In 2017, the ****** human insulin (HI) market attained a value of $42.9 billion and is expected to advance at an 8.8% CAGR during the forecast period (2018–2023). The market is registering growth due to the surging geriatric population, rising exposure of people toward key risk factors resulting to diabetes, and increase in the number of diabetic patients. A type of synthetic insulin which mimics the insulin in humans is referred to as human insulin. Human insulin is generally created by growing insulin protein in bacteria, E. coli.
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When application is taken into consideration, the human insulin market is categorized into gestational diabetes and prediabetes, type I diabetes, and type II diabetes. Out of these, the type II diabetes category accounted for the largest revenue share of the market during the historical period and is predicted to dominate the market during the forecast period as well. Geographically, the market was dominated by North America during the historical period because of the rising healthcare expenditure, presence of key players, and growing R&D activities for the development of biosimilars in the region.
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A major driving factor of the human insulin market is the rise in number of diabetic patients around the world. The number of people suffering from diabetes rose from 108 million in 1980 to 422 million in 2014, and this is number is further expected to reach 592 million by 2035. This surge in the number of diabetic patients is not limited to just developed countries but developing countries as well. According to the International Diabetes Federation, the number of diabetic patients in India will reach up to 123