Global obesity rates continue to rise rapidly due to changing lifestyles. This has increased the risk of serious chronic conditions like diabetes and cardiovascular disease significantly. Semaglutide, a glucagon-like peptide-1 (GLP-1) receptor agonist, has emerged as an effective treatment option for weight management and related co-morbidities. It mimics the effects of the naturally occurring gut hormone GLP-1 to induce weight loss. The drug boosts feelings of fullness and reduces appetite by slowing down gastric emptying and food passage. Semaglutide also improves blood sugar control and lowers cardiovascular risk factors like blood pressure and lipid levels.
The Global Semaglutide Market is estimated to be valued at US$ 18.21 Mn in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Semaglutide Market Demand are F. Hoffmann-La Roche AG, Boehringer Ingelheim. Roche markets semaglutide under the brand name Ozempic for the treatment of type 2 diabetes while Novo Nordisk markets it under the brand name Wegovy for chronic weight management.
Growing demand: With obesity rates reaching epidemic levels globally and the need for safe and effective weight loss therapies rising, the demand for semaglutide is expected to grow substantially. Its dual benefits of weight loss and glycemic control make it an attractive pharmacological option.
Global expansion: Major pharmaceutical companies marketing semaglutide have ramped up their commercialization efforts in international markets. Roche and Novo Nordisk are expanding access to semaglutide through awareness programs and value-based drug pricing models in high growth regions.
Market key trends
Combination therapy: Semaglutide is being evaluated in combination with other anti-obesity drugs like phentermine, bupropion and naltrexone for potential synergistic weight loss. Studies indicate combination regimens may result in superior weight loss versus monotherapy. This could expand the eligible patient population.
Pediatric use: With childhood obesity on the rise, some trials are assessing the safety and efficacy of semaglutide in adolescents. An approval for pediatric weight management can open up a huge untapped market segment. However, long-term cardiovascular outcomes need to be established before routine use in children.
Porter’s Analysis
Threat of new entrants: High capital investment required to develop Semaglutide Market acts as a deterrent for new players.
Bargaining power of buyers: Buyers have low bargaining power in the semaglutide market as it is a consolidated market dominated by a few major players.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitutes and the consolidated nature of the market.
Threat of new substitutes: Threat of new substitutes is moderate as R&D in drugs discovers new treatment methods.
Competitive rivalry: Market is consolidated and competition is intense between major players trying to develop advanced semaglutide.
Geographically, North America dominates the semaglutide market and is expected to continue to do so during the forecast period. This is attributed to availability of advanced healthcare facilities, growing obesity rates, and presence of key players in the region. Asia Pacific is expected to be the fastest growing market for semaglutide during the forecast period due to growing medical tourism industry, rising healthcare expenditure, and increasing prevalence of obesity and diabetes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it