by 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 help improve insulin sensitivity and reduce the amount of insulin needed by the body to lower blood sugar levels. They are prescribed to treat type-2 diabetes when diet and exercise are not enough to control blood sugar. Insulin sensitizers helps the cells use insulin better and make more efficient use of blood glucose for energy.
Market key trends:
One of the major trend in the insulin sensitizers market is the rising obesity rates across the world. According to World Health Organization, in 2016, over 1.9 billion adults aged 18 years and older were overweight and out of these over 650 million adults were obese. Rising obesity has increased the risk of type-2 diabetes significantly which is a major end user segment for insulin sensitizers market. According to International Diabetes Federation, in 2019 around 463 million people were suffering from diabetes worldwide and it is projected to reach 700 million by 2045. This rising diabetes population presents a huge market opportunity for insulin sensitizers manufacturing companies to tap into.
SWOT Analysis:
- Strength: Presence of several treatment options and established market players like Eli Lilly, Novo Nordisk, etc. provides reliable access to care.
- Weakness: Emergence of newer drug classes like SGLT-2 inhibitors has shifted focus away from traditional sensitizers resulting in slower market growth.
- Opportunity: High prevalence of diabetes worldwide presents significant scope for further market expansion, especially in emerging nations.
- Threats: Stiff competition from other anti-diabetic drug classes and potential patent expiries of blockbuster drugs could impact revenue streams.
Key Takeaways:
The Global Insulin Sensitizer’s Market Size was valued at US$ 15.09 Bn in 2023. The market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of diabetes worldwide.
Regional analysis:
North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This is mainly attributed to the rising diabetic population in the US and Canada. However, Asia Pacific is anticipated to emerge as the fastest-growing regional market between 2023 and 2030, owing to growing medical expenditure and increasing awareness about diabetes treatment in populous countries like China and India.
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, and Takeda Pharmaceutical. Eli Lilly captured the largest revenue share in 2023 owing to strong sales of Tradjenta and other sensitizers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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