Transparency Market Research has published a new report on the rapid medical diagnostics kits market that discusses its position in the global setting. The research report, titled “Global and China Insulin Market – Industry Analysis, Size, Share, Growth, 2013 – 2019,” offers an evaluation of the market in a political, economic, social, technological, legal, and environmental context. The report has also used a SWOT analysis and Porter’s five forces analysis to determine the factors governing the trajectory of this market in the near future.
According to research report, the global and China insulin market stood at US$19.99 bn in 2012 and is expected to reach US$32.24 bn by 2019, registering a CAGR of 6.1% between 2013 and 2019. The positive growth in the valuation of the global and China insulin market will be mainly due to the increasing incidence of diabetes and rise in the research and development of insulin across the globe.
The Chinese insulin industry is growing steadily as the type 1 diabetic population that needs insulin to manage the condition continues to grow. The proliferation of this market in China is also attributable to the improving medical infrastructure, changing lifestyles, drastic changes in dietary habits, and increasing preference for fast food.
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The global and China insulin market has been segmented on the basis of mode of action and source. Depending on the mode of action, the types of insulin in the market are long-acting, short-acting, rapid-acting, intermediate-acting, and premixed. The sources of insulin are differentiated into human and modern.
The long-acting insulin segment is expected to register a CAGR of 8.7% in the forecast period. This rise in the earnings of the long-acting insulin segment will be mainly be due its advantage of a smaller dosage offering better results as compared to the other types of insulin. The growth of this segment will also be supported by the lack of price restrictions for long-lasting insulin and a strong pipeline of products in the market. The success of long-acting insulin was closely followed by the rapid-acting insulin segment in 2012. In the same year, the premixed insulin segment held a share of more than 50% in the China insulin market.