The glucagon-like peptide 1 (GLP-1) analogs market offers several advantages over other diabetes therapies. GLP-1 analogs help in better glycemic control along with minimal risks of hypoglycemia and weight gain.
They also confer additional benefits of cardiovascular protection and potential risk reduction for kidney and neurological complications of diabetes. The increasing prevalence of type 2 diabetes globally is a major factor driving the Glucagon-Like Peptide 1 Analogs Market Demand.
The Global glucagon-like peptide 1 (GLP-1) analogs market is estimated to be valued at US$ 14.5 billion in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the glucagon-like peptide 1 (GLP-1) analogs market are Novo Nordisk, Eli Lilly, Sanofi, AstraZeneca, copyright, and others. These companies are focusing on developing innovative products and exploring opportunities in emerging markets to expand their geographic footprints. The growing geriatric population, increasing health awareness, and availability of products in low and middle-income countries present significant growth opportunities. Global players are actively pursuing acquisitions and partnerships with regional/local players to establish manufacturing and distribution networks in international markets.
The main opportunities in the GLP-1 analogs market include stronger brand positioning of products via promotional campaigns highlighting cardiovascular benefits, penetration into developing countries, and co-marketing with devices. Companies are continuously working to gain regulatory approvals for new line extensions and novel delivery systems. International expansion allows diversifying revenue streams and mitigating risks from market saturation in developed countries. Key players foresee substantial potential in Asia Pacific and Middle Eastern regions over the next decade.
Market Drivers
One of the key drivers for the GLP-1 analogs market is the increasing prevalence of diabetes globally. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021, and the number is projected to rise to 643 million by 2030 and 783 million by 2045. The growing diabetic population and stringent glycemic control needs are fueling the demand for effective therapies. Superior efficacy in terms of better glycemic control and low risks of weight gain and hypoglycemia compared to other drugs is boosting the adoption of GLP-1 analogs.
Market Restrains
High drug costs, stringent regulatory approvals, and longer treatment duration are some of the major obstacles restraining the market growth. GLP-1 analogs are significantly expensive compared to conventional anti-diabetic drugs, restricting their usage in cost-sensitive developing and underdeveloped regions. Safety concerns regarding pancreatitis and pancreatic/thyroid cancers also raise doubts among physicians and patients regarding the risk-benefit profile. Co-administration with basal insulin may compromise the cardiovascular benefits and increase complexity of treatment regimens. These factors call for more clinical evidence before their wider acceptance.
Segment Analysis
The Glucagon Like Peptide 1 Analogs market Size is dominated by the exenatide segment. Exenatide, sold under the brand name Byetta among others, was the first glucagon-like peptide-1 receptor agonist approved for clinical use. It was approved by the FDA in 2005 for the treatment of type 2 diabetes and remains the largest selling GLP-1 analog on the market. Exenatide is administered through subcutaneous injection twice daily before meals. Its small molecular size allows it to be administered non-invasively through injection rather than intravenous infusion. The convenience of oral administration has made exenatide a preferred treatment option for many patients and physicians, driving its market dominance over other GLP-1 analogs that must be intravenously administered.
Global Analysis
The North America region currently dominates the Glucagon Like Peptide 1 Analogs market owing to high awareness regarding diabetes treatment options and significant reimbursement coverage for GLP-1 analogs in countries like the US. North America is expected to continue its market leadership during the forecast period owing to growing prevalence of diabetes and increasing promotion of GLP-1 analogs as the standard of care for type 2 diabetes treatment. The Asia Pacific region is anticipated to witness the fastest growth during the forecast period attributed to rising diabetes incidence, growing healthcare spending, and expanding medical infrastructure in highly populated countries like China and India.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)