Global Glucagon-like Peptide 1 (GLP-1) Market Report 2023: A $24.1 Billion Market by 2027 from $16.53 Billion in 2021 with Rising Cases of Diabetes and Obesity Contributing to Growth
DUBLIN, Jan. 30, 2023 /PRNewswire/ -- Research and Markets
The "Global Glucagon-like Peptide 1 (GLP-1) Market: Analysis By Product (Trulicity, Ozempic, Victoza, Rybelsus and Other GLP 1 Products), By Route of Administration (Injectable and Oral Medication), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
In 2021, the global glucagon-like peptide 1 (GLP-1) market was valued at US$16.53 billion, and is probable to reach US$24.10 billion by 2027. The glucagon-like peptide 1 (GLP-1) market is projected to grow at a CAGR of 6.48%, during the forecast period of 2022-2027.
The market would gain traction in the upcoming years with an increase in the number of products approved that help with the treatment of diabetes. It is anticipated that an increase in mergers and acquisitions would support the market in the coming years.
Market Segmentation Analysis:
According to the report, the global glucagon-like peptide 1 (GLP-1) market is segmented into five products: Trulicity, Ozempic, Victoza, Rybelsus and Other GLP 1 Products. Trulicity product acquired majority of share in the market in 2021, due to increasing prevalence of type 2 diabetes, which has led to a greater demand for effective treatments.
Whereas, rybelsus segment is expected to have the highest CAGR in the future due to its effectiveness in lowering blood sugar levels, its convenient once-daily dosing, and the fact that it is taken orally rather than by injection like many other diabetes medications.
The North America glucagon-like peptide 1 (GLP-1) market enjoyed the highest market share in 2021, primarily owing to an increase in the aged population with rising prevalence of diabetes and obesity and high awareness among the population and higher per capita income of the population.
While the US continues to be a prominent region of North America glucagon-like peptide 1 (GLP-1) market, accounting to the prevalence of advanced healthcare technologies, increased funding for research and development activities, increasing incidence of diabetes and growing geriatric population.
Global Glucagon-like Peptide 1 (GLP-1) Market Dynamics:
Diabetes prevalence has risen faster in low- and middle-income countries than in high-income countries. As the number of adults diagnosed with diabetes rises, so does the demand for medication, driving the global market for Glucagon-like Peptide 1. (GLP-1). Further, the market is expected to increase due to rising cases of obesity, rapid urbanization, increasing healthcare expenditure, increasing aging population, etc.
The major downside of GLP-1 agonists is that they have a shorter half-life due to degradation in the presence of the DPP enzyme. If the half-life is too short, more frequent dosage may be required to maintain acceptable exposures while avoiding unduly high peak concentrations. The other challenge that glucagon-like peptide 1 (GLP-1) market face is limitations related to unknown severe side effects, etc.
A major trend gaining pace in glucagon-like peptide 1 (GLP-1) market is potential clinical application of GLP-1 receptor agonists for the treatment of NASH. There is some evidence to suggest that GLP-1 (glucagon-like peptide-1) may be a useful treatment for NASH.
One study found that treatment with a GLP-1 agonist led to significant improvements in liver function, including reductions in liver fat content, in people with NASH. More trends in the market are believed to augment the growth of glucagon-like peptide 1 (GLP-1) market during the forecasted period include surge in research & development in pharmaceutical sector, new product launches, expanding reimbursement landscape, etc.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic has had a complex and multifaceted impact on the market for GLP-1 (glucagon-like peptide-1) drugs, which are used to treat type 2 diabetes by helping to control blood sugar levels.
The demand for GLP-1 drugs may have increased as a result of the pandemic due to the high prevalence of diabetes and the associated risk of severe illness or death from COVID-19. People with diabetes are at increased risk of complications from COVID-19, including severe illness and death, and may therefore be more motivated to take their medications as prescribed and to manage their blood sugar levels carefully.
Competitive Landscape and Recent Developments:
The key players are constantly investing in strategic initiatives, such as new product launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market.
For instance, Sanofi announced the acquisition of Synthorx, Inc. in January 2020. This acquisition would assist the company in expanding the product portfolio and generating revenue in the coming years by utilizing the expanded genetic alphabet platform technology.
The glucagon-like peptide 1 (GLP-1) market is concentrated with the presence of a few number of players majorly dominating worldwide.
Market Dynamics
Growth Driver
- Rising Cases of Diabetes
- Rising Cases of Obesity
- Rapid Urbanization
- Increasing Healthcare Expenditure
- Increasing Aging Population
Challenges
- Short Half-Life of Glucagon-like Peptide 1 (GLP-1) Receptor Agonists
- Unknown Severe Side Effects
Market Trends
- Potential Clinical Application of GLP-1 Receptor Agonists For the Treatment of NASH
- Surge in Research & Development in Pharmaceutical Sector
- New Product Launches
- Expanding Reimbursement Landscape
Global Market Analysis
- Market: An Analysis
- Market: An Overview
- Market by Value
- Market by Product (Trulicity, Ozempic, Victoza, Rybelsus and Other GLP 1 Products)
- Market by Route of Administration (Injectable and Oral Medication)
- Market by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa)
Key players of the glucagon-like peptide 1 (GLP-1) market are:
- Sanofi
- Pfizer Inc.
- AstraZeneca PL
- Eli Lilly and Company
- Novo Nordisk A/S
- Shanghai Benemae Pharmaceutical Corporation
- Jiangsu Hansoh Pharmaceutical Group Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/7j13a4-glucagon?w=5
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