by GLP-1 receptor agonists are injectable drugs used for glycemic control in type 2 diabetes patients. They lower blood glucose levels by stimulating the release of insulin from pancreatic beta cells in a glucose-dependent manner. They also suppress glucagon secretion and slow gastric emptying, which helps in maintaining glucose homeostasis. With the growing prevalence of type 2 diabetes globally coupled with increasing preference for less complex treatment regimens compared to other anti-diabetic drugs, the demand for GLP-1 receptor agonists is rising.
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 17.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising adoption of minimally invasive treatments and preference for once-weekly dosing regimens are major market trends fueling the growth of GLP-1 receptor agonist market. Most of the currently available GLP-1 receptor agonists require daily subcutaneous injections which presents obstacles in terms of patient adherence. Newer formulations providing once-weekly dosing frequency have better compliance than daily injectables. For instance, semaglutide manufactured by Novo Nordisk is dosed only once weekly, addressing one of the key concerns with frequent GLP-1 receptor agonist dosing. Rising awareness about benefits of GLP-1 receptor agonists and availability of novel convenient dosage forms is expected to significantly drive the market during the forecast period.
SWOT Analysis
Strength: GLP-1 receptor agonists have various clinical benefits such as weight loss, cardiovascular risk reduction, and glycemic control which provides strong market potential.
Weakness: High costs associated with GLP-1 receptor agonists limit their widespread use. Side effects like nausea is also a concern.
Opportunity: Rising prevalence of diabetes and obesity worldwide is driving the demand for effective therapeutic drugs like GLP-1 receptor agonists.
Threats: Stringent regulatory pathways and introduction of generics pose major threats to market leaders.
Key Takeaways
The Global GLP-1 Receptor Agonist Market Size is expected to witness high growth.
Regional Analysis: North America currently dominates the global market and is expected to continue its dominance during the forecast period. This is attributed to the increasing prevalence of diabetes and obesity. Moreover, favorable reimbursement policies and presence of major players in the region also boosts the market growth.
Asia Pacific is anticipated to be the fastest-growing regional market during the forecast period. This is due to rising geriatric population, growing healthcare expenditure, and increasing disposable incomes in emerging countries like China and India.
Key players operating in the GLP-1 receptor agonist market include SunPower Corporation, Vivint Solar, Sunrun, Tesla, LG Electronics, Panasonic Corporation, JinkoSolar, Canadian Solar, ReneSola, Trina Solar, Yingli Green Energy, SMA Solar Technology, Enphase Energy, SolarEdge Technologies, Daqo New Energy Corp, JA Solar, LONGi Green Energy Technology, Array Technologies, First Solar, and REC Group. Key players are focused on new product approvals and launches to consolidate their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
