The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Liraglutide And Semaglutide Global Market Report 2024, the liraglutide and semaglutide market is expected to show promising growth in the forecast period.

• Significant Growth: The liraglutide and semaglutide market has grown rapidly, increasing from $13.65 billion in 2023 to $15.19 billion in 2024 at a CAGR of 11.3%.
• Key Drivers: The rise is driven by an increasing prevalence of diabetes, obesity-related diseases, investment in clinical trials, and growing demand for convenient diabetes treatments.

Market Growth Forecast

• Future Projections: The market is projected to reach $23.54 billion by 2028, with an 11.6% CAGR.
• Growth Factors: Factors like rising adoption of GLP-1 receptor agonists, increased healthcare spending, and growing elderly populations are expected to fuel this growth.
• Key Trends: Trends shaping the market include digital health platforms, personalized dosing, advanced drug delivery methods, biosimilar developments, and AI integration in treatment decisions.

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Key Market Driver: Rising Diabetic Population

• Diabetes Epidemic: The increasing number of diabetic patients is a major growth driver for the market. Diabetes, caused by sedentary lifestyles, poor diets, and genetics, affects millions globally.
• Liraglutide and Semaglutide Role: These drugs are essential for managing blood glucose levels, reducing diabetes complications, and improving patient outcomes. The International Diabetes Federation reports that diabetes cases could rise to 643 million by 2030 and 783 million by 2045.

Major Market Players

• Leading Companies: Key players include Pfizer, Merck & Co., Eli Lilly, Novo Nordisk, and AstraZeneca.
• Focus on Innovation: These companies are actively developing new products, enhancing drug accessibility, and improving treatment outcomes for diabetic patients.

Industry Innovations: Anti-Diabetic Biosimilars

• Cost-Effective Solutions: Biosimilars, which are near-identical copies of original biologic drugs, are gaining popularity for treating diabetes. They offer similar benefits but at reduced costs.
• Glenmark’s Liraglutide Biosimilar: In January 2024, Glenmark Pharmaceuticals launched a liraglutide biosimilar in India, reducing therapy costs by 70%, thus making treatment more affordable and accessible to diabetic patients.

Market Merger and Acquisition

• Biocon-Juno Partnership: In October 2023, Biocon partnered with Juno Pharmaceuticals to bring liraglutide to the market. This partnership aims to improve the availability of innovative treatments for Type 2 diabetes and obesity through affordable biosimilars.

Regional Outlook

• North American Dominance: In 2023, North America was the largest region in the liraglutide and semaglutide market.
• Asia-Pacific Growth: Asia-Pacific is expected to see the fastest growth during the forecast period due to increasing healthcare investments and rising diabetes prevalence.

Conclusion

The liraglutide and semaglutide market is on a steady growth trajectory, driven by the rising number of diabetic patients, technological advancements, and increasing demand for cost-effective treatment options. Major players continue to innovate and expand, making diabetes care more accessible worldwide. The future looks promising as new biosimilars and advanced therapies reshape the landscape of diabetes treatment.

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