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| Global Insulin Sensitizers Market Size |
Insulin sensitizers are oral hypoglycemic agents primarily used for the
management of type 2 diabetes. They enhance the sensitivity of target cells to
insulin and help maintain normal blood glucose levels. Some common insulin
sensitizers include biguanides, thiazolidinediones and glitinides. The
increasing prevalence of diabetes globally, largely driven by obesity and
sedentary lifestyles, has boosted the demand for effective anti-diabetic drugs
such as insulin sensitizers. It is estimated that over 463 million people aged
20-79 years suffered from diabetes in 2019 and the figure is projected to rise
to over 700 million by 2045.
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 Opportunity:
The growing obese and elderly population prone to developing diabetes present a
major market opportunity for insulin sensitizers. Obesity is a primary risk
factor for type 2 diabetes and according to the WHO, over 1.9 billion adults
were overweight in 2016, of which over 650 million were obese. Furthermore, the
elderly are at a higher risk of diabetes due to age-related metabolic changes.
This rapidly expanding obese and geriatric demographic makes for a lucrative
patient pool for anti-diabetic drugs like insulin sensitizers in the coming
years. Manufacturers can capitalize on this opportunity through effective
marketing strategies that create awareness about insulin sensitizers amongst
high-risk groups.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the need
for high R&D investment and manufacturing expertise. Bargaining power of
buyers: The bargaining power of buyers is moderate since there are many
established brands in the market offering substitutable products. Bargaining
power of suppliers: The bargaining power of suppliers is moderate as there are
many suppliers providing raw materials. Threat of new substitutes: The threat
of new substitutes is high as new alternative treatment options are frequently
introduced. Competitive rivalry: The competitive rivalry is high due to
presence of many large and small players.
SWOT Analysis
Strength: The insulin sensitizers market has wide range of product portfolio
and advanced R&D capabilities. Established distribution network and brand
recognition are other key strengths.
Weakness: High dependency on limited product offerings and patent expiry of
blockbuster drugs are major weaknesses. High marketing spends required to
increase awareness about new drug launches.
Opportunity: Growing global diabetic population and increasing healthcare
expenditure in emerging markets present significant growth opportunities.
Threats: Stringent regulatory approvals and recalls limit market potential.
Patent infringement and generic competitionfurther threatens market revenues.
Key Takeaways
Global
Insulin Sensitizers Market Size is
expected to witness high growth over the forecast period 2023-2030.
Regional
analysis: North America dominated the global market in 2023 and is expected to
maintain its lead over the forecast period. Key factors supporting market
growth include increasing incidence of diabetes, favorable reimbursement
policies, and heavy investments in R&D activities by key players.
Key players
operating in the insulin sensitizers market are 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 Nike, Adidas and Puma account for majority
market share due to their diversified product portfolio and strong brand
identity.
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