July 23, 2024
GLP-1 Receptor Agonist Market

GLP-1 Receptor Agonist Market is Expected to be Flourished by Growing Adoption of Therapeutics to Treat Diabetes

GLP-1 receptor agonists (also known as incretin mimetics) are a class of drugs used to treat type 2 diabetes. They work by mimicking the effects of the natural incretin hormone GLP-1. Common GLP-1 receptor agonists include exenatide, liraglutide, dulaglutide, semaglutide and lixisenatide. They are effective at lowering blood glucose levels in a glucose-dependent manner. They stimulate insulin secretion and suppress glucagon secretion when blood glucose is high. They also slow gastric emptying to reduce the rate at which sugars are absorbed into the bloodstream after eating. As a result, GLP-1 receptor agonists are useful not only for improving glycemic control but also for promoting weight loss.

The global 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 21. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growing adoption of therapeutics to treat diabetes is expected to drive the growth of the GLP-1 receptor agonist market. According to the International Diabetes Federation, in 2019 approximately 463 million adults were living with diabetes worldwide and by 2045 this number is expected to rise to 700 million. Type 2 diabetes accounts for over 90% of the Diabetes cases. GLP-1 receptor agonists are effective anti-diabetic drugs for type 2 diabetes treatment and are also associated with weight loss. Therefore, increasing diabetes prevalence is increasing the demand for GLP-1 receptor agonists globally. Additionally, the availability of new product launches with novel delivery systems offering better efficacy and tolerability is also fueling the growth of this market. In 2022, Eli Lilly launched their new GLP-1 receptor agonist called Tirzepatide under the brand name Mounjaro, which offers superior blood sugar lowering and weight loss compared to existing therapies. Such innovations are creating more opportunities for market players in this sector.

Segment Analysis

The GLP-1 receptor agonist market can be segmented based on drug class, application, distribution channel and geography. Based on drug class, the market is segmented into exanatide, liraglutide, lixisenatide, albiglutide and dulaglutide, among which liraglutide dominates the market owing to its widespread availability and better tolerance.

PEST Analysis
Political: The GLP-1 receptor agonist market is regulated by governmental bodies which mandate strict regulations for the approval and manufacturing of these drugs. Favourable drug pricing policies by governments across regions boost the market growth.
Economic: Rising prevalence of diabetes and growing healthcare spending on chronic disease management fuels the market growth. However, price control measures by regulators in some countries can hamper the market.
Social: Increasing health consciousness and awareness about management of diabetes and obesity encourages patients to adopt GLP-1 receptor agonist drugs. Sedentary lifestyle and changing food habits leading to weight gain propels the market growth.
Technological: Extensive R&D is being conducted by pharma companies to develop newer formulation with improved efficacy and safety profile. Some companies are also working on once-weekly dosage forms.

Key Takeaways
The Global GLP-1 Receptor Agonist Market Size is expected to witness high growth. The global 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 21% over the forecast period 2023 to 2030.

Regional analysis comprises Asia Pacific dominates the market and is poised to grow at the fastest pace during the forecast period. The high diabetic patient pool and growing healthcare awareness drives the regional market.

Key players related content comprises Key players operating in the GLP-1 receptor agonist market are Auto Power, Volmac Engg. (P) Limited, Club Car, LLC, Carrieall Car Private Limited, Speedways Electric, GDrive Golf Carts, Maini Material Movement Pvt. Ltd., Nebula Automotive Pvt. Ltd., Prevalence Ltd., and Yamaha Golf-Car Company. Key players are focusing on development of novel formulations to strengthen their product portfolio and market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it