The global human recombinant insulin market describes the insulin market derived from human insulin analogues produced by recombinant DNA technology. Recombinant insulin is bioengineered through the removal of human insulin DNA and its insertion into host organisms such as yeast, which are then used to mass-produce insulin analogues that are extremely similar to natural insulin. Recombinant insulin provides an inexpensive yet effective treatment option for managing blood glucose levels in patients with diabetes. The rising prevalence of diabetes globally, driven majorly by sedentary lifestyles and obesity, has resulted in a growing patient pool requiring insulin therapy. Additionally, recombinant insulin offers advantages such as greater stability, purity and bioavailability compared to animal-derived insulin.
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.
Market key trends:
One of the key trends in the human recombinant insulin market is the rising demand and adoption of long-acting basal insulin analogues. Basal insulin plays a crucial role in managing basal glucose levels throughout the day and night. Newer analogues such as insulin degludec and insulin glargine provide sustained glucose control for up to 42 hours with a single daily injection. This offers improved treatment adherence and quality of life for patients. Moreover, long-acting analogues exhibit an improved safety profile with lower risk of hypoglycemia compared to traditional insulin therapy. Their widespread use for type 2 diabetes treatment is expected to drive market growth over the forecast period.
Threat of new entrants: Low barriers to entry due to intellectual property regulations. However, existing players have established distribution channels and brands.
Bargaining power of buyers: Moderate bargaining power due to availability of substitutes and price sensitivity of customers.
Bargaining power of suppliers: High bargaining power of raw material suppliers due to specialized inputs and technologies required.
Threat of new substitutes: Moderate threat due to innovation in oral drug delivery systems and novel therapies.
Competitive rivalry: High competition due to presence of large multinational companies.
an Recombinant Insulin Market Demand is expected to witness high growth. 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.
Regional analysis: North America dominates the market currently due to high healthcare expenditure and growing prevalence of diabetes. However, Asia Pacific is expected to grow at the fastest pace during the forecast period due to improving access to healthcare in major countries such China and India.
Key players: 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. Major players are focused on product innovation and partnerships for new molecule development and geographical expansion.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it