Human Insulin Market Research Report: Information by Type Traditional Human Insulin and Modern Human Insulin, by Indication Type 1 Diabetes and Type 2 Diabetes, and by End-User Hospitals and Clinics and Research Institutes- Global Forecast Till 2023
Human Vaccines Market - Scenario
Human insulin is synthetic insulin manufactured in laboratories by growing the insulin protein with the help of E. coli bacteria. The Global Human Insulin Market is driven by the increasing prevalence and occurrence of Diabetes Mellitus (DM) and the increasing demand for human insulin. Additionally, the increasing technological innovations and the rising awareness and screening for diabetes mellitus also drive the market.
Growing emphasis on diabetes management including new treatment options and rising geriatric population are various other factors that accelerate the growth of the market.
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Human Insulin Market - Scenario
Human insulin is synthetic insulin manufactured in laboratories by growing the insulin protein with the help of E. coli bacteria. The global human insulin market is driven by the increasing prevalence and occurrence of Diabetes Mellitus (DM) and the increasing demand for human insulin.
Additionally, the increasing technological innovations and the rising awareness and screening for diabetes mellitus also drive the market. Growing emphasis on diabetes management including new treatment options and rising geriatric population are various other factors that accelerate the growth of the market.
The global Human Insulin Market is expecting a healthy growth at a CAGR of 12.1% during forecast period.
Human Insulin Market - Key players
Some of the major players in the global human insulin market are Biocon Ltd, Tonghua Dongbao Pharmaceuticals Co., Ltd., ADOCIA, Merck & Co, Julphar, Pfizer, Inc, Bristol-Myers Squibb Company, GlaxoSmithKline, Oramed Pharmaceuticals, Inc, Novo Nordisk A/S, and Sanofi.
Human Insulin Market - Segmentation
The global human insulin market is segmented by type, indication, and end-users.
On the basis of type, it is segmented into accessories and devices.
On the basis of methods, it is segmented into traditional human insulin and modern human insulin.
On the basis of applications, it is segmented into type 1 diabetes and type 2 diabetes.
On the basis of end-users, it is segmented hospitals, forensic laboratories, research centers, and others.
Human Insulin Market - Regional analysis
America is the largest market for human insulin. The growth of the market is driven by the inclination towards quality healthcare, increase in healthcare spending, and the presence of leading players. The U.S. is the largest market followed by Canada. South America is expected to be the fastest growing regions.
The European market for human insulin is driven by research funding in diabetes diagnosis and treatment and presence of huge population suffering from diabetes. In Germany, the market is driven by the increasing government support for research and development activities and a huge demand for human insulin. The increasing prevalence of obesity and unhealthy lifestyle of the people further increase the risk of diabetes among the European population.
In Asia Pacific, the human insulin market is fueled by the rising awareness of human insulin and a huge population base. China, Japan, and India are the major contributors to the growth of the market due to improvement in disease diagnosis and treatment services and development of the healthcare infrastructure. Furthermore, the presence of huge geriatric population diagnosed with diabetes also fuels the growth of the market in countries such as India and China in Asia Pacific.
In the Middle East & Africa, the market exhibits the growth owing to the rising demand for treatment services and need for primary care services. In countries such as United Arab Emirates (U.A.E.), Saudi Arabia, and Oman the availability of specialty care services and changing lifestyles of the people are the major drivers for the growth of the market. In Africa, poor economic condition and less development in medical facilities also determine the demand for diagnosis and treatment services.
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