by Insulin sensitizers play an important role in managing blood sugar levels for patients with type 2 diabetes by making cells more sensitive to insulin. This reduces the amount of insulin the pancreas needs to produce and helps control blood sugar levels.
The global Insulin Sensitizers Market is estimated to be valued at US$15.09 billion in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of diabetes across the globe remains the key factor driving the growth of the insulin sensitizers market. As per the International Diabetes Federation, over 537 million adults were living with diabetes in 2021 which is projected to rise to 643 million by 2030 and 783 million by 2045. The growing diabetic population has increased the demand for efficient management of blood glucose levels, propelling the demand for insulin sensitizers. Furthermore, advanced insulin sensitizers entering clinical trials with the potential for improved glycemic control and fewer side effects compared to existing treatment options are expected to provide lucrative growth opportunities for market players over the forecast period.
SWOT Analysis
Strength: Insulin sensitizers improve insulin sensitivity in the body and help control blood glucose levels effectively. They have a low risk of hypoglycemia.
Weakness: Insulin sensitizers are not as effective as other antidiabetic drugs in reducing A1C and fasting plasma glucose levels. Some patients may experience side effects like weight gain, edema, and gastrointestinal issues.
Opportunity: Rising global prevalence of diabetes and prediabetes indicates significant growth opportunities. Growing awareness about lifestyle management can boost the demand for oral antidiabetic drugs.
Threats: Strict regulatory approval process and pricing pressures may restrain market growth to some extent. Patent expirations of leading brands increase competition from generic versions.
Key Takeaways
The Global Insulin Sensitizers Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 15.09 Bn in 2023, growing at a CAGR of 4.3% during the forecast period.
Regional analysis – North America currently dominates the market due to the growing diabetic population. However, Asia Pacific is expected to witness the fastest growth due to improving access to healthcare and rising awareness. Countries like China and India are emerging as high-potential markets.
Key players operating in the insulin sensitizers market are ScarAway, Thrive Aesthetics MN, HRA Pharma, and MARLO. Key players are focusing on new product launches, collaborations, and geographic expansion to strengthen their market position. They are increasingly investing in R&D to develop advanced and combination therapies
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
