SAN FRANCISCO, September 24, 2015 /PRNewswire/ --
The global insulin market size is expected to reach USD 53.04 billion by 2022, according to a new report published by Grand View Research, Inc. The rising prevalence of diabetes and obesity and extensive R&D development forming a strong product pipeline is estimated to promote the insulin industry over the forecast period.
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Growing prevalence of lifestyle related disorders such as obesity due to irregular dietary habits and increasing genetic induction of diabetes (type I) over the next six years is expected to fuel growth. The American Diabetes Association (ADA), stated over 15,000 adults are currently being diagnosed with type I diabetes annually.
Browse full research report with TOC on "Insulin Market Analysis By Product (Fast Acting, Short Acting, Intermediate Acting, Pre-Mix and Long Acting), By Segments (Insulin Analogs And Human Recombinant Insulin), By Application (Type I and Type II Diabetes) And Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/insulin-market
According to statistics, global obesity prevalence was 1.4 billion amongst adults and more than 40 million amongst children under the age of five in 2010, providing a huge number of individuals prone to inflict type II diabetes over the forecast period.
Furthermore, the presence of high patient awareness levels and demand for better efficacy products is expected to promote extensive research by companies and other institutes facilitating expansion market expansion.
Insulin analogs are expected to report revenue of over USD 45 billion by 2020, on account of its higher efficacy and substitution of human recombinant insulin. On the basis of type of diabetes, type II and other diabetes is projected to contribute about 85% of the revenue.
Long acting analog is anticipated to be the most lucrative segment and is likely to grow at a CAGR of over 15.0% over the forecast period. The segment's high growth is accounted for by fast selling products such as Lantus by Sanofi Aventis. Moreover, the addition of new products such as Novo Nordisk's Tresiba ultra long acting analog is expected to further drive segment growth.
North America was the largest regional market in 2013, with revenue estimated at USD 8.87 billion, owing to the higher incidences of diabetes and obesity and increasing geriatric population base. High market diffusion of modern insulin products such as rapid acting analogs, long acting, and DPP-4 drugs such as Januvia, Nesina and Onglyza is major factor contributing to its large share.
Asia Pacific is anticipated to grow at a lucrative rate of over 15.0% during the forecast period. Rapid economic development and the consequent improvement in healthcare infrastructure and expenditure levels in the region are expected to fuel future market growth.
Key players of this market include Takeda Pharmaceuticals, Sanofi, Novo Nordisk, Bristol-Myers Squibb, Eli Lilly, Dongbao Enterprise Group Co., Novartis, Biocon, Oramed Pharmaceuticals Ltd. and others. Presence of generic and local manufacturers over the forecast period may affect the global share of these companies.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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