The presence of an extensive pipeline product portfolio and high prevalence of diabetes are expected to drive market growth over the next six years
San Francisco, California (PRWEB) April 15, 2014
The global market for insulin is expected to reach USD 47.54 billion by 2020, according to a new study by Grand View Research, Inc. Growing global prevalence of type I and type II diabetes and the presence of high unmet needs in emerging markets such as India and China are expected to be two of the most significant growth drivers of this market. Moreover, increasing incidence rates of lifestyle induced diseases such as obesity and growing global geriatric population base are expected to serve the global insulin market as drivers.
The global intermediate and long acting insulin segments were two of the largest markets in 2013 and together accounted for over 45% of the overall revenue. Higher efficacy exhibited by these segments in terms of insulin peak time is one of the major factors accounting for their large market shares.
The report “Insulin Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/insulin-market.
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Further key findings from the study suggest:
- Insulin analogs were the most dominant source in 2013 and accounted for over 70% of the revenue. These products are rapidly substituting the human recombinant insulin products by exhibiting higher efficacy.
- North America was the largest regional market in 2013, accounting for over 40% of global revenue. The presence of sophisticated healthcare infrastructure, high type I diabetes prevalence and patient disposable incomes in this region are some of the factors expected to drive market growth. Emerging markets including Asia Pacific accounted for 26.5% of global revenue in 2013.
- Asia Pacific insulin market is expected to grow at the highest CAGR of over 15% from 2014 to 2020 on account of the presence of high unmet medical needs pertaining to diabetes and increasing healthcare expenditures in emerging markets such as India and China
- Key industry participants include Sanofi, Novo Nordisk, Eli Lilly, Novartis, Biocon, Oramed Pharmaceuticals, Bristol-Myers Squibb, Takeda Pharmaceuticals, Dongbao Enterprise Group Co., Ltd. and others.
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For the purpose of this study, Grand View Research has segmented the global insulin market on the basis of product, segment (on the basis of source), application and region:
- Insulin Product Outlook
• Fast Acting Insulin
• Short Acting Insulin
• Intermediate Acting Insulin
• Long Acting Insulin
• Pre-Mixed Insulin
- Insulin Segment (on the basis of source) Outlook
• Insulin Analogs
• Human Recombinant Insulin
- Insulin Application Outlook
• Insulin for Type I Diabetes
• Insulin for Type II Diabetes
- Insulin Regional Outlook
• North America
• Asia Pacific
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
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