The global rapid acting insulin market was valued at $7,100 million in 2019, and is projected to reach $8,925 million by 2027 at a CAGR of 4.1% from 2020 to 2027. The growth of the global rapid acting insulin market is majorly driven by the surge in prevalence of diabetes worldwide, increase in investment in research and development (R&D) for human recombinant insulin is expected to drive the need for insulin used in management of diabetes thereby boosting the growth of the market. Furthermore, sedentary & unhealthy lifestyles increase all causes of mortality, double the risk of diabetes, because of overweight or obesity, an unhealthy diet and physical inactivity, which account for about 80% of the increase in prevalence of diabetes. However, the reluctance in adoption of rapid acting insulin due to the side effect, such as hypoglycemia, may hinder the growth of the industry. Conversely, untapped market and undiagnosed population in developing regions are expected to provide lucrative growth opportunities for the market growth.
Rapid acting insulin are insulin analogs that have the fastest onset of action than other analogues of insulin These types of insulin analogs enter into the bloodstream within few minutes; hence, it is necessary to inject it after before 5 to 10 minutes of food intake. In addition, rapid acting insulin act very quickly, they can lead to an increased chance of hypoglycemia. Some of the rapid acting insulin available in the market include Fiasp, Humalog, NovoRapid, Apidra and others.
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The global rapid acting insulin market is segmented on the basis of product type, indication, distribution channel, and region. By product type, the market is segregated into insulin lispro, insulin aspart and insulin glulisine. Depending on indication, it is fragmented into type 1 diabetes and type 2 diabetes. Furthermore, the market is divided on the basis of distribution channel into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
? The study provides an in-depth analysis of the global rapid acting insulin market along with the current trends and future estimations to explain the imminent investment pockets.
? The report provides a quantitative analysis for the period of 2019-2027 to enable stakeholders to capitalize on the prevailing market opportunities.
? Extensive analysis of the market by components helps to understand various types of instruments used across regions.
? Comprehensive analysis of all regions is provided to determine the prevailing opportunities in these regions.
? Key market players have been profiled in the report and their strategies have been analyzed thoroughly to understand the competitive outlook of the global market.
? Extensive analysis of the market is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
KEY MARKET PLAYERS
– ADOCIA SAS
– Biocon Limited
– Eli Lilly and Company
– Gan & Lee Pharmaceuticals
– Geropharm LLC
– Mannkind Corporation
– Novo Nordisk A/S
– Sanofi S.A.
– Wockhadt Ltd.
KEY MARKET SEGMENTS
By Product Type
– Insulin Lispro
– Insulin Aspart
– Insulin Glulisine
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By Indication
– Type 1 Diabetes
– Type 2 Diabetes
By Distribution Channel
– Hospital Pharmacies
– Drug Stores & Retail Pharmacies
– Online Providers
By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
– Asia-Pacific
o Australia
o Japan
o India
o China
o South Korea
o Rest of Asia-Pacific
o
– LAMEA
o Latin America
o Middle East & Africa
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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