Insulin sensitizers are medications that help improve the body’s response to insulin. They help lower blood sugar levels in patients with type 2 diabetes. Common insulin sensitizers include metformin, pioglitazone, and rosiglitazone. Metformin is the most prescribed first-line oral drug for treatment of type 2 diabetes. It helps control blood sugar levels by decreasing the amount of sugar produced by the liver and helping the body respond better to insulin. Growing diabetes prevalence worldwide due to rising obesity rates and sedentary lifestyles has increased the demand for effective diabetes management drugs like insulin sensitizers.
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 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing diabetes prevalence is one of the major drivers fueling growth of the insulin sensitizers market. According to International Diabetes Federation estimates, approximately 537 million adults were living with diabetes in 2021 globally, with the number expected to rise to 643 million by 2030 and 783 million by 2045. Rising obesity rates and increasing sedentary lifestyles are major factors driving the diabetes epidemic worldwide. Furthermore, growing geriatric population also contributes to market growth since aging is a significant risk factor for developing diabetes. However, side effects associated with certain insulin sensitizers like fluid retention and potential risks of heart failure with pioglitazone may hinder market growth to some extent over the forecast period. Nonetheless, ongoing development of new safer insulin sensitizers and their convenient dosage forms will continue creating lucrative business opportunities.
Segment Analysis
The insulin sensitizers market can be segmented based on treatment into drugs and external therapy. The drugs segment dominates the market and accounts for around 70% share of the total market. The segment is dominating as drugs provide more effective and long term management of insulin resistance as compared to other therapies. Some of the commonly prescribed drug classes in this segment include biguanides, thiazolidinediones, and alpha glucosidase inhibitors.
PEST Analysis
Political: Regulatory bodies like FDA closely monitor the approval and usage of insulin sensitizers. Various initiatives to increase awareness about diabetes management positively impact the market.
Economic: Rising healthcare expenditure and growing middle class population in developing nations fuel the market growth. However, economic slowdowns can negatively impact the discretionary spending on diabetes treatment.
Social: Growing prevalence of diabetes and obesity worldwide increases the need for effective treatment options. However, social stigma related to chronic diseases still exists in some regions.
Technological: Ongoing R&D in drug development, delivery mechanisms, and digital healthcare aids in more effective management of insulin resistance. Technologies like continuous glucose monitors help improve patient outcomes
Key Takeaways
The Global Insulin Sensitizers Market Growth is estimated to be valued at US$ 15.09 Bn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030.
North America dominates the market currently due to high awareness levels and favorable reimbursement policies in countries like the US. However, Asia Pacific is expected to witness the fastest growth over the coming years led by Japan, China, and India.
Key players: Key players operating in the insulin sensitizers market are ScarAway, Thrive Aesthetics MN, HRA Pharma, MARLO. MARLO leads the market currently due its established brand presence and wide product portfolio for diabetes management. The company is actively focusing on emerging Asian markets to sustain its growth in the long run.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it