Press release
Liraglutide Market Analysis 2024: Trends, Growth Drivers, and Key Players
Liraglutide Market Analysis
The new report published by The Business Research Company, titled Liraglutide Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the liraglutide market size has grown strongly in recent years. It will grow from $5.87 billion in 2023 to $6.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The liraglutide market size is expected to see strong growth in the next few years. It will grow to $8.90 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
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What Is Driving The Growth Of The Global Liraglutide Market?
Impact Of Diabetic Population Growth On The Liraglutide Market
The increasing diabetic population is expected to propel the growth of the liraglutide market going forward. Diabetes is a chronic condition where the body cannot properly regulate blood sugar levels, either due to insufficient insulin production or ineffective insulin use. The incidence of diabetes is increasing due to factors such as sedentary lifestyles, unhealthy diets, and rising obesity rates worldwide. Diabetes drugs such as liraglutide help by mimicking the action of the hormone GLP-1, which enhances insulin secretion, lowers blood sugar levels, and promotes weight loss, thereby aiding in the management of type 2 diabetes. For instance, in 2021, according to the International Diabetes Federation (IDF), a Belgium-based non-profit organization, 537 million adults (ages 20-79), or 1 in 10, will live with diabetes. This figure is projected to increase to 643 million by 2030 and 783 million by 2045. Additionally, over 75% of adults with diabetes reside in low- and middle-income countries. Therefore, the increasing diabetic population is driving the growth of the liraglutide market.
What Is The Key Trend In The Global Liraglutide Market?
Expansion Of Generic GLP-1 Products In The Liraglutide Market
Major companies operating in the liraglutide market are developing novel products, such as generic GLP-1, to expand treatment options and address market demand for more affordable alternatives. Generic GLP-1 refers to versions of GLP-1 receptor agonists that are produced after the expiration of patent protection on the original branded medications, offering cost-effective alternatives for treating conditions like type 2 diabetes and obesity. For instance, in June 2024, Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company, introduced the first generic GLP-1, similar to Victoza, in the U.S. market, meeting the rising demand for these therapies. Liraglutide injections are prescribed to enhance blood sugar management in adults and children aged 10 and above with type 2 diabetes and to lower the risk of cardiovascular incidents in adults with type 2 diabetes and existing cardiovascular conditions.
How Is The Global Liraglutide Market Segmented?
The liraglutide market covered in this report is segmented -
1) By Brands: Victoza, Saxenda
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies And Drug Stores, Online Pharmacies
3) By Type Of Application: Diabetes Treatment, Weight Management
4) By End-Users: Hospitals And Clinics, Homecare Settings
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How Is The Competitive Landscape Of The Global Liraglutide Market?
Major companies operating in the liraglutide market are Pfizer Inc., Roche Holding AG, Merck & Co. Inc., AbbVie Inc., Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, Novartis International AG, Takeda Pharmaceutical Company Limited, GlaxoSmithKline Plc, Eli Lilly and Company, Amgen Inc., Boehringer Ingelheim International GmbH, Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Cipla Limited, Dr. Reddy's Laboratories Ltd., Biocon Limited, Hanmi Pharmaceutical Co. Ltd., Intarcia Therapeutics Inc., Adocia SA
Contents Of The Global Liraglutide Market
1. Executive Summary
2. Liraglutide Market Report Structure
3. Liraglutide Market Trends And Strategies
4. Liraglutide Market - Macro Economic Scenario
5. Liraglutide Market Size And Growth
…..
27. Liraglutide Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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