Asia Pacific is the fastest growing region for insulin market owing to increasing prevalence of diabetes in India and China country is propelling the growth of insulin market. Approximately, 114 million in China and 72 million in India suffered from diabetes. Furthermore, increasing prevalence of Type 2 is supporting the growth of the insulin market in future. Type 2 diabetes accounts for 90-95 % of total diabetes population is supporting the growth of the market.
The global insulin market is segmented into product type, delivery devices, and application.
On the basis of product type, the market is segmented by short-acting human insulin, intermediate-acting human insulin, premixed human insulin, fast-acting human insulin, and long-acting human insulin. Short-acting human insulin is expected to lead in the coming year.
Based on the delivery system the market is segmented by syringes, pens, pens needles and pumps.
On the basis of application, the market is segmented by type II diabetes, type I diabetes, gestational diabetes and pre-diabetes.
Depending upon the geographical analysis, the insulin market includes major four regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA).
North America is witnessing significant growth in the global insulin market. This is attributed to, increasing prevalence of type 2 diabetes. Growing geriatric population, rising mental pressure, and stress are also responsible to cause diabetes.
Europe is expected to hold major market share of insulin market. More than 400 people every day suffer from diabetes is driving the growth of the insulin market. Increasing population of obesity is major causes of prevalence of diabetes.
Asia Pacific is expected to be the fastest growing market for Insulin market. This is attributed to increasing cases of chronic diseases. Apart from this increasing prevalence of diabetes in adult and children’s also supporting the growth of the market.
LAMEA is expected to witness considerable growth in the market during the forecast period. The significant growth is attributed to increasing prevalence of diabetes. However, growing urbanization, improving healthcare infrastructure, and high disposable income in the Middle East are expected to increase the demand in future.
Some of the prominent players in the insulin market include Eli Lilly, Novo Nordisk, Biocon, Sanofi Aventis, Wockhardt, Julphar, GSK, and SemBioSys.