Global Insulin Market Is Set For A Rapid Growth And Is Expected To Reach USD 39.24 Billion By 2024

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The report "Global Insulin Market”: - By Product Type (Drugs, and Delivery Devices); By Type (Insulin Analogs and Biosimilars, and Biologics); By Delivery Devices (Syringes, Pens, and Pen Needles); By Application (Type I Diabetes, and Type II Diabetes); & By Geography (North America, Europe, Asia-Pacific, South America, Middle East & Africa) - Forecast (2018-2024). Envision Intelligence estimates that Global Insulin market size is projected to reach with $39.24 Billion by the end of 2024 with a CAGR of 8.3% from $27.3 Billion in 2017. Insulin is a hormone secreted by the pancreas that allows the body to use sugar from carbohydrates in the food that you eat for energy or to store glucose for future use. It helps in keeping your blood sugar level from getting too high or too low. The cells in your body need sugar for energy. However, sugar cannot go into most of your cells directly. After you eat food and your blood sugar level rises, cells in your pancreas are signaled to release insulin into your bloodstream. Insulin then attaches to and signals cells to absorb sugar from the bloodstream. Download Free Sample Brochure at https://www.envisioninteligence.com/industry-report/global-insulin-market/ Drugs segment is expected to have largest market size during the forecast period Drugs segment is projected to dominate the global insulin market size because of its excess demand, rising proportion of the aging population in developed countries, growing research & development for drug discovery & development, increasing market accessibility of generic products worldwide, and rising government initiatives. According to Global Insulin Market Analysis, Biosimilars segment is expected to have largest market share during the forecast period Biosimilars drugs are projected to hold for the largest global Insulin market share during the forecast period. The demand for biosimilar drugs is strong in both developed and developing countries due to its low-cost therapy and this is driven by the need for the best valuable treatment, which can often be expensive. The development of biosimilars is a booming trend in global human insulin market and Wockhardt and Biocon have launched their biosimilars products in Asia-Pacific region. Pens segment is expected to have largest market share during the forecast period Pens segment is projected to account for the largest market share in the global insulin pumps market followed by syringe and pen needle and this growth can be affirmed because of growing market focus of pen manufacturers on emerging countries such as China, India, and Brazil. Insulin pens looks similar to oversized ink pens, making them a potentially convenient and discreet way of carrying insulin which makes them one of the demanding factors over the other market. North America is projected to hold the largest share in the market during the forecast period. From the Insulin Market analysis, North America holds the largest market share and is expected to maintain its dominant position during the forecast period. According to the Pan American Health Organization in 2015, health expenditures for diabetes in the North America has increased over the years as the cost of healthcare for people affected by diabetes is high. This will lead to the usage of insulin delivery devices at higher rates among type-1 diabetes population. Novo Nordisk is expected to continue to benefit from the positive global insulin trends in the market and pose strong competition to other diabetes care players such as GlaxoSmithKline (GSK), Eli Lilly (LLY), and Sanofi (SNY). Insulin Market Players in the market include: Braun Melsungen AG Becton, Dickinson and Company Eli Lilly and Company NOVO Nordisk A/S Sanofi