GLP-1 Receptor Agonists is fastest growing segment fueling the growth of GLP-1 Receptor Agonist Market
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 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
GLP-1 receptor agonists are injectable drug products used for the treatment of type 2 diabetes. They work by stimulating the release of insulin from pancreatic beta cells and suppressing glucagon secretion. The increasing prevalence of diabetes worldwide is driving the demand for GLP-1 receptor agonist products.
Market key trends:
One of the key trends in the GLP-1 receptor agonist market is the pipeline of novel once-weekly formulations. Several pharmaceutical companies are engaged in developing longer-acting GLP-1 receptor agonists that require less frequent dosing than existing daily formulations. This is expected to improve patient compliance and convenience. Additionally, manufacturers are investing in the development of oral GLP-1 receptor agonists to overcome limitations associated with injections. This is anticipated to boost the adoption of GLP-1 receptor agonists if successfully developed.
Segment Analysis
The global GLP-1 receptor agonist market is segmented based on type and application. Based on type, the market is categorized into exenatide, liraglutide, lixisenatide, dulaglutide, and albiglutide. Among these, the liraglutide segment dominates the market and accounted for the largest revenue share in 2022. Liraglutide has a longer duration of action and is administered once daily via subcutaneous injection, which makes it a preferred treatment option over other GLP-1 receptor agonists.
Key Takeaways
The Global GLP-1 Receptor Agonist Market Size is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing prevalence of diabetes globally. Approvals of new line extensions along with novel oral formulations will also support market growth.
Regional analysis: North America dominates the GLP-1 receptor agonist market currently owing to established healthcare systems and early approvals of innovative drugs. Asia Pacific is emerging as the fastest growing regional market due to rising diabetes burden, healthcare reforms and expanding access.
Key players operating in the GLP-1 receptor agonist market are Eli Lilly and Company, GlaxoSmithKline plc, Novo Nordisk A/S, PegBio Co., Ltd., AstraZeneca, Intarcia Therapeutics, Inc., Amylin Pharmaceuticals, Inc., Sanofi, Hanmi Pharm. Co., Ltd., Pfizer Inc., Amgen Inc., Innovent Biologics, Jiangsu Hengrui Medicine Co., Sun Pharmaceuticals Industries Ltd., and 9 Meters Biopharma, Inc.
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