Glucagon-like Peptide 1 Market 2024-2033 : Industry Analysis, Size, Share, Growth And Forecast

"The Business Research Company recently released a comprehensive report on the Global Glucagon-like Peptide 1 Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The glucagon-like peptide 1 market size has grown strongly in recent years. It will grow from $19.51 billion in 2023 to $21.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rising prevalence of diabetes, focus on improved diabetes management, patient preference for injectable therapies, clinical efficacy and safety profiles, advancements in diabetes research..

The glucagon-like peptide 1 market size is expected to see strong growth in the next few years. It will grow to $28.17 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to emergence of oral glp-1 therapies, focus on personalized medicine, integration in diabetes treatment algorithms, patient-centric approaches in healthcare.. Major trends in the forecast period include market expansion in emerging economies, regulatory approvals for new formulations, focus on personalized medicine, patient education and awareness programs, competitive landscape dynamics..

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Market Drivers and Trends:

The rising prevalence of diabetes is expected to propel the global glucagon-like peptide 1 market going forward. Diabetes is a condition in which the blood sugar, or blood glucose, is too high. Glucagon-like peptide 1 is a medication used to treat conditions such as type 2 diabetes that may lead to weight loss and improved blood sugar. For instance, in January 2022, according to the National Library of Medicine, a US-based center of biomedical informatics and computational biology, it was estimated that global diabetes prevalence in 20-79-year-olds in 2021 was 10.5% (536.6 million people), and it is expected to increase to 12.2% (783.2 million) in 2045. Therefore, the rising prevalence of diabetes will drive glucagon-like peptide 1.

Technological innovations are a key trend gaining popularity in the global glucagon-like peptide 1 market. Major companies operating in the glucagon-like peptide 1 market are launching new and innovative technologies to sustain their position in the market. For instance, Novo Nordisk A/S, a Denmark-based pharmaceutical company, launched Wegovy, the first and only once-weekly glucagon-like peptide 1 therapy for weight management. Wegovy successfully completed the STEP Phase 3a clinical trial program and demonstrated a safe and well-tolerated profile across the program. This product is used by people who struggle with obesity to achieve and maintain weight loss.

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Major Key Players of the Market:

Novo Nordisk AS; Sanofi SA; Eli Lilly and Co; AstraZeneca plc; Pfizer Inc; Boehringer Ingelheim International GmbH; F Hoffmann-La Roche Ltd; Bristol-Myers Squibb Company; Baxter; Hikma Pharmaceuticals plc; Zealand Pharma A/S; Intarcia Therapeutics Inc.; GlaxoSmithKline plc; Jiangsu Hansoh Pharmaceutical Group Co Ltd; Shanghai Benemae Pharmaceutical Corporation; Adocia; Biocon; Hanmi Pharmaceutical Co Ltd; Ligand Pharmaceuticals Incorporated; Advinus Therapeutics Ltd; Mitsubishi Tanabe Pharma Corporation; Daiichi Sankyo Company Limited; Sun Pharmaceutical Industries Ltd; Union Chimique Belge; Amylin Pharmaceuticals LLC; Academic Pharmaceuticals Inc; ConjuChem Biotechnologies; MannKind Corporation:; Provention Bio Inc; Regeneron Pharmaceuticals

Glucagon-like Peptide 1 Market 2024 Key Insights:

• The glucagon-like peptide 1 market will grow to $28.17 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Escalating Diabetes Prevalence Drives The Global Glucagon-Like Peptide 1 Market
• Novo Nordisk Introduces Wegovy, A Once-Weekly Glucagon-Like Peptide 1 Therapy For Weight Management
• North America was the largest region in the glucagon-like peptide 1 market in 2023

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