New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLP-1 Receptor Agonist Global Market Report 2023" - https://www.reportlinker.com/p06464037/?utm_source=GNW
, Innovent Biologics Inc., Jiangsu Hengrui Medicine Co., Sun Pharmaceuticals Industries Ltd., 9 Meters Biopharma Inc., Intarcia Therapeutics Inc., Amylin Pharmaceuticals Inc., and PegBio Co. Ltd.
The global GLP-1 receptor agonist market is expected to grow from $12.48 billion in 2022 to $13.07 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The GLP-1 receptor agonist market is expected to reach $15.54 billion in 2027 at a CAGR of 4.4%.
The GLP-1 receptor agonist market consists of sales of dulaglutide, bydureon b-cise, exenatide, and semaglutide.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A GLP-1 receptor agonist is a type of medication that stimulates insulin release at high blood glucose levels and suppresses glucagon secretion under low blood glucose conditions. They are used to treat type 2 diabetes mellitus.
North America was the largest region in the GLP-1 recepto agonist market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the GLP-1 recepto agonist market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main drug class of GLP-1 receptor agonist are liraglutide, dulaglutide, lixisenatide, and others.Liraglutide is a GLP-1 receptor agonist that acts by helping the pancreas to release the right amount of insulin when blood sugar levels are high.
The route of administration involved are parenteral, and oral which are used by hospitals, surgical clinics, and others.
The rising prevalence of diabetes is expected to propel the GLP-1 receptor agonist market going forward.Diabetes is a chronic illness that develops when the pancreas either produces insufficient amounts of insulin or when the body cannot properly utilize the insulin that it does.
High blood sugar is a symptom of the metabolic disorder diabetes mellitus.GLP-1 receptor agonist is used in diabetes to stimulate the body to produce more insulin, which helps to lower blood sugar levels, so the rising prevalence of diabetes will propel the market growth.
For instance, in December 2021, according to the International Diabetes Federation, a Belgium-based umbrella organization of over 230 national diabetes associations, the global population living with diabetes is approximately 537 million adults and further it is projected to rise to 643 million by 2030. Therefore, the rising prevalence of diabetes is driving the GLP-1 receptor agonist market.
Product innovations are a key trend gaining popularity in the GLP-1 receptor agonist market.Major companies operating in the GLP-1 receptor agonist market are focused on developing innovative solutions to strengthen their position.
For instance, in May 2022, Eli Lilly and Company, a US-based pharmaceutical company that creates medicines that make life better for people, launched the FDA-approved new Mounjaro, a GIP and GLP-1 receptor agonist.It is specially designed using a single molecule that turns on the body’s receptors for the incretin hormones GIP and GLP-1.
It is available as a pen auto-injector with a pre-attached, hidden needle that patients do not need to handle or see, and it comes in 6 doses.
In February 2022, Sanofi S.A., a France-based pharmaceutical and healthcare company that provides life-changing treatments, acquired Amunix Pharmaceuticals Inc. for an undisclosed amount. Through this acquisition, combined resources with Sanofi are expected to provide access to various products and technologies to Sanofi that can deliver next-generation conditionally activated biologics. Amunix Pharmaceuticals Inc. is a US-based immuno-oncology company that develops (GLP-1) receptor agonists and transformative therapies for cancer.
The countries covered in the GLP-1 recepto agonist market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The GLP-1 receptor agonist market research report is one of a series of new reports that provides GLP-1 receptor agonist market statistics, including GLP-1 receptor agonist industry global market size, regional shares, competitors with GLP-1 receptor agonist market share, detailed GLP-1 receptor agonist market segments, market trends, and opportunities, and any further data you may need to thrive in the GLP-1 receptor agonist industry. This GLP-1 receptor agonist market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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