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Glucagon Like Peptide-1 Glp-1 Agonists Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
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Published date -30th Jan 2024
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Formats -PDF, CSV
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Region -Global
Glucagon Like Peptide-1 Glp-1 Agonists Market Analysis
Market Size & CAGR of Glucagon Like Peptide-1 Glp-1 Agonists Market in 2021
The global market size for Glucagon Like Peptide-1 (GLP-1) Agonists in 2021 was valued at USD 5.8 billion with a Compound Annual Growth Rate (CAGR) of 8.4%.
COVID-19 Impact on the Glucagon Like Peptide-1 Glp-1 Agonists Market
The COVID-19 pandemic has affected the Glucagon Like Peptide-1 (GLP-1) Agonists market significantly. The market witnessed disruptions in the supply chain, leading to a temporary decrease in sales. However, with the rise in telemedicine and digital health solutions, the market has shown resilience and adaptability to the new normal.
Glucagon Like Peptide-1 Glp-1 Agonists Dynamics
Glucagon Like Peptide-1 (GLP-1) Agonists are a class of drugs used in the management of type 2 diabetes. These drugs work by stimulating insulin secretion, inhibiting glucagon release, slowing gastric emptying, and reducing appetite. The market dynamics for GLP-1 Agonists are driven by the increasing prevalence of diabetes, growing awareness about the benefits of these drugs, and advancements in drug delivery technologies.
Segments and Related Analysis
The Glucagon Like Peptide-1 (GLP-1) Agonists market can be segmented based on the mode of administration, type of drug, and end-user. By mode of administration, the market is divided into injectable and oral formulations. By type of drug, the market includes exenatide, liraglutide, dulaglutide, and others. The end-users of GLP-1 Agonists are hospitals, clinics, and retail pharmacies.
By Region Analysis
The regional analysis of the Glucagon Like Peptide-1 (GLP-1) Agonists market shows that North America currently leads the market, followed by Europe and Asia Pacific. The high prevalence of diabetes, favorable reimbursement policies, and advanced healthcare infrastructure contribute to the dominance of these regions. However, the market in the Asia Pacific region is expected to grow at a significant rate due to the increasing diabetic population and rising healthcare expenditure.
Key Market Players and Competitive Landscape
Key players in the Glucagon Like Peptide-1 (GLP-1) Agonists market include Novo Nordisk, Eli Lilly, AstraZeneca, Sanofi, and others. These companies are focused on product innovation, strategic collaborations, and expanding their presence in emerging markets to gain a competitive edge. The market is highly competitive, with players investing in research and development to launch new and advanced GLP-1 Agonists.
Recent Happenings in the Glucagon Like Peptide-1 Glp-1 Agonists Market
In recent developments, Novo Nordisk announced the launch of a new once-weekly GLP-1 Agonist for the treatment of type 2 diabetes. Eli Lilly received FDA approval for an extended-release formulation of a GLP-1 Agonist. AstraZeneca partnered with a biotech company to develop a novel GLP-1 Agonist with improved efficacy and safety profile. Sanofi introduced a patient assistance program to make GLP-1 Agonists more accessible to patients in need.