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Semaglutide Market Growth Accelerated by Increasing Demand for Therapeutics to Treat Obesity and Diabetes

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Mia Yates
Semaglutide Market Growth Accelerated by Increasing Demand for Therapeutics to Treat Obesity and Diabetes

Semaglutide is a glucagon-like peptide-1 (GLP-1) analog used for glycemic control in patients with type 2 diabetes and for chronic weight management. It mimics the effects of native GLP-1 and helps regulate blood sugar levels by stimulating insulin secretion and suppressing glucagon secretion. Furthermore, it promotes satiety and reduces appetite. The growing prevalence of obesity and diabetes has increased the demand for therapeutics that can aid in blood sugar control as well as weight loss.

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 key trends

Increasing adoption of once-weekly formulations: Drug developers are increasingly focusing on developing once-weekly formulations of GLP-1 analogs such as semaglutide to improve patient adherence to treatment. For instance, Novo Nordisk's once-weekly formulation Ozempic gained popularity as an effective treatment option for obesity and diabetes and attracted a large patient pool worldwide. Such extended-action formulations are expected to be the future of GLP-1 analog treatment.

Segment Analysis

The global semaglutide market can be segmented based on application, distribution channel and geography. By application, the type 2 diabetes segment dominated the market in 2019 owing to the rising diabetic population and semaglutide's effectiveness in reducing blood sugar levels with low risk of hypoglycemia. By distribution channel, the retail pharmacies segment accounted for the largest share as these are the most convenient for patients to get prescriptions filled.

Key Takeaways

The Global Semaglutide Market Size is expected to witness high growth over the forecast period 2023-2030.

Regional analysis suggests that North America is expected to dominate the market during the forecast period. Presence of well-established healthcare infrastructure along with high adoption of drugs for treatment diabetes is boosting market growth in the region. Europe is also expected to grow at a rapid pace owing to increasing awareness among population about semaglutide treatment.

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. F. Hoffmann-La Roche AG commands the major market share owing to their wide distribution network and commercial presence across regions.

For More Insights, Read: https://www.newswirestats.com/semaglutide-market-size-share-and-growth-forecast-2023-2030/


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