May 22, 2024
Insulin Sensitizers Market

Insulin Sensitizers Market Growth Driven By Increasing Prevalence Of Diabetes

Insulin sensitizers are oral antidiabetic drugs widely used for the treatment of type 2 diabetes. They work by increasing the body’s sensitivity to insulin, thereby lowering blood glucose levels. Some commonly prescribed insulin sensitizers include biguanides, metformin being the most widely used, and thiazolidinediones (TZDs) like pioglitazone and rosiglitazone. Metformin is typically the first-line treatment prescribed by doctors for type 2 diabetes as it is very effective, affordable, and has fewer side effects than other options. It helps control blood sugar levels by suppressing glucose production in the liver as well as improving the way glucose is taken up by tissues and muscles.

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 9.4% 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 in the insulin sensitizers market is the growing popularity of combination insulin therapies. Many patients do not achieve optimum blood glucose control with metformin or TZDs alone. Doctors are increasingly prescribing combinations of these drugs along with other anti-diabetic medications including insulin to provide better glycemic control. Combination treatments show enhanced therapeutic response by targeting different pathways involved in glucose metabolism. This approach has significantly improved treatment outcomes for type 2 diabetes patients.

Porter’s Analysis
Threat of new entrants: Low barriers to entry like patents may enable new companies to enter the market easily. However, established players have brand recognition and supply chain advantages.
Bargaining power of buyers: Large buyers like distributors have significant influence over prices due to bulk purchases. However, need for specialized treatment limits switching.
Bargaining power of suppliers: A few major suppliers exist for active ingredients and manufacturing resources. However, availability of substitutes prevents excessive pricing power.
Threat of new substitutes: Alternatives like Invokana and Ozempic present a growing threat due to superior efficacy profiles. However, insulin sensitizers target a wider patient group.
Competitive rivalry: The market is occupied by few large players with differentiated products. However, generics capture significant share on patent expiries.

Key Takeaways

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

Regional analysis:

The Asia Pacific region dominates the global market and is expected to grow at a high rate due to escalating incidence of diabetes in densely populated countries like China and India. North America and Europe also have substantial market shares.

Key players:

Key players operating in the insulin sensitizers market are Nike, Adidas, Puma, Under Armour, New Balance, ASICS, VF Corporation, Lululemon, Columbia Sportswear, Ralph Lauren, Li Ning, L Brands, H&M, Zara, Uniqlo, Forever21, Gap, Next, Esprit, and C&A. Majority of revenue is generated from top players like Merck and Novo Nordisk. Products are also facing increasing competition from generics post patent expiries.

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