April 17, 2024
Insulin Sensitizers Market

The Insulin Sensitizers Market Is Projected To Driven By Rising Prevalence Of Diabetes

Insulin sensitizers are drugs that help improve the body’s response to insulin. They help lower blood sugar levels in patients with type 2 diabetes by increasing the sensitivity of cells to insulin. Insulin sensitizers work by reducing insulin resistance in liver, muscle and fat tissues. Some common insulin sensitizers include biguanides (Metformin), thiazolidinediones (Pioglitazone), and alpha-glucosidase inhibitors. Metformin is considered to be the first line treatment for type 2 diabetes due to its effectiveness and low risk of side effects. It helps control blood sugar levels by decreasing glucose production in the liver and improving glucose uptake by cells.

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:

One of the key trends driving growth of the insulin sensitizers market is increasing adoption of sedentary lifestyle. Rising urbanization, changing dietary habits and lack of physical activity has significantly contributed to surge in obesity and diabetes prevalence worldwide. According to WHO, in 2020, around 422 million people were living with diabetes and 1.5 million deaths were directly caused by diabetes. Rising awareness about benefits of insulin sensitizers in managing diabetes symptoms in combination with other oral hypoglycemic agents is also propelling market growth. However, alternative therapies like bariatric surgeries and strict glycemic control may pose a challenge for market.

Porter’s Analysis

Threat of new entrants: Low level of threat as this is a highly regulated market with stringent approval requirements.

Bargaining power of buyers: Moderate bargaining power as buyers have limited options and switching costs are high.

Bargaining power of suppliers: High bargaining power as key players control the intellectual property rights and manufacturing of key molecules.

Threat of new substitutes: Low threat as insulin sensitizers have well-established benefits over existing substitutes for treatment of type 2 diabetes.

Competitive rivalry: High competition as key players focus on new product launches and gaining higher market share.

Key Takeaways

The Global Insulin Sensitizers Market Demand is expected to witness high growth. 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.

North America region currently dominates the global market and is expected to maintain its lead position over the forecast period. Factors such as high healthcare expenditure, growing prevalence of diabetes, and presence of major key players in the region will contribute to its large market share.

Key players operating in the Insulin Sensitizers market are ScarAway, Thrive Aesthetics MN, HRA Pharma, MARLO. Insulin sensitizers offered by these players help manage blood glucose levels and control diabetes. They continue investing in product innovations to strengthen their market position.

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