Global Short-Acting Insulin Market - 2021-2028
The global short-acting insulin market size was valued US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Short-acting insulin is a type of insulin analog that works very fast to reduce high blood sugar levels. Short-acting insulin is generally either in human or animal insulin form, usually injected subcutaneously using a syringe. Short-acting insulins may also be called regular or neutral insulin.
The short-acting insulin market growth is driven by the high usage of short-acting analogs is increasing due to the rising Type 1 diabetes population, due to sedentary lifestyles, growing geriatric population and unhealthy dietary habits, a greater number of individuals are suffering from chronic lifestyle diseases, thereby increasing the demand for short-acting insulin market.
Increasing Type 1 diabetes population globally, is expected to drive the global short-acting insulin market growth
Diabetes is a chronic, life-threatening disease with an unknown cure. It has been emerged as a global epidemic and affected millions globally. Furthermore, Type 1 diabetes is caused due to an immune system malfunction. Hence, Type 1 diabetes can be characterized most by insulin-requiring.
At present, China has the highest number of diabetes patients in the world. In addition, the prevalence of diabetes in China has risen substantially over the past decade. For instance, according to WHO, in 2020, China had about 126.80 million diabetic patients, and this number is expected to reach 138.42 million by the end of 2026. China's urbanization and growing living standards, leading to reduced physical activity and unhealthy diets, are the significant factors behind the high rate of diabetes. In 2020, China accounted for 9.8% of Type 1 diabetes patients of the total diabetes population.
Risks of short-acting insulins is likely to hinder the market growth
Short-acting insulins or neutral insulins are recombinant human insulins that were developed to mimic regular after-meal insulin release. These are intended to be used as a bolus mealtime insulin to quickly lower the increase in blood glucose (sugar) after eating. Though these are regular human insulins, they do not control the after-meal blood glucose like the insulin produced in the body. After neutral human insulin is injected, it has a delay before it is absorbed into the body. This delays the onset (usually 30 minutes) and prolongs the effect (usually 3-6 hours) of the injected regular insulin. This limit short-acting insulin's effectiveness in providing reasonable glucose control and increases the risk of hypoglycemia.
COVID-19 Impact Analysis
The COVID-19 pandemic has exerted a tremendous strain on the healthcare framework in some countries. Moreover, people with chronic conditions are more at risk if contracted by COVID-19. According to the Centers for Disease Control and Prevention, more than 30 million people in the U.S. have diabetes, a chronic disease that affects how the body turns food into energy and the body's natural insulin production. Over time, diabetes increases the risk of severe health complications, including heart disease, blindness, and nerve and kidney damage. Improvement in blood sugar control through treatment with insulin, a standard treatment, can reduce the risk of some of these long-term complications. However, diabetic patients' lives are at high risk compared to ordinary people. Therefore, the usage of short-acting insulins increased in 2021 due to COVID-19.
The Humalog segment is expected to hold largest share in this market segment
Humalog (insulin lispro) is a short-acting type of insulin. Insulin helps control blood sugar levels in diabetes mellitus, including diabetes type 1 and diabetes type 2. Humalog is more popular than other insulins. In March 2019, Eli Lilly launched the authorized generic insulin lispro injection (Humalog) in the United States. The new generic Humalog has a list price 50% lower than the Humalog list price existing in the market.
The retail Pharmacies segment is expected to hold largest share in this market segment
The retail Pharmacies segment is expected to dominate during the forecast period. Medications are easily, readily available in retail pharmacies as the generic medicine. Retail pharmacies offer convenient services, including home delivery of medicines and availability of all types of drugs and medicines. Moreover, consumer preference for easy availability of products due to busy lifestyles and hectic work schedules is anticipated to boost short-acting insulin market growth.
North America region holds the largest market share of global short-acting insulin market
In 2020, the United States accounted for a majority of the revenue share (about 96%) in the market, mainly due to the increasing diabetic population in the country. According to a recent survey, about 9.4% of the total US population is diabetic, and about 1.75 million Americans are diagnosed with diabetes every year.
The US accounts for the highest sales of Humalog across the world, with over 56% of the market share in 2020. As a result, most diabetes drug manufacturing companies consider the country a critical market for improving overall global sales. In the United States, Humalog is available in different varieties under names, like Humalog Mix 75/25, Humalog U-100, Humalog U-200, and Humalog Mix 50/50, for the treatment of diabetes.
The global short-acting insulin market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Sanofi Aventis, Novo Nordisk, Eli Lilly, Pfizer Inc, Biocon Ltd, Piramal Healthcare, Abbott India Ltd, Torrent Pharmaceuticals, Cadila Pharmaceuticals Ltd, Shreya Life Sciences Pvt.Ltd, Career henan chemical co, Biochempartner, BOC Sciences, Hubei xin bonus chemical co. LTD. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, On 28 May 2021 Novo Nordisk resubmited once-weekly semaglutide 2.0 mg for the treatment of type 2 diabetes for US regulatory approval.
Key Companies to Watch
Overview: Eli Lilly is an American pharmaceutical company was founded in 1876 by Colonel Eli Lilly, Headquarters located in Indianapolis, Indiana, U.S.A with more than 34,000 employees worldwide. Approximately 8,000 employees engaged in research and development and clinical research conducted in more than 55 countries with Research and development facilities located in 7 countries, Manufacturing plants located in 7 countries and Products marketed in 120 countries.
Product Portfolio: The Company's portfolio comprised of include Covid-19, Diabetes, Cancer, Immunology, Pain, Neurodegeneration.
Key Development: In June 2020, the US Food and Drug Administration (FDA) approved Lyumjev (insulin lispro-aabc injection, 100 units/mL and 200 units/mL). Eli Lilly and Company's new short-acting insulin indicated to improve glycemic control in adults with Type 1 and Type 2 diabetes. Lyumjev is a novel formulation of insulin lispro, developed to speed the absorption of insulin into the bloodstream and reduce A1C levels.
The global short-acting insulin market report would provide an access to an approx. 53 market data table, 47 figures and 200 pages.
Global Short-Acting Insulin Market - By Drug
Global Short-Acting Insulin Market - By Distribution Channel
Global Short-Acting Insulin Market - By Region
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