by The global Insulin Sensitizers Market is estimated to be valued at US$ 15.09 Bn or Billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Insulin sensitizers are oral anti-diabetic medications that help lower blood sugar levels in patients with type 2 diabetes. They work by improving the body’s response to endogenous insulin and reducing hepatic glucose production. Insulin sensitizers help control blood sugar, improve glycemic control, and reduce the risks of diabetes-related complications.
Market key trends:
One of the key trends in the insulin sensitizers market is the increasing preference for orally administered anti-diabetic drugs over injectable drugs. Oral drugs are more convenient, pain-free, and preferred by patients compared to frequent injections. This has driven the demand for convenient oral therapies like insulin sensitizers. Furthermore, the growing global prevalence of type 2 diabetes presents a massive patient pool targetable by insulin sensitizers. According to statistics, the number of adults living with diabetes increased from 108 million in 1980 to 422 million in 2014. This rising prevalence of diabetes cases worldwide acts as a driver for the insulin sensitizers market.
SWOT Analysis
Strength: Insulin sensitizers help improve insulin sensitivity and control blood sugar levels in diabetic patients. They lower glucose production by liver and aid in fat metabolism, thereby managing diabetes effectively.
Weakness: Insulin sensitizers are associated with side effects like weight gain, fluid retention, liver injury in some cases. Their long term efficacy and safety is not fully established.
Opportunity: Growing prevalence of type 2 diabetes worldwide due to obesity, sedentary lifestyle is increasing the demand for improved diabetes management drugs. Advancements in drug delivery and novel drug combinations can enhance efficacy of insulin sensitizers.
Threats: Strict regulatory environment for approval of new diabetes drugs. Patent expiration of blockbuster drugs allows market entry of generics reducing prices and profits of innovator companies.
Key Takeaways
The Global Insulin Sensitizers Market Size is expected to witness high growth, exhibiting a CAGR of 5.5% over the forecast period, due to increasing prevalence of diabetes globally. Asia Pacific is expected to be the fastest growing market for insulin sensitizers owing to rising health burden of diabetes and economic growth in major countries.
North America currently dominates the global insulin sensitizers market and is expected to retain its leading position during the forecast period. This can be attributed to high diagnosis and treatment rates for diabetes in the region. According to International Diabetes Federation, in 2021, around 48 million Americans suffered from diabetes.
Europe is the second largest regional market for insulin sensitizers. Countries with large healthcare budgets like the UK, Germany, France contribute significantly to the European market. As per European Diabetes Leadership Forum estimates, diabetes afflicts over 60 million people across Europe.
Key players operating in the Insulin Sensitizers market are Eli Lilly and Company, Novo Nordisk, Sanofi, Merck & Co., Bristol Myers Squibb, AstraZeneca, Boehringer Ingelheim, Johnson & Johnson, Takeda Pharmaceutical. In recent years, these companies have undertaken partnerships and collaboration to develop more effective second and third generation insulin sensitizers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
