The Glucagon Like Peptide 1 (GLP-1) analogs market has emerged as a viable pharmacological option for the management of type 2 diabetes. GLP-1 analogs help mimic the actions of naturally occurring incretin hormones GLP-1 that stimulate insulin secretion and lower glucagon secretion in a glucose-dependent manner.
The growing prevalence of obesity and type 2 diabetes across the world is driving the demand for Glucagon Like Peptide 1 Analogs Market Opportunity.
The global GLP-1 analogs market is valued at US$12.8 billion in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.
GLP-1 analogs are injectable diabetic drugs belonging to the class of incretin mimetics used for glycemic control in patients with type 2 diabetes. They work by stimulating the release of insulin from beta cells of pancreas in a glucose-dependent manner and suppressing glucagon secretion, both actions resulting in better glycemic control with limited risk of hypoglycemia. GLP-1 analogs aid in weight loss and have additional benefits of reducing cardiovascular risk and preserving pancreatic beta cell function. The rising prevalence of diabetes worldwide coupled with advancements in diabetes management strategies has driven the demand for efficacious antidiabetic drugs like GLP-1 analogs.
Key Takeaways
Key players operating in the Glucagon Like Peptide 1 (GLP-1) analogs market are Novo Nordisk, Eli Lilly, Sanofi, AstraZeneca, GSK.
The growing prevalence of diabetes and rising awareness about the advantages of GLP-1 analogs in achieving glycemic control with minimal side effects present lucrative opportunities for manufacturers in the market.
Technological advancements include the development of long-acting GLP-1 analogs requiring less frequent dosing and combination drug formulations integrating GLP-1 analogs with other antidiabetic drugs for optimal efficacy.
Market drivers
The key driver promoting the Glucagon Like Peptide 1 Analogs market Size is the increasing global diabetes burden. As per IDF data, approximately 537 million adults were living with diabetes worldwide in 2021, and the number is projected to rise to 783 million by 2045. Moreover, ongoing clinical research establishing the cardiovascular and renal benefits of GLP-1 analogs have strengthened their position as a preferred adjunct therapy for type 2 diabetes management.
Current challenges in the Glucagon Like Peptide 1 Analogs market:
The Glucagon Like Peptide 1 Analogs market faces several challenges currently. One of the major challenges is the availability of low-cost generic versions of some Glucagon Like Peptide 1 Analogs drugs. The entry of low-cost generics is adversely impacting the sales of branded drugs in this market. Secondly, compliance and adherence to Glucagon Like Peptide 1 Analogs drugs remain a significant challenge. These drugs require injection before every meal which patients often find inconvenient. This leads to non-adherence over time.
SWOT Analysis
Strength: Glucagon Like Peptide 1 Analogs drugs are very effective in controlling blood glucose levels and promoting weight loss. They offer an alternative to conventional diabetes drugs.
Weakness: Injectable route of administration and risk of side effects like nausea. Development of resistance to the drug over time.
Opportunity: Rising prevalence of diabetes worldwide is driving demand. New dual agonist drugs targeting both GLP-1 and GIP hormones offer growth potential.
Threats: Price erosion due to entry of low-cost biosimilars. R&D investment required to develop oral formulations.
In terms of value, the North American region accounts for the largest share in the Glucagon Like Peptide 1 Analogs market currently. This is primarily due to high diagnosed diabetes prevalence, favorable reimbursement policies, and presence of major market players in the region. The Asia Pacific region is projected to be the fastest growing market during the forecast period from 2024 to 2031. This can be attributed to widening patient pool, improving access and availability of Glucagon Like Peptide 1 Analogs drugs, and increasing healthcare expenditure in emerging APAC countries.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)