GLP-1 Receptor Agonist Market is Expected to Witness Steady Growth by 2027

08/feb/2021 14:03:05 Grand View Research Contatta l'autore

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The global GLP-1 receptor agonist market size is expected to reach USD 18.2 billion by 2027, expanding at a CAGR of 6.1%, according to a new report by Grand View Research, Inc. The strong product pipeline and formulation advancements are driving the market. In addition, novel innovative products are booming the market. In September 2019, Rybelsus, the first and only oral GLP-1 analog was approved by the U.S.FDA for improving the glycemic control in type-2 diabetes patients. It is a semaglutide-based product developed by Novo Nordisk, which is currently under review by European Medicines Agency (EMA) and Pharmaceuticals and Medical Devices Agency (PMDA). After receiving the approval, the market may witness significant growth over the forecast period.

Furthermore, pharmaceutical companies are focusing on research collaborations for developing new GLP-1 products. For instance, in September 2018, Eli Lilly and Company entered into a license agreement with Chugai Pharmaceutical Co., Ltd for OWL833. OWL833 is Chugai’s proprietary oral GLP-1 agonist candidate and as per the agreement Eli Lilly will obtain global commercialization and development rights.

The companies are currently aiming on geographical expansion for increasing the sales output. Novo Nordisk is expanding its business by investing in the manufacturing unit located in North Carolina. The company holds around 50.0% of the market share of GLP-1 receptor agonists and is expected to dominate the market over the forecast period. Furthermore, in July 2018, Sanofi invested about USD 74.1 million in China for establishing an R&D hub to enhance its global reach.

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/glp-1-receptor-agonist-market?

The companies are also focusing on getting approval for other indications like obesity and major adverse cardiovascular events by authorities like the U.S.FDA, EMEA, and others for the existing products to increase their life cycle. For instance, in January 2020, Novo Nordisk received the U.S. FDA approval for Ozempic for Major Adverse Cardiovascular Events (MACE) in type 2 diabetes patients.

GLP-1 Receptor Agonist Market Report Highlights

·         Trulicity was the largest revenue-generating segment in 2019 owing to high prescription rate

·         Ozempic is expected to witness the fastest growth rate over the forecast period due to the benefits like cardiovascular risk reduction, weight loss, and controlled HbA1C levels

·         North America was the largest revenue-generating region in 2019, followed by Europe. The main factors contributing to their growth are increased usage of GLP-1 products, increasing R&D expenditure by government,and well-established biopharmaceutical and pharmaceutical industry in U.S. and Canada

·         Asia Pacific is expected to be the fastest-growing region over the forecast period due to the increasing prevalence of diabetes that supports the uptake of the medication

·         The key market players are adopting strategies such as mergers and acquisitions, product development, product extension, and regional expansion to increase their market share.

 GLP-1 Receptor Agonist Market Segmentation

Grand View Research has segmented the global GLP-1 receptor agonist market based on product and region:

GLP-1 Receptor Agonist Product Outlook (Revenue, USD Million, 2016 - 2027)

·         Victoza

·         Ozempic

·         Trulicity

·         Bydureon

·         Saxenda

·         Others

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