Liraglutide and Semaglutide Market - By Type (Pills, Liquid), Route of Administration (Parenteral, Oral) Application (Type 2 Diabetes Mellitus, Obesity), Distribution Channel (Hospital Pharmacies, Retail Pharmacies), & Global Forecast 2023 - 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationLiraglutide and Semaglutide Market - By Type (Pills, Liquid), Route of Administration (Parenteral, Oral) Application (Type 2 Diabetes Mellitus, Obesity), Distribution Channel (Hospital Pharmacies, Retail Pharmacies), & Global Forecast 2023 - 2032
Liraglutide and Semaglutide Market Size
Liraglutide and Semaglutide Market size valued at USD 14.2 billion in 2022 and is estimated to grow at a 11.3% CAGR between 2023 to 2032. Increasing prevalence diabetes coupled with increasing awareness regarding obesity is expected to boost the market growth.
Liraglutide and semaglutide are pharmaceutical medications categorized as glucagon-like peptide-1 receptor agonists (GLP-1 RAs). They are used primarily in the treatment of type 2 diabetes and obesity. Liraglutide and semaglutide act by mimicking the effects of the GLP-1 hormone in the body, helping to regulate blood sugar levels, promote weight loss, and reduce the risk of cardiovascular complications.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Liraglutide and Semaglutide Market Size in 2022 | USD 14.2 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 11.3% |
| 2032 Value Projection | USD 41.2 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 150 |
| Tables, Charts & Figures | 364 |
| Segments covered | Type, Route of Administration, Application, Distribution Channel and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
COVID-19 Impact
The COVID-19 pandemic has severely impacted the global economies with all the sectors witnessing a significant slump during 2020. The healthcare sector was one of the most severely impacted sectors during the pandemic owing to tremendous pressure on the healthcare systems to contain the spread of infection. The pandemic has prompted increased attention towards underlying health conditions leading to growing awareness regarding importance of managing chronic diseases such as diabetes and obesity. Thus, growing awareness created significant demand for medications like liraglutide and semaglutide, as individuals strive to improve their overall health and immune system.
Additionally, the shift towards telehealth services and remote consultations during the pandemic has facilitated easier access to healthcare professionals and medication prescriptions. Thus, aforementioned factors have contributed to a sustained demand for liraglutide and semaglutide, thereby positively impacting the market growth.
Liraglutide and Semaglutide Market Trends
Obesity is a huge problem, and it's a major reason why so many people are getting diabetes these days. That's why medications like liraglutide and semaglutide are in such high demand. When you're obese, your body has too much inflammation and fat. This makes it hard for your body to use insulin properly, which ups your chances of getting type 2 diabetes. Because obesity is becoming more common around the world, there's a huge need for effective treatments to help manage weight and related health problems. These medications have also shown promising results in keeping blood sugar, blood pressure, and cholesterol under control. This has made them valuable for treating a range of health conditions. As people become more aware of diabetes and obesity-related health issues, and governments take more action to promote preventive healthcare, the demand for these medications is only going to keep growing.
Liraglutide and Semaglutide Market Restrain
Various side effects associated with liraglutide and semaglutide use for diabetes and obesity treatment may significantly hamper the market growth. Common side effects associated with the use of these medications include nausea, vomiting, diarrhea and stomach pain. Also, semaglutide injection may increase the risk of developing tumors of the thyroid gland, including medullary thyroid carcinoma. They may potentially increases the risk of pancreatitis and in some cases the patient may also experience hypoglycemia and allergic reactions. Thus, various adverse effects associated with the use of liraglutide and semaglutide may significantly hamper the market growth.
Liraglutide and Semaglutide Market Analysis
The liraglutide and semaglutide market comes in two main formspills and liquid. In 2022, the liquid form was the clear winner, holding a whopping 78% of the market. And it's expected to keep growing strong in the years to come. Why is liquid so popular? For starters, it's easy to take. No need for needles or pills that get stuck in your throat. Just a quick squirt, and you're good to go. This makes it easier for people to stick with their treatment, which is key for managing diabetes. Plus, the liquid form allows for more precise dosing. This means you can get the exact amount of medication you need, which can help improve blood sugar control and reduce the risk of dangerous low blood sugar episodes. On top of that, liquid liraglutide and semaglutide start working faster than pills. This can lead to better outcomes and a more positive experience for patients, which is always a good thing.
Based on route of administration, the liraglutide and semaglutide market is segmented into parenteral and oral. The parenteral are expected to register around USD 39 billion by end of 2032. Increasing segmental growth is owing to the low frequency offered by the parenteral route of administration as compared to the pills. The subcutaneous injection is administered once a week whereas the tablet is administered once a day.
Furthermore, the parenteral route of administration enables bypassing the digestive system that allows liraglutide and semaglutide to be directly absorbed into the bloodstream, resulting in higher bioavailability compared to oral medications. The parenteral route of administration ensures that the amount of the drug reaches its target site and enables to attain therapeutic effects more efficiently. Such aforementioned factors will propel the segmental growth.
Let's talk about the market for liraglutide and semaglutide, which are used to treat conditions like type 2 diabetes and obesity. Type 2 diabetes was the big moneymaker for these drugs in 2022, and experts predict it'll keep growing at an impressive rate of 11.4% over the next few years. That's because liraglutide and semaglutide are powerhouses when it comes to controlling blood sugar. They work by telling your body to release more insulin (which helps lower blood sugar) and slow down the production of glucagon (which raises blood sugar). But there's more! These drugs also help people with type 2 diabetes improve their overall blood sugar control, which can lower their risk of heart attacks, strokes, and other nasty complications. So, with all these benefits, it's no wonder that the market for liraglutide and semaglutide is expected to keep growing strong in the coming years.
The way people buy liraglutide and semaglutide varies. You can find them at hospitals, regular pharmacies, and even online. In 2022, the biggest players were hospital pharmacies, raking in a whopping USD 7 billion. That's because they offer a safe and secure way to store and dispense medication. Plus, they have the know-how to handle complex medications and top-notch staff to make sure everything runs smoothly. What's more, hospital pharmacies work closely with healthcare providers, so they can quickly fill prescriptions, ensure patients get their meds on time, and provide coordinated care. All these advantages mean that hospital pharmacies are expected to keep on growing in the liraglutide and semaglutide market.
North America liraglutide and semaglutide market accounted for over 71% market share in 2022 and is anticipated to grow at considerable growth rate during the forecast timeframe. The increasing prevalence of diabetes and rising awareness regarding the importance of disease management have contributed to the growing demand for liraglutide and semaglutide in the North America region. Furthermore, favorable reimbursement policies and healthcare infrastructure have facilitated their accessibility of liraglutide and semaglutide. Also, presence of key market players and introduction of advanced formulations is expected to proliferate the market growth in the North America region.
Liraglutide and Semaglutide Market Share
Major market players operating in the liraglutide and semaglutide market include
- Novo Nordisk A/S
- HEC Pharma Co
- Shenzhen JYMed Technology Co. Ltd.
- Bachem Holding AG
These industry players majorly adopt various strategies including collaborations, acquisitions, mergers, and partnerships to create a global footprint and sustain market competition. Also, kindly note that the company profile section include both companies that have commercial drug available in market as well as those that are into clinical phase development.
Liraglutide and Semaglutide Industry News
- In March 2023, HEC Pharma’s Rongliflozin is under clinical development in Phase I for Type 2 diabetes. This clinical development will help the company to enhance its product offering in liraglutide and semaglutide market and assist in strengthening the market position.
- In June 2021, Novo Nordisk announced that the U.S. FDA has approved Wegovy, a weekly once semaglutide 2.4 mg injection in the US. Market. The medication is indicated as an adjunct to diet and exercise for chronic weight management in adults with obesity. This strategy helped the company to enhance its product offerings and strengthen revenue generation stream.
This liraglutide and semaglutide market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
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By Type
- Pills
- Liquid
Route of Administration
- Parenteral
- Oral
Application
- Type 2 Diabetes mellitus
- Obesity
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
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