by GLP-1 receptor agonists are synthetic peptides that mimic the effects of endogenous GLP-1. These drugs help control blood sugar levels in patients with type 2 diabetes and promote weight loss. GLP-1 receptor agonists work by stimulating the release of insulin from pancreatic β-cells. They are also involved in delaying gastric emptying which helps people with diabetes feel full for longer and consume fewer calories. As the incidences of obesity and diabetes continue to rise globally, the demand for anti-diabetic drugs with additional weight management benefits is increasing significantly. According to recent estimates, over 460 million people currently suffer from diabetes worldwide and nearly 2 billion people are overweight or obese. The high and growing prevalence of obesity and diabetes-related health conditions is the main driver propelling the global GLP-1 receptor agonist market.
The global GLP-1 Receptor Agonist Market is estimated to be valued at US$ 12.3 billion in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Long-acting formulations are gaining prominence in the GLP-1 receptor agonist drug class. Various pharmaceutical companies are focusing on developing once-weekly drugs to improve patient compliance over daily injections. Some examples include semaglutide (Ozempic) from Novo Nordisk, dulaglutide (Trulicity) from Eli Lilly, and albiglutide (Tanzeum) from GlaxoSmithKline. These long-acting drugs have demonstrated strong clinical efficacy and better adherence rates. Their gradual market uptake is positively impacting the overall revenue growth of the GLP-1 receptor agonist market.
Porter’s Analysis:
Threat of new entrants: Moderate. High capital requirement for R&D and manufacturing acts as a barrier for new players.
Bargaining power of buyers: Moderate. Presence of several treatment options provides buyers with bargaining power.
Bargaining power of suppliers: Moderate. Requirement of specialized components limits the number of suppliers.
Threat of new substitutes: High. Emergence of novel drug classes targeting metabolic diseases can substitute GLP-1 receptor agonists.
Competitive rivalry: High. The market is dominated by few big players resulting in high competition.
Key Takeaways:
The Global GLP-1 Receptor Agonist Market Demand is expected to witness high growth.
Regional analysis: North America dominates the market currently owing to increasing prevalence of diabetes and obesity. However, Asia Pacific is expected to be the fastest growing market during the forecast period with countries like China and India being major revenue generators.
Key players operating in the GLP-1 Receptor Agonist Market are Novo Nordisk, Eli Lilly, AstraZeneca, Sanofi, Novartis, Merck, Pfizer, GSK. Novo Nordisk dominates the market with its leading drug products Victoza, Ozempic and Rybelsus.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
