Diabetes is a chronic disease which occurs either when the pancreas fails to develop sufficient insulin or when the human body is unable to effectively use the insulin. Symptoms associated with diabetes are frequent urination, blurred vision, increased thirst, rapid weight loss, numbness or tingling sensation in hands or feet and increased hunger. Factors which increase the risk of diabetes are ethnicity, family history, unhealthy diet, physical inactivity and smoking. Diabetes can damage the heart, eyes, blood vessels, kidneys, and nerves which may lead to disability and premature death. There are three types of diabetes, namely, type 1, type 2 and gestational diabetes. Type 1 diabetes can cause due to complex interaction between genes and environmental factors. The most common risk factors for type 2 diabetes are overweight and obesity. However, gestational diabetes develops only during pregnancy.
Human insulin is created in laboratory by growing insulin proteins within E-coli bacteria. Human insulin regulates the blood glucose levels. The long acting insulin stays in the body for up to 24 hours, whereas the intermediate acting insulin stays in the body for 16 to 24 hours. Another form of insulin is short acting insulin which stays in the body for 6 to 8 hours. The next form of insulin is rapid acting insulin which stays in the body for 3 to 5 hours. Further, premixed analog insulin is also a form of insulin which is used in diabetes. It is made by combining rapid acting and long acting insulin. Absorption of the insulin can be delayed due to smoking and scarring. Human insulin is absorbed more rapidly as compared to insulin and it causes lesser autoimmune diseases.
The major factor driving the human insulin market is the increasing prevalence of diabetes. According to International Diabetes Federation, in 2015, diabetes affected 415 million people worldwide and this number is expected to reach up to 642 million by 2040. Moreover, increase in the prevalence of obesity will also fuel the growth of this market. For instance, as per WHO, in 2014, more than 1.9 billion adults, 18 years and older, were overweight, and out of these, over 600 million were obese. Moreover, it states that, in 2014, 41 million children whose age was under 5 were obese or overweight. However, strict regulatory requirements for the approval of human insulin product will hamper the growth of human insulin market.
The key strategy adopted by the major players in the market is product launch to gain more share. For instance, in November 2016, Novo Nordisk A/S received FDA approval for Xultophy which is a combination of Tresiba and Victoza. By the launch of Xultophy, Novo Nordisk A/S will gain more market share.
The major players in the market are Novo Nordisk A/S, Biocon, Sanofi, SemBioSys, Julphar, Wockhardt Limited, and Eli Lilly and Company.
Human Insulin Market Segmentation:
- Rapid Acting
- Long Acting
- Premixed Modern
- Traditional Human Insulin
- Short Acting
- Intermediate Acting
- Premixed Traditional
- Modern Human Insulin Brands
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- United Arab Emirates
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
Data Collection Matrix
Primary Data Sources
- Distributors & Wholesalers
- Healthcare Providers
Secondary Data Sources
- Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
- Government/Associations Publications
- Case Studies
- Reference Customers
Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Quantitative Data (2017-2025)
- Market Dynamics (Drivers, Restraints, and Challenges)
- Industry Trend Analysis
- Market Opportunities
- Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
- Porter’s Five Forces and PESTLE Analysis
- Key Developments and Competitive Landscape
- Market Assessment and Forecast
- Market Assessment and Forecast, By Product
- Market Assessment and Forecast, By Technology
- Market Assessment and Forecast, By Application
- Market Assessment and Forecast, By End User
- Market Assessment and Forecast, By Region/Country