Market Size of Asia - Pacific Human Insulin Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.48 Billion |
| Market Size (2029) | USD 8.48 Billion |
| CAGR (2024 - 2029) | 2.54 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Human Insulin Market Analysis
The Asia - Pacific Human Insulin Market size is estimated at USD 7.29 billion in 2023, and is expected to reach USD 8.27 billion by 2028, growing at a CAGR of 2.54% during the forecast period (2023-2028).
During the COVID-19 crisis, the Asia-Pacific diabetes market saw a gradual growth in demand for diabetic medications. According to a 2021 BeatO research on 800 participants, patients with COVID-19 and pre-existing diabetes suffered blood glucose level changes, resulting in a significant need for advanced diabetic medicines. To mitigate the disastrous impact of COVID-19, Novo Nordisk established a new social responsibility plan to combat diabetes, intending to provide patients in every nation with access to affordable diabetic care.
Diabetes patients, particularly those with Type 2 diabetes, have increased rapidly in Asian nations during the last few decades. Developing nations account for more than 70% of the worldwide diabetes population. The Asia-Pacific region is expected to develop significantly due to an aging population and rising diabetes prevalence, mostly due to increased stress, sedentary lifestyles, smoking, and excessive alcohol intake, which raises the body's sugar levels. Furthermore, the region's production base of key anti-diabetic medicine businesses aided market expansion. However, one of the primary constraining factors for the industry is the rising cost of pharmaceuticals.
The genetic factor is one of the primary reasons for the rapid spread of the disease. Sedentary lifestyles and obesity are the other factors responsible for the high prevalence of the disease. Although insulin has been used for treating diabetes for over 90 years, more than half of those who need insulin today still cannot afford and access it due to the high cost of the product.
