INSULIN MARKET ANALYSIS
However, increasing cost of insulin products especially drugs and stringent regulatory norms for approval of new drugs may hamper growth of the market. For instance, according to the Pharmaceutical Care Management Association (PCMA) report in May 2018, insulin price has increased by 10 folds in the past few years. According to PCMA, prices for Humulin/ Novolin have increased from US$ 25 per prescription in 1985 to around US$ 300 in 2016. Also, prices for long-acting insulins have increased from around US$ 100 per prescription in 2007 to around US$ 400 in 2016.Thus, increasing cost of such insulin therapies are restraining the global insulin market growth.
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