Increase in Number of Diabetes Patients

Posté 2023-11-29 13:08:00

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The 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.

SWOT Analysis:

· Strength: Insulin sensitizers help regulate blood sugar levels and improve insulin sensitivity in patients with type 2 diabetes. Common insulin sensitizers reduce insulin resistance through different mechanisms of action. Leading players have established strong distribution networks globally.

· Weakness: Insulin sensitizers are associated with certain side effects such as hypoglycemia, weight gain, and liver damage. The cost of treatment with insulin sensitizers is also high. Generic versions often have lower efficacy and require high doses for effectiveness.

· Opportunity: Rising geriatric population and growing prevalence of obesity and sedentary lifestyles are fueling the incidence of diabetes worldwide. Novel drug delivery systems and pipeline drugs with improved safety profiles offer opportunities for market expansion.

· Threats: Patent expiries of major drugs enable entry of biosimilars and generics, intensifying competition. Alternative treatment options like bariatric surgery and lifestyle modifications pose a challenge. Stringent regulations for approvals also delay market entry of new formulations.

Key Takeaways:

The Global Insulin Sensitizers Market Demand Growth is expected to witness high, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of diabetes globally. It is estimated that over 537 million people suffered from diabetes in 2021 worldwide.

Regional analysis: North America dominated the market, accounting for over 35% share in 2023 due constraints in public healthcare expenditures. However, Asia Pacific is poised to be the fastest-growing regional market owing to rising diabetes incidence, healthcare reforms, and increased access to modern therapies.

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 and Company leads the global market with its drug pioglitazone under the brand name Actos having the largest sales worldwide for insulin sensitizers.