Global and China Insulin Market: Snapshot
Diabetes affected the sugar level in the body, either by increasing or decreasing blood glucose level, leading to chronic and life threatening ailments in a long run. Now, insulin is an important hormone that secrets β cells in order to digest blood sugar. Owing to the prevalence of diseases and rise in number of people suffering from it, there is a significant demand for insulin in the global and China market. Especially, the requirements for long-acting and premixed insulin are growing because of increase in type 1 diabetes. The report also presents a details study of China market as well, along with the general global market. Several research centers and healthcare organizations are also working on to come up with a cost effective and more efficient solution to control the level of blood sugar, by providing the accurate dose of insulin.
According to a report the global and China insulin market is anticipated to demonstrate a competitive scenario with a strong CAGR of 6.1% within the forecast period 2013 to 2019. In year 2012 the market was evaluated to be worth US$ 19.99 bn. This figure is likely to be beaten by a whooping estimation of worth US$ 32.24 bn by the end of predicted time frame 2019.
Geriatric Population and Prevalence of Type 1 Diabetes to Boost the Demand in China and Global Market
As per the studies by World Health Organization, around 150 mn people suffered from diabetes mellitus, all across the globe. This statistic also contributes in the rise in demand for insulin in global and China market. Moreover, the WHO also reported the rise in number of geriatric population, along with genetic disposition, and prevailing change in lifestyle also acts as a driving force in surging the market growth. In China, the insulin industry is growing due to prevalence of rising cases of type 2 diabetes, which desperately need insulin doses to keep a check and control over their blood sugar level. Additionally, there is a significant rise in the changed in food habits, enhanced infrastructure, change in lifestyle, and growing consumption of fast food. All these factors lead to the growth of insulin market in China, and all over the globe. China ha become the largest market for insulin market due to highest number of people suffering from diabetes in that region.
Premixed Insulin Segment to Experience a Growth Owing to Rising Diabetic Population in China
The global and China insulin market is divided mainly on the basis of source and action. Mode of action segment is further segmented into rapid-acting, long-acting, intermediate-acting, short-acting, and premixed mode of action. Premixed mode of action and long-lasting mode are the most prevalent ones in China owing to its soaring diabetic population. Moreover, the long-lasting mode is anticipated to grow with a steady CAGR of 8.70% within the predicted time frame. The main reason for this mode to be so favorable and preferred worldwide is due to the fact that even a small amount of it is enough to maintain the balance of blood sugar level. Along with that, this mode of action has a comparatively low pricing and relaxed regulations. They are also available in a variety of range of products that is likely to augment the growth of insulin in China and global market. Apart this, the source segment is divided further into human source and modern source. The rapid-acting insulin segment secured second place in 2012 in the global insulin market. The premixed insulin segment also held 50% of the entire market share in that year. However, the short-acting mode and intermediate-acting mode are anticipated to experience a downfall in forecast period, due to change in preference and improper research and development in support. Eli Lilly and Company, Novo Nordisk A/S, and Sanofi are some of the key players in the market.
According to recently published data by the WHO, there are about 150 mn people with diabetes mellitus across the world. The organization attributes this alarming figure to the rising ageing population, genetic predispositions, and growing prevalence of a sedentary lifestyles. If these factors continue to have a steady impact, the current figure is expected to double by 2025.
The expert industry analysts have suggested that the growing population suffering from type 1 diabetes and increasing usage or prescription of insulin for diabetics are the two main factors bolstering the global and China insulin market. In addition, the growth of the insulin market will also be augmented as lifestyles change, medical infrastructures improve, and dietary habits shift towards fast food, becoming the precursor for diabetes in many cases, around the world. The research report analyzes the market with the help of SWOT analysis and Porter’s five forces analysis. With the former, it sheds light on the strengths, weaknesses, opportunities, and threats of the market, while the latter is used for determining the threat of new entrants, threat of substitute products or services, bargaining power of customers (buyers), bargaining power of suppliers, and intensity of competitive rivalry.
The research report states that the global and China insulin market is expected to grow at a CAGR of 6.10% between 2013 and 2019 to reach US$32.2 bn by the end of 2019, from US$19.9 bn in 2012. The global and China insulin market is segmented on the basis of mode of action and source. The modes of action seen in the insulin market are rapid-acting, long-acting, short-acting, intermediate-acting, and premixed. On the other hand, the sources of insulin are human insulin and modern insulin.
Amongst the types of insulin, the long-lasting insulin segment is expected to grow at a CAGR of 8.70% in the forecast period. This mode of action for managing sugar levels will be popular amongst insulin-dependent diabetics, as only a small dosage is required to bring down blood glucose. Additionally, relatively relaxed regulations regarding the pricing of long-lasting insulin and availability of a wide range of products will also foster the growth of this segment in the overall insulin market.
In 2012, the rapid-acting insulin segment was at the second position in the overall market. In the same period, the premixed insulin segment held a market share of over 50% in the global and China insulin market. In the foreseeable future, intermediate-acting and short-acting insulin are expected to lose ground, as diabetics are shifting preferences and neither of these types of insulin are supported by adequate research and development channels.
Companies Mentioned in the Global and China Insulin Market are:
Some of the important players in the global and China insulin market are Novo Nordisk A/S, Sanofi, and Eli Lilly and Company.
Global and China insulin market is segmented on the basis of geography as follows:
- North America
- Asia Pacific
- Rest of the World (RoW)
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments