SEATTLE, Oct. 06, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights’ analysis, the global GLP-1 receptor agonist market is estimated to be valued at US$ 12,720.6 million in 2021 and is expected to exhibit a CAGR of 6.1% over the forecast period (2021-2028).
Key Trends and Analysis of the Global GLP-1 Receptor Agonist Market:
Key trends in the market include increasing incidence of diabetes and obesity, increasing launches and approval of novel products, and increasing collaborations and acquisitions among key players. These key trends are expected to aid in growth of GLP-1 receptor agonist market.
For instance, according to the statistics published in the International Diabetes Federation Diabetes Atlas ninth edition 2019, it was estimated that around 463 million people aged 20 - 79 years were living with diabetes worldwide in 2019 and it is expected to increase to 700 million by the end of 2045. The same source also stated that around 4.2 million deaths were caused due to diabetes globally in 2019.
Moreover, increasing approvals of novel products is expected to drive the market growth over the forecast period. For instance, in June 2020, Novo Nordisk A/S, a Denmark-based pharmaceutical company, announced the approval of its oral drug Rybelsus (semaglutide) from the Japanese Ministry of Health, Labour and Welfare. Rybelsus is GLP-1 receptor agonist drug which falls under the drug class semaglutide and is available in the form of a tablet to treat people suffering from Type-2 diabetes.
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Furthermore, key players operating in the global GLP-1 receptor agonist market are focusing on adoption of inorganic growth strategies such as acquisitions, distributive agreements, and collaborations, in order to expand their market presence in the global market. For instance, in September 2018, Chugai Pharmaceutical Co., Ltd., a Japan-based drug manufacturer, entered into a distributive agreement with Eli Lilly and Company, a U.S.-based pharmaceutical company, for its oral GLP-1 receptor agonist drug, OWL833. OWL833 is indicated for the treatment of patients suffering from Type-2 diabetes.
Key Market Takeaways:
The global GLP-1 receptor agonist market is expected to exhibit a CAGR of 6.1% over the forecast period, owing to rise in product launches and regulatory approvals. For instance, in September 2019, the U.S. Food and Drug Administration (FDA) approved the first oral GLP-1 receptor agonist drug, Rybelsus (semaglutide) which is manufactured by Novo Nordisk A/S. Rybelsus (semaglutide) is indicated for the treatment of Type-2 diabetic people.
Among drug class, dulaglutide segment accounted for the largest market share in 2021, owing to market players focusing on obtaining drug approvals. For instance, in February 2020, the U.S. Food and Drug Administration (FDA) approved a GLP-1 receptor agonist drug Trulicity (dulaglutide), manufactured by Eli Lilly and Company. Trulicity (dulaglutide) can be used to reduce the risk of major adverse cardiovascular events (MACE) in adults suffering from Type-2 diabetes.
Competitive Landscape:
Key players operating in the global GLP-1 receptor agonist market include Eli Lilly and Company, GlaxoSmithKline plc, Novo Nordisk A/S, 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.
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Market Segmentation:
- Global GLP-1 Receptor Agonist Market, By Drug Class:
- Exenatide
- Liraglutide
- Dulaglutide
- Lixisenatide
- Albiglutide
- Semaglutide
- Global GLP-1 Receptor Agonist Market, By Route of Administration:
- Parenteral
- Oral
- Global GLP-1 Receptor Agonist Market, By Application:
- Type 2 Diabetes Mellitus
- Obesity
- Liver Cirrhosis
- Non-alcoholic Steatohepatitis
- Others (Others include Cardiovascular Disease and Type-1 Diabetes)
- Global GLP-1 Receptor Agonist Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global GLP-1 Receptor Agonist Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
- North America
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