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The semaglutides market size has seen rapid growth in recent years, projected to expand from $20.54 billion in 2023 to $23.07 billion in 2024, reflecting a compound annual growth rate (CAGR) of 12.3%. This historical growth is largely due to lifestyle changes that have contributed to the prevalence of diabetes, increased investment in research and development, rising healthcare expenditures, the expansion of pharmaceutical companies into developing regions, and growing acceptance of injectable therapies. The market is expected to reach $36.87 billion in 2028 with a CAGR of 12.4% during the forecast period. The anticipated growth is fueled by the rising global prevalence of diabetes, heightened awareness of diabetes management, demand for effective therapies with minimal side effects, supportive government initiatives, and an aging population. Prominent trends in this period will include digital health integration, the use of artificial intelligence and machine learning, the demand for telemedicine, the development of wearable technology, and the application of blockchain in supply chain management.

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.

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What Are The Key Trends That Influence Semaglutides Market Share Analysis?

Major firms in the semaglutides market are working on developing products, such as GLP-1 receptor analogues, to improve the effectiveness of diabetes and obesity treatments, enhance patient adherence, and reduce side effects through advanced delivery systems and personalized medicine strategies. A GLP-1 receptor analogue is a synthetic peptide that mimics the effects of glucagon-like peptide-1 (GLP-1), which boosts insulin secretion and regulates blood sugar levels in diabetes management. For instance, in January 2022, Novo Nordisk India, a pharmaceutical company, introduced oral semaglutide, marking a breakthrough in diabetes management. Previously available only as an injection, this is the first instance of the medication being produced in oral form. Oral semaglutide combines the GLP-1 RA with an absorption enhancer known as SNAC, which protects it from degradation in the stomach, a common issue for peptides, while also improving its absorption.

Which Market Players Are Driving Growth In The Semaglutides Market?

Major companies operating in the semaglutides 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

How Is The Global Semaglutides Market Segmented?

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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The Semaglutides Global Market Report 2024 provides an overview of the semaglutidesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The semaglutides market forecast analyzes semaglutides market size, semaglutides market share, leading competitor and their market positions.

The Table Of Content For The Semaglutides Market Include

1. Semaglutides Market Executive Summary
2. Semaglutides Market Segments
3. Semaglutides Market Size And Template Market Growth Rate
4.  Key Semaglutides Market Trends
5. Major Semaglutides Market Drivers
……
25. Key Mergers And Acquisitions In The Semaglutides Market
26. Top Semaglutides Companies
27. Semaglutides Market Opportunities And Strategies
28. Semaglutides Market, Conclusions And Recommendations
29. Appendix

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