In the recent times, there has been a steep rise in the sales of human insulin
, primarily because of the growing incidence of diabetes all around the world. According to many surveys, the number of diabetic patients has grown from 108 million to 422 million from 1980 to 2014 and is predicted to increase to 592 million in 2035. This drastic growth in the population of diabetic people will massively push up the demand for human insulin in the future.
As per the International Diabetes Federation (IDF), 425 million people in the age bracket 20-79 years were diagnosed with diabetes in 2017 and this number is predicted to rise to 629 million in 2045. The growing prevalence of diabetes is not just restricted among the people living in the developed countries but also increasing rapidly among the populace of the developing nations. A key factor responsible for the growing prevalence of diabetes is the soaring geriatric population in many countries.
This is because with increasing age, the insulin-producing ability of the human body starts decreasing and as a result, the body loses its glucose synthesizing ability. According to findings of the Centers for Disease Control and Prevention (CDC), a national public health organization in the U.S., almost 25% of the people in the country in the age bracket 65 years and above have diabetes. This means that almost 12 million seniors in the U.S. are diabetic.
Apart from the surging geriatric population, rapid technological advancements in insulin delivery devices are also positively impacting the global demand for human insulin. These factors are subsequently causing expansion of the global human insulin (HI) market. Between the HI delivery devices and drugs, the sales of the human insulin drugs were found to be significantly high in the years gone by, mainly because of the high incidence of diabetes and the presence of a large geriatric population in several countries.
Human insulin drugs are heavily required for the treatment and management of gestational diabetes and prediabetes and type I and type II diabetes. Amongst these diseases, the prevalence of type II diabetes was considerably high all over the globe during the past few years, as per the findings of P&S Intelligence, a market research firm based in India. As a result, human insulin products were heavily required for the treatment and management of this disease in the last few years.
Geographically, the human insulin market is predicted to exhibit explosive growth in the Asia-Pacific (APAC) region in the forthcoming years, on account of the rising incidence of diabetes, growing adoption of sedentary lifestyles, unhealthy eating habits of people, and increasing geriatric population in the regional countries such as India and China. Additionally, the human insulin device producing companies are rapidly expanding their operations in the APAC countries, which is, in turn, boosting the sales of human insulin in the region.
Therefore, it is quite clear that the demand for human insulin will rise enormously throughout the world in the forthcoming years, due to the rising incidence of diabetes, increasing geriatric population, and the development of technologically advanced human insulin delivery devices in several countries across the world.