Human recombinant insulin refers to artificially synthesized insulin that is identical to natural insulin and produced through DNA recombination technology. It is used for the treatment of diabetes and is administered via injections or insulin pumps. Recombinant insulin has replaced insulin extracted from animal sources due to the risk of contamination and immunological reactions in diabetic patients. It provides effective glycemic control and reduces the risk of diabetes-related complications. Some common recombinant insulin products available in the market include NovoRapid/NovoLog, Lantus, Levemir, Apidra among others.

The global human recombinant insulin market is estimated to be valued at US$ 41602.7 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 Dynamics

The key driver that is contributing to the growth of the human recombinant insulin market is the rising prevalence of diabetes. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 globally and the number is projected to rise to 783 million by 2045. Diabetes significantly increases the risk of cardiovascular, eye, kidney, and nerve diseases. Recombinant insulin helps manage blood glucose levels and protect from diabetes-related complications. Additionally, the launch of novel and improved insulin formulations such as long-acting and ultra-long-acting insulin analogs for better glycemic control is further fueling the demand for recombinant insulin.

SWOT Analysis

Strength: Recombinant insulin has a variety of advantages over animal-derived insulin. It is produced through biosynthesis using recombinant DNA technology which ensures a more consistent quality and supply. Recombinant insulin also has lesser risk of allergic reactions in patients as it is structurally identical to human insulin. The production process allows for large-scale and cost-effective manufacturing.

Weakness: The recombinant insulin production process requires sophisticated techniques and infrastructure which involves high initial investments. Significant research and development expenditures are also involved to develop new and improved recombinant insulin products. Rising production costs can negatively impact profit margins for manufacturers.

Opportunity: The global recombinant insulin market is expected to grow substantially driven by the rising prevalence of diabetes worldwide. Increased adoption of recombinant insulin across developed and developing regions presents lucrative growth opportunities. New product launches catering to convenient and effective diabetes management also expand viable market space.

Threats: Stringent regulatory processes for the approval of recombinant insulin can delay product launch and market entry. Biosimilar competition threatens major brands with the loss of revenue share. Economic slowdowns in key markets impose financial pressures. Patients in poorer regions have low access and adherence due to affordability challenges.

Key Takeaways

The Global Human Recombinant Insulin Market Growth is expected to witness high growth at a CAGR of 11% during the forecast period of 2023-2030. The market size is projected to reach US$ 41602.7 Mn by 2023 from US$ 25002.1 Mn in 2018.

North America currently dominates the global market due to favorable reimbursement policies and rising incidence of diabetes. However, Asia Pacific is anticipated to emerge as the fastest growing regional market owing to the huge patient population and growing healthcare expenditures in countries such as China and India.

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. Novo Nordisk and Eli Lilly capture the majority market share. Players focus on expanding geographical presence and new product launches to strengthen market position.

For More Details On The Report,  Read- https://www.timessquarereporter.com/business/the-global-human-recombinant-insulin-market-growth-accelerated-by-increased-demand-for-premix-and-cartridges