GLP-1 receptor agonists are injectable drugs that mimic the effects of GLP-1 hormone. They help control blood sugar levels and promote weight loss by stimulating insulin secretion and inhibiting glucagon secretion in a glucose-dependent manner. They also reduce appetite and delay gastric emptying, which helps in weight loss.
Market key trends:
One of the major trends driving the growth of the GLP-1 receptor agonist market is increasing prevalence of obesity and diabetes. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021, and the number is expected to rise to 643 million by 2030 and 783 million by 2045. The increasing global obesity rates are also fueling the market growth. GLP-1 receptor agonists aid in effective management of diabetes and obesity and thus witnessing high demand. Moreover, favorable reimbursement policies and launch of inexpensive generic drugs are expected to boost the market growth during the forecast period.
Porter’s Analysis
Threat of new entrants: The high R&D costs and capital requirements pose significant barriers for new entrants in the GLP-1 receptor agonist market. Bargaining power of buyers: The bargaining power of large buyers like pharmacy chains and hospital groups is high as they can negotiate on price and demand discounts from manufacturers. Bargaining power of suppliers: The suppliers of active ingredients and raw materials for manufacturing GLP-1 receptor agonists have some bargaining power due to the specialized expertise required. Threat of new substitutes: Alternatives like SGLT-2 inhibitors and DPP-4 inhibitors present a threat as substitutes for GLP-1 receptor agonists. Competitive rivalry: Intense competition exists between established players in the market.
SWOT Analysis
Strengths: Wide range of treatment options available and proven clinical efficacy for glycemic control and weight management. Weaknesses: High costs of therapy and frequency of injections associated with some products. Opportunity: Large patient pool of Type 2 diabetes and obesity provides major market opportunity. Threats: Patent expirations of blockbuster drugs and market entry of biosimilars.
Key Takeaways
The Global GLP-1 Receptor Agonist Market Size is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing prevalence of obesity and diabetes. Regionally, North America dominated the market in 2023 due to growing obesity rates. Asia Pacific is expected to witness the fastest growth due to rising healthcare expenditure and expanding patient pool.
Key players operating in the GLP-1 receptor agonist market are Eli Lilly and Company, GlaxoSmithKline plc, Novo Nordisk, PegBio Co., Ltd., AstraZeneca, Intarcia Therapeutics, Inc., Amylin Pharmaceuticals, Inc., Sanofi, Hanmi Pharm. Co., Ltd., Pfizer Inc., Amgen Inc., Innovent Biologics, Jiangsu Hengrui Medicine Co., Sun Pharmaceuticals Industries Ltd., and 9 Meters Biopharma, Inc.
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