The global semaglutide market is estimated to be valued at US$ 15.8 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for obesity and weight management drugs is expected to accelerate the growth of the global semaglutide market over the forecast period. According to the World Health Organization, worldwide obesity has nearly tripled since 1975. Obesity is associated with various health issues and diseases including cardiovascular diseases, diabetes, musculoskeletal disorders and some cancers. Semaglutide received FDA approval for chronic weight management in 2021 based on clinical trial data demonstrating its superior efficacy in aiding significant weight loss compared to other drugs. Its ability to induce weight loss along with better glycemic control in type 2 diabetes makes it a preferred treatment option driving its adoption.
Segment analysis
The Global Semaglutide Market Analysis is dominated by obesity segment. Within obesity segment, semaglutide oral tablets sub-segment has captured majority of the share owing to the high efficacy and consistency in weight loss over extended period. Semaglutide oral tablets help in increasing feeling of fullness thereby reducing calorie intake resulting in significant weight loss without compromising on quality of life.
Key Takeaways
The global semaglutide market is expected to witness high growth over the forecast period with a CAGR of 4.0%. The market size is projected to reach US$ 15.8 Bn by 2024 from US$ 13.5 Bn in 2023.
Regional analysis
North America region currently dominates the global semaglutide market and is expected to maintain its dominance over the forecast period. Higher awareness levels regarding diabetes and obesity management and rapid adoption of advanced treatment options drives the market growth in the region. However, Asia Pacific region is projected to grow at the fastest pace owing to rising geriatric population, increasing healthcare expenditure and growing prevalence of diabetes and obesity in the region.
Key players
Key players operating in the semaglutide market include F. Hoffmann-La Roche AG, Boehringer Ingelheim, Bayer AG, Pfizer Inc., Biogen, Daiichi Sankyo, Bristol-Myers Squibb, Johnson & Johnson, AstraZeneca, SanBio and Athersys Inc. F. Hoffmann-La Roche AG dominates the market owing to its innovative products and robust commercial infrastructure for marketing and distribution of semaglutide globally. However, other players are focusing on developing novel drug delivery formulations to capture untapped opportunities.
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