Home Healthcare Recombinant Insulin Market Revenue 2019 | Industry Insights, Global Trends, and Forecast to 2026
Recombinant Insulin Market Revenue 2019 | Industry Insights, Global Trends, and Forecast to 2026

Recombinant Insulin Market Revenue 2019 | Industry Insights, Global Trends, and Forecast to 2026

Sedentary and unhealthy lifestyle, binge eating, obesity, impaired glucose tolerance, diabetes family history, and increased insulin resistance are some of the risk factors for developing diabetes among the global population. Moreover, increasing number of diabetic population, and growing research and development (R&D) studies in human recombinant insulin to introduce improved version of insulin in the market is expected to boost the growth of human recombinant insulin market in near future. Key manufactures are launching innovative and improved human recombinant insulin in the market to fulfill the increasing demand for insulin. According to the Addressing the Challenge and Constraints of Insulin Sources and Supply (ACCISS): 2016 report, global insulin market is largely dominated by three pharmaceutical companies: Novo Nordisk A/S, Sanofi S.A. and Eli Lilly and Company. Furthermore, Southeast Asia and Latin America accounts with higher number of smaller human recombinant insulin manufactures, than other regions.

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Key manufacturers are engaged in launching novel human insulin portfolio and gaining regulatory approval for their insulin product portfolio. For instance, in August 2014, Eli Lilly and Company launched Jardiance (empagliflozin) as a treatment option for Type 2 diabetes patients in the U.S. Jardiance is a sodium glucose co-transporter-2 (SGLT2) inhibitor with Type 2 diabetes patients. In March 2016, Biocon Limited collaborated with LaboratoriosPiSA S.A de CV (PiSA) to jointly develop and sell a generic recombinant human insulin in America. Biocon expects the product to launch by 2020 in the U.S. In February 2018, Novo Nordisk launched Fiaspa: a fast-acting mealtime insulin in the U.S. Fiaspa received U.S. FDA approval and indicated to improve glycemic control in adults with type 1 and type 2 diabetes. In December 2017, the U.S. Food and Drug Administration (FDA) approved Sanofi’s Admelog. Admelog is a follow-on mealtime insulin, which helps people living with diabetes manage blood sugar levels at mealtime.

However, high cost of insulin may restrain growth of the market, as patients from low and middle countries are unable to afford it. According to the Pharmaceutical Care Management Association (PCMA) May 2018 report, prices of insulin have increased over 10-fold since 1985 and prices have exhibited significant rise during the last past 10 years (2008 to 2018). According to PCMA, prices for Humulin/Novolin have increased from around US$ 25 per prescription in 1985 to nearly US$ 300 in 2016. Furthermore, prices for long-acting insulins have increased from around US$ 100 per prescription in 2007 to nearly US$ 400 in 2016.

Efficient diabetes management and ease of use creates need for advancements in current solutions of both insulin and its delivery systems thereby, offering reduced patient discomfort. Glucose Responsive Insulin (GRI) or smart insulin is a novel technology for people with diabetes, which works by automatically reacting to blood sugar fluctuations in body and responds to changing blood glucose levels. The lower or higher blood sugar levels are lead to release of more or less insulin, respectively. Smart insulin decreases the number of regular blood tests required and also minimizes the number of daily dose of insulin injections. Researchers from the University of North Carolina have been working on a smart insulin patch. For instance, in 2015, researchers reported that, smart insulin patch can use a micro-needles system to automatically detect high blood glucose levels and administer insulin appropriately.

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Key players in the human recombinant insulin market are implementing inorganic growth strategies to develop and introduce smart insulin technology in the market. For instance, in February 2016, Eli Lilly and Company acquired Glycostasis, Inc., a startup company engaged in developing smart insulin. Eli Lilly and Company is focused on developing Glycostasis’s ‘smart insulin’ technology.

Key players operating in human recombinant insulin market include Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Julphar Gulf Pharmaceutical Industries, Biocon Limited, Bioton S.A., Gan & Lee Pharmaceuticals, Ltd., Zhuhai United Laboratories Co., Ltd., Wanbang Biopharmaceuticals Co., Ltd., and Dongbao Enterprise Group Co., Ltd.

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