by The global GLP-1 Receptor Agonist Market is estimated to be valued at US$ 14,319.85 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 are injectable diabetic drugs that help control blood sugar levels. They mimic the effects of a natural hormone called glucagon-like peptide 1 (GLP-1) that stimulates insulin secretion and slows stomach emptying. These factors help control blood sugar levels after meal intake.
Market key trends:
Growing prevalence of type 2 diabetes and rising awareness about GLP-1 receptor agonists benefits are driving the growth of this market. Also, increasing R&D investments by key players for development of new formulations such as oral, inhaled and patches is expected to create lucrative opportunities. However, high costs of GLP-1 receptor agonists and treatment complexity associated with injections may hamper the market growth.
Market key trends:
The GLP-1 receptor agonist market is experiencing high growth owing to the increasing prevalence of obesity and diabetes globally. GLP-1 receptor agonist drugs are effective in achieving weight loss and glycemic control in patients with type 2 diabetes. Furthermore, the approval and launch of newer once-weekly GLP-1 receptor agonists by major pharmaceutical companies has boosted the market growth.
SWOT Analysis
Strengths: GLP-1 receptor agonists are highly effective in managing blood glucose levels and promoting weight loss. They also have a low risk of causing hypoglycemia.
Weaknesses: GLP-1 receptor agonists need to be administered via injections which deters some patients from opting for them. They are also associated with side effects like nausea.
Opportunities: Growing obese and diabetic patient pool worldwide presents significant opportunities. Emerging economies with large underdiagnosed populations offer scope for market expansion.
Threats: Patent expiries of major drugs may increase revenue losses. biosimilars may erode branded drugs market share. Price erosion due to intensifying market competition is a looming threat.
Key Takeaways
The Global GLP-1 Receptor Agonist Market Size was valued at US$ 14,319.85 million in 2023 and is expected to reach US$ 31,253.87 million by 2030, registering a CAGR of 6.1% during the forecast period.
The North American region dominates the global GLP-1 receptor agonist market owing to the increasing prevalence of diabetes and rising healthcare spending in the region. According to the International Diabetes Federation, in 2021, around 48.4 million Americans were diagnosed with diabetes.
Regional analysis Regional analysis 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
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
