Incretin-based Drugs Market Size Worth USD 73.9 billion by 2032 at 7.9% CAGR, Says AMR

Allied Market Research published a report, titled, "Incretin-based Drugs Market by Drug Class (GLP-1 receptor agonists and DPP-4 inhibitors), By Route of Administration (Parenteral and Oral), By Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, Online Providers): Global Opportunity Analysis and Industry Forecast, 2023-2032". The global incretin-based drugs market was valued at USD 34.4 billion in 2022, and is projected to reach USD 73.9 billion by 2032, registering a CAGR of 7.9% from 2023 to 2032.

Prime determinants of growth

Key factors driving the growth of the Incretin-based drugs market includes the increasing prevalence of diabetes, particularly type 2 diabetes, across the globe. As more people are diagnosed with type 2 diabetes, there is a surge in demand for innovative therapies such as incretin-based drugs for the treatment. These drugs offer unique benefits in controlling blood sugar levels while reducing the risk of hypoglycemia and other side effects. The market dynamics of incretin medications are also driven by product approvals and launches. Companies introduce new formulations, better delivery systems, and broadening indications for existing drugs to reach a wider range of patients. This wide range of of treatment options gives healthcare providers more options to meet different patient needs, thus increasing the market demand.

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Top Incretin-based Drugs Companies

• Eli Lilly and Company.
• Merck & Co., Inc.
• Sanofi
• Sun Pharmaceutical Industries Ltd.
• Novo Nordisk A/S
• AstraZeneca plc
• Takeda Pharmaceutical Company Ltd.
• Lupin
• Boehringer Ingelheim International GmbH
• Novartis AG

Incretin-based Drugs Market Segmentation: -

By drug class, the GLP-1 receptor agonist segment held the highest market share in 2022, accounting for nearly three-fourths of the global incretin-based drugs market revenue and is anticipated to be the fastest growing segment during the forecast period. The growth of the segment is mainly attributed to the advancements taking place in GLP-1 receptor agonist segment. Researchers are focusing on the development and launch of new products with increased efficacy and quality, which is further anticipated to boost the market growth during the forecast period.

By route of administration, the parenteral segment accounted for the largest share in 2022, accounting for nearly two-thirds of the global incretin-based drugs market revenue and is anticipated to be the fastest growing segment during the forecast period. The growth is mainly attributed to the significant product launches in injectable forms by the key players in the market. In addition, a surge in approvals for treatment of additional indications for existing incretin-based injectables is also anticipated to boost the market growth during the forecast period.

By distribution channel, the drug stores and retail pharmacies segment dominated the market in terms of revenue in 2022, accounting for more than half of the global market. Their widespread presence and accessibility increase the availability of these treatments to a broad consumer base.

On the other hand, the online providers segment is anticipated to be the fastest growing segment during the forecast period. Online providers offer a convenient platform for purchasing incretin-based drugs. Consumers can access a wide range of medications from various brands through online pharmacies or e-commerce platforms.

North America dominated the market in 2022, accounting for nearly half of the global market, owing to the well-established healthcare infrastructure and availability of highly advanced medical diagnostics and treatment facilities in this region. In addition, high spending on medications is also contributing to the market growth. On the other hand, Asia-Pacific is anticipated to be the fastest growing segment during the forecast period, which is attributed to rising healthcare expenditure, and developing healthcare infrastructure.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Contact Details:

David Correa
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help@alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.