The GLP-1 Receptor Agonist Market is estimated to be valued at US$ 14319.85 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
GLP-1 receptor agonists or GLP-1RAs are injectable drugs used for glycemic control in patients with Type 2 diabetes. These drugs help control blood sugar levels by stimulating the release of insulin from pancreatic beta cells. They also suppress glucagon secretion and slow gastric emptying. Common products in the market include Bydureon, Victoza, Trulicity, Ozempic etc. which are available as once-weekly or once-daily injections. With rising prevalence of diabetes worldwide, the demand for effective and novel treatment options like GLP-1RAs is growing substantially.
Market Dynamics:
The key drivers fueling the GLP-1 receptor agonist market include rising global diabetes prevalence and increasing research into novel therapies. According to IDF Diabetes Atlas 2021, around 537 million adults were living with diabetes worldwide in 2021, which is projected to rise to 643 million by 2030 and 784 million by 2045. Growing diabetes population is a major factor driving prescriptions and sales of anti-diabetic drugs. Furthermore, several pharmaceutical companies are engaged in developing newer formulations of GLP-1RAs like oral drugs, patch-based delivery systems etc. to improve patient compliance over injections. For example, Eli Lilly’s oral GLP-1RA tirzepatide demonstrated superior glycemic and weight loss benefits over existing therapies in phase III trials. Such innovative pipeline products are anticipated to boost future demand.
Segment Analysis
The GLP-1 receptor agonist market can be segmented into Exenatide, Liraglutide, Lixisenatide, Dulaglutide, Semaglutide and Albiglutide. Among these, Exenatide dominates the market with around 30% share due to its early approval and familiarity among patients and doctors. However, the once weekly Semaglutide segment is expected to take over as the largest segment in the coming years owing to its higher efficacy and ease of usage over other daily dosage forms.
PEST Analysis
Political: The governments across regions are actively promoting healthcare interventions for management of chronic metabolic conditions like diabetes. This is expected to drive the uptake of newer drug therapies.
Economic: Rising income levels and growing health awareness have increased diabetes treatment-seeking rate globally. This has spurred the demand for effective drugs like GLP-1 receptor agonists.
Social: Growing social emphasis on preventive healthcare and management of lifestyle-induced chronic diseases augments the adoption of anti-diabetic drugs.
Technological: Advanced drug delivery systems enabling once weekly/monthly dosage are enhancing patient compliance for GLP-1 receptor agonists against conditions like obesity and diabetes.
Key Takeaways
The Global GLP-1 Receptor Agonist Market Size is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing prevalence of diabetes and obesity worldwide. Regionally, North America is expected to continue dominating the market through 2030 owing to the increasing prevalence of diabetes and growing awareness about therapeutic alternatives like GLP-1 receptor agonists. Key players like Eli Lilly and Company, GlaxoSmithKline plc, Novo Nordisk A/S, PegBio Co., Ltd., AstraZeneca, Intarcia Therapeutics, Inc., Amylin Pharmaceuticals, Inc., Sanofi, Hanmi Pharm. Co., Ltd., Pfizer Inc., Amgen Inc., Innovent Biologics, Jiangsu Hengrui Medicine Co., Sun Pharmaceuticals Industries Ltd., and 9 Meters Biopharma, Inc. operate in the GLP-1 receptor agonist market. The global GLP-1 receptor agonist market size for 2023 is projected to reach US$ 14,319.85 Mn.
Key players operating in the GLP-1 receptor agonist market are Eli Lilly and Company, GlaxoSmithKline plc, Novo Nordisk A/S, PegBio Co., Ltd., AstraZeneca, Intarcia Therapeutics, Inc., Amylin Pharmaceuticals, Inc., Sanofi, Hanmi Pharm. Co., Ltd., Pfizer Inc., Amgen Inc., Innovent Biologics, Jiangsu Hengrui Medicine Co., Sun Pharmaceuticals Industries Ltd., and 9 Meters Biopharma, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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