Saudi Arabia Human Insulin Market to grow with a CAGR of 1.68%
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Saudi Arabia Human Insulin Market.
According
to TechSci Research report, “Saudi Arabia Human Insulin Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Saudi Arabia Human Insulin
Market has valued at USD 0.31 billion in 2022 and is anticipated to witness an
impressive growth in the forecast period with a CAGR of 1.68 % through
2028. This can be due to collaborations
and partnerships among leading companies with a diverse approach to merge the
expertise of individual companies and to strengthen their position in the
market.
The aging population is a significant driver
of the demand for human insulin and diabetes-related healthcare services. The
risk of developing diabetes increases with age. Type 2 diabetes is more common
in older adults. As the population ages, the prevalence of diabetes also rises,
leading to an increased demand for diabetes management, which often includes
insulin therapy. Many individuals who have diabetes develop the condition at a
younger age but live with it as they grow older. This results in a longer
duration of diabetes management, and in some cases, insulin becomes a necessary
part of their treatment regimen. A demographic shift toward an older population
is occurring in many countries, including Saudi Arabia. This shift is due to
increased life expectancy and decreased birth rates. The older population
represents a larger pool of potential diabetes patients. With age, individuals
with diabetes are at a higher risk of developing complications such as diabetic
retinopathy, neuropathy, cardiovascular diseases, and kidney problems. Managing
these complications often involves intensified diabetes treatment, which may
include insulin.
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"Saudi Arabia Human Insulin Market.”
In October 2022, Nawah Scientific, a prominent
provider of on-demand scientific services through its cloud lab, has officially
initiated its presence in the Kingdom of Saudi Arabia with a soft launch. The
company aims to establish a state-of-the-art mega lab, with investments
reaching into the millions of dollars, catering to the requirements of various
industries, including pharmaceuticals, food, agriculture, chemicals, and oil.
This expansion marks Nawah's second regional venture, following its entry into
Jordan in 2021. Nawah is introducing an innovative business model in the
region, empowering scientists with the capabilities of the digital age.
Supply
chain disruptions pose challenges in the Saudi Arabia Human Insulin Market, as
they do in many industries. Saudi Arabia may import a significant portion of
its insulin and related supplies. Disruptions in the global supply chain, such
as those seen during the COVID-19 pandemic, can affect the availability and
timely delivery of insulin products to the local market. Supply chain
disruptions can arise from transportation problems, including delays in
shipping and difficulties in transporting insulin products to distribution
points and healthcare facilities. These issues can affect product availability.
The manufacturing of insulin relies on specific raw materials and ingredients.
Disruptions in the supply of these materials, whether due to natural disasters,
trade disputes, or other factors, can lead to production delays and shortages.
Manufacturing plants producing insulin may face interruptions due to a variety
of factors, including equipment failures, natural disasters, or labor strikes.
These disruptions can limit the production of insulin. Insulin products are
sensitive to temperature variations. Supply chain disruptions that result in
improper storage or exposure to extreme temperatures can compromise the quality
and safety of insulin products. In response to quality or safety concerns,
insulin products may need to be recalled from the market. Such recalls disrupt
the supply chain and can lead to product shortages.
Saudi Arabia Human Insulin Market is segmented
based on Indication, Type, Products, Route of Administration, Onset Time, and
by region.
Based on the Onset Time, Saudi Arabia Human Insulin
Market is segmented into Rapid Acting, Short-Acting, Intermediate Acting, Long
Acting, Ultra-long Acting, Pre-Mixed, Inhaled. Long-acting human insulin is a
type of insulin medication designed to provide a steady and prolonged release
of insulin into the bloodstream over an extended period. It is primarily used
in the management of diabetes, specifically for maintaining baseline or
"basal" insulin levels between meals and during periods of fasting. Long-acting
insulin serves as a basal insulin, which means it is intended to provide a
consistent level of insulin in the body to keep blood sugar (glucose) levels
stable between meals and overnight when individuals are not eating. It helps
prevent excessive rises in blood sugar during these times. Long-acting insulin
is formulated to have a slow and steady release profile. It is designed to be
absorbed gradually into the bloodstream, offering extended coverage over an
extended duration. Long-acting insulin has a more prolonged duration of action,
typically lasting from 18 to 24 hours. Some formulations may provide even
longer coverage, up to 36 hours, depending on the specific product. Depending
on the specific type and brand of long-acting insulin, it may be administered
once daily or, in some cases, twice daily. The choice of dosing frequency is
determined by the individual's diabetes management plan, healthcare provider's
recommendations, and their unique insulin requirements.
Based on Region, Northern & Central region held the largest share in the Saudi Arabia
Human Insulin Market. Northern and Central regions may have a higher
concentration of healthcare professionals, including endocrinologists and
diabetologists, who play a crucial role in diabetes management and insulin
prescription. Government healthcare initiatives and policies may focus on these
regions to address healthcare challenges, including diabetes. Subsidies, access
to insulin, and diabetes management programs may be more readily available in
these areas. Pharmaceutical companies and healthcare providers may choose to
focus their marketing and distribution efforts in regions with higher
population density and healthcare infrastructure.
Some
of the major companies operating in the Saudi
Arabia Human Insulin Market include:
- Novo
Nordisk Saudi Arabia
- Sanofi
Saudi Arabia
- Baxter
International Saudi Arabia
- B
Braun Saudi Arabia
- Eli
Lilly, and Company Saudi Arabia
- Pfizer
Saudi Arabia
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“Certain areas, particularly in North
America, are projected to exert significant demand for Human Insulin. The
growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people
each year, are expected to contribute to a remarkable growth of the Saudi
Arabia Human Insulin Market in the forecast period," said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based Global
management consulting firm.
Saudi Arabia
Human Insulin Market by Indication (Type I Diabetes, Type Il Diabetes), By
Route of Administration (Subcutaneous, Nasal, Intravenous, Transdermal, Oral
and Others), By Type (Basal, Bolus, Pre-mixed, Biosimilar, Traditional), By
Onset Time (Rapid Acting, Short-Acting, Intermediate Acting, Long Acting,
Ultra-long Acting, Pre-Mixed, Inhaled), By Products (Insulin Pens, Insulin
Pumps, Infusion System, Injection), By
Region, By Competition Forecast
& Opportunities, 2018-2028F has
evaluated the future growth potential of Saudi Arabia Human Insulin Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Saudi Arabia Human Insulin Market.
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