GLP-1 receptor agonists are injectable medications used to control blood sugar levels in patients with type 2 diabetes. The drugs work by stimulating the release of insulin from the pancreas and suppressing glucagon secretion which helps control blood glucose levels. In addition, these drugs can help with weight loss by reducing appetite.
The global GLP-1 Receptor Agonist Market is estimated to be valued at US$ 11.5 billion in 2023 and is expected to exhibit a CAGR of 17.% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The expanding patient base is one of the key trends driving the growth of the GLP-1 receptor agonist market. The rising prevalence of diabetes globally has boosted the demand for effective diabetes management drugs. As per the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide and the number is projected to rise to 643 million by 2030 and 783 million by 2045. Moreover, obesity is a major risk factor for type 2 diabetes and according to the World Health Organization, nearly 650 million adults are obese worldwide. The dual benefits of blood glucose control as well as weight management offered by GLP-1 receptor agonists have increased their acceptance among diabetic patients with comorbid obesity or overweight conditions.
Segment Analysis
The global GLP-1 receptor agonist market is dominated by the diabetes segment. Within the diabetes segment, the exenatide and liraglutide sub-segments collectively account for over 70% of market share. This is because exenatide and liraglutide were the earliest GLP-1 receptor agonists to be approved for treatment of type 2 diabetes and have demonstrated consistent efficacy in controlling blood sugar levels.
Key Takeaways
The Global GLP-1 Receptor Agonist Market Growth is expected to witness high over the forecast period of 2024 to 2031.
Regional analysis: North America currently dominates the market due to presence of major players and faster uptake of new diabetes drugs in the region. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period supported by rising prevalence of diabetes in countries like China and India.
Key players: Key players operating in the GLP-1 receptor agonist market are Novo Nordisk, Eli Lilly, Sanofi, AstraZeneca, Pfizer. Novo Nordisk leads the global GLP-1 receptor agonist market with drugs like Victoza and Ozempic accounting for over 50% global market share. Eli Lilly's Trulicity is another top-selling GLP-1 receptor agonist.
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