The demand for insulin production is increasing to meet the treatment demand of the rising number of diabetic patients relying on insulin. This has led to increasing competition among market players to develop new insulin drugs in the market.
Insulin helps in promoting protein synthesis, glycogenesis, and glycolysis and in uptake of various ions. Earlier, insulin was isolated from sheep, and pigs, but later on, genetically modifying bacterial cells are also used to produce human insulin. Current treatment relies on developing commercial human insulin by recombinant DNA technology.
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New product development and launches are expected to drive growth of global insulin market
Oramed Pharmaceuticals, in May 2018, developed the first oral drug delivery system, which stimulates the natural process of insulin in the liver. This insulin product is in phase II of clinical trial under the U.S. Food and Drug Administration (FDA) and this will provide efficient and safer method for delivering insulin therapy to patients.
Furthermore, in February 2018, Sanofi Aventis launched Toujea in India, a next generation basal insulin, with once or daily usage forms which improves glycemic control in adults with type 1 and type 2 diabetes.
Increasing research activities for the development of innovative diabetic management drugs by using technology such as delivering insulin without needle provides better opportunities for manufacturers in the global insulin market. For instance, from year 1952 to 2017, the American Diabetes Association (ADA) has invested US$ 807.4 million for over 4,700 research projects on diabetes.
In September 2017, Biocon Limited received funding from Juvenile Diabetes Research Foundation (JDRF) to study safety and efficacy of insulin Tregopil in diabetic patients. Insulin Tregopil is currently undergoing a pivotal Phase II/III study in type 2 diabetes patients in India. This fast acting insulin can improve post prandial glucose control with fewer side effects.
However, increasing cost of insulin products especially drugs and stringent regulatory norms for approval of new drugs may hamper growth of the market. For instance, according to the Pharmaceutical Care Management Association (PCMA) report in May 2018, insulin price has increased by 10 folds in the past few years. According to PCMA, prices for Humulin/ Novolin have increased from US$ 25 per prescription in 1985 to around US$ 300 in 2016. Also, prices for long-acting insulins have increased from around US$ 100 per prescription in 2007 to around US$ 400 in 2016.Thus, increasing cost of such insulin therapies are restraining the global insulin market growth.
Global Insulin Market – Competitive Landscape
Key players operating in the global insulin market include Eli Lilly and Company, Novo Nordisk A/ S, Julphar Gulf Pharmaceutical Industries, Sanofi S.A., Biocon Limited, GlaxoSmithKline, and Wockhardt. These companies are adopting strategies such as mergers, acquisitions, expansions, collaborations, and new product launches to retain their position in the global insulin market. For instance, in August 2018, Novo Nordisk acquired Ziylo to develop smart, glucose responsive insulin (GRIs), ensuring optimal glucose control and reducing risk of hypoglycemia.
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Global Insulin Market – Taxonomy
The global insulin market is analyzed based on the following segmentations:
By Product Type
Drugs
- Rapid Acting
- Short Acting
- Intermediate Acting
- Long Acting
- Premixed
Drug Delivery Devices
- Pens
- Syringes
By Distribution Channels
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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