Human recombinant insulin refers to insulin that is produced through means of genetic engineering in cells that are not native to the pancreas of humans. It involves gene cloning of the human insulin sequence into genetically engineered bacteria or yeast cells to produce large quantities of insulin that have very similar structure and function to naturally secreted insulin from the pancreas. The global recombinant insulin market is primarily driven by the rising prevalence of diabetes and growing demand for therapies in developing regions.
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 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Insulin is a key hormone that regulates blood glucose level. It is essential for people diagnosed with diabetes which occurs either when the body does not produce enough insulin or cannot use the insulin it produces effectively. Human recombinant insulin helps diabetes patients to manage their blood glucose level and prevent long term complications. The two most common types of diabetes are type 1 diabetes which accounts for 5-10% cases and requires lifelong use of insulin injections and type 2 diabetes which accounts for 90-95% cases and is often initially managed through lifestyle and oral medications but may eventually require insulin treatment as the disease progresses. The increasing prevalence of diabetes worldwide driven by aging population and risk factors like obesity is expected to drive the demand for human recombinant insulin over the forecast period.
The key drivers aiding the growth of the market include increasing prevalence of diabetes globally as highlighted in the heading. According to International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 globally which is projected to rise to 643 million by 2030 and 783 million by 2045. Furthermore, increasing adoption of human recombinant insulin owing to its cost-effectiveness compared to native insulin and ability to be mass produced to meet rising demand is another factor boosting the market growth. Rising awareness regarding early diagnosis and management of diabetes in developing regions is also promoting the adoption of recombinant insulin medications. However, side effects associated with insulin therapy like hypoglycemia may negatively impact the market during the forecast period.
The global human recombinant insulin market is dominated by the short acting insulin segment which holds around 60% of the market share. Short acting insulin provides a faster onset of action and shorter duration of activity, usually lasting 3-6 hours. Therefore, it is commonly prescribed to be taken before or during meals to manage blood glucose levels. The long acting insulin segment is the second largest segment. Long acting insulin has a slower onset but provides basal insulin for approximately 24 hours to control glucose levels between meals.
Political: Regulations and oversight regarding drug discovery, development, and approval processes impact the market. Governments aim to improve access to affordable treatment options.
Economic: Rising diabetes prevalence globally increases healthcare costs, boosting market demand. However, pricing pressures from governments and payers challenge profitability.
Social: Growing health awareness and better diagnosis drives the market. However, stigma around diabetes injections can impact treatment adherence.
Technological: Advancements in insulin types, delivery methods, and glucose monitoring sensors expand treatment options and enhance outcomes. Connected health solutions also encourage disease management.
The Global Human Recombinant Insulin Market Growth is expected to witness high over the forecast period. 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 10% over the forecast period 2023 to 2030.
North America currently dominates the market owing to the rising diabetes prevalence, widespread healthcare coverage, and availability of advanced treatment options in the region. The Asia Pacific region is expected to emerge as the fastest growing market for human recombinant insulin attributed to the rising prevalence of diabetes, growing healthcare expenditure, increasing adoption of innovative therapies, and favorable government policies facilitating market access in the region.
Key players operating in the human recombinant insulin market are Collins Aerospace, Thommen Aircraft Equipment, Mid-Continent Instruments & Avionics, Mikrotechna Praha, Barfield, AeroControlex, Falcon Gauge, UMA Instruments, Aircraft Spruce & Specialty Co., Kelly Manufacturing, Mitchell Aircraft Products, Ahlers Aerospace, Suzhou Changfeng Instruments, LX navigation, MAV Avionics, Suzhou Changfeng Instruments Co. Ltd., Mid-Continent Instrument Co. Inc., J.D.C. ELECTRONIC INDUSTRIES, Falcon Gauge, Sigma Tek, Inc. Key players focus on expanding their product portfolios and leverage partnerships and acquisitions for sustained growth in the highly competitive market.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it