Glucagon Like Peptide 1 Analogs Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Diabetes

Market Overview:
Glucagon-like peptide-1 (GLP-1) analogs are incretin mimetic drugs for the treatment of type 2 diabetes. They bind to and activate the GLP-1 receptor, which increases insulin secretion from pancreatic beta cells in a glucose-dependent manner and suppresses glucagon secretion. Commonly prescribed GLP-1 analogs include exenatide, liraglutide, dulaglutide, semaglutide, and lixisenatide.

Market Dynamics:
The glucagon like peptide 1 analogs market is driven by the increasing prevalence of diabetes globally. As per the International Diabetes Federation, around 537 million adults were living with diabetes in 2021 worldwide and the number is projected to rise to 643 million by 2030 and 783 million by 2045. Furthermore, GLP-1 analogs have benefits over other antidiabetic drugs such as weight loss and lower risk of hypoglycemia which is another factor fueling the market growth. However, high costs associated with GLP-1 drugs and complex manufacturing process are factors expected to hamper the market growth during the forecast period.

SWOT Analysis
Strength: Glucagon Like Peptide 1 Analogues have minimal side effects, are safer and more effective compared to other anti-diabetic drugs. They help promote weight loss and are well tolerated. They also help reduce blood sugar levels by stimulating insulin secretion.

Weakness: Injectable GLP-1 analogues require daily subcutaneous injections which some patients find inconvenient. They are also associated with adverse gastrointestinal side effects like nausea, vomiting and diarrhea in the initial period of treatment.

Opportunity: Rising prevalence of diabetes worldwide presents significant market potential. Increasing awareness about benefits of GLP-1 analogues over other drugs is expected to drive their uptake. Expanding indications to obesity management also provides growth prospects.

Threats: Intense competition exists from other antidiabetic drugs and newer drug delivery mechanisms like oral formulations pose pricing and substitutability threats. Side effects and high costs also limit widespread adoption. Stringent regulatory paths for approvals delay market entries of newer drugs.

Key Takeaways
The Global Glucagon Like Peptide 1 Analogs Market Size is expected to witness high growth, exhibiting a CAGR of 1.1% over the forecast period, due to increasing prevalence of diabetes globally. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 and the figure is expected to rise to 783 million by 2045.

Regional analysis: North America currently dominates the market owing to rising obese and diabetic population, stringent control over blood glucose levels and favorable reimbursement scenario. However, Asia Pacific is anticipated to register highest CAGR during the forecast period propelled by growing geriatric population, changing lifestyles and increasing healthcare expenditure in countries like India and China.

Key players: Key players operating in the Glucagon Like Peptide 1 Analogues market are AstraZeneca, Eli Lilly and Company, Sanofi, Novo Nordisk A/S, Pfizer Inc. Eli Lilly and Novo Nordisk together control over 90% of the global GLP-1 analogue market with their dominant brands Byetta, Victoza, Trulicity and Ozempic. The market is witnessing rising generic competition and newer entrants with novel formulations.