HUMAN RECOMBINANT INSULIN MARKET ANALYSIS

Discovery of insulin is considered to be one of the most important events in the history of the diabetes treatment. Furthermore, major advances in human insulin technology is the synthesis of human insulin analogue by recombinant technology. Currently, human insulin delivery system available for the administration of insulin include insulin syringes, insulin pumps, jet injections, and pens. Key players are focused on developing recombinant human insulin instead of animal-based insulin, owing to increasing demand for human insulin in the treatment of diabetes. Human recombinant insulin has a faster onset of action and lower immunogenicity than pork or beef insulin. Currently human recombinant insulin is gaining significant traction with the development of biosimilars analogue of human insulin.

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 global human recombinant insulin market in the near future.

The global human recombinant insulin market is estimated to be valued at US$ 36,134.5 million in 2022 and is expected to exhibit a CAGR of 7.3% during the forecast period (2022-2030).

Figure 1. Global Human Recombinant Insulin Market Share (%), by Product Type, 2022

To learn more about this report, request sample copy

The increasing investment in diabetes research activities is expected to drive the growth of the global human recombinant insulin market.

Various government and private research organizations are engaged in research and development activities for developing advanced treatment in diabetes care to increase the effectiveness of human insulin, reduce diabetes burden, and minimize the risk of diabetes associated disorders such as diabetes-associated blindness, kidney disease, heart attacks, strokes or limb loss. For instance, on April 25, 2022, The American Diabetes Association (ADA) announced the opening of a new nomination window for the Pathway to Stop Diabetes research grants in 2022. The ADA is looking for scientists for research and development for diabetes by awarding two five-to-seven-year grants, the ADA will provide funding up to US$ 1.625 million over either five or seven years, which allows diabetes researchers the resources and protected time to pursue innovative research.

Figure 2.Global Human Recombinant Insulin Market Share (%), by Region, 2022

To learn more about this report, request sample copy

Increasing prevalence of diabetes worldwide is expected to drive growth of the global human recombinant insulin market is expected to drive the market growth.

Increasing prevalence of diabetes worldwide is expected to drive growth of the human recombinant insulin market is expected to drive the market growth over the forecast period. For instance, according to data published by the World Health Organization (WHO) in 2019, diabetes was the direct cause of 1.5 million deaths and 48% of all deaths due to diabetes occurred before the age of 70 years.

Global Human Recombinant Insulin Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency on January 30, 2020.

The COVID-19 can affect the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with regard to the transportation of drugs from one place to another.

Governments of various countries are focusing on the initiatives to fight against COVID-19 pandemic, and to stop the spread of coronavirus infections by implementing various measures in the countries. Moreover, to reduce the spread of COVID-19 in the country, Brazil has implemented some measures and guidelines. For instance, in 2020, Brazil government announced economic assistance to the Brazilian population to fight against the economic crises such as unemployment and others observed in Brazil. Moreover, Government of Mexico is taking initiatives to facilitate COVID-19 vaccination drive from healthcare facilities. For instance, in December 2020, Government of Mexico announced vaccination campaign drive in each state of Mexico to promote benefits of vaccination in the fight against COVID-19 pandemic

Global Human Recombinant Insulin Market: Key Developments

On April 26, 2022, Biologics Limited (BBL), a subsidiary of Biocon Ltd., announced that its subsidiary Biocon Sdn. Bhd. in Malaysia has been awarded a three-year contract, valued at US$ 90 million, for company’s recombinant human insulin brand Insugen by the Ministry of Health (MoH), Malaysia.

Global Human Recombinant Insulin Market: Restraint

The major factors that hinder the growth of the global human recombinant insulin market include high cost of insulin, as patients from low and middle countries are unable to afford it. For instance, in September 2020, an article published by the Office of the Assistant Secretary for Planning and Evaluation (ASPE) at the U.S. Department of Health & Human Services compared insulin, pricing in the U. S. and in other countries showed that in 2018, the average gross manufacturer price for a normal unit of insulin was more than ten times the price in a sample of 32 foreign countries price of insulin in the U.S were US$ 98.70 and US$ 8.81 in the 32 Non-U.S. the Organization for Economic Co-operation and Development (OECD) countries.

Key Players

Major players operating in the 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.