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rapid-acting-insulin-market-A10599
PORTLAND, HI, UNITED STATES, December 5, 2024 /EINPresswire / -- Rapid acting insulin is one of the fastest acting insulin that starts working within 15 minutes of its introduction. Action of this insulin is supposed to last for 5 hours. These analogs are frequently chosen over regular insulin due to their faster response, which allows
diabetes patients to take it intravenously before any meal. It is usually taken post meals as it functions like natural insulin by reducing the risk of low blood glucose. Some of the rapid acting insulin available in the market are Humalog, Fiasp, NovoRapid, Apidra and others. Rapid acting insulin is usually preferred in pumps that deliver small amounts of insulin into the body every few minutes.
Global rapid acting insulin industry was accounted for $7.10 billion in 2019, and is estimated to reach $8.92 billion by 2027, growing at a CAGR of 4.1% from 2020 to 2027.
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Furthermore, most of the markets have observed decrease due to the lockout situation declared by governments of various countries. According to several statistics from around the global scientific community, it is observed that there has been a direct proportionality in the increase of COVID-19 in type 2 diabetes (T2D) patients. In addition, viral infections are commonly known to be associated with the development & progression of pancreatic autoantibodies. The complications caused due to coronavirus on the development of diabetes include pneumonia, diabetic ketoacidosis, dehydration, and high blood sugar.
Rise in prevalence of diabetes worldwide is the major factor that contributes toward growth of the rapid acting insulin market. Furthermore, sedentary & unhealthy lifestyles increase the risk of diabetes, because of overweight or obesity, an unhealthy diet and physical inactivity, which account for about 80% of the increase in prevalence of diabetes. Moreover, increase in investment in research and development (R&D) for human recombinant insulin is expected to drive the need for insulin used in management of diabetes thereby boosting the growth of the market. In addition increase in government expenditure on healthcare also propel the market growth. However, the reluctance in adoption of rapid acting insulin due to the side effect, such as hypoglycemia, may hinder the growth of the industry. Conversely, untapped market and undiagnosed population in developing regions are expected to provide lucrative growth opportunities for the rapid acting insulin market growth.
The online providers segment to manifest the highest CAGR through 2027:
By distribution channel, the online providers segment is projected to portray the highest CAGR of 6.9% from 2020 to 2027. However, the drug store & retail pharmacies segment held the largest share in 2019, contributing to nearly two-thirds of the global rapid acting insulin market, owing to availability of rapid acting insulin in drug store & retail pharmacy stores.
North America held the largest share:
By region, the market across North America held the largest share in 2019, contributing to nearly half of the market, due to rise in incidences of diabetes, high number of geriatric population, and favorable government policies. However, the global rapid acting insulin market across Asia-Pacific is estimated to register the highest CAGR of 5.8% during the forecast period, owing to westernized lifestyle behaviors and the increased prevalence of obesity.
Major market players:
Biocon Limited
ADOCIA SAS
Gan & Lee Pharmaceuticals
Eli Lilly and Company
Mannkind Corporation
Geropharm LLC
Sanofi S.A.
Novo Nordisk A/S
Wockhadt Ltd.
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The insulin lispro segment held the lion's share:
By product type, the insulin lispro segment held the largest share in 2019, accounting for nearly half of the global rapid acting insulin market. In addition, the segment is estimated to register the highest CAGR of 4.5% during the forecast period, due to better advantages posed by the product, which include faster subcutaneous absorption, earlier & greater insulin peak, and shorter duration of action as compared to other types.
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Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.