April 23, 2024

Growing Patient pool with Diabetes to Drive Growth of the Human Recombinant Insulin Market

The global Human Recombinant Insulin Market is estimated to be valued at US$ 41,602.7 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The human recombinant insulin market deals in manufacturing and marketing of long-acting and short-acting insulin analogs and modern insulin for treating diabetes. Recombinant DNA technology is used to produce human insulin that is identical to natural insulin produced by the human body. It is administered through subcutaneous injection to regulate blood glucose levels. This insulin offers compelling advantages over animal-derived insulin such as reduced risk of allergic reactions, consistent quality, and improved pharmacokinetic and pharmacodynamic properties. Rising prevalence of diabetes due to obesity, sedentary lifestyle and unhealthy eating habits has fueled the demand for effective diabetes management therapies like recombinant human insulin.

Market key trends:

One of the key trends in the market is the growing preference for long-acting basal insulin analogs over traditional human insulin. These long-acting insulin provide smooth insulin coverage for 24 hours with single daily injection. Popular recombinant basal insulin analogs include insulin glargine and insulin detemir. Their popularity can be attributed to features like consistent pharmacokinetic profile, lower risk of hypoglycemia and convenient once-daily dosing. According to the International Diabetes Federation, nearly 463 million adults aged 20-79 years are living with diabetes globally and the number is projected to rise to 578 million by 2030. Increase in patient pool with diabetes will subsequently drive the demand for recombinant human insulin in the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low in the Human Recombinant Insulin market owing to high capital requirements for R&D and manufacturing. There are also strong economies of scale and significant barriers for new firms to gain market share.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of generic and biosimilar insulin products. However, branded products still command premium pricing.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as the key raw materials for insulin production such as hormones and enzymes have few substitutes and suppliers.

Threat of new substitutes: The threat of new substitutes is moderate as alternative diabetes management drugs are being researched but none have proven superior to insulin therapy yet.
Competitive rivalry: Intense as major players compete on innovation, quality, and pricing.

Key Takeaways

The Global Human Recombinant Insulin Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing prevalence of diabetes globally. The International Diabetes Federation estimated that approximately 537 million adults were living with diabetes in 2021 worldwide.

Regionally, North America dominated the global market in 2023 with a share of over 35%, followed by Europe. The high adoption rate of advanced diabetes therapies, and presence of major players in the region contribute to North America’s leading position. However, Asia Pacific is expected to be the fastest growing market, expanding at a CAGR of over 13% during the forecast period. Rapid urbanization, lifestyle changes, and rising affordability are driving the growth of diabetes treatment in emerging Asian countries.

Key players operating in the Human Recombinant Insulin market are Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Julphar Gulf Pharmaceutical Industries, Biocon Limited, Bioton S.A., Gan & Lee Pharmaceuticals, Ltd., Zhuhai United Laboratories Co., Ltd., Wanbang Biopharmaceuticals Co., Ltd., and Dongbao Enterprise Group Co., Ltd. Major players are focusing on geographical expansion and product innovation to gain a competitive advantage in the market.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it