are expected to offer lucrative growth opportunities for industry players in the insulin industry during the forecast
period.
In addition, rising need for biosimilar medicine owing to its cost effectiveness is anticipated to drive market growth in
the upcoming years. Extensive research & development indicative undertaken by both private bodies and
governmental authorities are expected propel market demand for insulin in near future. Introduction of innovative
products for treatment of type II diabetes such as ORMD-0801, which is an oral insulin is considered as one of the
driving factors for the market growth, in the recent years.
The insulin market is broadly categorized into six major types based on the product type such as rapid acting analog
insulin devices, longer acting analog insulin devices, pre-mixed insulin, pre-mixed analog, short acting insulin, and
intermediate insulin. Insulin acting analogs is considered as one of the fastest growing segment in the insulin market
with substantial revenue generation in the last couple of years.
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Growing popularity of the insulin acting analogs segment is attributed to increasing cost of long acting analogs and
superior performance. Shifting preferences by healthcare professionals, doctors and surgeons regarding adoption of
insulin analogs due to better efficiency over conventional devices are expected fire up market demand for analog
insulin in the upcoming years. The long acting analog insulin segment has also witnessed substantial revenue
generation in the last few years as well.
Insulin is a type of hormone that secreted by the pancreas in human body, which helps to utilize sugar (glucose) from
carbohydrates in the food, thus providing necessary energy for body function. Additionally, insulin maintains blood
sugar level in human body, thus preventing sugar level from getting too high causing hyperglycemia and getting too
low causing hypoglycemia. Insulin is released insulin into bloodstream by pancreas after consummation of food. Insulin
helps to completely absorb sugar from the bloodstream.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceutical
& medicine sector, increase in prevalence of diabetes, large geriatric population, and existence of well-established
healthcare infrastructure in the region.
Asia-Pacific region is predicted to hold major market share in the insulin market with massive growth in forecast period.
Countries such as India, China, Taiwan, Philippines, Vietnam, Indonesia, and Singapore are leading the Asia-Pacific
market with rising healthcare expenditure, growing personal disposable income, increasing health consciousness
among general population, and significant investment by leading industry players considering potential growth
opportunities in the region.