The Insulin Sensitizers Market is estimated to be valued at US$ 15.09 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Insulin sensitizers are oral anti-diabetic drugs that help reduce blood glucose levels by enhancing the body’s response to insulin. Commonly prescribed insulin sensitizers include metformin, pioglitazone, and rosiglitazone. Metformin remains the first line treatment for type 2 diabetes and is highly preferred due to its affordability and effectiveness.
The global insulin sensitizers market is driven by the rising prevalence of diabetes worldwide. As per the International Diabetes Federation (IDF), approximately 537 million adults aged 20-79 years were living with diabetes in 2021 across the globe, and the number is estimated to rise to 643 million by 2030 and 783 million by 2045. This substantial increase in the diabetic patient pool is expected to fuel the demand for effective anti-diabetic medications like insulin sensitizers over the forecast period. Additionally, ongoing clinical trials evaluating the efficacy of newer insulin sensitizers in the treatment of diabetes and insulin resistance will further support the market growth.
The global insulin sensitizers market can be segmented based on product type, drug class, distribution channel, and region. Based on product type, the market is segmented into thiazolidinediones (TZDs), biguanides, and alpha-glucosidase inhibitors. Biguanides currently dominates the global market as it offers improved glycemic control compared to TZDs and alpha-glucosidase inhibitors.
Political: Regulations related to marketing and clinical trials of new insulin sensitizers vary across regions, impacting new product launches. Economic: Rising healthcare spending and increasing cases of diabetes drive the market growth. However, patent expirations of established drugs hamper the revenues of key players. Social: Growing awareness regarding diabetes management and preventive healthcare boosts the demand. Technological: Advancements in continuous glucose monitoring devices and smart insulin delivery systems support the insulin sensitizers adoption.
The Global Insulin Sensitizers Market Growth is expected to witness high, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of diabetes.
The North America region currently dominates the global market due to growing obesity rates and rising healthcare expenditure in the US and Canada. However, Asia Pacific is expected to witness the highest growth during the forecast period owing to burgeoning diabetes population in India and China.
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 and Company leads the global market with its product portfolio including TZDs, biguanides, and alpha-glucosidase inhibitors.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it