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.
Insulin sensitizers are oral anti-diabetic drugs that help control blood sugar levels in patients with type 2 diabetes. They work by increasing the cells’ sensitivity to natural insulin made by the pancreas. The key advantage of insulin sensitizers is that they help manage diabetes without causing weight gain and without increasing the risk of hypoglycemia. As type 2 diabetes becomes more prevalent worldwide, the demand for efficient management of the disease is growing. Insulin sensitizers provide an alternative to insulin injections for many patients.
Market key trends:
One of the key trends in the insulin sensitizers market is the growing awareness regarding diabetes self-management. Various awareness initiatives by healthcare organizations as well as pharmaceutical companies help inform patients about the different treatment options available. This is driving the demand for oral anti-diabetic drugs such as insulin sensitizers. Another trend is the ongoing development of new formulations. Researchers are working on novel drug delivery systems that can improve patient adherence as well as help optimize glucose control. Sustained release formulations and fixed-dose combination pills are some developing areas.
Threat of new entrants: Low, as the insulin sensitizers market requires high R&D investments and regulatory approvals.
Bargaining power of buyers: High, as the market has few generic drugs and buyers can shift to alternative therapies.
Bargaining power of suppliers: Moderate, as raw material suppliers have bargaining power due to fewer suppliers and accessibility issues.
Threat of new substitutes: High, as alternative therapies like insulin, GLP-1 analogs, DPP-4 inhibitors are available.
Competitive rivalry: Intense, as major players compete on pricing, novel drug delivery solutions, and marketing strategies.
The Global Insulin Sensitizers Market Demand is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of diabetes. The International Diabetes Federation estimated that around 537 million adults lived with diabetes in 2021 worldwide.
Regional analysis: North America dominates the global market due to high healthcare spending. However, Asia Pacific is expected to witness the fastest growth owing to rising diabetes incidence, growing healthcare expenditure, and increasing obesity in China and India.
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. Key players are focusing on developing novel formulations and combinations to strengthen their product portfolios. For instance, in 2021, Eli Lilly received FDA approval for tirzepatide, a novel dual GIP and GLP-1 receptor agonist for type 2 diabetes treatment.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it