Home Press Releases Global Insulin Market to Reach US$32.24 Billion in 2019 due to Growing Research and Development Activities
Global Insulin Market to Reach US$32.24 Billion in 2019 due to Growing Research and Development Activities
A new Transparency Market Research report states that the global and China insulin market was estimated at US$19.99 billion in 2012 and is predicted to reach an approximate value of US$32.24 billion in 2019, expanding at a CAGR of 6.1% between 2013 and 2019. The title of the report is “Global and China Insulin Market - Industry Analysis, Size, Share, Growth, Trends and Forecast (Value and Volume) 2013 - 2019”.
As per the report, the increasing occurrence of diabetes and growing research and development activities have also fuelled the market. With the help of this report, the present scenario and the future market prospects have been elaborated. In addition, the insulin market within China is evaluated and studied in detail.
According to the report, the rise in the population having type 1 diabetes and the increasing inclination to use insulin for treating diabetes are amongst the major factors fuelling the development of the Chinese insulin market. Furthermore, the changing lifestyles, enhanced medical infrastructure, changes in dietary habits, and growing inclination towards fast food are also augmenting the growth of the insulin market in china.
The global market for insulin in segmented on the basis of two criteria: mode of action and source. In terms of mode of action, the global and China insulin market is segmented into short-acting, rapid-acting, long-lasting, intermediate-acting, and premixed insulin derivatives. In terms of source, the global and China insulin market is segmented into modern insulin and human insulin. The modern insulin market is anticipated to expand in the forecast horizon between 2013 and 2019.
In terms of mode of action, long-lasting insulin derivatives stood as the most swiftly developing segment and are growing at an 8.7% CAGR in the forecast horizon. Long-lasting insulin derivatives are being highly demanded owing to their advantages such as the need for smaller doses of insulin when compared with other derivatives. Furthermore, factors such as the absence of strict regulations pertaining to price capping and a robust pipeline are also predicted to stimulate the growth of this market.
The rapid-acting insulin segment followed long-lasting insulin derivatives and stood as the second biggest segment in 2012. In the same year, the premixed insulin derivatives held a market share of over 50% in the China. However, premixed insulin derivatives, along with the other two segments, namely intermediate-acting and short acting insulin derivatives, are predicted to lose their market share in the forecast period. The reasons behind these segments losing their market share include the absence of research and development and the shift in patient preference within these segments.
Sanofi, Novo Nordisk A/S, and Eli Lilly and Company are amongst the top players in the global and China insulin market.
Browse the full Global and China Insulin Market (Rapid-Acting, Short-Acting, Intermediate-Acting, Long-Acting, Premixed, Modern and Human Insulin) - Industry Analysis, Size, Share, Growth, Trends and Forecast (Value and Volume) 2013 - 2019 report at http://www.transparencymarketresearch.com/insulin-market.html
The global and China insulin market is segmented as follows:
- Global and China Insulin Market, by Mode of Action
- Global and China Insulin Market, by Source
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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