The Global Human Insulin Drug Market Growth Accelerated By Rapid Increase In Diabetes Cases

 

Human Insulin Drug Market

Human insulin drugs are used to manage blood sugar levels in diabetes patients. They help to replenish insulin that the body either doesn't produce or doesn't produce enough of. The popularity and need for human insulin drugs is increasing substantially owing to the rising prevalence of diabetes worldwide. According to estimates, approximately 475 million people suffered from diabetes in 2019 and this number is projected to grow to 700 million by 2045.

The global Human Insulin Drug Market is estimated to be valued at US$ 56921.85 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major market trends driving the human insulin drug market is the rapid increase in the number of diabetes cases globally. The International Diabetes Federation reports that nearly 537 million adults aged between 20-79 years suffered from diabetes in 2021 worldwide. This number is projected to see a massive rise to 783 million cases by 2045. Further, several new innovative insulin drugs and delivery systems have also been developed in recent years to improve patient's compliance and convenience. For instance, long acting insulin such as glargine and degludec insulin provide consistent basal insulin levels for over 24 hours with a single daily injection. Rise of technologically advanced insulin pens and patches is also gaining popularity as they are more convenient to use compared to vials and syringes. Various initiatives undertaken by governments and health organizations to spread awareness about diabetes management is another key factor boosting demand for human insulin drugs.

Segment Analysis
The Global Human Insulin Drug Market Analysis is segmented into rapid-acting insulin, long-acting insulin, and premixed insulin. The premixed insulin segment dominated the market in 2021 owing to the convenience of fewer daily injections for diabetes type 2 patients. Premixed insulin comes as a fixed dose combination of short-acting and intermediate or long-acting insulin. This reduces the need for multiple daily injections.

Key Takeaways
The global human insulin drug market is expected to witness high growth over the forecast period. Rapid population growth and rising levels of obesity and lifestyle diseases are driving the market. Additionally, increasing government focus on affordable healthcare will aid market expansion. The global Human Insulin Drug Market is estimated to be valued at US$ 56921.85 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024-2031.

Regional analysis
North America currently dominates the market due to high healthcare expenditure and growing diabetic patient population. Asia Pacific is expected to witness the fastest growth during the forecast period. Improving access to healthcare services and increasing disposable income levels are facilitating market growth in the region.

Key players
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.

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