North America dominates the global market for human insulin due to large number of aging the population, increasing prevalence of diabetes and diabetes-related disorders.
New York, NY -- (SBWIRE) -- 04/13/2015 -- According to a new market report published by Persistence Market Research "Global Market Study on Human Insulin: Asia Pacific to Witness fastest Growth by 2020," the global human insulin market was valued at USD 24,332.6 million in 2014 and was expected to grow at a CAGR of 12.4% from 2014 to 2020, to reach an estimated value of USD 49,197.3 million in 2020.
Browse the full Global Market Study on Human Insulin: Asia Pacific to Witness fastest Growth by 2020 report at http://www.persistencemarketresearch.com/market-research/human-insulin-market.asp
Globally, the human insulin market is witnessing significant growth due to increasing prevalence of diabetes and obesity. In addition, increasing R&D investments in drug discovery and development and rising awareness about diabetes are also driving the growth of the market. However, uneven pricing and limited access to human insulin in emerging countries and strict regulatory requirement for drug approval inhibits the growth of the market. The global human insulin market was anticipated to grow from an estimated USD 24,332.6 million in 2014 to USD 49,197.3 million by 2020 at a CAGR of 12.4% during the forecast period.
North America has the largest market and Asia-Pacific has the fastest growing market for human insulin. In terms of type of human insulin, modern human insulin represents the largest and fastest growing segment of this market.
Modern human insulin provides effective results compare to traditional human insulin. Dosages and duration of modern human insulin vary from person to person, as insulin requirement differs from person to person. Modern human insulin was estimated at USD 19,526.8 million in 2014 and was expected to reach USD 40,987.1 million by 2020, growing at a CAGR of 13.2% during the forecast period.
Some of the major players in the human insulin market are Novo Nordisk A/S, Eli Lilly and Company, Sanofi, Biocon, Tonghua Dongbao Pharmaceutical Co., Ltd., Adocia, Merck & Co., Inc., Pfizer, Inc., Wockhardt and others.
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The human insulin market is segmented as follows:
1) Human insulin market, by type
Traditional human insulin
Modern human insulin
2) Traditional human insulin market, by type
Short acting human insulin
Intermediate acting human insulin
Premixed human insulin
3) Modern human insulin market, by type
Rapid-acting human insulin
Long-acting human insulin
Premixed human insulin
4) Human insulin market, by disease
Type 1 diabetes
Type 2 diabetes
5) Traditional human insulin market, by brand
6) Modern human insulin market, by brand
7) Human insulin market, by geography
Rest of the World (RoW)
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