(PharmaNewsWire.Com, April 05, 2022 ) The Human Insulin Market is all set to unleash its potential to the fullest, reaching 2X at a CAGR of XX%. The new normal constitutes video chatting with therapists. The patients are thus able to create their profile and look for the therapist (s) of their choice. Patients could, thus share the data from various apps and share it with their provider (s) for a better understanding of the personalized care needed by them. Such would be the healthcare vertical.
According to a new market report published by Persistence Market Research “Global Market Study on Human Insulin: Asia Pacific to Witness fastest Growth by 2027,” the global human insulin market was valued at USD 24,332.6 million in 2014 and was expected to grow at a CAGR of XX% from 2022 to 2027, to reach an estimated value of 2X in 2027.
Globally, the human insulin market is witnessing significant growth due to increasing prevalence of diabetes and increasing awareness among people about diabetes care. In addition, technological advancements in insulin delivery devices and increasing prevalence of lifestyle related disorders such as obesity are also driving the growth of the market.
However, uneven pricing and limited access to human insulin in emerging countries such as Brazil, India, and China are inhibiting the growth of the human insulin market. In addition, strict regulatory requirements for drug approval are also restraining the growth of the market.
Some of the major players in the human insulin market:
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. Other.
In North America, increasing prevalence of diabetes with growing age and availability of advanced human insulin infusion devices are driving the use of human insulin in the market.
In addition, increasing prevalence of lifestyle associated disorders such as obesity is also boosting the growth of the human insulin market in this region. For instance, according to the Centers for Diseases Control and Prevention (CDC), a U.S.-based national public health institute, over one-third children and adolescents were obese in 2012 in the U.S.
In Europe, the human insulin market is driven by rising aging population and increasing prevalence of diabetes. In addition, in Germany the market is evolving due to rising prevalence of diabetes and increasing awareness among people about diabetes care. However, in Asia-Pacific the growth for human insulin is much higher than developed countries due to increasing prevalence of diabetes and increasing government initiatives for improving healthcare.
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