Coherent Market Insights

GLP-1 Receptor Agonist Market to Surpass US$ 19,253.8 Million by 2028

GLP-1 Receptor Agonist Market to Surpass US$ 19,253.8 Million by 2028 - Coherent Market Insights

Publish On: Sep 16, 2021

Global GLP-1 Receptor Agonist Market, by Drug Class (Exenatide, Liraglutide, Dulaglutide, Lixisenatide, Albiglutide, and Semaglutide), by Route of Administration (Parenteral and Oral), by Application (Type 2 Diabetes Mellitus, Obesity, Liver Cirrhosis, Non-alcoholic Steatohepatitis, and Others {Others include Cardiovascular Disease and Type-1 Diabetes}), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 19,253.8 million in 2021 and is expected to exhibit a CAGR of 6.1% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

Key players operating in the market are focusing on receiving product approvals from regulatory authorities and this is expected to drive the market growth over the forecast period.

For instance, in December 2020, Novo Nordisk A/S, a Denmark-based pharmaceutical company, received the U.S. Food and Drug Administration (FDA) approval for its GLP-1 receptor agonist drug Saxenda (liraglutide) which is indicated for the treatment of obesity in children of age 12 and above.

Global GLP-1 Receptor Agonist Market – Impact of Coronavirus (Covid-19) Pandemic

COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 211 million cases and 4.4 million deaths due to Coronavirus (COVID-19) were reported up till August 22, 2021, across the globe.

The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the demand and supply in global GLP-1 receptor agonist market. The COVID-19 pandemic has affected the demand and supply of global GLP-1 receptor agonist market in three main ways; by directly affecting the production and demand of GLP-1 receptor agonists; by creating disruptions in distribution channels; and by its financial impact on firms and markets. Supply chain and manufacturing activities of pharmaceutical companies in India, China, and the U.S. are disrupted due to nationwide lockdowns. Furthermore, the COVID-19 pandemic has negatively impacted the global economy. However, COVID-19 pandemic is expected to have a positive impact on GLP-1 receptor agonist market due to its association with obesity which can be treated using GLP-1 receptor agonist drugs.

According to the COVID-19 and Obesity: The 2021 Atlas published by the World Obesity Federation, a study conducted in the U.K. population in the period March 16, 2020 to April 26, 2020 reported that around 8.6% of COVID-19 hospitalisations were associated with inadequate physical activity while 29.5% of COVID-19 hospitalisations were associated with overweight and obesity.

Browse 48 Market Data Tables and 38 Figures spread through 170 Pages and in-depth TOC on “GLP-1 Receptor Agonist Market”- Global Forecast to 2028, by Drug Class (Exenatide, Liraglutide, Dulaglutide, Lixisenatide, Albiglutide, and Semaglutide), by Route of Administration (Parenteral and Oral), by Application (Type 2 Diabetes Mellitus, Obesity, Liver Cirrhosis, Non-alcoholic Steatohepatitis, and Others {Others include Cardiovascular Disease and Type-1 Diabetes}), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),

To know the latest trends and insights prevalent in the global GLP-1 receptor agonist market, click the link below:

https://www.coherentmarketinsights.com/market-insight/glp-1-receptor-agonist-market-4632

Key players operating in the market are focusing on adoption of inorganic growth strategies such as collaborations, licensing agreements, acquisitions, and partnerships in order to strengthen their position in the market. For instance, in August 2020, Hanmi Pharm. Co., Ltd., a South Korea-based pharmaceutical company, entered into a licensing agreement with Merck KGaA, a Germany-based science and technology company, for manufacturing and marketing of its glucagon-like peptide-1 (GLP-1)/glucagon receptor dual agonist indicated for the treatment of non-alcoholic steatohepatitis (NASH).

Key Takeaways of the Global GLP-1 Receptor Agonist Market:

  • The global GLP-1 receptor agonist market is expected to exhibit a CAGR of 6.1% over the forecast period, owing to growing prevalence of diabetes and obesity. For instance, according to an article published by the Diabetes Research and Clinical Practice in September 2019, it has been estimated that the prevalence of diabetes worldwide was around 9.3% in 2019 and it is expected to rise to 10.2% by 2030 and 10.9% by 2045.
  • Among drug class, semaglutide segment is expected to show the fastest growth over the forecast period, owing to market players’ focus on obtaining regulatory approvals. For instance, in January 2020, Novo Nordisk A/S received the U.S. Food and Drug Administration (FDA) approval for the label expansion of its drug Ozempic (semaglutide) for reducing the risk of heart attack, stroke and death in adults suffering from type 2 diabetes as well as cardiovascular disease.
  • Key players operating in the global GLP-1 receptor agonist market include Eli Lilly and Company, GlaxoSmithKline plc, Novo Nordisk A/S, 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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