Human insulin drug manufacturers are focused on developing vial and pre-filled pen formulations that offer accurate and convenient delivery of insulin therapy. These formulations help manage blood glucose levels in patients with type 1 and type 2 diabetes. The global Human Insulin Drug Market is estimated to be valued at US$49411.32 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
The rising prevalence of diabetes is one of the major factors driving the growth of the human insulin drug market. As per the International Diabetes Federation (IDF), in 2021, approximately 537 million adults (20-79 years) were living with diabetes and by 2030, the number is projected to rise to 643 million. Moreover, type 2 diabetes accounts for approximately 90% of all diabetes cases. Thus, the growing burden of diabetes has increased the demand for effective treatment options like human insulin drugs. Further, various initiatives undertaken by governments and private organizations to increase awareness about diabetes and insulin therapy are also fueling the adoption of human insulin drugs.
Segment Analysis
The global Human Insulin Drug market is dominated by rapid-acting insulin sub segment. Rapid-acting insulin acts faster in comparison to short-acting insulin and provides better glycemic control to patients. It is preferred for mealtime or correcting high blood sugar as it gets absorbed quickly by the body and works within 15 minutes. This has led the rapid-acting insulin sub segment to capture over 40% market share in 2024.
Key Takeaways
The global Human Insulin Drug Market Growth is expected to witness high growth over the forecast period between 2023 to 2030.
Regional analysis: Asia Pacific is projected to grow at a highest CAGR during the forecast period. Increasing disposable incomes, rising awareness related to diabetes management and expanding reach of healthcare facilities are some key factors fueling the market growth in the region. Rapid economic development and improving standards of living have led to changes in lifestyle and diet habits of people in Asia Pacific countries. This has contributed to the rising incidence of diabetes. Countries like India and China have emerged as lucrative markets in the region due to their large patient population. Additionally, growing investments by leading manufacturers for facility expansion and new product launches will further drive the regional market.
Key players operating in the Human Insulin Drug market are Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc. Rollins Inc. captured over 15% market share in 2024 owing to its wide distribution network across regions. Ecolab Inc. and Rentokil Initial Plc. also have significant market presence based on their product portfolio and years of operations in the industry. The other players are focusing on new product launches and enhancing their global footprint through partnerships and acquisitions to gain market share over the forecast period.
For more insights, read- https://www.ukwebwire.com/human-insulin-drug-market-trends-size-and-share-analysis/
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