Dublin, July 26, 2022 (GLOBE NEWSWIRE) -- The "Saudi Arabia Human Insulin Market, By Indication (Type I Diabetes, Type II Diabetes), By Route of Administration (Subcutaneous, Nasal, Intravenous, Transdermal, Oral and Others), By Type, By Onset Time, By Products, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia Human Insulin market is projected to register a robust growth during the forecast period
The growth can be attributed to the rising number of patients suffering from diabetes and growing research & development activities for drug discovery. Insulin is used to manage blood sugar levels in the body and thus reduce the symptoms of diabetes and vascular complications.
According to the World Health Organization statistics, Saudi Arabia ranks seventh in the rate of diabetes. The estimates show that 7 million of the country's population are diabetic while 3 million have pre-diabetic conditions. Increasing awareness of diabetes and advancing healthcare facilities providing treatment for chronic disorders are also propelling the growth of Saudi Arabia human insulin market.
The risk of diabetes is likely to increase with growing age, and currently around 25% adults over 60 years suffer from diabetes. Thus, increasing prevalence of geriatric population is also anticipated to fuel the growth of Saudi Arabia human insulin market in the coming years.
Allocation of huge funds for the healthcare, launch of new programs to educate people about diabetics by the government, and technological advancements in the field of human insulin delivery devices are likely to drive the growth of Saudi Arabia human insulin market.
However, stringent regulatory requirements for the product approvals as well high manufacturing costs could restrain the growth of Saudi Arabia human insulin market. Besides, the key players are making huge investments to devise effective ways to use insulin and minimize the side-effects, which is expected to contribute to the growth of Saudi Arabia human insulin market.
The insulin pens segment is anticipated to dominate the Saudi Arabia human insulin market due to significant reimbursements offered for human insulin pens and their continuous pipeline development & product commercialization.
Companies involved in the Saudi Arabia human insulin market are adopting competitive strategies such as partnerships, agreements, awareness campaigns, and research funding & grants to strengthen their product portfolio and sustain growth in Saudi Arabia human insulin market.
Key players in Saudi Arabia human insulin market are Novo Nordisk Saudi Arabia, Sanofi Saudi Arabia, Baxter International Saudi Arabia, B Braun Saudi Arabia, Eli Lilly and Company Saudi Arabia, Pfizer Saudi Arabia, among others.