by The Insulin Sensitizers Market is estimated to be valued at US$ 15.09 Bn 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 a class of medications that lower blood glucose levels by reducing insulin resistance. They work by increasing the cells’ sensitivity or responsiveness to insulin. Common examples of insulin sensitizers include biguanides (metformin), thiazolidinediones (TZDs or glitazones), and alpha-glucosidase inhibitors. They are often used as a first-line treatment for type 2 diabetes before introducing insulin therapy.
Market Dynamics:
Insulin sensitizers help manage diabetes without increasing the risk of hypoglycemia associated with insulin injections. Their ability to lower blood glucose levels while avoiding major side effects is a key driver promoting the adoption of these drugs. Furthermore, the growing prevalence of diabetes worldwide has fueled the demand for effective treatments. According to the International Diabetes Federation, over 537 million people had diabetes in 2021, and the number is projected to rise to 643 million by 2030 and 784 million by 2045. The primary drivers of this growth include increasing obesity levels and aging populations.
Segment Analysis:
The global insulin sensitizers market is dominated by thiazolidinediones sub-segment. Thiazolidinediones agents such as pioglitazone and rosiglitazone are widely used insulin sensitizers drugs belonging to this class. They are prescribed for the management of type 2 diabetes by acting as insulin sensitizers which enhance the effects of insulin and promote the uptake of glucose from the bloodstream.
PEST Analysis:
- Political: Governments across nations are implementing various initiatives to improve access to diabetes care and treatment. Various reimbursement programs aim to make insulin sensitizers drugs affordable.
- Economic: Rising healthcare expenditures on diabetes treatment and increasing prevalence of diabetes globally is fueling market growth. However, patent expirations of blockbuster drugs may restrain market growth to some extent.
- Social: Growing awareness regarding diabetes self-management and treatment helps increase the adoption of insulin sensitizer’s drugs. However, side effects of certain drugs still limit their use.
- Technological: Companies are investing in novel drug delivery technologies and formulations of existing drugs to improve efficacy, safety profile, and patient compliance. Advances in continuous glucose monitoring also supplement diabetes management.
Key Takeaways:
The Global Insulin Sensitizer’s Market Demand is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of diabetes worldwide. The market size for 2023 is estimated at US$ 15.09 Bn.
Regional analysis: North America dominates the global market due to presence of major market players and growing diabetes burden. Asia Pacific market is expected to grow at fastest CAGR due to rising awareness, improved access to healthcare facilities, and increasing healthcare expenditures.
Key players analysis: 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, and Takeda Pharmaceutical. Eli Lilly and Company leads the market with its blockbuster drug products portfolio for diabetes treatment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
