The demand for insulin is rising in order to satisfy the treatment needs of the growing number of diabetes patients who rely on the drug. As a result, there is more rivalry among market competitors to produce new insulin medicines.
Insulin aids in the production of proteins, glycogenesis, and glycolysis, as well as the absorption of different ions. Insulin was formerly extracted from lambs and pigs, but now human insulin is produced using genetically modified bacterial cells. The current therapy depends on recombinant DNA technologies to generate commercial human insulin.
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Major Company Profiles Covered in This Report: Eli Lilly and Company, Novo Nordisk A/ S, Julphar Gulf Pharmaceutical Industries, Sanofi S.A., Biocon Limited, GlaxoSmithKline, and Wockhardt.
During the forecast period, the global insulin market is projected to expand due to new product development and releases.
Oramed Pharmaceuticals created the first oral medication delivery device in May 2018, which boosts the liver’s endogenous insulin function. The U.S. Food and Drug Administration (FDA) is now conducting a phase II medical study for this injectable solution, which will provide a more efficient and safer means of administering insulin treatment to patients.
Sanofi Aventis also released Toujea in India in February 2018, a next-generation ambient insulin with once- or twice-daily administration that promotes glycemic control in people with type I and type II diabetes.
Increased investment in anti-diabetic medication research, development, and manufacturing is projected to enhance the global insulin market.
In the global insulin market, growing scientific research for the development of new diabetes treatment medications employing technologies such as administering insulin without a needle gives greater prospects for producers. The American Diabetes Association (ADA) has financed $807.4 million in nearly 4,700 diabetes research initiatives from 1952 to 2017.
The Juvenile Diabetes Research Foundation (JDRF) awarded Biocon Limited money in September 2017 to research the safety and efficacy of insulin Tregopil in diabetic patients. Insulin Tregopil is now being studied in India in a key Phase II/III trial in type 2 diabetic patients. With minimal side effects, this fast-acting insulin can enhance postprandial glucose management.
Furthermore, GeneSys Biologics Private Limited extended its study and production plant in India in September 2018 for the innovation of insulin and its analogues biosimilars, enabling its research and development unit to begin commercial production.
The global insulin market is also projected to benefit from the introduction of insulin pens by various producers. Julphar Gulf Pharmaceutical Industries, one of the leading pharmaceutical companies in the Middle East and Africa, partnered with Becton, Dickinson (BD) in August 2018 to offer portable diabetes needles in the United Arab Emirates (UAE), and they are now awaiting clearance and certification. Julphar’s human insulin compositions Jusline R, Jusline N, and Jusline 30/70 will be available as a result of this arrangement.
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