GLP-1 receptor agonists are regulatory hormones primarily used for weight management and glycemic control in patients suffering from type 2 diabetes. These drugs mimic the effects of naturally occurring glucagon-like peptide-1(GLP-1) by stimulating insulin secretion and inhibiting glucagon secretion in a glucose-dependent manner. They also suppress appetite and promote weight loss. The growing prevalence of diabetes, obesity, and other lifestyle-related disorders has considerably raised the demand for efficacious drug treatments.
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:
One of the primary trends fueling the growth of the GLP-1 receptor agonist market is the expanding applications beyond glycemic control in diabetes care. Several ongoing clinical trials are evaluating the efficacy of these drugs for treating non-alcoholic steatohepatitis (NASH), ulcerative colitis, obesity, thyroid cancer, and various neurodegenerative disorders including Alzheimer's disease. The cardioprotective effects demonstrated by GLP-1 receptor agonists in reducing cardiovascular risk among diabetics has also increased research on their therapeutic potential for heart failure. If proven successful, these novel indications will significantly increase the consumer base for GLP-1 receptor agonists globally.
Segment Analysis
The global GLP-1 Receptor Agonist market is segmented by route of administration into injectable, oral, and others. The injectable segment dominates the market and accounts for the largest share. This is due to the high efficacy and reliability associated with injectable GLP-1 receptor agonists in managing diabetes. They provide better glycemic control as compared to oral medications.
Key Takeaways
The Global GLP-1 Receptor Agonist Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America is expected to maintain its leading position in the global market during the forecast period. This is attributed to the high diagnosis and treatment rates for diabetes in countries such as the US and Canada. Furthermore, growing awareness regarding the benefits of GLP-1 receptor agonists and their advantages over conventional anti-diabetic drugs is also boosting the market growth in the region.
Key players operating in the GLP-1 Receptor Agonist market are 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, REC Group.
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