The Glucagon Like Peptide 1 Analogs Market Is Estimated To Witness...

The Glucagon Like Peptide 1 Analogs Market Is Estimated To Witness High Growth Owing To Rising Prevalence of Obesity and Diabetes

Сообщение 2023-12-08 11:08:23

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Market Overview:
Glucagon like peptide 1 (GLP-1) analogs are injectable medications used to control blood sugar levels in patients with type 2 diabetes. They work by stimulating the production of insulin from the pancreas and suppressing glucagon secretion. GLP-1 analogs help lower blood sugar levels in patients with type 2 diabetes. They offer various advantages over other anti-diabetic drugs such as weight loss, low risk of hypoglycemia, and protective effects on pancreatic beta cells. With rising prevalence of diabetes globally, the demand for safer and effective treatment options is also increasing.

The Glucagon Like Peptide 1 Analogs Market is estimated to be valued at US$ 11.87 Bn in 2023 and is expected to exhibit a CAGR of 1.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
The Glucagon Like Peptide 1 Analogs market is segmented based on type and application. Exenatide is the dominating sub segment under type segment. Nearly half of the total Glucagon Like Peptide 1 Analogs market share is captured by Exenatide owing to its effectiveness in managing blood glucose level and ensuring weight loss in patients with type 2 diabetes.

Key Takeaways
The Global Glucagon Like Peptide 1 Analogs Market Size is expected to witness high growth, exhibiting a CAGR of 1.1% over the forecast period, due to increasing prevalence of diabetes globally. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 and the figure is expected to rise to 783 million by 2045.

Regional analysis: North America currently dominates the market owing to rising obese and diabetic population, stringent control over blood glucose levels and favorable reimbursement scenario. However, Asia Pacific is anticipated to register highest CAGR during the forecast period propelled by growing geriatric population, changing lifestyles and increasing healthcare expenditure in countries like India and China.

Key players: Key players operating in the Glucagon Like Peptide 1 Analogues market are AstraZeneca, Eli Lilly and Company, Sanofi, Novo Nordisk A/S, Pfizer Inc. Eli Lilly and Novo Nordisk together control over 90% of the global GLP-1 analogue market with their dominant brands Byetta, Victoza, Trulicity and Ozempic. The market is witnessing rising generic competition and newer entrants with novel formulations.

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