- The Asia Pacific insulin market is projected to attain revenue worth USD 15.04 billion by 2020. It had an optimal value of USD 4.8 billion in 2013. It has an expected growth rate of more than 17% from 2014 to 2020 (forecast phase). Diabetes and obesity are two major factors that will drive the market demand over the forecast phase. The International Diabetes Federation has intimated that the number of diabetic patients will rise to 552 million by 2030. To treat this global pandemic, insulin shots need to be administered on a timely basis.
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Asia Pacific is a developing region which consists of mostly middle class families. The large population makes it a challenge for the medicine to be distributed uniformly. But a strong and consistent product pipeline with proper commercialization can provide an opportunity for the market. Branded products like Tresiba and Lantus are responsible for high penetration of the insulin market in this region.
The major products in the Asia Pacific insulin market are rapid acting analog, premixed insulin, premixed analog, long acting analog, short acting insulin, and intermediate insulin. Long acting analog had the largest revenue in 2013. It was estimated to be worth USD 2 billion. Rapid acting analog had the second largest revenue due to the developed markets of Japan and Australia.
Insulin products have 2 sources, namely human recombinant and analogs. Analog-sourced insulin accounted for 80% of the market revenue and had a value of USD 3.4 billion in 2013.
Insulin products have applications in the form of Type I and Type II diabetes. Out of the two, the former had an 85% market share in 2013. This can be attributed to new drugs and the high amounts of insulin needed to treat the disease.
The countries studied for this market report are India, China, Japan, Australia, New Zealand, Taiwan, South Korea, Thailand, Malaysia, Indonesia, Vietnam, and the Philippines. Japan had a 38% market share in 2013 on account of branded products being consumed at a high rate. China has an expected 21.1% growth rate over the forecast phase on account of affordable healthcare prices in the region.
The majority of the Asia Pacific insulin market is controlled by the trio of Sanofi Aventis, Noridsk, and Eli Lilly. They are attempting to collaborate their research and development goals and manufacture insulin products that show better and improved results.
Information Source: Grand View Research
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