Published On : 10 Jan 2017
Perhaps the most crucial factor driving the sales of insulin, both active pharmaceutical ingredients (API) and injections, is an alarming rise in the prevalence of diabetes across the globe. A report added to QYResearchReports.com, titled “Global Insulin (API & Injection) Sales Market Report 2016”, studies the sales and revenue of insulin around the world.
Animal insulin had been successfully for 60 years before the introduction of human insulin in North America in 1982. The advantages of human insulin over animal insulin included fewer side effects, more effective, and safer for use. The market for animal insulin, thus, declined gradually over the years, making room for an impressive human insulin market.
The World Health Organization states that in 2014, the global prevalence of diabetes among adults was pegged at 8.5%, rising from 4.7% in 1980. In figures, the number of diabetics rose from 108 mn to 422 mn during the same period. For people particularly suffering from Type 1 diabetes, controlling blood glucose levels requires regular administering of insulin. As a result, the greater percentage of diabetics has significantly boosted the sales of insulin, both injections and APIs.
The growing prevalence of diabetes can be attributed to alarming levels of obesity among people, high percentage of geriatric population, and unhealthy lifestyles. The WHO states that nearly 2 bn people around the world were identified to be overweight in 2014, with 600 mn of them being obese. Obesity increases the risk of diabetes, thereby increasing the demand for insulin.
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Insulin sales can be pegged in hospital settings as well as home care settings. Home care settings present immense scope for growth in the overall market as more and more people are gaining awareness about self-administration of insulin at home itself. The availability of insulin delivery devices such as injectors, pens, and pumps, has also increased of late and these devices are immensely user-friendly and portable.
The report studies the overall insulin market on the basis of product type, application, and region. By way of product, the market comprises human insulin, animal insulin, and insulin analogue. Based on application, the insulin market is segmented into intermediate acting insulin, short-acting insulin, long-acting insulin, and premix insulin. On the basis of region, the sales of insulin in China, the U.S., Japan, and Europe have been discussed.
The U.S. is a major market for insulin owing to the high diabetic population in the country and the accessibility of technologically advanced delivery devices. The Centers for Disease Control and Prevention finds that in 2016 alone, at least 200 mn people in the country were suffering from diabetes. China and Japan are also prominent insulin markets and are anticipated to witness strong growth in the coming years. The development of these markets can be attributed to the increasing presence of diabetes in the countries, the expansion of global vendors in the region, the rising purchasing power of patients, and growing awareness about the chronic disease.
Eli Lilly, Novo Nordisk, Ganlee, Sanofi-Aventis, Dongbao, United Laboratories, Merck, and Bioton are some of the leading players in the global insulin market. Basic information pertaining to the company, manufacturing base, competitors, product portfolio, businesses, sales, price, revenue, and gross margin has been provided in the report.
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