GLP-1 Receptor Agonist Market is set to witness steady growth through 2020-2030

GLP-1 receptor market players are likely to renew their R&D and regulatory approval efforts in 2021 to gain a competitive edge, according to ESOMAR-certified market research firm Future Market Insights (FMI). The report tracks GLP-1 receptor market growth across 20+ countries, analysing some of the leading players in this market.

According to the study, the GLP-1 receptor agonist market players are also focusing on geographical expansion to increase their footprint. For instance – Novo Nordisk is looking forward to expansion by boosting in North Carolina’s manufacturing unit.

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Key Takeaways from the GLP-1 Receptor Agonist Market

- Trulicity held the largest share in terms of revenue generation in 2019
- Ozempic is expected to witness the highest growth rate between 2020 and 2030 owing to advantages like weight loss, reduction of cardiovascular risk, and controlled levels of haemoglobin
- Asia Pacific is expected to be growing at the fastest pace due to onslaught of diabetes supporting intake of GLP-1 receptor agonists

Short-Term Slowdown Due To Covid-19

The GLP-1 receptor agonist market has slowed down due to the outbreak of Covid-19. Majority of the projects all through the US, South Korea, Germany, and China are being delayed as the players are encountering short-term operational issues owing to supply chain constraints coupled with lack of access to sites.

As China has been at a pivotal position with regards to the chemical industry, it will take some time for the players to adapt to the “new” normal post Covid-19 era.

The first quarter of 2021 is expected to witness a major upturn on this count. The players are likely to be on the lookout of smoothing the supply chain while looking for alternatives to China.

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GLP-1 Receptor Agonist Market Competitive Landscape

According to FMI’s analysis, not even a single generic version of GLP-1 is available in the market, as these medications are patent-protected.

However, some time back, Teva did confirm generic Victoza. It also stated that it had filed ANDA (abbreviated new drug application) with the US FDA, thereby asking for approval for marketing Novo Nordisk’s Victoza (Iiraglutide) injection in the US.

The other major players in the GLP-1 Receptor Agonist market include AstraZeneca, Sanofi, and Eli Lilly and Company.

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About FMI:

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.