by Glucagon like peptide 1 (GLP-1) analogs are used for the treatment of type 2 diabetes and reduce blood sugar levels. They mimic the effects of endogenous GLP-1 which lowers blood glucose levels by suppressing appetite and glucose-dependent stimulation of insulin secretion. The analogs reduce A1C by ~1% along with weight loss of 2-3 kg. They are administered through once-weekly or once-monthly injections and offer more convenient treatment solutions than daily oral medications. Additionally, they have a low risk of hypoglycemia and help lower systolic blood pressure and LDL cholesterol levels in patients.
The global Glucagon Like Peptide 1 Analogs Market is estimated to be valued at US$ 11.87 Bn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Glucagon Like Peptide 1 Analogs Market is the launch of new peptide analogs. Various manufacturers are developing long-acting GLP-1 receptor agonists to improve treatment efficacy and patient compliance. For instance, in 2021, the FDA approved tirzepatide, a once-weekly dual GIP and GLP-1 receptor agonist for the treatment of type 2 diabetes. It offers superior A1c and weight lowering effects than existing GLP-1 receptor agonists. Similarly, semaglutide was introduced in tablet and oral suspension forms for easier administration. Moreover, companies are conducting clinical trials evaluating the cardiovascular benefits and safety profile of newer analogs to expand their therapeutic applications. This growing product pipeline will help sustain the high demand for GLP-1 analogs over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirement and established distribution channels lower the threat of new entrants in the market. However, presence of large players and patents offers some protection to existing players.
Bargaining power of buyers: Large number of buyers and availability of substitutes increases the bargaining power of buyers in the market.
Bargaining power of suppliers: Established manufacturing facilities and dependence on few API manufacturers increases the bargaining power of suppliers in the market.
Threat of new substitutes: Development of newer therapies and alternatives for diabetes management poses a moderate threat of substitution.
Competitive rivalry: Large number of players offering differentiated products and formulations leads to high competitive rivalry in the market.
Key Takeaways
The global Glucagon Like Peptide 1 Analogs market size is expected to witness high growth over the forecast period. The North America region currently dominates the market and is expected to continue its dominance in the coming years owing to high prevalence of diabetes and technological advancements in the region.
Regional analysis
North America is expected to hold the largest share in the Glucagon Like Peptide 1 Analogs market during the forecast period 2023-2030. Significant efforts by government and private companies for research and development and availability of advanced healthcare infrastructure in the region is supporting market growth.
Key players
Key players operating in the Glucagon Like Peptide 1 Analogs market are Koru Pharmaceuticals Co. LTD, Fusion Meso, PerseBelle, Toskani Cosmetics, Demoaroma Italy srl, Pluryal, Messoessence, Galderma Laboratories L.P., Revitacare, Mesoestetic, and DERMEDICS International. Koru Pharmaceuticals Co. LTD and Galderma Laboratories L.P. hold a prominent share in the global market
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
