Insulin Sensitizers Market

Rising healthcare expenditure projected to boost the growth of Insulin Sensitizers Market

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The global 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 drugs that help lower blood sugar levels by making cells more sensitive to insulin. Some examples of insulin sensitizers include thiazolidinediones (TZDs) such as pioglitazone and rosiglitazone. These drugs are prescribed for patients with type 2 diabetes to improve their body’s response to insulin. Insulin sensitizers can help control blood sugar when used along with diet, exercise and other diabetes medications. As the number of people with diabetes continues to rise globally due to sedentary lifestyles and obesity, the demand for effective glucose lowering drugs is also increasing.

Market key trends:

One of the key trends in the insulin sensitizers market is the increasing adoption of newer therapies and drug combinations to improve treatment effectiveness. Researchers are exploring new drug targets and formulations to enhance insulin sensitization. For example, some newer drug candidates aim to selectively target certain subtypes of peroxisome proliferator-activated receptors (PPARs), the biological targets of TZDs. This can potentially help reduce side effects while maintaining glucose lowering action. Combination therapies using insulin sensitizers with other classes of antidiabetic drugs is also emerging as an effective treatment approach.

Porter’s Analysis:

  • Threat of new entrants: The threat of new entrants is moderate in the insulin sensitizers market due to moderate requirement of high investment for R&D of drugs and marketing activities.
  • Bargaining power of buyers: The bargaining power of buyers is high due to availability of alternative treatment options. Also, pricing pressure from regulatory authorities on manufacturers limits the profit margins.
  • Bargaining power of suppliers: The bargaining power of suppliers is low as the major players focus on in-house development of API and the raw material suppliers have a worldwide presence.
  • Threat of new substitutes: The threat of substitutes is moderate as new therapeutics for diabetes treatment are emerging but are still at an early stage.
  • Competitive rivalry: The competitive rivalry in the market is high owing to the presence of large number of marketed drugs with generic competition intensifying price wars.

Key Takeaways:

The Global Insulin Sensitizer’s Market Growth is expected to witness high, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of diabetes.

Regional analysis: North America is expected to dominate the global insulin sensitizers market during the forecast period. Factors such as presence of major market players, favorable reimbursement policies, and increasing adoption of insulin sensitizers drugs drive the market growth in the region. Asia Pacific is expected to exhibit the fastest growth rate over the forecast period owing to rising healthcare expenditures and growing awareness regarding diabetes treatment.

Key players: 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. Eli Lilly and Company and Novo Nordisk Account for major share of the global market.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it