Diabetes mellitus, commonly known as diabetes, is a chronic condition, in which the blood glucose levels are higher than the normal range. Diabetes is a disorder where the insulin hormone is either not produced by the pancreas (Type 1) or the body fails to utilize it properly (Type 2).
Type 2 diabetes is a chronic condition where the body fails to metabolize the glucose properly, which means that the body has become resistant towards the insulin, a hormone produced by pancreas to maintain blood sugar level in body. Type 2 diabetes is mostly found in adults though the condition is becoming increasingly common in children also. The symptoms of type 2 diabetes include increased thirst and hunger, frequent urination, fatigue, slow healing sores, and blurred vision.
Semaglutide is a medication used for treating type 2 diabetes. The medicine acts similarly as a natural hormone, glucagon-like peptide-1, which stimulates the insulin secretion in body for regulation of blood glucose level. The medicine is recommended by the U.S. Food and drug Administration (FDA), along with diet and exercise, in order to regulate the blood sugar level in type 2 diabetic patients.
Global Semaglutide Market – Dynamics
Increasing prevalence of type 2 diabetes is expected to boost growth of the global semaglutide market over the forecast period. For instance, according to article published by the Centers for Disease Control and Prevention (CDC), in 2017, around 23.1 million people in the U.S., were diagnosed with diabetes, out of which 132,000 were children and adolescents. The report also mentioned that out of the total diabetes cases, 90% to 95% accounted from type 2 diabetes.
Furthermore, various initiatives, campaigns, and programs launched by key players, in order to prevent and control diabetes are expected to propel the market growth over the forecast period. For instance, in 2014, Novo Nordisk, a global pharmaceutical company, and Steno Diabetes Center Copenhagen, London, launched ‘Cities Changing Diabetes’, a program designed to identify the areas and populations that are at greatest risk of getting affected by diabetes globally. Moreover, in November 2019, Philadelphia also joined the program and became the 25th city globally to become a part of the Cities Changing Diabetes program.
Global Semaglutide Market – Regional Insights
North America accounted for the largest market share in 2018, owing to launches and approvals of new semaglutide products in the region. For instance, in February 2018, Novo Nordisk, launched a semaglutide injection, Ozempic, to control type 2 diabetes in adults. Ozempic coupled with proper diet and exercise is helpful in regulating the blood sugar level in type 2 diabetic patients. According to the blood glucose level in the body, Ozempic stimulates the insulin secretion and lowers the glucagon secretion, in order to regulate the glucose levels in the blood. Similarly, in September 2019, Novo Nordisk received the approval from the U.S. Food and Drug Administration (FDA) for Rybelsus tablets, which are semaglutide tablets for controlling type 2 diabetes in adults. Rybelsus controls the blood sugar level in type 2 diabetic patients by slowing down the digestion process. The slow rate of digestion reduces the amount of sugar produced by the liver and also helps the pancreas in producing more insulin when required.
Global Semaglutide Market – Competitive Landscape
Key players operating in the global semaglutide market include Novo Nordisk.
Global Semaglutide Market – Taxonomy
On the basis of route of administration, the global semaglutide market is segmented into:
On the basis of distribution channel, the global semaglutide market is segmented into:
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
On the basis of region, the global semaglutide hormones market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East