GLP-1 receptor agonists, also known as glucagon-like peptide-1 receptor agonists, are a class of drugs used to treat type 2 diabetes. GLP-1 receptor agonists mimic the effects of a natural hormone called glucagon-like peptide-1 (GLP-1) that is secreted by L cells in the small intestine in response to food intake. GLP-1 receptors trigger the production and release of insulin from pancreatic beta cells and suppress glucagon secretion from pancreatic alpha cells. This helps lower blood glucose levels. Drugs in this class, such as exenatide, liraglutide, dulaglutide, tirzepatide, etc., are usually taken by injection on a weekly or monthly basis to improve glycemic control in adults with type 2 diabetes.
The global GLP-1 Receptor Agonist Market is estimated to be valued at US$ 18.4 billion in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing prevalence of diabetes globally is considered as one of the important driver for GLP-1 Receptor Agonist Market. It is estimated by the International Diabetes Federation that diabetes affected around 537 million people worldwide in the year 2021 and it is estimated to rise to around 643 million by 2030 and 783 million by 2045. GLP-1 receptor agonists are highly effective in controlling blood sugar levels without any risk of hypoglycemia, unlike other drugs. This unique benefit makes them preferable for longer period diabetes management, thus fueling the market growth. Furthermore, increasing preference for non-insulin based diabetes management solutions due to less painful injections and ease of use are further propelling the demand of GLP-1 receptor agonist drugs. The ability of these drugs to help in gradual weight loss and cardioprotective effect also drive the growth of this market. However, high cost of brand name drugs and requirement of regular injections remains a restraint for market growth.
Segment Analysis
The global GLP-1 Receptor Agonist Market is dominated by the once-weekly segment which currently holds around 65% of the total market share. This segment has grown significantly over the last few years owing to the patient preference for weekly medicine administration over daily injections. The once-weekly regime provides better patient compliance as compared to the conventional daily dosage.
PEST Analysis
Political: The governments across major countries are developing supportive reimbursement policies to improve accessibility and affordability of GLP-1 receptor agonist drugs for diabetes treatment.
Economic: Rise in diabetes prevalence coupled with growing healthcare expenditure is driving the demand for advanced antidiabetic drugs like GLP-1 receptor agonists.
Social: Increasing awareness about diabetes management and available treatment options is prompting more patients to opt for GLP-1 receptor agonist therapy to achieve better glucose control and weight management.
Technological: Continuous R&D efforts by players are leading to development of novel formulations with improved efficacy and tolerability, such as long-acting weekly/monthly versions.
Key Takeaways
The Global GLP-1 Receptor Agonist Market Growth is expected to witness high over the forecast period of 2024 to 2031.
Regional analysis: North America accounts for around 40% share of the global GLP-1 receptor agonist market currently led by the US. Favorable reimbursement coverage for diabetic drugs and rising incidence of obesity-induced diabetes are driving market growth in the region.
Key players operating in the GLP-1 Receptor Agonist Market are Novo Nordisk, Eli Lilly, Sanofi, AstraZeneca, Pfizer. Novo Nordisk’s once-weekly semaglutide (Ozempic/Rybelsus) has emerged as the leading brand with over 30% global market share owing to its superior efficacy profile.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
