The size of global GLP-1 analogues market in terms of revenue was estimated to be worth $47.4 billion in 2024 and is poised to reach $471.1 billion by 2032, growing at a CAGR of 33.2% from 2024 to 2032. The comprehensive research encompasses an exhaustive examination of industry trends, meticulous pricing analysis, patent scrutiny, insights derived from conferences and webinars, identification of key stakeholders, and a nuanced understanding of market purchasing dynamics.
GLP-1 analogue drugs have gained high acceptance in recent years, especially after their benefits in treating chronic obesity and weight management became known widely. In addition, the clinical pipeline for this drug class is strong. The pipeline reveals an abundance of products (existing and innovative molecules) expected to launch during the forecast period. A few notable product instances include- Oral semaglutide (25 mg and 50 mg) for type 2 diabetes, CagriSema (a combination product of Cagrilintide and Semaglutide) for obesity as well as type 2 diabetes, Survodutide for the treatment of obesity and Nonalcoholic steatohepatitis (NASH), Semaglutide against NASH, and among others. Thus, this is a key factor driving market growth. However, more than 90% of the marketed products are offered by two key players in the market- Novo Nordisk A/S and Eli Lilly and Company. This has created a duopoly in the market. This factor thus, is expected to create high entry barriers for new entrants in the market.
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GLP-1 analogues Market Ecosystem
Prominent companies in the market include companies that have been operating for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in the market include Novo Nordisk A/S (Denmark), Eli Lilly and Company (US), Sanofi (France), and AstraZeneca (UK), among others.
Ecosystem analysis
The GLP-1 analogues market ecosystem comprises supply-side companies as well as demand-side entities that significantly contribute to market growth. The supply-side ecosystem includes pharmaceutical and biotechnology companies, while demand-side entities include home care settings, long-term care facilities, hospitals, and specialty clinics.
Ozempic accounted for the largest share of the product segment in overall GLP-1 analogues industry in 2023.
On the basis of product, the GLP-1 analogues market is segmented product into Ozempic, Trulicity, Mounjaro, Wegovy, Rybelsus, Saxenda, Victoza, Xultophy, Soliqua, Zepbound, Bydureon, and other products. In 2023, the Ozempic segment accounted for the largest share of the market owing to factors such as strong brand recognition for the product, and an established geographic availability globally support the growth of this segment.
The single dose segment dominates the format segment in overall GLP-1 analogues industry in 2023.
On the basis of format, the GLP-1 analogues market is segmented into single-dose, multi-dose, and tablets. Single dose accounted for the largest share of the market owing to factors like the ease of administration offered by single dose formulations. Additionally, the availability of the products in autoinjector format further eases the self-administration process. Moreover, single dose format are administered once weekly leading to higher adherence.
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North America was the largest market for overall GLP-1 analogues industry in 2023 and also during the forecast period.
Geographically, the GLP-1 analogues market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The market was dominated by North America in 2023 and this dominance is anticipated to continue throughout the forecast period between 2024 and 2032. The market for GLP-1 analogues is expanding in the North America region as a result of factors like availability and access to majority of the GLP-1 analogue products and high demand for these drugs in the region for indications including type 2 diabetes and obesity.