The global human insulin market was valued at $23,981.6 million in 2014. The market is expected to grow at a CAGR of 12.5% during the period 2015 to 2020, to reach $48,487.7 million value by 2020.
On the basis of type of human insulin, the modern human insulin commands the larger share in the global market. The modern human insulin is also expected to grow at a CAGR (of 13%) than traditional human insulin during 2015 to 2020. The modern human insulin can be further categorized as long acting human insulin, rapid acting human insulin and premixed human insulin; wherein, the long acting human insulin commands the largest share in modern human insulin market but the premixed human insulin exhibited the highest growth rate. The long acting human insulin is prescribed by physicians for the treatment of type 2 diabetes. It is absorbed slowly and works for long time to control the sugar level between meal and sleep. It is administered once or twice a day and the onset time for long acting human insulin is 1 hour, and has its effect for 20 hours to 26 hours.
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Increasing prevalence of diabetes, increasing number of geriatric population, rising prevalence of obesity and increasing R&D investment for more effective insulin are driving the growth of the human insulin market in North America. The North American human insulin market is expected to grow by a CAGR of 11.8% during the period 2015 to 2020. In Europe, according to International Diabetic Federation in 2013, approximately 52 million people were suffering from diabetes in Europe. The European human insulin market is expected to grow by a CAGR of 12.6% during the period 2015 to 2020. Thus, increasing prevalence of diabetes would increase the usage of human insulin.
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The global human insulin market has a fragmented structure with large number of companies operating in the market. The key players in the human insulin market include Sanofi, Novo Nordisk A/S, Eli Lilly and Company, GlaxoSmithKline Plc, Pfizer, Inc., Merck & Co., and Julphar.
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