Fort Collins, Colorado, April 08, 2024 (GLOBE NEWSWIRE) --
Growing cases of diabetes and obesity trigger the need for GLP-1 receptor agonists
Type 2 diabetes and obesity represent critical health challenges affecting a substantial portion of the global population, with their prevalence escalating at concerning rates. GLP-1 receptor agonists stand out as effective treatment options for managing blood sugar levels and facilitating weight loss in individuals with type 2 diabetes and obesity. For example, data from The International Diabetes Federation (IDF) indicates that approximately 537 million adults worldwide had diabetes in 2021, accounting for around 10.5% of the global population. Projections suggest that by 2030 and 2045, these numbers are expected to soar to 643 million and 783 million, respectively. Notably, nearly half of the diabetic adult population remains unaware of their condition. Consequently, the rising prevalence of type 2 diabetes and obesity emerges as a critical driver fueling the growth of the Glucagon-like Peptide 1 (GLP-1) market in the forecast period.
The expansion of healthcare reimbursement and enhanced access to GLP-1 therapies, facilitated by comprehensive insurance coverage and formulary inclusion, are pivotal in bolstering patient access and affordability. This approach effectively dismantles barriers to treatment, fostering broader adoption of GLP-1-based therapies within clinical practice.
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Segmentation Overview:
The global Glucagon-Like Peptide 1 (GLP-1) Agonist Market has been segmented into product type, application, distribution channel, and region.
GLP-1 Receptor Agonists segment growth highly projected in the coming years
- Based on Product Type, the market is bifurcated into GLP-1 Receptor Agonists and Dipeptidyl Peptidase 4 (DPP-4) Inhibitors. GLP-1 Receptor Antagonists (GLP1RAs) are anticipated to spearhead market growth in the forecast period due to their endorsement by international guidelines for managing type 2 diabetes. These guidelines recommend GLP1RAs when treatment becomes necessary following the implementation of metformin and lifestyle interventions. This endorsement underscores the recognized efficacy and suitability of GLP1RAs as a crucial therapeutic option in managing type 2 diabetes. As a result, the demand for GLP1RAs is expected to surge, driving their dominance in the market as healthcare professionals increasingly adhere to these guidelines in clinical practice.
Online distribution channels anticipated fast growth in the forecast period
- Based on distribution channel, the market is further segmented into hospital, retail, and online pharmacies. Online accounted for a significant market share in 2023, and Hospital Pharmacies is expected to hold a dominant position in the forecast period because it play a critical role in ensuring that patients receiving inpatient care or undergoing medical procedures have uninterrupted access to GLP-1 receptor agonists.
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Glucagon-Like Peptide 1 (GLP-1) Agonist Market Report Highlights:
- The global Glucagon-Like Peptide 1 (GLP-1) Agonist market growth is anticipated at a CAGR of 7.8% by 2032.
- The reimbursement for GLP-1 medication covers a broader patient population, including the patient pool with limited financial resources or inadequate insurance coverage. This fosters transparency in healthcare treatments and guarantees that patients receive appropriate treatment.
- The global Glucagon-like Peptide 1 (GLP-1) market share remains dominated by North America. The region accounts for a substantial revenue share owing to the high prevalence of type 2 diabetes and obesity, robust healthcare infrastructure, and favorable reimbursement policies.
- Some prominent players in the Glucagon-Like Peptide 1 (GLP-1) Agonist market report include Eli Lilly and Company, Sanofi, Novo-Nordisk A/S, AstraZeneca, Pfizer Inc, Amgen, Inc., Innovent Biologics, Inc., PegBio Co., Ltd, Sun Pharmaceutical Industries Ltd. And Boehringer Ingelheim International GmbH.
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