by Insulin sensitizers are medications used to increase the body’s sensitivity to insulin. They are primarily used as a treatment for type 2 diabetes mellitus to lower blood glucose levels. Type 2 diabetes is one of the fastest growing chronic diseases worldwide, attributed to rising obesity levels and sedentary lifestyles. According to the International Diabetes Federation, around 537 million people aged 20-79 years are currently living with diabetes and by 2030, around 643 million people are likely to have diabetes. Insulin sensitizers work by improving the body’s response to insulin either by increasing production of insulin or by mimicking the effects of insulin in the body. Major classes of insulin sensitizers include biguanides, thiazolidinediones, and alpha-glucosidase inhibitors. Biguanides represent the largest segment owing to favorable reimbursement policies for metformin in many countries.
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 Dynamics
The growing prevalence of diabetes driven by increasing obesity levels is a major factor driving the growth of the insulin sensitizers market. In cities worldwide, more than a billion people currently live an overweight or obese lifestyle putting them at higher risk of type 2 diabetes. Insulin resistance, the hallmark of obesity and type 2 diabetes, reduces the sensitivity of cells to respond normally to insulin-mediated glucose uptake. Insulin sensitizers help address this underlying issue and aid in blood glucose management, making them a crucial part of diabetes treatment protocols. Additionally, advancements in formulation and delivery technologies have led to the introduction of new oral medication options, expanding treatment paradigms and overall market potential. However, side effects associated with insulin sensitizers like fluid retention, weight gain, and risks of liver toxicity may negatively impact their adoption. Nevertheless, emerging economies represent strong opportunities for growth attributed to increasing burden of diabetes in these regions. Also, ongoing research on newer and more effective drug candidates is expected to further supplement market expansion over the forecast period.
Segment Analysis
The global insulin sensitizers market is dominated by the biguanides segment occupying around 45% of the total market share. The popularity of biguanides segment is majorly attributed to wide acceptance and availability of metformin as the first line treatment for type 2 diabetes. Metformin is one of the preferred medications for initial management of type 2 diabetes owing to its efficacy, safety, and low cost.
PEST Analysis
Political: Governments across various countries are promoting awareness programs about diabetes and importance of its management. Subsidies and favorable drug regulations are supporting market growth.
Economic: Rising disposable incomes in developing regions is positively impacting healthcare expenditures on diabetes management. However, high costs of branded insulin sensitizers can hinder market penetration in low income countries.
Social: Growing prevalence of obesity and sedentary lifestyles is leading to increased risk of type 2 diabetes. Health consciousness is boosting adoption of insulin sensitizers for glycemic control.
Technological: Continuous R&D is facilitating development of newer formulation types such as extended-release for improved patient compliance. Digital health solutions are aiding remote monitoring of insulin sensitizers therapy.
Key Takeaways
Global Insulin Sensitizers Market Size is expected to witness high growth at a CAGR of 9.4% during the forecast period of 2023 to 2030.
Regional analysis comprises the market in North America dominates with the largest share owing to high diabetes prevalence andavailability of favorable reimbursement policies.
Key players operating in the insulin sensitizers market include 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. Key players analysis comprises Nike dominates the market with innovative product launches catering to fitness enthusiasts.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
