Global insulin market set to reach $32.24 billion in 2019

The global insulin market was valued at $19.99 billion in 2012 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2013 to 2019 to reach $32.24 billion in 2019.

Rising prevalence of diabetes is one of the serious health care concerns on a global level, according to a new report published by Transparency Market Research, titled Global and China Insulin Market (Rapid-Acting, Short-Acting, Intermediate-Acting, Long-Acting, Premixed, Modern and Human Insulin) - Industry Analysis, Size, Share, Growth, Trends and Forecast (Value and Volume), 2013 – 2019.

However, in diabetes, it is either not possible for the body to secrete insulin (type-1) or to utilize secreted insulin to metabolize glucose (type-2). Insulin deficiency in diabetic patients is the most important factor driving the insulin market globally. Rising prevalence of diabetes and extensive R&D activities are the other key factors boosting growth in the insulin market. No permanent cure has been invented for diabetes, thus the evolution of insulin therapy has emerged as an indispensible treatment therapy for type-1 diabetes patients.