The global human recombinant insulin market comprises insulin analogs and biosimilar human insulin products used for the treatment of diabetes. Recombinant insulin effectively regulates blood glucose levels and offers improved glycemic control compared to traditional animal-derived insulin. It is administered through subcutaneous injection via insulin pens, pumps, and syringes. The need for recombinant insulin is driven by the rise in the incidence of diabetes globally.
The global human recombinant insulin market is estimated to be valued at US$ 41602.7 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the human recombinant insulin market is the rising prevalence of diabetes. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 globally and the number is projected to rise to 643 million by 2030 and 783 million by 2045. The increased diabetic population base has significantly boosted the demand for effective diabetes management, thereby propelling the sales of recombinant insulin products. Moreover, diabetes prevalence is rising rapidly in low and middle-income countries due to the growing urbanization, aging population, physical inactivity, and obesity. This increasing diabetes burden worldwide will continue augmenting the recombinant insulin market during the forecast period.
Segment Analysis
The global human recombinant insulin market is dominated by the modern/analogue segment. This is because modern/analogue insulins mimic the time action of naturally secreted insulin more closely than human and animal insulins. They are also less likely to initiate immune reactions as compared to human insulin. However, over the forecast period, the demand for human insulin is also expected to rise moderately due to its lower cost as compared to modern/analogue insulins.
Key Takeaways
The Global Human Recombinant Insulin Market Demand is expected to witness high growth over the forecast period between 2023 and 2030. The global human recombinant insulin market is estimated to be valued at US$ 41602.7 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
North America currently dominates the market due to favorable reimbursement policies and growing prevalence of diabetes in the region. However, Asia Pacific is expected to witness the fastest growth over the forecast period supported by rising healthcare spending and large diabetic population in countries like China and India.
Key players: Key players operating in the human recombinant insulin market are Collins Aerospace, Thommen Aircraft Equipment, Mid-Continent Instruments & Avionics, Mikrotechna Praha, Barfield, AeroControlex, Falcon Gauge, UMA Instruments, Aircraft Spruce & Specialty Co., Kelly Manufacturing, Mitchell Aircraft Products, Ahlers Aerospace, Suzhou Changfeng Instruments, LX navigation, MAV Avionics, Suzhou Changfeng Instruments Co. Ltd., Mid-Continent Instrument Co. Inc., J.D.C. ELECTRONIC INDUSTRIES and Falcon Gauge, Sigma Tek, Inc.
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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.
