The worldwide human insulin market is projected to achieve around USD 42 billion by 2019. It is expected to attain a CAGR of about 12.5 percent from 2014 to 2019. The mentioned phase marks the forecast period. The worldwide market is predicted to be steered ahead by increased occurrence of diabetes cases around the globe. Growing population of the aged that augments the occurrence of diabetes and rising people suffering obesity owing to poor living styles are also estimated to drive the demand for the human insulin market during the forecast period.
Escalating supportive governmental initiatives regarding good health and coming forth of pen instruments to inject human insulin effectively are also anticipated to steer the market forward. Conversely, the authoritarian ambience for endorsing drugs from biotechnology is more strict and complicated in the United States and Europe. This factor is expected to obstruct further development of the human insulin market. High production intricacies and prices linked with down streaming procedures would limit new participants from getting into the market.
The coming to the fore of safety pen needles for efficient deliverance of insulin would improve the usage of insulin. This is also, in a way, likely to drive the market forward. Various benefits affiliated with safety pen needles as against regular needles are estimated to do well for the human insulin market and propel it further. The worldwide market was anticipated to have collected around USD 23 billion in 2013. It is projected to rise at a double digit CAGR during the forecast period and notice decent expansion in the future.
The market is split into products, insulins and geographical regions. The products market includes biosimilars and biologics. The human insulin market, on the basis of insulins, is divided into modern human insulin and conventional human insulin. The geographical regions human insulin market is split into four regions, including North America, rest of the world, Asia Pacific and Europe.