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 5.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Insulin sensitizers are oral antidiabetic drugs that help manage blood glucose levels in patients with type 2 diabetes by making cells more sensitive to the effects of insulin. They are widely used due to their convenience of oral administration compared to insulin injections.
Market key trends:
One of the key trends in the insulin sensitizers market is the increasing adoption of telehealth and remote patient monitoring. The COVID-19 pandemic has accelerated the shift towards telemedicine as people seek alternatives to in-person visits. Many insulin sensitizer brands are launching digital health programs that enable virtual consultations, remote glucose monitoring, prescription refills, and management of insulin dosages under medical supervision. This is expected to drive the demand for these drugs over the forecast period.
Segment Analysis:
The global insulin sensitizers market is segmented by drug class, drug formulation, and distribution channel. By drug class, the biguanides segment dominated the market in 2022 with a market share of over 35%. Biguanides such as metformin (Glucophage) are front-line therapy for type 2 diabetes due to their effectiveness, low cost, and safety. By drug formulation, the oral segment held the largest share of over 80% in 2022 owing to better patient compliance with oral drugs as compared to injectable drugs. By distribution channel, retail pharmacies accounted for the highest share in 2022 as retail pharmacies are the most accessible channel for patients to obtain prescribed drugs.
Key Takeaways:
The Global Insulin Sensitizers Market Size is expected to reach US$ 22.57 billion by 2030, exhibiting a CAGR of 5.5% over the forecast period owing to the rising prevalence of diabetes across the world.
Regional analysis - North America dominated the market in 2022 and is expected to continue its dominance during the forecast period. This is attributed to the increasing diabetes patient pool and growing obesity rates in the region. Asia Pacific is anticipated to witness the fastest growth during the forecast period.
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 market with its flagship metformin drug Glucophage.
Read More - https://www.trendingwebwire.com/insulin-sensitizers-market-share-and-demand-analysis/
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