by Human Recombinant Insulin plays a vital role in the management of diabetes by mimicking the action of natural human insulin in maintaining normal blood glucose levels. Advancements in recombinant insulin production technologies have paved the way for production of recombinant insulins that closely resemble the time action profile of natural human insulin. This has enhanced patients’ compliance and adherence to treatment regime.
The global Human Recombinant Insulin Market is estimated to be valued at US$ 41602.7 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Innovation in production technologies has led to the development of recombinant insulins that have enhanced pharmacokinetic and pharmacodynamic profiles, resulting in better glycemic control. For instance, rapid-acting insulin analogs such as insulin lispro, insulin aspart, and insulin glulisine have been introduced using DNA recombination techniques. These analogs have amino acid substitutions that allow for absorption into the systemic circulation soon after subcutaneous administration, addressing the delay in absorption noted with regular human insulin formulations. These advances in recombinant insulin offerings have boosted adoption and driven market growth over the past few years.
SWOT Analysis
Strength: The global human recombinant insulin market is mature with many established players. Strong R&D on improving product efficacy is driving the market.
Weakness: High costs associated with production and stringent regulations for approval may restrain market growth.
Opportunity: Rising incidence of diabetes worldwide offers potential opportunities. Emerging economies with large diabetic populations can boost demand.
Threats: Threat of substitute drugs and patent expirations of blockbuster drugs pose challenges. Stringent regulatory norms add to compliance burden.
Key Takeaways
The Global Human Recombinant Insulin Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated at US$ 41602.7 Mn and projected to rise at a CAGR of 10% through 2030.
Regional analysis: North America currently dominates the market and is expected to maintain its leading position over the forecast period. This can be attributed to presence of major players, higher healthcare spending, and growing diabetes prevalence in the region. Asia Pacific is anticipated to emerge as the fastest growing market owing to increasing patient pool, growing disposable incomes, and rising health awareness in developing countries of the region.
Key players analysis: Key players operating in the human recombinant insulin market are Collins Aerospace, Thommen Aircraft Equipment, Mid-Continent Instruments & Avionics, Mikrotechna Praha, Barfield, AeroControlex, Falcon Gauge, UMA Instruments, Aircraft Spruce & Specialty Co., Kelly Manufacturing, Mitchell Aircraft Products, Ahlers Aerospace, Suzhou Changfeng Instruments, LX navigation, MAV Avionics, Suzhou Changfeng Instruments Co. Ltd., Mid-Continent Instrument Co. Inc., J.D.C. ELECTRONIC INDUSTRIES, Falcon Gauge, Sigma Tek, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
