Human Recombinant Insulin Market to Surpass US$ 47.8 billion by 2026 | Coherent Market Insights

August 22 22:06 2019
Human Recombinant Insulin Market to Surpass US$ 47.8 billion by 2026 | Coherent Market Insights

Global Human Recombinant Insulin Market – Industry Insights
The global human recombinant insulin market was valued at US$ 27.4 billion in 2018, and is expected to witness a CAGR of 7.2% over the forecast period (2018 – 2026)

 

The Global Human Recombinant Insulin Marketby 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), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) was valued US$ 27.4 billion in 2018, and is projected to exhibit a CAGR of 7.2% over the forecast period (2018 – 2026) as highlighted in a new report published by Coherent Market Insights.

According to the Addressing the Challenge and Constraints of Insulin Sources and Supply (ACCISS): 2016 report, the insulin market including human recombinant insulin largely contributes around 40 local manufacturers, with largely local markets apart from three largest global insulin manufactures: Novo Nordisk A/S, Sanofi S.A. and Eli Lilly and Company. Furthermore, various manufacturers offer a recombinant analog of human insulin-like growth factor that has been specifically engineered for the research and industrial cell culture market, providing a consistent, compliant, and reliable alternative to recombinant insulin. Such manufacturers include: Merck KGaA, Thermo Fisher Scientific, Inc., among others. These manufacturers offers recombinant human insulin analogue products as a raw material or blended with custom media formulations for small scale process development and commercial biomanufacturing applications. Launch of biosimilar and other insulin products and research for recombinant insulin products is expected to drive growth of the market during the forecast period.

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Moreover, rising diabetes population, worldwide combined with increasing research and development (R&D) activities by various government and private organizations in human insulin development is expected to boost growth of the human recombinant insulin market in the near future.

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. Glucose Responsive Insulin (GRI) or smart insulin is a novel technology for people with diabetes, which works by 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. Smart insulin decreases the number of regular blood tests required and also minimizes the number of daily dose of insulin injections. 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 can use a micro-needles system to automatically detect high blood glucose levels and administer insulin appropriately.

Key players in the human recombinant insulin market are implementing inorganic growth strategies to develop and introduce 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 focused on developing Glycostasis’s ‘smart insulin’ technology.

Key manufactures are launching innovative and improved human recombinant insulin in the market to fulfill the increasing demand for insulin. According to the Addressing the Challenge and Constraints of Insulin Sources and Supply (ACCISS): 2016 report, global insulin market is largely dominated by three pharmaceutical companies: Novo Nordisk A/S, Sanofi S.A. and Eli Lilly and Company. Furthermore, Southeast Asia and Latin America accounts with higher number of smaller human recombinant insulin manufactures, than other regions.

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The global human recombinant insulin market is expected to expand at a CAGR of 7.2% during the forecast period (2018 – 2026), owing to increasing technological advancement in recombinant human insulin by various key players.

Long acting human insulin are projected to grow with higher pace during the forecasted period in the product type segment, owing to their higher efficiency and ability to offer consistent insulin delivery throughout the day, lasting 24 hours.

Other brands hold major market share in brand segment, due to the involvement of innovative and new human recombinant insulin portfolio with increased patent expiry period such as Toujeo, Tresiba, Basaglar, among others; in this segment, which further expected to capture higher market share, during the forecast period.

Retail pharmacies holds largest market share in distribution channel segment. As retail pharmacies offer direct access to full range of diabetes products, covering all prescription and over-the-counter products for patients with diabetes.

Some of the major 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.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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