Insulin Resistance Market: Overview
Diabetes has become a major concern across the globe owing to its increasing prevalence. Statistics published by World Health Organization (WHO) suggests that over 350 million individuals suffer from diabetes globally. The data also details that more that 80% cases are recorded in low and middle income countries, majority of which are from Asia Pacific, the Middle East and African countries. India accounts for maximum cases of diabetes with more than 30 million cases registered in year 2000. According to Medscape, a healthcare website, in the United States, the prevalence of insulin resistance is over 3%.
Insulin resistance is a complication in which body develops resistance to insulin due to its over production. As the sensitivity towards insulin decreases, body produces excess insulin for better absorption of glucose. This conditions leads to development of type 2 diabetes or prediabetes. Prediabetes is a condition in which blood glucose level is higher than the normal level, but not enough for proper diagnosis of diabetes. Although exact cause of insulin resistance is not known, scientists and doctor believe that excess and sedentary lifestyle are main causes for development of the disorder. Major symptoms of insulin resistance are lethargy, hunger, high blood pressure, atherosclerosis, and kidney damage. Insulin resistance diagnosis is difficult and involves combination of tests. Usually hyperinsulinemic euglycemic clamp test is used to measures the amount of glucose which is necessary to compensate for increased insulin level without causing hypoglycemia. Other tests include glucose tolerance test and fasting insulin level.
Insulin Resistance Market: Drivers and Restraints
Few drugs approved by FDA are available in the market for treatment of insulin resistance. Humulin by Lilly LLC, and Novolin and Velosulin by Novo Nordisk, are the major brands in the market. Various off label drugs are also prescribed to suppress the symptoms of insulin resistance. Inadequate clinical information on insulin resistance has restricted the scope of drug development. Although scientists are trying to gain insight for exact cause of insulin resistance, development of drugs may take more time owing to lengthy clinical trials. Diabetes and the consequent insulin resistance being a major concern in most of the countries, government initiatives to motivate research in diabetes is expected to give rise to more research projects for diabetes and insulin resistance. Aging population and increasing obesity prevalence in developing countries is expected to give rise to patients suffering from insulin resistance. According to Centers for Disease Control and Prevention (CDC), more than 35% of the U.S. population is obese. In another data published by OECD, more than 50% of the European Union population is overweight or obese. Obesity prevalence rates are on the rise in China, India and Brazil, making more and more population suitable to insulin resistance. China is now the second obese country in the world followed by India. Adoption of sedentary life style due to and reduced physical activities are adding to worries. Various educational institutes are taking serious steps to curb child obesity by increasing physical activities in schools. These factors are expected to increase the prevalence of increase prevalence of insulin resistance in India, China and other countries. Developing healthcare sector, increasing per capita income and increasing awareness about medical treatments will drive the market in these countries. Reimbursement and other government policies governing pricing will also play a major role in determining the future of the market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.