[PDF] Insulin Market : Recent Breakthroughs And Future Prospects
Overview
The demand for insulin is rising in order to satisfy the treatment needs of the growing number of diabetes patients who rely on the drug. As a result, there is more rivalry among market competitors to produce new insulin medicines.
Insulin aids in the production of proteins, glycogenesis, and glycolysis, as well as the absorption of different ions. Insulin was formerly extracted from lambs and pigs, but now human insulin is produced using genetically modified bacterial cells. The current therapy depends on recombinant DNA technologies to generate commercial human insulin.
Drivers
During the forecast period, the global insulin market is projected to expand due to new product development and releases.
Oramed Pharmaceuticals created the first oral medication delivery device in May 2018, which boosts the liver’s endogenous insulin function. The U.S. Food and Drug Administration (FDA) is now conducting a phase II medical study for this injectable solution, which will provide a more efficient and safer means of administering insulin treatment to patients.
Sanofi Aventis also released Toujea in India in February 2018, a next-generation ambient insulin with once- or twice-daily administration that promotes glycemic control in people with type I and type II diabetes.
Increased investment in anti-diabetic medication research, development, and manufacturing is projected to enhance the global insulin market.
In the global insulin market, growing scientific research for the development of new diabetes treatment medications employing technologies such as administering insulin without a needle gives greater prospects for producers. The American Diabetes Association (ADA) has financed $807.4 million in nearly 4,700 diabetes research initiatives from 1952 to 2017.
The Juvenile Diabetes Research Foundation (JDRF) awarded Biocon Limited money in September 2017 to research the safety and efficacy of insulin Tregopil in diabetic patients. Insulin Tregopil is now being studied in India in a key Phase II/III trial in type 2 diabetic patients. With minimal side effects, this fast-acting insulin can enhance postprandial glucose management.
Furthermore, GeneSys Biologics Private Limited extended its study and production plant in India in September 2018 for the innovation of insulin and its analogues biosimilars, enabling its research and development unit to begin commercial production.
The global insulin market is also projected to benefit from the introduction of insulin pens by various producers. Julphar Gulf Pharmaceutical Industries, one of the leading pharmaceutical companies in the Middle East and Africa, partnered with Becton, Dickinson (BD) in August 2018 to offer portable diabetes needles in the United Arab Emirates (UAE), and they are now awaiting clearance and certification. Julphar’s human insulin compositions Jusline R, Jusline N, and Jusline 30/70 will be available as a result of this arrangement.
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Restraints
Rising insulin product costs, particularly medicines, and strict regulatory requirements for new medication clearance may stifle industry development. According to the research released by the Pharmaceutical Care Management Association (PCMA) in May 2018, the price of insulin has grown tenfold in the last few years. Costs for Humulin/ Novolin have risen from US$ 25 per medication in 1985 to about US$ 300 in 2016, as per the PCMA. Long-acting insulin costs have also risen, from approximately $100 per prescription in 2007 to around $400 in 2016. As a result, the rising expense of these insulin treatments is limiting the global insulin market’s growth.
Regional Insights
Due to the rising incidence of hypertension and the growing elderly population in this region, North America is projected to dominate the global insulin market in terms of market share. In 2017, over 100 million individuals in the U.S. were diagnosed with diabetes, as per the Centers for Disease Control and Prevention (CDC). Owing to enhanced knowledge of diabetes care, favorable government regulations, and increased R&D spending by larger firms, the Asia Pacific area is projected to expand at a faster rate.
Competitive Landscape
Major companies contributing in the global insulin market are Julphar Gulf Pharmaceutical Industries, Novo Nordisk A/ S, Eli Lilly and Company, Wockhardt, GlaxoSmithKline, Biocon Limited, and Sanofi S.A.
To maintain their position in the global insulin market, these firms are pursuing acquisitions, mergers, developments, partnerships, and new product releases. Novo Nordisk purchased Ziylo in August 2018 with the goal of developing smart, glucose-responsive insulin (GRIs) that provide adequate glucose management while lowering the risk of hypoglycemia.
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