Liraglutide and Semaglutide Market Size, Share, Growth, and Industry Growth, By Type (Liraglutide and Semaglutide), By Application (Hospital and Drug Store), Regional Forecast To 2031

Liraglutide and Semaglutide Market Report Overview

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The global liraglutide and semaglutide market size is expected to be USD 1.76 billion in 2021 & the market is projected to touch USD 21.751 billion in 2031, exhibiting a CAGR of 11.88% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The global COVID-19 pandemic has been unprecedented and staggering, with liraglutide and semaglutide experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Semaglutide is an anti-diabetic drug used to treat long-term weight management and type 2 diabetes. It is marketed under the trade names Wegovy and Ozempic, among others. Semaglutide is a receptor agonist of GLP-1, which means it acts similarly to the human incretin glucagon-such as peptide-1 (GLP-1), enhancing glycemic management by increasing insulin secretion, blood sugar removal, and disposal. Constipation, abdominal pain, diarrhea, nausea, and vomiting are some possible side effects. Liraglutide is a derived form of native human GLP-1 and balances homology along with it. It is consumed once a day and can be taken without any meals. It is an anti-diabetic medicine used to treat obesity, diabetes, and chronic weight management and is sold under the name of Victoza. These drugs are approved as an auxiliary treatment to exercise and diet for the improvement of glycaemic control in adults suffering from obesity or diabetes.

The medication has been approved as an adjunctive therapy to diet and exercise to improve glycemic control in type 2 diabetic people. The liraglutide and semaglutide market growth is due to the approval, which allows for the use of the drug as a monotherapy, a second-line treatment, as well as in combination with other oral diabetic drugs. The Committee was unable to recommend liraglutide 1.8 mg for the treatment of type 2 diabetes, which is impeding the growth of the market. This is due to the lack of clinical test evidence demonstrating a significant benefit of increasing the dose of liraglutide from 1.2 mg to 1.8 mg, the widely disparate ICERs, and the uncertainty in the economic analysis.

COVID-19 Impact: Rising Health Concerns Boosted the Market Growth

In patients with diabetes mellitus, which increased the severity of coronavirus disease 2019 (COVID-19), which is brought on by infection with the coronavirus. Additionally, COVID-19 made an individual more susceptible to hyperglycemia. Hyperglycemia modified immunological and inflammatory responses combined with other risk factors, predisposing individuals to severe COVID-19 and potentially fatal results. Underlying cardiovascular disease and diabetes mellitus are regarded as risk factors for worsening coronavirus disease 2019 (COVID-19) illness outcomes, including greater death.

LATEST TRENDS

"Rising Prevalence of Diabetes to Augment Market Growth"

The increasing prevalence of diabetes is anticipated to propel liraglutide and semaglutide market growth. Type 2 diabetes is a chronic condition where the patient’s body fails to metabolize glucose, which makes the body resistant to insulin. Insulin is a hormone produced by the pancreas to balance the blood sugar levels in the body. Type 2 diabetes is generally found in adults, but the condition is becoming common among children. It is a medication used to treat this condition. It stimulates the secretion of insulin in the body for the regulation of blood glucose levels. These factors are forecasted to propel the demand for treatment in the global market. 

Liraglutide and Semaglutide Market Segmentation

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• By Type Analysis

By type, the market is segmented into liraglutide and semaglutide.

The Liraglutide segment is expected to lead the market as it is most preferred in the form of pills. 

• By Application Analysis

Based on application, the market is classified into hospital and drug stores. 

DRIVING FACTORS

"Unhealthy Diet to Increases Diabetes and Obesity Cases"

The incidences of obesity and diabetes are on a constant rise due to improper and unhealthy diets. The awareness about various weight control drugs for the treatment of obesity is increasing, coupled with the growing technological advancements, which are increasing the consumption of liraglutide and semaglutide. Moreover, the manufacturer's efforts toward the rising regulatory approvals for new treatment products are estimated to propel market growth. 

"Rising Concern for Health to Aid Market Growth"

The population is more concerned for their health after the pandemic breakdown. Every individual is paying more attention to even a slight change in their body, which is leading to the early detection of obesity and diabetes among the population. The early detection of the disorder is leading to a rise in the consumption of medications. These factors are likely to prosper liraglutide and semaglutide market growth in the forthcoming years.

RESTRAINING FACTORS

"High Cost of the Product to Affect Market Growth"

The cost of liraglutide and semaglutide is higher than other medications, which is expected to resist the middle-class population from adopting this treatment. These factors are estimated to hinder the market growth.

Liraglutide and Semaglutide Market REGIONAL INSIGHTS

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"North America to Lead the Market Owing to the Rising Awareness About the Treatment"

North America is predicted to hold a major part of the liraglutide and semaglutide market share owing to the rising usage of GLP-1 products. The rising research and development expenses by the government are also estimated to augment product demand in the region.

Asia Pacific is forecasted to show sizable growth in the global market by virtue of rising incidences of metabolic diseases such as obesity and diabetes. The number of patients suffering from such conditions is increasing due to the strong presence of the geriatric population. 

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in the Market"

Innovative goods are being created, and they are anticipated to hasten the market expansion for GLP-1 receptor agonists. Pharmaceutical businesses are developing novel formulations, enhanced bioavailability, combination medicines, and administration routes. For instance, Rybelsus, a GLP-1 receptor agonist, was launched by Novo Nordisk in the U.S. market in September 2019. It is the first once-weekly oral semaglutide-based pill, and clinical studies have shown that it is superior to traditional treatment choices for lowering HbA1C and mean change in body weight.

LIST OF TOP LIRAGLUTIDE AND SEMAGLUTIDE COMPANIES

• Novo Nordisk (Denmark)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for stem cells to show potential investment areas. From 2017 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources. The key players are mentioned with their headquarters to offer market insights to the customer.