Covina, Aug. 12, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the global Glp 1 analogues market size and share is projected to grow from USD 45.3 Billion in 202 and is forecasted to reach USD 606.3 Billion by 2034, exhibiting a compound annual growth rate (CAGR) of 33% during the forecast period (2024 - 2034).
Glp-1 Analogues Market Report Overview
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Glp-1 Analogues are a class of medications designed to mimic the action of the natural hormone GLP-1 is an incretin hormone produced in the intestines that plays a crucial role in regulating blood sugar levels. Synthetic copies of the GLP-1 hormone are intended to aim at imitating effects that are known as GLP-1 analogues. They are mostly used to treat obesity and type 2 diabetes.
Some of the common side effects of Glp-1 analogues are nausea, vomiting, diarrhoea, etc. There are also some serious side effects such as thyroid tumours, kidney problems, and many more. Alternatively, some of the benefits include; blood sugar control as they effectively lower blood glucose levels and can be used in combination with other ant-diabetic medications.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The Glp-1 Analogues Market is characterized by rapid growth, technological innovation and fierce competition. Companies are expanding their global presence, focusing on sustainability and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Novo Nordisk A/S
- Eli Lilly and Company
- Sanofi
- AstraZeneca
- Jiangsu Hansoh Pharmaceutical Group Co., Ltd.
- Pfizer.Inc
- Amgen, Inc.
- Innovent Biologics, Inc.
- PegBio Co., Ltd.
- Sun Pharmaceutical Industries Ltd.
- Boehringer Ingelheim International GmbH
- Zealand Pharma
- Moderna
- Hanmi Science
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Analyst View:
Glp-1 Analogues Market has been expanding rapidly fuelled by the rising incidence of obesity and type 2 diabetes worldwide. Because of their effectiveness in decreasing blood sugar levels and encouraging weight loss these drugs which replicate the natural hormone GLP-1 have become a mainstay in the care of various disorders. Analysts have a positive view on the market and attribute its growth to some important variables.
Market Dynamics:
Drivers:
Expansion of Indications Beyond Type 2 Diabetes
- The growing list of indications for GLP-1 analogues which extend across type 2 diabetes has greatly helped the market for these drugs. Although these drugs were first created mainly to treat diabetes, their effectiveness in treating obesity and managing weight has gained attention. The target market potential of medications like semaglutide has increased since it was licensed for weight loss in people who are not diabetics.
Technological Advancements in Drug Administration Systems
- Glp-1 Analogues market is driven by the growth of technological developments in medication delivery methods. Patient adherence and satisfaction have increased as a result of the development of long-acting formulations and cutting-edge delivery techniques like weekly or even monthly injections. These developments have decreased the stress of frequent dosing and improved the overall efficacy of GLP-1 analogues for patients making them more convenient and tolerable.
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Market Trends:
Integration with Digital Health Solutions
- The combination of these drugs with digital health solutions is one new development in the GLP-1 analogues industry. For example, apps that monitor blood sugar levels and provide nutritional or lifestyle advice can enhance the therapeutic benefits of GLP-1 analogues improving patient outcomes and facilitating more efficient disease management.
Expansion into Cardiovascular and Weight Management Indications
- The development of Glp-1 analogues for use in cardiovascular and weight management purposes, in addition to diabetes care, is another significant trend. Certain GLP-1 analogues have been shown in recent studies to offer cardiovascular benefits including the ability to lower the risk of heart attacks and strokes in those with type 2 diabetes.
Segmentation:
Glp-1 Analogues Market is segmented based on Product, Drug Class, Route of Administration, Distribution Channel, and Region.
Product Insights
- This sector includes Ozempic, Trulicity, Mounjaro, Xultophy, Victoza, Saxenda, and Others. The ozempic segment is expected to dominate the target market growth as it inhibits the release of glucagon, slows stomach emptying and increases insulin production in response to elevated blood sugar levels by imitating the natural GLP-1 hormone.
Drug Class Insights
- Semaglutide, Dulaglutide, Liraglutide, and Exenatide are some of the drug classes for GLP-1 analogues. The most popular and dominant segment considered is semaglutide. Semaglutide, which is sold under the brand names Ozempic and Wegovy has generated a lot of attention and taken up a sizable portion of the market because of its remarkable efficacy, broad range of applications and easy dosage schedule.
Route of Administration Insights
- In the target market, the parenteral GLP-1 analogues sector is the most dominant. After the discovery of GLP-1 analogues, parenteral administration which is the process of administering medications through injections has been the accepted technique. Medications that are commonly used include; Victoza (Liraglutide), Ozempic (Semaglutide), Trulicity (Dulaglutide), Mounjaro (Tirzepatide), and Saxenda (Liraglutide for weight management).
Distribution Channel Insights
- Retail Pharmacies are the main distribution channel which is expected to boost the target market growth as they provide patients with a useful and easily accessible place of purchase for drugs. This extensive presence guarantees that patients won’t need to make extra trips to hospital pharmacies to easily receive their medicines.
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Recent Development:
- In July 2024, Pfizer Inc. announced that based on results from the ongoing pharmacokinetic study (NCT06153758), the company has selected its preferred once-daily modified release formulation for danuglipron, an oral glucagon-like peptide-1 (GLP-1) receptor agonist. Pfizer sees obesity as a major therapeutic area, and the company has three clinical and numerous pre-clinical prospects in its pipeline.
Regional Insights
- North America: the high prevalence of type 2 diabetes and obesity in North America paired with a strong emphasis on cutting-edge healthcare solutions are driving factors in the GLP-1 analogues market. Strong insurance coverage, a well-established healthcare infrastructure and a high level of patient awareness of cutting-edge treatments all benefit the area.
- Asia Pacific: The target market in the Asia Pacific region is expanding rapidly due to factors including rising type 2 diabetes prevalence, urbanization and rising awareness of practical diabetic treatment techniques. The vast populations of diabetics in countries like India and China play a major role in boosting market growth.
Browse Detail Report on "Glp-1 Analogues Market Size, Share, By Product (Ozempic, Trulicity, Mounjaro, Xultophy, Victoza, Saxenda, and Others), By Drug Class (Semaglutide, Dulaglutide, Liraglutide, and Exenatide), By Route of Administration (Parenteral, and Oral), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/glp-1-analogues-market-5540
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