Human Insulin Market Report Online
The global Human Insulin market size was estimated at USD 25.96 billion in 2023 and is projected to reach USD 33.38 billion in 2030 at a CAGR of 3.2% during the forecast period 2023-2030.
Human Insulin or Insulin is a hormone produced in the human pancreas that regulates the amount of glucose (sugar) in the bloodstream and the metabolism of fats, proteins and carbohydrates in the human body. Insulin is available in different strengths; the most common is U-100, which is used as a dietary and exercise supplement to improve glucose balance in children and adults.
The growth of the global market is attributed to key factors such as increasing demand for human insulin analogues and affordable reimbursements. Technological innovations in human insulin delivery devices are also boosting the market. For example, in August 2020, the US FDA approved the MiniMed 770G, an innovative diabetes management device. This device automatically monitors glucose levels and delivers the correct basal insulin doses to pediatric patients with type 1 diabetes with minimal client (caregiver) input.
The COVID-19 pandemic has significantly affected the human insulin drug market. Patients with type 1 diabetes were more affected during Covid-19. Diabetics have a weak immune system, so in case of COVID-19, the immune system weakens very quickly. Diabetics are more likely to develop serious complications than the general population. In the midst of the pandemic, there have been delays and disruptions in the supply of medicines due to strategies designed to contain the spread of SARS-CoV-2. In addition, hospitals reported a decrease in insulin prescriptions. However, in several countries, the impact of COVID-19 decreased after the second quarter of 2021, helping the market to pull back.
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Last Update : Jul 28, 2023 6:12 AM
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