The semaglutides global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Semaglutides Market, 2024The semaglutides global market report 2024
Market Size –
The semaglutides market size has grown rapidly in recent years. It will grow from $20.54 billion in 2023 to $23.07 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to lifestyle changes contributing to diabetes prevalence, increasing investment in research and development, rising healthcare expenditure, expansion of pharmaceutical companies in developing regions, growing acceptance of injectable therapies.
The semaglutides market size is expected to see rapid growth in the next few years. It will grow to $36.87 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to increasing prevalence of diabetes globally, rising awareness about diabetes management and treatment, growing demand for effective therapies with fewer side effects, government initiatives and policies supporting diabetes treatment, aging population leading to higher diabetes incidence. Major trends in the forecast period include digital health integration, integration of artificial intelligence and machine learning, demand for telemedicine and remote monitoring, development of wearable technology, demand for 3D printing, use of blockchain for supply chain management.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rising prevalence of diabetes is projected to drive the growth of the semaglutide market in the forthcoming years. Diabetes is a chronic condition characterized by elevated blood glucose levels due to the body’s inability to produce or effectively utilize insulin. The increasing incidence of diabetes can be linked to rising obesity rates, sedentary lifestyles, and poor dietary choices. Semaglutide aids in diabetes management by mimicking the GLP-1 hormone, which boosts insulin secretion, reduces glucagon release, and slows gastric emptying, ultimately lowering blood glucose levels and assisting in weight loss. For instance, in November 2021, the International Diabetes Federation (IDF), a Belgium-based non-profit organization, reported that around 537 million people worldwide had diabetes, with projections indicating that by 2045, 783 million people will be affected, marking a 46% increase over recent decades. Hence, the growing prevalence of diabetes will drive the growth of the semaglutide market through 2023, into 2024, and is expected to continue expanding by 2028.
Market Trends –
Major companies operating in the semaglutides market are focusing on developing products, such as GLP-1 receptor analogue, to enhance the efficacy of diabetes and obesity treatments, improve patient adherence, and reduce side effects through advanced delivery systems and personalized medicine approaches. A GLP-1 receptor analogue is a synthetic peptide designed to mimic the effects of glucagon-like peptide-1 (GLP-1), which enhances insulin secretion and regulates blood sugar levels in diabetes treatment. For instance, in January 2022, Novo Nordisk India, an India-based company specializing in pharmaceutical products and services, launched the oral semaglutide, revolutionizing diabetes management. Semaglutide, a GLP-1 receptor analogue (GLP-1 RA) used to treat diabetes, was previously only available as an injection. This marks the first instance of the medication being developed in oral form. Oral semaglutide combines the GLP-1RA semaglutide with an absorption enhancer known as SNAC. This formulation shields semaglutide from degradation in the stomach, a common challenge for peptides, while also improving its absorption.
The semaglutides market covered in this report is segmented –
1) By Brands: Ozempic, Wegovy, Rybelsus
2) By Route Of Administration: Oral, Injection
3) By Application: Type 2 Diabetes, Obesity Management
4) By End-User: Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies
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Regional Insights –
North America was the largest region in the semaglutides market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the semaglutides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Pfizer Inc., Roche Holding AG, Merck & Co. Inc., AbbVie Inc., Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, Novartis International AG, Takeda Pharmaceutical Company Limited, GlaxoSmithKline Plc, Eli Lilly and Company, Amgen Inc., Boehringer Ingelheim International GmbH, Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Cipla Limited, Dr. Reddy’s Laboratories Ltd., Biocon Limited, Hanmi Pharmaceutical Co. Ltd., Intarcia Therapeutics Inc., Adocia SA
Table of Contents
1. Executive Summary
2. Semaglutides Market Report Structure
3. Semaglutides Market Trends And Strategies
4. Semaglutides Market – Macro Economic Scenario
5. Semaglutides Market Size And Growth
…..
27. Semaglutides Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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