The global human recombinant insulin market is primarily driven by the rising prevalence of diabetes across the world. Recombinant insulin is a bioengineered protein produced through biotechnology that imitates natural human insulin. It helps regulate blood glucose levels in diabetes patients and has a longer duration of action compared to regular insulin. Recombinant insulin comes in two forms - short-acting insulin and long-acting insulin. Short-acting insulin works within 15 minutes of injection and has a duration of action of 3-5 hours. It is prescribed before meals to control the rise in blood glucose levels after eating. Long-acting insulin starts working within 2 hours, peaks in 6-8 hours, and remains active for over 24 hours. It is used to manage basal, fasting, or overnight blood glucose levels. Recombinant insulin biologics have gained significant acceptance over animal insulin due to their similar molecular structure and action to human insulin.
The global human recombinant insulin market is estimated to be valued at US$ 41,602.7 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
One of the key trends in the human recombinant insulin market is the growing adoption of biosimilar insulin. Biosimilar insulin products have the potential to substantially reduce healthcare costs while expanding treatment access. Biosimilar insulin has an identical molecular structure and similar quality attributes, biological activity, purity, and potency as the innovator product. Regulatory agencies like the U.S FDA have introduced an abbreviated approval pathway for biosimilar insulin to facilitate quicker market access at more affordable prices. This is expected to intensify competition in the overall insulin market in the coming years. Another important trend gaining traction is the increasing research into novel insulin delivery devices such as inhalable insulin and oral insulin pills. Inhaled insulin is non-invasive and needle-free which improves patient compliance. Oral insulin would be needle-free and mimic the physiological post-prandial insulin release pattern. Advancements in these areas may transform insulin therapy and management of diabetes in the long run.
Porter's Analysis
Threat of new entrants: The threat of new entrants to the human recombinant insulin market is moderate. High capital requirements and the presence of established players presents barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate. There are a large number of suppliers providing substitutable products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Raw material suppliers do not have significant influence due to availability of alternative supply sources.
Threat of new substitutes: The threat of new substitutes is moderate. Existing substitutes like synthetic insulin analogs pose a threat, while insulin delivery devices provide incremental benefits.
Competitive rivalry: The competitive rivalry is high due to the presence of a few large players with established brand names. Players compete on pricing, proprietary technologies, and service quality.
Key Takeaways
The global human recombinant insulin market is expected to witness high growth. The global human recombinant insulin market is estimated to be valued at US$ 41,602.7 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023-2030.
North America currently dominates the market due to high prevalence of diabetes and favorable reimbursement policies in the region. Asia Pacific is expected to grow at the fastest rate during the forecast period due rising awareness regarding diabetes treatment and management.
Key players
Key players operating in the human recombinant insulin market are 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.
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Human recombinant insulin is a synthetic insulin produced by growing insulin proteins within Escherichia coli using recombinant DNA technology.
Human insulin is classified into two types: short-acting (regular) insulin and intermediate-acting (NPH) insulin.
Insulin is essential for glucose utilization.Furthermore, insulin plays a vital function in immunity and inflammatory regulation.
Diabetes symptoms include increased thirst, urination, hunger, and weight loss.
However, there is a flip side to the coin: when too much insulin is generated, it may also create excessive thirst, and excessive hunger can lead to overeating and obesity.
Human insulin is available to consumers in a variety of forms, including insulin injections, pills, and syrups, as well as injection.
