Press release
Semaglutides Market Report, Size, Share, Growth, Trends, Industry Forecast to 2033
Semaglutides Market
The new report published by The Business Research Company, titled Semaglutides Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, 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 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%.
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What Is Driving The Growth Of The Global Semaglutides Market?
Impact Of Diabetes Prevalence On Semaglutides Market Growth
The growing prevalence of diabetes is expected to propel the growth of the semaglutide market going forward. Diabetes is a chronic condition characterized by elevated levels of blood glucose resulting from the body's inability to produce or effectively use insulin. The incidence of diabetes is increasing due to factors such as rising obesity rates, sedentary lifestyles, and unhealthy dietary habits. Semaglutide helps in diabetes management by mimicking the GLP-1 hormone, which enhances insulin secretion, reduces glucagon release, and slows gastric emptying, thereby lowering blood glucose levels and aiding in weight loss. For instance, in November 2021, the International Diabetes Federation (IDF), a Belgium-based non-profit organization, reported that about 537 million people worldwide have diabetes. Over recent decades, there has been a steady rise in the number of cases, with the IDF projecting that by 2045, 783 million people will have diabetes, marking a 46% increase. Therefore, the growing prevalence of diabetes is driving the growth of the semaglutide market.
What Is The Key Trend In The Global Semaglutides Market?
Advancements In Semaglutides Market And Product Development
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.
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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How Is The Competitive Landscape Of The Global 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
Contents Of The Global Semaglutides Market
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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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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