Insulin Sensitizers Market Poised To Witness High Growth Due To Increasing Prevalence Of Diabetes
Author : Leena Shedmake | Published On : 17 Jan 2024
Insulin sensitizers are a class of pharmaceutical drugs used primarily to treat type 2 diabetes. By enhancing the sensitivity of target cells to insulin, insulin sensitizers help lower blood glucose levels. Thiazolidinediones, also called glitazones, are a class of insulin sensitizers that act as agonists of peroxisome proliferator-activated receptor gamma (PPARγ). PPARγ regulates the storage and breakdown of fat in adipose tissue as well as the synthesis of new fat. Some commonly used insulin sensitizers include pioglitazone and rosiglitazone.
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 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the insulin sensitizers market is the increasing prevalence of diabetes globally. As per the International Diabetes Federation, around 537 million adults were living with diabetes in 2021 worldwide, and the number is expected to rise to 643 million by 2030 and 783 million by 2045. Since insulin sensitizers are majorly used in the treatment of type 2 diabetes, the rising incidence of diabetes is expected to propel the demand for these drugs over the forecast period.
In addition, research and development activities aimed at developing newer, more effective insulin sensitizers is also expected to boost market growth. Several pharmaceutical companies are conducting clinical trials to evaluate new drug candidates for the treatment of type 2 diabetes and insulin resistance. For instance, in 2021, PhaseBio Pharmaceuticals initiated a Phase 2b clinical trial of its novel insulin sensitizer candidate, PB1046, for the treatment of cardiometabolic disorders.
SWOT Analysis
Strength: Insulin sensitizers help regulate blood sugar levels by improving the body's response to insulin. This helps manage diabetes and prevent dangerous highs and lows in blood sugar. However, by making cells more sensitive to insulin, these drugs can also lower blood sugar too much.
Weakness: Some common side effects of insulin sensitizers include nausea, diarrhea, flatulence, and abdominal discomfort. Metformin, the most common drug in this class, can also cause vitamin B12 deficiency. Long-term safety data is still being collected for some newer drugs.
Opportunity: The growing global prevalence of diabetes, especially type 2, represents a major opportunity for drugs that help regulate blood sugar through insulin sensitization. As obesity rates climb worldwide, more people are developing insulin resistance, prediabetes, and full-blown diabetes.
Threats: Increased competition from newer drug classes and alternative treatment approaches threatens market share for insulin sensitizers. Injectable medications, newer oral drugs, medical devices, and lifestyle/diet changes all vie for use in diabetes management. Generic competition also erodes profits on older insulin sensitizer brands.
Key Takeaways
The Global Insulin Sensitizers Market Size is expected to witness steady growth over the forecast period of 2023 to 2030 supported by the growing prevalence of diabetes globally. 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 4.3% over the forecast period 2023 to 2030.
Regional analysis indicates that North America currently dominates the market due to advanced healthcare infrastructure and higher acceptance of novel drug therapies. However, Asia Pacific is expected to emerge as the fastest growing market for insulin sensitizers owing to rapidly increasing diabetic patient pool in major countries like China and India.
Key players operating in the insulin sensitizers market include ScarAway, Thrive Aesthetics MN, HRA Pharma, and MARLO. These companies are focused on new product launches, facility expansion, and clinical trials to strengthen their market position. For instance, in 2022, ScarAway received FDA clearance for a new Scar Reduction Patch to treat keloid and hypertrophic scars. Similarly, Thrive Aesthetics MN opened a new production plant in Minnesota to double its manufacturing capacity of various scar treatment products.
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