The United States Human Insulin Market is projected to grow at a CAGR of 4.1% during the forecast period (2022-2028). The market’s growth can be attributed to several factors, including the rapidly increasing diabetic population, the rising prevalence of obesity in young adults, and the growing geriatric population, which is more prone to diabetes. Additionally, investments in research and development by key players also contribute to market growth.
According to a recent study by strategic consulting and market research firm Report Ocean, the United States Human Insulin Market is expected to grow at a CAGR of 4.1% during the forecast period. The increasing diabetic population is a significant driver of market growth. The International Diabetes Federation (IDF) predicts that the number of diabetics worldwide will reach 700 million by 2045, with 1.5 million Americans diagnosed with diabetes each year according to the American Diabetes Association (ADA). Moreover, a growing number of young individuals are being diagnosed with diabetes and irregular blood sugar levels, further fueling market growth. Advances in insulin formulation also play a crucial role in boosting the market.
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The rising prevalence of obesity in young adults and the growing geriatric population are driving market growth. Older individuals and obese people are more susceptible to chronic diseases like diabetes. The sedentary lifestyle and health problems associated with obesity, coupled with technological advancements that promote a comfortable but inactive lifestyle, contribute to disruptions in blood sugar levels. The World Health Organization estimates that in 2021, 537 million adults worldwide will have diabetes, with a significant number suffering from other forms of diabetes. Additionally, around 96 million adults in the U.S. will have prediabetes in 2021. The growing geriatric population also contributes to market expansion.
In terms of applications, Type I diabetes accounted for the fastest market growth in 2021. This is primarily due to the increased diagnostic rate of Type I diabetes and improving access to insulin for this patient group. The Type II diabetes segment is expected to grow at a slower pace due to the availability of various other treatment options. However, the number of people with Type II diabetes requiring insulin treatment has been increasing, leading to steady growth in this segment.
The U.S. human insulin market is highly concentrated, with major players like Novo Nordisk, Sanofi, and Eli Lilly holding significant market shares. Key players in the market include AstraZeneca PLC, Biocon Limited, Dongbao Enterprise Group Co., Ltd., Eli Lilly and Company, GmbH, Julphar, Novartis International AG, Novo Nordisk A/S, Pfizer Inc., Sanofi SA, Tonghua Dongbao Pharmaceutical Co., Ltd, and Wockhardt Ltd. These players employ various marketing strategies such as facility expansion, product development, alliances, collaborations, partnerships, and acquisitions to enhance their market presence and gain a competitive edge.
For businesses seeking opportunities in the United States Human Insulin Market, consulting with analysts can provide crucial insights and support business growth. The comprehensive report offers in-depth analysis, growth potential, upcoming trends, and statistics on the market. It also highlights the factors driving forecasts and recent technology trends to assist decision-makers in making strategic choices. The report further analyzes growth drivers, challenges, and competitive dynamics in the market.
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Market Overview
Market Size & Forecast by Value
By Value (USD Million)
Market Share & Forecast
By Product Type
Human Insulin Drugs
Human Insulin Delivery Devices
By Type
Insulin Analogs and Biosimilars
Long-Acting Biosimilars
Rapid-Acting Biosimilars
Premixed Biosimilars
Human Insulin Biologics
Short-Acting Biologics
Intermediate-Acting Biologics
Premixed Biologics
By Delivery Devices
Syringes
Pens
Disposable Pens
Reusable Pens
Pen Needles
Standard Pen Needles
Safety Pen Needles
By Application
Type I Diabetes
Type II Diabetes
By Distribution Channel
Retail Pharmacies
Hospital Pharmacies
Online Pharmacies
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