GLP-1 Analogues Market worth $471.1 billion by 2032

As per the recently published report by MarketsandMarket?, The report "GLP-1 Analogues Market by Product (Ozempic, Rybelsus, Saxenda, Wegovy, Mounjaro, Zepbound, Victoza, Trulicity), Format (Single dose, Multi-dose, Tablets), ROA (Subcutaneous, Oral), Indication (Diabetes, Obesity) - Global Forecast to 2032", is projected to reach USD 471.1 billion by 2032 from USD 47.4 billion in 2024, at a CAGR of 33.2% during the forecast period.

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Some of the prominent key players are:

• Novo Nordisk A/S (Denmark),
• Eli Lilly and Company (US),
• Sanofi (France),
• AstraZeneca (UK),?
• Jiangsu Hansoh Pharmaceutical Group Co., Ltd. (China) and many more......

Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the GLP-1 Analogues Market Market.

• Based on product format, the global GLP-1 Analogue market is segmented into single-dose, multi-dose, and tablets. In 2023, the single dose segment accounted for the highest growth rate in the GLP-1 Analogue market by product format type. Single dose format is a highly convenient form of the GLP-1 analogs for self-administration as it is increasingly becoming available in the autoinjector form.
• Based on the products, the global GLP-1 analogues market is segmented into Ozempic (semaglutide), Trulicity (dulaglutide), Mounjaro (tirzepatide), Wegovy (semaglutide), Rybelsus (semaglutide), Saxenda (liraglutide [rDNA origin] injection), Victoza (liraglutide), Xultophy 100/3.6 (insulin degludec and liraglutide injection), Soliqua 100/33 (insulin glargine and lixisenatide injection), Zepbound (tirzepatide), Bydureon (exenatide extended-release), and other products.
• The European market for GLP-1 analogue drugs is the second-largest market globally. The share of this market can be attributed to several key factors. Some of the factors include the strong presence of key market players offering GLP-1 drugs, favorable regulatory scenario and availability of majority of GLP-1 products in the region with reimbursement offered in several countries.

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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.