate acting and premixed human insulin. Modern human insulin is further categorised into rapid acting, long acting and premixed insulin. On the basis of diseases, the market comprises type I and type II diabetes. On the basis of geography, the report identifies and analyses the market size and predictions for North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Globally, the human insulin market is witnessing a significant growth due to increasing prevalence of diabetes and increasing awareness among people about diabetes care. In addition, technological advancements in insulin delivery devices and increasing prevalence of lifestyle related disorders such as obesity are also driving the growth of the market. However, uneven pricing and limited access to human insulin in emerging countries such as Brazil, India, and China are inhibiting the growth of the human insulin market. In addition, strict regulatory requirements for drug approval are also restraining the growth of the market.

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.

EP News Bureau – Mumbai