New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Glucagon-like Peptide 1 Global Market Report 2023" - https://www.reportlinker.com/p06486610/?utm_source=GNW
, GSK plc, Merck & Co Inc., Novartis AG, Genentech Inc., AbbVie Inc., and Amgen Inc.
The global glucagon-like peptide 1 market is expected to grow from $18.11 billion in 2022 to $19.51 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. 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, causing inflation across goods and services and affecting many markets across the globe. The glucagon-like peptide 1 market is expected to reach $25.89 billion in 2027 at a CAGR of 7.3%.
The glucagon-like peptide 1 market consists of sales of dulaglutide, albiglutide, semaglutide, and tirzepatide.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.
Glucagon-like peptide 1 refers to a type of amino acid hormone of peptide that is produced in the L-cells of the intestinal epithelial endocrine. Glucagon-like peptide 1 is used to treat diseases and conditions such as diabetes and obesity respectively.
North America was the largest region in the glucagon-like peptide 1 market in 2022. The regions covered in glucagon-like peptide 1 report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main glucagon-like peptide 1 product types are trulicity, ozempic, victoza, rybelsus, and others.Trulicity refers to a prescription medicine that is injectable and is used to improve blood sugar.
The various routes of administration are oral, parenteral, and others used in hospitals, specialty clinics, and others.
The rising prevalence of diabetes is expected to propel the global glucagon-like peptide 1 market going forward.Diabetes is a condition in which the blood sugar, or blood glucose, is too high.
Glucagon-like peptide 1 is a medication used to treat conditions such as type 2 diabetes that may lead to weight loss and improved blood sugar. For instance, in January 2022, according to the National Library of Medicine, a US-based center of biomedical informatics and computational biology, it was estimated that global diabetes prevalence in 20-79-year-olds in 2021 was 10.5% (536.6 million people), and it is expected to increase to 12.2% (783.2 million) in 2045. Therefore, the rising prevalence of diabetes will drive glucagon-like peptide 1.
Technological innovations are a key trend gaining popularity in the global glucagon-like peptide 1 market.Major companies operating in the glucagon-like peptide 1 market are launching new and innovative technologies to sustain their position in the market.
For instance, Novo Nordisk A/S, a Denmark-based pharmaceutical company, launched Wegovy, the first and only once-weekly glucagon-like peptide 1 therapy for weight management.Wegovy successfully completed the STEP Phase 3a clinical trial program and demonstrated a safe and well-tolerated profile across the program.
This product is used by people who struggle with obesity to achieve and maintain weight loss.
In July 2021, Eli Lilly and Company, a US-based pharmaceutical company, acquired Protomer Technologies for approximately $1 billion.The acquisition will provide Eli Lilly with Protomer’s next-generation protein therapeutics and enable them to develop therapeutic peptides and proteins to treat people with diabetes.
Protomer Technologies is a US-based biotechnology company with protein therapeutics, including glucose-responsive insulin for diabetes therapy.
The countries covered in the glucagon-like peptide 1 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 glucagon-like peptide 1 market research report is one of a series of new reports that provides glucagon-like peptide 1 market statistics, including glucagon-like peptide 1 industry global market size, regional shares, competitors with a glucagon-like peptide 1 market share, detailed glucagon-like peptide 1 market segments, market trends and opportunities, and any further data you may need to thrive in the glucagon-like peptide 1 industry. This glucagon-like peptide 1 market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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