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GLP-1 Receptor Agonist Market Size Worth $18.2 Billion By 2027 | Grand View Research, Inc.

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GLP-1 Receptor Agonist Market Size Worth $18.2 Billion By 2027 | Grand View Research, Inc.

June 23
15:50 2020
GLP-1 Receptor Agonist Market Size Worth $18.2 Billion By 2027 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The GLP-1 receptor agonist market size was valued at USD 11.3 billion in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 6.1% from 2020 to 2027. Formulation advancements of GLP-1 receptor agonist coupled with presence of robust product pipeline is expected to drive the market over the forecast period.

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.

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Some of the key players in the GLP-1 receptor agonist market include:

  • Eli Lilly and Company
  • Sanofi
  • Novo Nordisk A/S
  • AstraZeneca

https://www.grandviewresearch.com/static/img/research/us-glp-1-receptor-agonist-market-size.png

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.

 

Have some specific queries about this report, our team of analyst will be glad to help!

The GLP-1 receptor agonist market size was valued at USD 11.3 billion in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 6.1% from 2020 to 2027. Formulation advancements of GLP-1 receptor agonist coupled with presence of robust product pipeline is expected to drive the market over the forecast period. As per the International Diabetes Federation in 2019, around 463 million people aged 20 – 79 years were estimated to be diabetic worldwide. Furthermore, overweight and obese people are exposed to the risks of developing diabetes and cardiovascular diseases. According to WHO, in 2016, over 1.9 billion adults were found to be overweight which may result in increased usage of GLP-1 receptor agonist.

Innovative products are being developed which are expected to accelerate the growth of the market for GLP-1 receptor agonist. Pharmaceutical companies are making innovations in terms of formulations, improved bioavailability, combination therapies, and route of administration. For instance, in September 2019, Novo Nordisk introduced Rybelsus in the U.S. market for GLP-1 receptor agonist. It is the first once-weekly oral semaglutide based tablet and has been found to be more effective than conventional treatment options for the reduction of HbA1C and mean change of body weight in the clinical studies.

https://www.grandviewresearch.com/static/img/research/global-glp-1-receptor-agonist-market-share.png

In addition, companies are engaged in developing novel GLP-1 products. For instance, Sanofi in collaboration with HanmiPharm.Co.,Ltd are developing efpeglenatide, a GLP-1 receptor agonist for type 2 diabetes and obesity.It is currently undergoing phase-3study. Furthermore, Boehringer Ingelheim and Zealand Pharma A/S announced the initiation of phase 2 clinical trial for its dual-acting GLP-1/glucagon receptor agonist, BI 456906 in September 2019. The strong product pipeline is anticipated to propel growth of the GLP-1 receptor agonist market.

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

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

  • Victoza
  • Ozempic
  • Trulicity
  • Bydureon
  • Saxenda
  • Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Website: https://www.grandviewresearch.com/industry-analysis/glp-1-receptor-agonist-market

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