by The global GLP-1 Receptor Agonist Market is estimated to be valued at US$ 14319.85 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
The GLP-1 receptor agonist market consists of drugs that mimic the effects of the natural incretin hormone glucagon-like peptide-1 (GLP-1). These drugs are used for the treatment of type 2 diabetes as they lower blood sugar levels by stimulating the release of insulin from the pancreas and inhibiting the release of glucagon. They also promote feelings of fullness and satiety, resulting in weight loss. Some examples of GLP-1 receptor agonists include exenatide, liraglutide, semaglutide, albiglutide, dulaglutide etc. The drugs offer advantages such as better management of post-prandial and fasting glucose levels, low risk of hypoglycemia and weight loss benefits. Due to their effectiveness in combination with oral antidiabetic drugs or as monotherapy, demand for these drugs is rising significantly.
Market key trends:
One of the key trends in the market is the introduction of newer generations of GLP-1 receptor agonists. Drug manufacturers are focused on developing once-weekly formulations with longer duration of action and improved clinical efficacy. For instance, semaglutide is the first GLP-1 receptor agonist approved for once-weekly administration. Its effect lasts for over 10 days with a single dose. Another example is tirzepatide, which is a dual GIP and GLP-1 receptor agonist with sustained glucose lowering and weight reducing properties. Its Phase 3 data showed superior A1C and weight reduction compared to other agents. Such innovative drug formulations with enhanced clinical benefits are expected to drive revenue growth in the market over the forecast period.
Porter’s Analysis
Threat of new entrants: The high costs associated with R&D and clinical trials pose a barrier for new players in the market. Bargaining power of buyers: The presence of substitutes and buyer expertise puts pressure on profit margins in the industry. Bargaining power of suppliers: The patented nature of therapies results in dependency on key pharmaceutical companies for supplies. Threat of new substitutes: Emergence of biosimilars and alternative therapies can impact sales volumes of existing players. Competitive rivalry: Presence of global leaders like Novo Nordisk maintains competitive pressure in terms of pricing and innovation.
Key Takeaways
The Global GLP-1 Receptor Agonist Market Size is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing prevalence of obesity and diabetes.
Regionally, North America dominates the GLP-1 Receptor Agonist Market currently and is expected to continue its dominance over the forecast period. This is attributed to growing obesity rates and rising adoption of therapeutic injectables in the region. However, Asia Pacific is anticipated to exhibit the fastest growth owing to increasing healthcare spending and expanding patient pool.
Key players operating in the GLP-1 Receptor Agonist market are Eli Lilly and Company, GlaxoSmithKline plc, Novo Nordisk, PegBio Co., Ltd., AstraZeneca, Intarcia Therapeutics, Inc., Amylin Pharmaceuticals, Inc., Sanofi, Hanmi Pharm. Co., Ltd., Pfizer Inc., Amgen Inc., Innovent Biologics, Jiangsu Hengrui Medicine Co., Sun Pharmaceuticals Industries Ltd., and 9 Meters Biopharma, Inc. Players are focusing on developing innovative delivery systems and expanding regional footprint through strategic collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
