Market Overview:
Glucagon like peptide 1 (GLP-1) analogs are injectable medications used to control blood sugar levels in patients with type 2 diabetes. They work by stimulating the production of insulin from the pancreas and suppressing glucagon secretion. GLP-1 analogs help lower blood sugar levels in patients with type 2 diabetes. They offer various advantages over other anti-diabetic drugs such as weight loss, low risk of hypoglycemia, and protective effects on pancreatic beta cells. With rising prevalence of diabetes globally, the demand for safer and effective treatment options is also increasing.
The Glucagon Like Peptide 1 Analogs Market is estimated to be valued at US$ 11.87 Bn in 2023 and is expected to exhibit a CAGR of 1.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The Glucagon Like Peptide 1 Analogs market is segmented based on type and application. Exenatide is the dominating sub segment under type segment. Nearly half of the total Glucagon Like Peptide 1 Analogs market share is captured by Exenatide owing to its effectiveness in managing blood glucose level and ensuring weight loss in patients with type 2 diabetes.
Key Takeaways
The Global Glucagon Like Peptide 1 Analogs Market Size is expected to witness high growth, exhibiting CAGR of 1.1% over the forecast period, due to increasing prevalence of diabetes across the globe. North America dominated the Glucagon Like Peptide 1 Analogs market in 2023, owing to presence of major players in the region and higher adoption of GLP-1 agents. The glucagon like peptide-1 (GLP-1) agonists market in Asia Pacific is expected to grow at the highest CAGR during the forecast period.
Regional analysis
North America captured nearly half of the total Glucagon Like Peptide 1 Analogs market share in 2023 due to developed healthcare infrastructure in countries like US and Canada, and presence of major players in the region. Asia Pacific is expected to witness the highest growth rate over the forecast period owing to growing geriatric population, rising healthcare expenditure, and increasing incidence of diabetes.
Key players
Key players operating in the Glucagon Like Peptide 1 Analogs market are AstraZeneca, Eli Lilly and Company, Sanofi, Novo Nordisk A/S, Pfizer Inc. AstraZeneca captured nearly one-third of the total market share in 2023 owing to strong portfolio of GLP-1 agents like Bydureon and Byetta.
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