PUBLISHER: The Business Research Company | PRODUCT CODE: 1566723
PUBLISHER: The Business Research Company | PRODUCT CODE: 1566723
Liraglutide and semaglutide are medications classified as glucagon-like peptide-1 (GLP-1) receptor agonists. They are primarily used to manage type 2 diabetes mellitus and help improve glycemic control in adults with this condition. These injectable medications are generally prescribed when other diabetes or obesity treatments have proven insufficient. They are often included in a comprehensive treatment plan that may also involve diet, exercise, and additional medications as needed.
Liraglutide and semaglutide are available in two main forms pills and liquids. Pills are solid-form medications usually taken orally to treat conditions such as type 2 diabetes mellitus and obesity. The medications can be administered in various ways, including parenteral and oral methods, depending on the application. They are distributed through multiple channels such as hospital pharmacies, retail pharmacies, and online pharmacies.
The liraglutide and semaglutide market research report is one of a series of new reports from The Business Research Company that provides liraglutide and semaglutide market statistics, including liraglutide and semaglutide industry global market size, regional shares, competitors with a liraglutide and semaglutide market share, detailed liraglutide and semaglutide market segments, market trends and opportunities, and any further data you may need to thrive in the liraglutide and semaglutide industry. This liraglutide and semaglutide market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The liraglutide and semaglutide market size has grown rapidly in recent years. It will grow from $13.65 billion in 2023 to $15.19 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The increase during the historical period can be attributed to a rise in diabetes prevalence, a growing number of obesity-related diseases, an upsurge in clinical trials, heightened investment in diabetes research and development, and a growing demand for convenient treatment options.
The liraglutide and semaglutide market size is expected to see rapid growth in the next few years. It will grow to $23.54 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The projected growth for the forecast period can be attributed to the increasing use of GLP-1 receptor agonists, a rise in healthcare spending, the expansion of pharmaceutical product portfolios, higher disposable incomes, and a growing elderly population prone to diabetes. Key trends expected during this period include the integration of digital health platforms, the adoption of personalized dosing strategies, advancements in drug delivery technologies, the development of biosimilar drugs, and the use of artificial intelligence in treatment decision-making.
The growing prevalence of diabetes is anticipated to drive the expansion of the liraglutide and semaglutide markets. Diabetes, a chronic illness marked by high blood sugar levels due to insulin resistance and inadequate insulin production, is increasingly common due to sedentary lifestyles, poor diet, and genetic factors. Liraglutide and semaglutide are crucial for managing diabetes effectively, helping control blood glucose levels and minimizing complications. For example, the International Diabetes Federation projected in July 2021 that the global number of individuals with diabetes would rise to 643 million by 2030 and 783 million by 2045. This growing patient base is expected to fuel demand for liraglutide and semaglutide.
Leading companies in the liraglutide and semaglutide markets are creating anti-diabetic biosimilar drugs to improve glucose management and lower cardiovascular risks for patients. These biosimilars are affordable, nearly identical replicas of original diabetes biologics, designed to offer the same health benefits as the original medications. For example, in January 2024, Glenmark Pharmaceuticals Ltd., based in India, introduced a biosimilar of the widely used anti-diabetic drug Liraglutide in India. This new biosimilar, aimed at enhancing glycemic control for adults with type 2 diabetes mellitus, significantly reduces daily therapy costs by about 70%, with a standard 1.2 mg dose priced around INR 100, making treatment more accessible nationwide. Prescription is required for purchase.
In October 2023, Biocon Limited, an Indian biopharmaceutical firm specializing in biosimilar diabetes medications such as liraglutide (Victoza) and semaglutide (Ozempic), formed a partnership with Juno Pharmaceuticals. This collaboration focuses on bringing Liraglutide, a complex drug-device combination for Type 2 diabetes and obesity treatment, to market. The partnership aims to secure regulatory approval, streamline manufacturing, and enhance supply, ultimately improving healthcare access and affordability through innovative solutions. Juno Pharmaceuticals, based in Canada, develops high-value generic medications, complex formulations, and biosimilars.
Major companies operating in the liraglutide and semaglutide market are Pfizer Inc., Merck & Co. Inc., Bristol-Myers Squibb, AstraZeneca, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Otsuka Holdings Co. Ltd., Sun Pharmaceutical Industries Ltd., Sumitomo Pharma Co. Ltd., Shionogi & Co. Ltd., Cadila Pharmaceuticals, Kyowa Kirin Co. Ltd., Dr. Reddy's Laboratories Ltd., Biocon, Glenmark Pharmaceuticals Ltd., Bachem, Zealand Pharma, Shenzhen JYMed Technology Co. Ltd., Incepta Pharmaceuticals Ltd.
North America was the largest region in the liraglutide and semaglutide market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the liraglutide and semaglutide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the liraglutide and semaglutide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The liraglutide and semaglutide markets consist of sales of medicines such as Victoza, saxenda, ozempic, and rybelsus. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Liraglutide And Semaglutide Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on liraglutide and semaglutide market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for liraglutide and semaglutide ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The liraglutide and semaglutide market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.