GLP-1 receptor agonist drugs are highly efficient in controlling blood sugar levels and promoting weight loss in patients with type 2 diabetes. Some of the popular classes of GLP-1 receptor agonist drugs available in the market include exenatide, liraglutide, and semaglutide. These drugs stimulate insulin secretion, suppress glucagon secretion, delay gastric emptying, and induce satiety, thereby playing a vital role in the management of diabetes.
Global GLP-1 receptor agonist market is estimated to be valued at USD 25.10 Bn in 2024 and is expected to reach USD 55.70 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.1% from 2024 to 2031.
Key Takeaways
Key players operating in the GLP-1 receptor agonist market include Novo Nordisk, Eli Lilly, Sanofi, AstraZeneca, and Pfizer. Novo Nordisk's Victoza and Ozempic brand drugs currently dominate the global GLP-1 receptor agonist drug market.
The rising prevalence of lifestyle diseases such as obesity and diabetes presents significant growth opportunities for players in the GLP-1 receptor agonist market. Furthermore, increasing awareness about the benefits of GLP-1 drugs over conventional anti-diabetic medications is expected to boost market revenue.
Geographically, North America currently accounts for the largest share of the GLP-1 Receptor Agonist Market Size due to the growing diabetic population. However, Asia Pacific is expected to witness the fastest CAGR over the forecast period due to growing healthcare expenditures and rapidly developing healthcare infrastructure in the region.
Market Drivers
The increasing global prevalence of diabetes due to obesity, sedentary lifestyle, junk food consumption and other factors is a major driver for the growth of the GLP-1 receptor agonist market. According to International Diabetes Federation, around 537 million adults were living with diabetes in 2021 worldwide. This rising diabetic population has increased the demand for efficient management of blood glucose levels through drugs like GLP-1 receptor agonists.
PEST Analysis
Political: The market is influenced by various regulations introduced by governing bodies like FDA for approval of new drugs and regular monitoring of quality, which safeguard patient safety.
Economic: General economic conditions of a country/region like GDP growth, income levels, healthcare expenditure have a strong bearing on the demand trends in this market.
Social: Growing aged population base suffering from lifestyle diseases like diabetes drives the need for effective treatment options. Also social awareness regarding benefits of therapeutics supports adoption.
Technological: Continuous R&D activities for development of advanced drug delivery systems, combination therapies results in launch of novel products with superior efficacy and safety profiles helping drive replacement sales. Artificial intelligence and digital technologies also aid optimizing clinical trials and commercialization.
Geographical Concentration
North America accounts for a majority share in terms of value in the GLP-1 receptor agonist market. Presence of established healthcare infrastructure, large patient population and high obesity rates contribute to the growth. Similarly, Western European countries also represent a sizable portion owing to growing medical tourism coupled with high healthcare spends.
Fastest Growing Region
However, Asia Pacific region is projected to witness the highest CAGR over the forecast period due to rising lifestyle diseases, increasing healthcare access and expanding middle class willing to spend on quality treatment options.Furthermore,large diabetes burden countries like China and India becoming hotspots for global pharmaceutical companies to target with their portfolio of innovative therapies.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
