Human Recombinant Insulin Market Size (2024 - 2029)

Human Recombinant Insulin Market Analysis

The Human Recombinant Insulin Market size is estimated at USD 28.47 billion in 2024, and is expected to reach USD 32.20 billion by 2029, growing at a CAGR of greater than 2.9% during the forecast period (2024-2029).

COVID-19 is expected to drive the growth of the market during the forecast period. The increased risk for diabetes patients during the COVID-19 outbreak is expected to drive the demand for the human recombinant insulin market. For instance, the article titled ' COVID-19 and Diabetes' published in December 2020 mentioned that about 25% of people who visited the hospital with severe COVID-19 infections had diabetes. Additionally, the article titled ' COVID-19 and Diabetes: Understanding the Interrelationship and Risks for a Severe Course' published in June 2021 mentioned that Patients with diabetes are known to have an increased risk of infections particularly respiratory tract infects such as SARS-CoV-2. Thus, the outbreak of COVID-19 is expected to drive the growth of the market during the pandemic period.

The factors such as the increasing prevalence of diabetes across the world are expected to drive the growth of the market during the forecats period. Diabetes is one of the most malignant diseases of the 21st century. According to the World Health Organization, it has been predicted that diabetes is likely to be the seventh most leading cause of death by 2030.

Furthermore, obesity is the most potent factor for Type 2 diabetes, which accounts for 80-85% of the overall risk of developing Type 2 diabetes. In April 2022, United States National Center for Chronic Disease Prevention and Health Promotion updated its article on physical inactivity and estimated that the reduction in physical activity is one of the major factors causing diseases such as type II diabetes. Hence, due to the exponential rise in the prevalence of diabetes, there is an urgent demand for establishing effective diabetes therapy in countries, which are burdened by inadequate health care budgets, malnutrition, and infectious diseases which is augmenting the demand for human recombinant insulin and the market is majorly driven by the same factor.

Human Recombinant Insulin Industry Segmentation

As per the scope of the report, recombinant human insulin has replaced animal insulin and animal-based semi synthetic human insulin, which are available in sufficient quantities and at affordable prices, in order to provide global access to insulin therapy. The human recombinant insulin market is segmented by drug (short-acting human insulin, intermediate-acting human insulin, and premixed human insulin), brand (Insuman, Humulin, Novolin, and other brands), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America). The market report also covers the estimated market sizes and trends for different countries across major regions and globally. The report offers the value (in USD) and volume (in unit mL) for the above segments. The report will provide a segment-wise breakdown (value and volume) for all the countries covered under the table of contents.