DALLAS, June 27, 2014 /PRNewswire/ --
According to the new market research report, "Human Insulin Market by Product Type (Human Insulin (Short Acting, Intermediate Acting, Premixed), Modern Human Insulin (Rapid Acting, Long Acting, Premixed), by Brand (Lantus, Apidra, Levemir, NovoRapid, Novomix, Tresiba, Others) - Forecast to 2018" published by MarketsandMarkets, The global Human Insulin Market crossed $23 Billion in 2013 and is poised to grow at a high double-digit CAGR from 2013 to 2018.
Browse 112 market data Tables and 43 Figures spread through 250 Pages and in-depth TOC on "Human Insulin Market"
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The market is segmented based on products, and types of insulin. Based on products, the global Human Insulin Market is segmented into biologics and biobetters, and biosimilars/biogenerics. Human Insulin Market is also segmented into traditional and modern human insulin. Of these, modern human insulin and biosimilars will be the fastest-growing market in the next five years. The major factors propelling this growth are cost effective treatment offered while using modern human insulin and low price of biosimilars/biogeneric drugs of human insulin thereby stimulating the demand for biosimilar human insulin products.
By type of insulin, traditional human insulin is further segmented into short acting human insulin, intermediate acting human insulin, and premixed whereas Modern human insulin is fragmented into long acting human insulin, rapid acting human insulin, and premixed modern human insulin. Of all, long acting human insulin accounted for the largest share and pre-mixed human insulin will be the fastest growing market witnessing double-digit growth between 2014-2019. Lantus was the best-selling drug in the year 2013 whereas Apidra and Levemirare estimated to be the two fastest growing drugs in the Human Insulin Market.
Geographic analysis reveals that North America is the largest contributor to the global Human Insulin Market in 2014and will witness moderate growth between 2014-2019. Factors driving the North American market are the growing healthcare cost that enforce more consumption of modern human insulin due to its significant cost effectiveness, spiraling aging population, expanded diabetic population, and biologics such as Lantus, Novorapid, and Novomixgoing off-patent that opens the door for biosimilar, biogenerics, and biobetters of these branded products.
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Asia-Pacific will be the fastest growing market for human insulin production, development, and distribution. Further, Asia-Pacific countries are considered to be the lucrative ones for investors to invest in for manufacturing and clinical activities of pipeline and existing human insulin product. Major players enter the Asian market with the purpose to collaborate with various CMO and CRO existing in this region that fosters the development of human insulin at lower cost compared to the other region across the globe. The demand for human insulin will be on the rise in coming five years due to the high prevalence rate of diabetes as well as low price of human insulin.
The key players in the market are Novo Nordisk (Denmark), Eli Lilly (U.S), Sanofi Aventis(France),Biocon (India), Julphar(U.A.E),Wockhardt (India),SemBioSys (Canada), and GSK (U.K.).
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