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| Report Code: A12332 | Nov 2023 | Pages: NA | ||
| Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Human Insulin Drugs And Delivery Devices Market
Request Now !Insulin is a protein hormone that helps control the blood sugar level in patients whose bodies cannot produce enough insulin. Insulin lowers the glucose level in the blood by increasing glucose uptake into fatty tissues and muscles. It can be injected into the legs, back of arms, abdomen, or buttocks. In addition, insulin not only helps manage diabetes but also helps acute complications of diabetes such as hyperosmolar hyperglycemic states and diabetic ketoacidosis. The devices that help deliver insulin in the patient's body include insulin syringes, insulin pumps, insulin pens, insulin inhalers, and insulin jet injectors.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in December, 2019. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since its outbreak, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19.
With COVID-19, the supply chain of the raw materials required to manufacture human insulin drugs and delivery devices has been disrupted in many countries. In addition, the market growth of human insulin drugs and delivery devicesis also declining as the manufacturers of these drugs and devices have slowed down their production because of the pandemic. Therefore, COVID 19 is expected to have a significant impact on human insulin drugs and delivery devices market.
Top Impacting Factors
Rise in prevalence of type 2 diabetes cases all across the world is a factor acting as a driver for the growth of the human insulin drugs and delivery devices market..
In addition, the advancements in insulin devices design along with favorable reimbursements in healthcare systems all across the world is also acting as a driver for the human insulin drugs and delivery devices market.
With a sedentary lifestyle, people are more prone to develop diabetes these days. Therefore, changing lifestyle is also helping in propelling the market of human insulin drugs and delivery devices.
However, the high cost associated with the manufacturing of insulin drugs and delivery devices is acting as a restraint for the market. Furthermore, approval of novel delivery device for human insulin is also difficult due to the presence of stringent regulations for the launch of medical devices.
Key Market Trends
In 2018, Novo Nordisk A/S acquired Ziylo, Inc. This acquisition helped strengthen and expand the market for Novo Nordisk’s insulin delivery system as Ziylo offered its glucose binding molecular platform to Novo Nordisk. This platform helped develop glucose-responsive insulins.
In 2018, CeQur SA purchased Calibra, a product from Johnson Services, Inc. Calibra is an insulin delivery wearable that matches and integrates with CeQur SA’s demand and product portfolio for developing something similar.
In North America, the U.S. dominates the human insulin drugs and delivery devices market owing to the rise in number of cases of type 2 diabetes. Diabetes ranks among one of the fast-growing chronic diseases in the U.S. due to the prevalence of obesity in the country’s population.
In Asia-Pacific, India is one of the leading markets for human insulin drugs and delivery devices. This can be attributed to the changing lifestyle of people and unhealthy dietary habits.
Key Benefits of the Report
Questions Answered in the Human Insulin Drugs and Delivery Devices Report
Human Insulin Drugs and Delivery Devices Market Report Highlights
| Aspects | Details |
|---|---|
| By Product Type |
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| By Drug |
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| By Delivery Devices |
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| By Application |
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| By Region |
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| Key Market Players | AstraZeneca, Merck and Co. Inc., Takeda Pharmaceutical Company Limited, Sanofi, B. Braun Melsungen AG, Novo Nordisk A/S, Eli Lilly and Company, Novartis AG,, Johnson and Johnson Services Inc., Bayer AG |
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