The Insulin Sensitizers Market Is Estimated To Witness High Growth
SWOT Analysis
Strength: Insulin sensitizers can help control blood sugar levels and prevent diabetes complications in three easy steps. They work by making cells more sensitive to insulin and require fewer injections than other drugs. Clinical trials have found them to be highly effective.
Weakness: They may cause side effects like nausea, vomiting, diarrhea and abdominal pain if not taken correctly. Research into new drugs is an expensive process requiring large investments.
Opportunity: Rising global prevalence of diabetes and obesity has increased the demand for effective drugs. New drug delivery methods like pills can help improve patient compliance over injections.
Threats: Strict regulations around clinical trials delay market entry of new drugs. Patent expiries of blockbuster brands make room for cheap generic copies.
Key Takeaways
The global Insulin Sensitizers market Size is expected to witness high growth, exhibiting a CAGR of 5.5% over the forecast period, due to increasing prevalence of diabetes. As per estimates, over 400 million people suffered from diabetes worldwide in 2020.
Regional analysis - North America currently dominates the market and is expected to continue its leading position over the forecast period, owing to the growing diabetic population. Asia Pacific is expected to witness the fastest growth rate, driven by expanding healthcare infrastructure and improving access to diagnostics and medicines in major economies like India and China.
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, Takeda Pharmaceutical. Eli Lilly and Company and Novo Nordisk are the market leaders having a strong product portfolio and global presence.
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