Increased Launch of Novel Insulin Products to Stimulate Market Growth This factor has led to a rise in demand for human insulin globally and is responsible for the market’s growth during the forecast duration. Moreover, according to International Diabetes Federation, around 10.0% of total diabetic people have type 1 diabetes. According to a study published in Diabetologia, the Journal of the European Association for the Study of Diabetes (EASD), the prevalence of type-1 diabetes is estimated to be over 9.0 million people around the world. Insulin is very essential for type 1 diabetes patients and is required on a daily basis for glycemic control.
Moreover, a substantial number of studies demonstrate that insulin analogs have pharmacodynamics and pharmacokinetic profiles closer to normal, resulting in faster offset and onset of insulin effect when compared with regular human insulin.Īlso, basal insulin analogs (long-acting insulin detemir, insulin glargine) have been reported to offer less variability, longer duration of action, more predictability, favorable effect on weight, and less hypoglycemia (especially nocturnal). The launch of insulin analogues has provided replacement strategies proposed to mimic normal human physiology more closely.
Growing Adoption of Insulin Analogues to Propel Market Progress
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Request a Free sample to learn more about this report. Therefore, the resumption of diabetes testing & new launches positively affected the demand for human insulin in 2021. In addition, the revenues generated by Sanofi in 2021 increased 1.7% compared to the revenues in 2020. Novo Nordisk A/S insulin products revenue recovered by 4.3% compared to 2020. However, revoking lockdown restrictions and stay-at-home orders in many countries, along with launches of novel drugs, and re-establishment of the supply chain network have been instrumental for the recovery during 2021. In addition, Eli Lilly registered a decline of -4.1% in the revenue generated by insulin products compared to 2019. For instance, Sanofi registered a decline of around -7.9% in insulin products’ revenues generated in 2020 compared to 2019. The market players witnessed a significant decline in revenue generated during 2020.
In terms of revenue, the market witnessed a decline of 5.5% in 2020. The decline in the volume of diabetes testing and less focus on disease management other than COVID-19 and other major parameters affected insulin sales, especially during the first half of 2020. In addition, key players operating in the market recorded a significant decline in their revenues due to the COVID-19 pandemic. The emergence of COVID-19 has impeded the demand for insulin due to fewer patients opted for the treatment of diabetes. COVID-19 IMPACTĭecline in Demand for Insulin Products owing to Lower Diagnosis Rates during COVID-19 Pandemic Combined with this, favorable reimbursement policies in developed countries are estimated to boost the overall market. This increasing prevalence of diabetes due to the higher adoption of a sedentary lifestyle is projected to propel the insulin market. Hence, the rising prevalence of diabetes across the globe will strongly support the adoption of human insulin, thereby supporting market growth. It is further estimated that the number of patients will rise to 643.0 million by 2045.
The market is projected to grow from USD 18.95 billion in 2023 to USD 21.04 billion by 2030, exhibiting a CAGR of 1.5% during the forecast period. The global human insulin market size was valued at USD 18.73 billion in 2022.
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