by Market Overview:
Glucagon like peptide 1 analogs are used for the treatment of type 2 diabetes. They help in controlling blood sugar levels by stimulating the release of insulin from the pancreas and suppressing the release of glucagon. They offer advantages like weight loss and low risk of hypoglycemia.
The global Glucagon Like Peptide 1 Analogs Market is estimated to be valued at US$ 11.87 Bn or Mn 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.
Market key trends:
One of the key trends in the Glucagon like peptide 1 analogs market is the introduction of newer formulations. Manufacturers are focused on developing GLP-1 analogs with improved efficacy, safety and tolerability profiles. For instance, in 2021, Novo Nordisk launched Rybelsus oral semaglutide tablet indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes. Oral semaglutide offers easier administration compared to injectables. Moreover, increasing prevalence of obesity and diabetes are expected to drive the demand for GLP-1 analogs for glycemic control and weight management over the forecast period.
SWOT Analysis
Strength: Glucagon Like Peptide 1 analogs have the advantage of being safer alternative to insulin injections for treating type 2 diabetes. They are also associated with weight loss which is an added benefit.
Weakness: GLP-1 analogs need to be administered via injections which many patients dislike. Their high cost is also a limiting factor in wider adoption.
Opportunity: Growing prevalence of type 2 diabetes worldwide due to obesity, sedentary lifestyle is increasing the potential patient pool for GLP-1 analogs. Their added weight loss property can boost their uptake.
Threats: Potential side effects like nausea associated with GLP-1 analogs and development of alternative newer treatment options pose a threat to their future growth. Patent expiries of major brands can increase competition.
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 type 2 diabetes worldwide. According to International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 which is projected to rise to 643 million by 2030.
Regional analysis: North America is expected to dominate the Glucagon Like Peptide 1 Analogs Market owing to growing obese population suffering from diabetes in the US. However, Asia Pacific is predicted to be the fastest growing market due to rising affordability and awareness about newer diabetes drugs in major countries like China and India.
Key players operating in the Glucagon Like Peptide 1 Analogs market are AstraZeneca, Eli Lilly and Company, Sanofi, Novo Nordisk A/S, Pfizer Inc. AstraZeneca’s Bydureon brand, Lilly’s Trulicity and Novo Nordisk’s Victoza and Ozempic are some of the top selling GLP-1 analogs making these companies leaders in this market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
