April 14, 2024
Glucagon Like Peptide 1 Analogs Market

The Glucagon Like Peptide 1 Analogs Market Driven By The Growing Diabetic Population Globally

The global Glucagon Like Peptide 1 Analogs Market comprises pharmaceutical drugs prescribed to manage type 2 diabetes and help control blood sugar levels. Glucagon-like peptide-1 (GLP-1) analogs work by stimulating the production and release of insulin from pancreatic beta cells. They also suppress the release of glucagon from pancreatic alpha cells and slow down gastric emptying. Some commonly prescribed GLP-1 analogs include exenatide, liraglutide, albiglutide, dulaglutide, and semaglutide.

The global Glucagon Like Peptide 1 Analogs Market is estimated to be valued at US$ 13.68 billion in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

The growing global diabetic population, increasing obesity rates, and rising healthcare expenditure are some of the major factors expected to drive the growth of the market during the forecast period.

Market Dynamics:

Growing diabetic population globally is expected to be a major driver for the Glucagon Like Peptide 1 Analogs Market over the forecast period. According to the International Diabetes Federation, around 537 million adults are estimated to have diabetes worldwide in 2021. This number is projected to rise to 643 million by 2030 and 784 million by 2045. Higher diabetes prevalence will increase the demand for therapeutic drugs such as GLP-1 analogs for efficient blood glucose management.The other significant driver mentioned in the heading is the growing obese population, which often leads to type 2 diabetes. Obesity rates have surged dramatically in recent decades, especially in developed economies such as the U.S., the U.K., Canada, Australia, and some EU nations. According to the NCBI, around 2.8 million deaths are attributed to obesity worldwide each year. GLP-1 analogs can aid weight management in obese diabetic patients and curb obesity risks, thus propelling market growth.

Segment Analysis

The global glucagon like peptide-1 analogs market is dominated by the exenatide sub-segment. Exenatide, sold under the brand names Byetta and Bydureon among others, was the first GLP-1 receptor agonist approved for clinical use. It possesses several advantages such as proven clinical efficacy and safety, well-established dosing and administration routine, and long shelf-life. These benefits have helped exenatide capture a major share of the market.

Pest Analysis

Political: Regulatory bodies across regions have laid out stringent norms for new drug approvals and manufacturing facilities to ensure patient safety. This impacts R&D investments and drug development timelines.
Economic: Rising income levels in developing nations have increased healthcare budgets and demand for advanced diabetes drugs. However, pricing pressures and healthcare reforms impact profit margins.
Social: Growing diabetes prevalence driven by sedentary lifestyles and obesity is a key factor driving market growth. However, social stigma and lack of awareness in poorer nations hampers full realization of market potential.
Technological: Advanced analogs offering better efficacy, stability and convenience of dosing have been introduced. Further innovations to develop oral formulations and sustained-release injectables can propel the market.

Key Takeaways

The Global Glucagon Like Peptide 1 Analogs Market Size is estimated to be valued at US$ 13.68 billion in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024-2031.

Regional analysis comprises
The North American region currently dominates the global glucagon like peptide-1 analogs marke owing to high diagnosis and treatment rates for diabetes. Asia Pacific is expected to witness the fastest growth during the forecast period supported by increasing healthcare spending, growing medical tourism, and rising diabetes incidence in developing countries like China and India.

Key players related content comprises
Key players operating in the glucagon like peptide-1 analogs market are Alcoa Corporation, Novelis Inc., UACJ Corporation, Norsk Hydro ASA, AMG Advanced Metallurgical Group, Constellium, Aluminum Corporation of China Limited, Rio Tinto Group, Aleris Corporation, Autoneum Holding AG, Dana Limited, ElringKlinger AG, Progress-Werk Oberkirch AG, JINDAL ALUMINIUM LTD., Kaiser Aluminum, Lorin Industries. Exenatide under the brand names Byetta and Bydureon commands a major share. Other prominent players include Eli Lilly, AstraZeneca, and Novo Nordisk.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it