by Semaglutide is an injectable GLP-1 receptor agonist drug used for the treatment of obesity and type 2 diabetes. It mimics the actions of the naturally occurring hormone GLP-1 and helps control blood sugar levels by stimulating the pancreas to release insulin when blood sugar levels are high. It also suppresses the release of glucagon and slows down the emptying of the stomach to regulate appetite and food intake. Semaglutide has shown notable weight loss benefits and is prescribed as an adjunct to a reduced calorie meal plan and increased physical activity for chronic weight management in adult patients with obesity or overweight.
The global semaglutide market is estimated to be valued at US$ 15.8 Bn in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing prevalence of obesity and diabetes across the globe remains a key driver fueling the demand for semaglutide. As per the World Health Organization (WHO), in 2016, over 1.9 billion adults were overweight out of which over 650 million were obese. By 2030, an estimated 57.8% of the world’s adult population is projected to be overweight or obese if recent trends continue. Obesity increases the risks of developing serious health conditions like diabetes and heart disease. Similarly, the International Diabetes Federation has reported that as of 2021, approximately 537 million adults between the ages of 20–79 years suffered from diabetes and by 2045 this number is projected to rise to 643 million. Semaglutide offers a non-invasive treatment option for chronic weight management and glycemic control in diabetes with additional benefits such as reduced cardiovascular risks.
The increasing cases of obesity and diabetes constitute the growing patient pool opting for semaglutide treatment. However, the high cost of semaglutide therapy remains a major barrier limiting its widespread adoption in developing regions. Nevertheless, ongoing strategic collaborations between manufacturers and supply chain players for cost optimization are expected to make semaglutide more affordable gradually, thereby further fueling revenue growth of the global market over the forecast period.
Segment Analysis
The Global Semaglutide Market Size is dominated by the type 2 diabetes segment which accounts for over 70% market share. Semaglutide is approved for the treatment of type 2 diabetes and helps in reducing HbA1c levels significantly as compared to other GLP-1 receptor agonists. It has demonstrated superiority over other anti-diabetic drugs in lowering blood sugar levels. Within type 2 diabetes segment, oral formulations sub-segment generates the highest demand for semaglutide.
PEST Analysis
Political: Regulations around drug pricing and insurance coverage impact the affordability and adoption of semaglutide. Most countries have laid down guidelines to promote cost-effective diabetic treatment options.
Economic: Rising healthcare spending on diabetes treatment worldwide due to growing diabetic population drives the demand for semaglutide. However, high drug costs pose affordability challenges in low and middle-income nations.
Social: Growing public awareness about advanced diabetic care therapies and their benefits in managing blood sugar levels effectively fosters the demand for semaglutide.
Technological: Continuous R&D efforts by players to develop novel drug delivery systems such as long-acting formulations enhance patient compliance and fuel the market growth.
Key Takeaways
The global semaglutide market is expected to witness high growth during the forecast period supported by rising diabetes prevalence and advantages of semaglutide over conventional diabetic drugs. The global semaglutide market is estimated to be valued at US$ 15.8 Bn in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030.
Regionally, North America leads and captures over 40% market share attributed to developed healthcare infrastructure and early access to innovative therapies. Europe is also a major region owing to large diabetic population and government initiatives for diabetes management.
Key players operating in the semaglutide market are F. Hoffmann-La Roche AG, Boehringer Ingelheim, Bayer AG, Pfizer Inc., Biogen, Daiichi Sankyo, Bristol-Myers Squibb, Johnson & Johnson, AstraZeneca, SanBio and Athersys Inc. Among them, Novo Nordisk and Eli Lilly dominated the space with their semaglutide brands Ozempic and Rybelsus, respectively. New pipeline products with improved efficacy and tolerability are likely to strengthen their market position further.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
