Glucagon Like Peptide 1 Analogs Is Estimated To Witness High Growth...

Glucagon Like Peptide 1 Analogs Is Estimated To Witness High Growth Owing To Increasing Prevalence Of Diabetes

Сообщение 2023-12-21 09:46:58

1Кб

Glucagon-like peptide 1 (GLP-1) analogs are injectable drugs used to treat type 2 diabetes. They work by stimulating the release of insulin from the pancreas, suppressing glucagon secretion, and slowing gastric emptying which leads to a reduction in post-prandial glycemia. GLP-1 analogs such as Exenatide and Liraglutide are prescribed as an adjunct to diet and exercise to improve glycemic control in patients not achieving HbA1c goals. The global 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 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The growth of the glucagon like peptide 1 analogs market is majorly driven by the increasing prevalence of diabetes. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 globally and the number is expected to rise to 643 million by 2030 and 783 million by 2045. Since GLP-1 analogs play an important role in the management of type 2 diabetes by improving glycemic control, their demand is expected to rise significantly over the forecast period. Another driver for the market growth is the advancement in drug delivery technologies. Companies are focusing on developing GLP-1 analogs with improved efficacy, stability, and safety through novel drug formulations and delivery routes such as oral, pulmonary, transdermal among others which will drive the market growth during the forecast period.

SWOT Analysis

Strength: Glucagon Like Peptide 1 Analogs have revolutionary effects in managing diabetes and obesity. Their mechanism of action exhibits glycemic control as well as weight loss capabilities. These analogs showed impressive results in clinical trials with low potential for hypoglycemia.

Weakness: The commercialization and use of GLP 1 analogs requires injections which may reduce patient compliance. Their high costs can also limit widespread adoption compared to conventional oral drugs.

Opportunity: With rising prevalence of diabetes and obesity globally, the sizable patient pool indicates massive market potential for GLP 1 analogs. Their superiority over existing therapies provides opportunities to capture higher market share through effective marketing strategies.

Threats: Expiry of patents may increase competition from cheaper biosimilars, pressurizing brand premiums. Stringent regulatory norms can also delay market approvals, undermining first-mover advantages.

Key Takeaways
The global Glucagon Like Peptide 1 Analogs market forecast is expected to witness high growth over the forecast period of 2023 to 2030. North America dominated over 40% market share in 2023 owing to rising incidence of diabetes and early adoption of innovative therapies.

Asia Pacific region is estimated to be the fastest growing regional market owing to growing obesity population and strict government measures to curb diabetes prevalence. Key players operating in the region are exploring opportunities through tie-ups with local generic manufacturers and distributors to expand market reach.

Key players
Key players operating in the Glucagon Like Peptide 1 Analogs market are Koru Pharmaceuticals Co. LTD, Fusion Meso, PerseBelle, Toskani Cosmetics, Demoaroma Italy srl, Pluryal, Messoessence, Galderma Laboratories L.P., Revitacare, Mesoestetic, and DERMEDICS International. These companies are engaged in new product launches and collaboration activities to strengthen their market position.