Human Recombinant Insulin Market – Analysis and Forecast To 2024 | Novo Nordisk A/S, Biocon Limited, Sanofi S.A.

Human recombinant insulin is the synthetic insulin, resulted utilizing recombinant DNA technology. The global human recombinant insulin market is growing at significant rate, due to mounting occurrence diabetes and mounting need for human insulin analogs. Different product type contributed to the human recombinant insulin market size. The market has witnessed high demand for long acting human insulin in the coming years due to advanced competence and capability to pose constant insulin delivery during the day.

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Elevated product manufacturing cost and strict regulatory requirement for the sanction of the products are the major challenges for the growth of human recombinant insulin market.

Globally, the manufacturing companies trying to enter the human recombinant insulin market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.

Asia-Pacific is observed to witness fastest growth in the market, due to mounting number of diabetic patients. In addition, mounting healthcare expenditure, developing regulatory skeleton for promoting approvals & medical repayments, reinforcing distribution networks of product manufacturers and expanding awareness about diabetes are also creating a positive impact on the human recombinant insulin market growth in the region.

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Key players in the human recombinant insulin market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In August 2018, Novo Nordisk A/S acquired Ziylo, to accelerate development of glucose responsive insulin for therapeutic and diagnostic applications. Novo Nordisk A/S, Biocon Limited, Sanofi S.A., Wanbang Biopharmaceuticals Co., Ltd., Bioton S.A., Eli Lilly and Company, Zhuhai United Laboratories Co., Ltd., Julphar Gulf Pharmaceutical Industries, Dongbao Enterprise Group Co., Ltd, and Gan & Lee Pharmaceuticals, Ltd. are the key players offering human recombinant insulin products.

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