Driven by the Asia-Pacific region
The expiry of biologic human insulin market drugs' patents are set to create new opportunities for biosimilar drugs, which is estimated to grow at a CAGR of 35% from 2014–2019, says a new report from Reportsnreports.com.
The report, Human Insulin Market by Product Type (Human Insulin (Short Acting, Intermediate Acting, Premixed), Modern Human Insulin (Rapid Acting, Long Acting, Premixed), by Brand (Lantus, Apidra, Levemir, NovoRapid, Novomix, Tresiba, Others) – Forecast to 2018, says the Asia-Pacific region is the fastest growing market for human insulin production, development, and distribution and Asia-Pacific countries are therefore considered to be a lucrative market for those investing in manufacturing and clinical activities of pipeline and existing human insulin products.
Major players will enter the Asian market with the purpose of collaborating with various CMOs and CROs in the region, which is expected to foster the development of human insulin at lower cost compared with other regions across the globe, the report says.
The demand for human insulin will also grow in the next five years due to the high prevalence of diabetes, as well as the low price of human insulin, according to the report.
Countries such as China, India, Japan and Korea will also offer potential growth opportunities to the human insulin market.
Of all the countries, China is estimated to be the fastest growing market for human insulin. Saudi Arabia, Qatar, Egypt, U.A.E, and Brazil will also emerge as lucrative markets, the report says.
Pen needles are expected to be a major revenue earner in coming years
Modern human insulin accounted for the largest share – 84% – of global human insulin market. Premixed modern human insulin and long acting human insulin are forecast to grow at a brisk pace over the next five years. The high growth in these segments can be attributed to the growing demand of Apidra, Lantus, and Levemir, the report says. Furthermore, these drugs reported high efficiency and effectiveness when compared with other synthetic insulin, animal insulin, and other human insulin.
New technologies such as safety pen needles and infusion pumps have emerged as efficient modes of delivery for human insulin. Pen needles are expected to be a major revenue earner in coming years because they offer significant benefits – they are easy to attach, remove and dispose of, thus they are easy to use for patients with manual dexterity problems or visual impairment. Diabetes educators and clinicians across the world recommend the usage of needles with shorter lengths and higher gauge sizes for convenience and to minimise pain. Owing to these factors, technological advancement is expected to be a major revenue pocket for the human insulin market in the coming years, the report says.
Companies profiled in the report include Novo Nordisk, Eli Lilly, Sanofi Aventis, Biocon and Julphar Pharmaceuticals. Brands such as Lantus, Apidra, Levemir, NovoRapid, Novomix, Tresiba and others are also discussed.