Human Insulin Drug Market, By Product Type (Human Insulin, Basal Insulin, Bolus Insulin, Insulin Combinations, Biosimilar Insulins), By Type (Short Acting and Long Acting), By Application (Type 1 Diabetes and Type 2 Diabetes), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jun 2024

Code : CMI5316

Pages :165

Formats :

Excel and PDF

Industry : Pharmaceutical

Human Insulin Drug Market Size and Trends

Global human insulin drug market is estimated to be valued at USD 52.47 Bn in 2024 and is expected to reach USD 92.63 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.

Human Insulin Drug Market Key Factors

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Rising health awareness among people and growing prevalence of diabetes globally are anticipated to increase the uptake of insulin drugs. According to the International Diabetes Federation, more than 537 million adults lived with diabetes in 2021 globally and this number is projected to rise to over 700 million by 2045. Increasing research investments by key players for development of superior drug forms such as long-acting insulin and wearable insulin devices can also drive the market growth. However, high costs associated with insulin therapies may limit market expansion.

Market Driver – Increasing Product launch by Key Market Players

Increasing product launches by key market players is expected to drive the market growth over the forecast period. For instance, in September 2022, Novo Nordisk A/S, a pharmaceutical company, launched unbranded biologic of Tresiba analog insulin to expand affordability options for patients. Tresiba (insulin degludec) injection, a once-daily long-acting basal insulin is indicated to control high blood sugar in patients 1 year of age and older with diabetes.

/p>Improvements in Insulin Therapies

Advancements like the introduction of long-acting, rapid-acting and pre-mixed analogue insulin have provided physicians and patients with more flexibility and better options to manage blood glucose levels. Moreover, enhancements in insulin delivery systems like insulin pens and pumps delivering small and precise doses of insulin have led to improved outcomes. The evolution of insulin combinations and newer therapeutic regimens are helping to reduce complications through improved glycemic control. According to market experts, continued innovation in insulin therapies with new developments like inhaled insulins and smart insulin patches in the product pipeline are likely to attract more patients towards insulin use and boost growth of the human insulin market in the near future.