Human recombinant insulin refers to a form of insulin produced through genetic engineering techniques, as opposed to insulin extracted from animals or humans. It mimics natural human insulin and helps lower blood sugar levels in diabetic patients. The rising prevalence of diabetes has boosted the demand for affordable yet effective treatment options like recombinant insulin.
The global human recombinant insulin market is estimated to be valued at US$ 47926.32 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period of 2024 to 2030.
Key Takeaways
Key players operating in the human recombinant insulin market are Au Optronics Corp., Blue Spark Technologies, Cymbet Corporation, E Ink Holdings Inc., Enfucell Softbattery, Imprint Energy Inc., LG Electronics, and Palo Alto Research Center Incorporated. These players are focusing on expanding their production capacity and capabilities through strategic collaborations to meet the growing global demand for recombinant insulin. The market provides opportunities for players to invest in emerging economies with high diabetic populations and develop affordable insulin variants. Recombinant insulin producers are expanding their presence across global markets through collaborations, joint ventures and overseas manufacturing units in regions with large underserved patient pools like Asia Pacific and MEA.
Market Drivers and Restraints
One of the key drivers for The Human Recombinant Insulin Market is the rising global prevalence of diabetes. According to the IDF, approximately 537 million adults were living with diabetes in 2021 worldwide and the number is expected to rise to 643 million by 2030. Higher effectiveness and affordability of recombinant insulin compared to animal-derived insulin is also propelling the market growth. However, stringent regulations for the production of recombinant drugs and proteins acts as a key restraint. Developing biosimilar versions of patented recombinant insulin faces intellectual property barriers as well which hinders market competition and access.
Segment Analysis
The Human Recombinant Insulin market is dominated by the Modern/Rapid-Acting Insulin sub-segment. Modern/Rapid-Acting Insulin offers convenience and quick-acting relief for post-meal and correcting high blood sugar levels. It works within 15 minutes of administration and lasts for about 5 hours. Due to its fast action ability to control blood sugar spikes after meals in a short period of time, the Modern/Rapid-Acting Insulin sub-segment holds the leading market share.
The Intermediate-Acting Insulin sub-segment is the second dominant sub-segment. It acts within 30-60 minutes after administration and lasts for about 8-16 hours. However, its effectiveness is less compared to Modern/Rapid-Acting Insulin for post-prandial glucose control.
Global Analysis
North America dominates the global Human Recombinant Insulin market owing to the rising diabetic population in the region. The availability of advanced treatment options and growing healthcare expenditure also contribute to the market growth in this region.
The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to the improving healthcare facilities, rising medical tourism, and increasing awareness among people about diabetes treatment in emerging nations like China and India.
Get more insights on this topic: https://www.dailyprbulletin.com/human-recombinant-insulin-market-insights/
Comments
0 comment