Insulin regulates carbohydrates, fats and proteins metabolism in the body. The human insulin protein is composed of 51 amino acids. Insulin is a peptide hormone produced by beta cells of the pancreatic islets, and it is considered to be the main anabolic hormone of the body. It absorbs glucose from the blood and flow to liver, fat and skeletal muscle cells. The use of insulin is increasing due to predominance of diabetes and obesity.
The major driver for insulin market is growing obesity and diabetes prevalence all over the world. Also extensive & well-established distribution network of insulin drugs in developed as well as fast developing countries boost the insulin market growth. Heavy investments in research and development of insulin products drive this market. However, stringent regulatory requirements for product approval are restraining the growth of this market. The major challenges for insulin market will be, continuously growing competition among the manufacturers and suppliers, regulatory pressure, insurance coverage issues and high insulin cost.
The global insulin market is segmented on the basis of product, drug and disease.
On the basis of product, the market is segmented into short-acting insulin, intermediate-acting insulin, long-acting insulin, premixed insulin.
On the basis of drug, the market is segmented into generic drugs, branded drugs.
On the basis of disease, the market is segmented into type 1 diabetes, type 2 diabetes.
Geographically, the insulin market is segregated in North America, Europe, Asia Pacific, Middle East & Africa and LAMEA. North American region is the global leader in insulin market in terms of values and extent due to high prevalence of diabetes and technological advances in effective insulin delivery. However, Asia-Pacific and LAMEA are the fastest growing geographic segments due to high diabetes incidences, government support and improving healthcare conditions.
The major key players in insulin market such as, Novo Nordisk A/S, Eli Lilly and Company, Sanofi, Biocon, Tonghua Dongbao Pharmaceutical Co., Ltd., Adocia, Merck & Co., Inc., Pfizer, Inc., Wockhardt, Julphar, Bristol-Myers Squibb Company, GlaxoSmithKline Plc, Oramed Pharmaceuticals, Inc. and Other. These players are trying to recognise the needs of market in developing countries and expanding their strategies to improve business needs.
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