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| Global Human Recombinant Insulin Market Growth |
Human recombinant insulin is a protein-based man-made form of insulin used for
the treatment of diabetes. Recombinant insulin is produced through
biotechnological processes by inserting human insulin gene into some living
organisms like bacteria, yeast to produce high quality insulin in large scale
for diabetes treatment. Recombinant insulin products are available in various
dosage forms like vials & bottles, premix insulin, and insulin
pump/cartridges to improve patient compliance.
The global
Human Recombinant Insulin Market is estimated to be valued at US$ 41602.7 Mn in 2023 and is expected
to exhibit a CAGR of 11% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
The increasing demand for premix insulin and insulin cartridges is driving the
growth of the human recombinant insulin market. Premix insulin, also known as
biphasic insulin, combines a quick-acting and intermediate-acting insulin in
one injection to mimic the body's natural insulin secretion pattern. Similarly,
insulin cartridges deliver exact insulin doses through pumps and provide
convenience to users. Their growing popularity among diabetic patients trying
to maintain tight control over blood glucose levels is contributing to market
growth. Moreover, technological advancements enabling development of novel
insulin analogs with faster acting or longer duration of action are expected to
bring more product offerings and spur the recombinant insulin market growth
over the forecast period.
Segment
Analysis
The global human recombinant insulin market is segmented based on product type,
application, end user and region. Based on product type, the market is
segmented into long acting insulin, rapid acting insulin, premixed insulin and
short acting insulin. Among these, long acting insulin segment dominates the market
owing to its longer shelf life and effectiveness in maintaining blood glucose
levels. Based on application, the market is categorized into type 1 diabetes
and type 2 diabetes. The type 1 diabetes segment dominates the market as
recombinant insulins are the preferred treatment for type 1 diabetes patients
due to their effectiveness in maintaining blood glucose levels.
Key Takeaways
The Global
Human Recombinant Insulin Market Growth is expected to witness high
growth during the forecast period.
North
America region currently dominates the global market owing to high prevalence
of diabetes and favorable reimbursement policies for recombinant insulin in
countries like US and Canada. The US holds largest market share in North
America region. Asia Pacific region is expected to grow at fastest pace during
forecast period owing to rising incidence of diabetes due to changes in
lifestyle and increasing awareness about treatment. China and India are
emerging markets in Asia Pacific region.
Key players operating in the human recombinant insulin market are Novo Nordisk
A/S, Eli Lilly and Company, Sanofi S.A. Novo Nordisk A/S dominates the global
market owing to its diversified product portfolio and strong brands like
NovoRapid and Levemir. Eli Lilly and Company holds second largest market share
globally. Sanofi S.A also has significant market presence with its brands like
Lantus and Apidra.
For
More Details On The Report, Read- https://www.pressreleasebulletin.com/human-recombinant-insulin-market-size/