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| Human Insulin Drug Market |
Human insulin drug manufacturers are focused on developing vial and pre-filled pen formulations that offer accurate and convenient delivery of insulin therapy. These formulations help manage blood glucose levels in patients with type 1 and type 2 diabetes. The global Human Insulin Drug Market is estimated to be valued at US$49411.32 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
The rising prevalence of diabetes is one of the major factors driving the
growth of the human insulin drug market. As per the International Diabetes
Federation (IDF), in 2021, approximately 537 million adults (20-79 years) were
living with diabetes and by 2030, the number is projected to rise to 643
million. Moreover, type 2 diabetes accounts for approximately 90% of all
diabetes cases. Thus, the growing burden of diabetes has increased the demand
for effective treatment options like human insulin drugs. Further, various
initiatives undertaken by governments and private organizations to increase
awareness about diabetes and insulin therapy are also fueling the adoption of
human insulin drugs.
Segment
Analysis
The global Human Insulin Drug market is dominated by rapid-acting insulin sub
segment. Rapid-acting insulin acts faster in comparison to short-acting insulin
and provides better glycemic control to patients. It is preferred for mealtime
or correcting high blood sugar as it gets absorbed quickly by the body and
works within 15 minutes. This has led the rapid-acting insulin sub segment to
capture over 40% market share in 2024.
Key Takeaways
The global Human
Insulin Drug Market Growth is expected to witness high growth over the
forecast period between 2023 to 2030.
Regional
analysis: Asia Pacific is projected to grow at a highest CAGR during the
forecast period. Increasing disposable incomes, rising awareness related to
diabetes management and expanding reach of healthcare facilities are some key
factors fueling the market growth in the region. Rapid economic development and
improving standards of living have led to changes in lifestyle and diet habits
of people in Asia Pacific countries. This has contributed to the rising
incidence of diabetes. Countries like India and China have emerged as lucrative
markets in the region due to their large patient population. Additionally,
growing investments by leading manufacturers for facility expansion and new
product launches will further drive the regional market.
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. Rollins Inc. captured over 15% market share in
2024 owing to its wide distribution network across regions. Ecolab Inc. and
Rentokil Initial Plc. also have significant market presence based on their
product portfolio and years of operations in the industry. The other players
are focusing on new product launches and enhancing their global footprint
through partnerships and acquisitions to gain market share over the forecast
period.
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