|
(Health-NewsWire.Net, October 29, 2024 ) The global GLP-1 analogues market is poised for substantial growth, projected to expand from USD 47.4 billion in 2024 to USD 471.1 billion by 2032, at a robust CAGR of 33.2%. Key drivers include the drugs' efficacy in managing diabetes and obesity, driving high demand and clinical research advancements. The market is dominated by two major players, Novo Nordisk A/S and Eli Lilly and Company, creating significant entry barriers. Opportunities lie in expanding therapeutic applications beyond diabetes to include conditions like NASH and Alzheimer's disease. However, challenges such as patient non-adherence and the dominance of injectable formats hinder market growth. North America leads in market share, supported by accessibility and demand for GLP-1 analogues. Key players like Novo Nordisk, Eli Lilly, Sanofi, and AstraZeneca are pivotal in shaping market dynamics through extensive R&D and strategic expansions.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218746186&utm_source=emailwire.com&utm_medium=referral&utm_campaign=GLP-1analoguesmarket
Browse in-depth TOC on "GLP-1 Analogues Market".
405 - Tables
59 - Figures
315 - Pages
Ozempic Leads the Charge in the GLP-1 Analogue Market
In 2023, Ozempic (semaglutide) dominated the GLP-1 Analogue market, buoyed by its significant revenue contribution and broad global application for diabetes treatment. Its market presence extends to obesity treatment under the brand Wegovy in Brazil, with a notable growth rate of approximately 70% from 2019 to 2023. Such robust performance underscores Ozempic's pivotal role in driving market expansion throughout the forecast period.
Single-Dose Formats Propel Growth in GLP-1 Analogue Adoption
The single-dose segment held the largest share of the GLP-1 Analogue market in 2023, a trend expected to persist. This dominance is attributed to the convenience and enhanced adherence facilitated by products like WEGOVY and TRULICITY, which offer comfortable weekly self-administration via autoinjectors. These advantages are set to bolster the segment's growth moving forward.
Subcutaneous Administration Commands Market Preference
In 2023, subcutaneous administration accounted for the largest market share in the GLP-1 Analogue segment, leveraging its ability to bypass gastrointestinal adverse effects and deliver rapid therapeutic effects. This preference is bolstered by the availability of diverse injector types, including pen injectors and autoinjectors, catering to varied patient needs.
Diabetes Indication Spearheads GLP-1 Analogue Market
The diabetes indication segment emerged as the largest in the GLP-1 Analogue market in 2023, driven by increasing demand for effective Type-2 Diabetes management. This growth is further supported by a robust research and development pipeline focusing on enhancing therapeutic outcomes compared to other antidiabetic drug classes.
Home Care Settings Drive GLP-1 Analogue Adoption
Home care settings dominated the GLP-1 Analogue market in 2023, facilitated by the convenience and patient adherence advantages offered by at-home drug administration. This trend is augmented by the expanding utilization of GLP-1 Analogue drugs in treating obesity outside traditional healthcare facilities.
North America Poised for Significant Growth in GLP-1 Analogue Market
North America, particularly the US, is expected to exhibit the highest growth rate in the GLP-1 Analogue market during the forecast period. This projection stems from increasing adoption of GLP-1 drugs for diabetes and obesity treatment, supported by well-established healthcare infrastructure and favorable reimbursement frameworks.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=218746186&utm_source=emailwire.com&utm_medium=referral&utm_campaign=GLP-1analoguesmarket
Dominance of Novo Nordisk A/S in the GLP-1 Analogue Market
Novo Nordisk A/S (Denmark) stands as a pivotal force in the GLP-1 Analogue market, boasting a diverse product portfolio highlighted by flagship products like Ozempic and Wegovy. The company's extensive global distribution channels and robust R&D efforts underscore its leadership in insulin and GLP-1 manufacturing worldwide. Novo Nordisk's focus on developing oral formulations of existing GLP-1 drugs further enhances patient convenience and therapeutic efficacy.
Eli Lilly and Company's Strategic Expansion in GLP-1 Analogue Market
Eli Lilly and Company (US) plays a prominent role in advancing the GLP-1 Analogue market, with significant investments exceeding USD 9 billion in R&D during 2023 alone. The company's commercialized products, including Mounjaro, Trulicity, and Zepbound, contribute substantially to its revenue, with Trulicity and Mounjaro jointly accounting for approximately 36% of total earnings in 2023. Eli Lilly's ongoing focus on expanding its clinical pipeline reinforces its competitive position in the market.
Sanofi's Global Presence and Regulatory Advancements
Sanofi (France) maintains a strong foothold in the GLP-1 Analogue market through products like Soliqua, marketed in over 80 countries worldwide. The company's strategic approach includes securing regulatory approvals across diverse geographies, exemplified by recent approvals in China for Soliqua to enhance glycemic control in adults with type 2 diabetes. Sanofi's expansive geographic reach and rigorous regulatory strategies position it as a key player driving market growth and accessibility.
MarketsandMarkets™
Mr. Rohan Salgarkar
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
|
