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Liraglutide And Semaglutide Global market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company's Liraglutide And Semaglutide Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 23, 2024 /EINPresswire / -- The liraglutide and semaglutide market has experienced robust growth in recent years, expanding from $13.65 billion in 2023 to $15.19 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to the increasing prevalence of diabetes, growing incidence of obesity-related diseases, growth in the number of clinical trials, growing investment in diabetes research and development, and rising demand for convenient treatment options.
What Is The Estimated Market Size Of The Global Liraglutide And Semaglutide Market And Its Annual Growth Rate?
The liraglutide and semaglutide market is projected to grow strongly, reaching $23.54 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to rising adoption of GLP-1 receptor agonists, increasing healthcare expenditure, expansion of pharmaceutical company product portfolios, rising disposable incomes, rising geriatric population susceptible to diabetes.
Explore Comprehensive Insights Into The Global Liraglutide And Semaglutide Market With A Detailed Sample Report:
Growth Driver Of The Liraglutide And Semaglutide Market
The rising number of diabetic patients is expected to propel the growth of the liraglutide and semaglutide markets going forward. Diabetes is a chronic condition characterized by elevated blood sugar levels due to insulin resistance and insufficient insulin production in the body. The rising number of diabetic patients is due to sedentary lifestyles, poor dietary habits, and genetic predispositions. Liraglutide and semaglutide are essential in treating diabetic patients by offering effective management of blood glucose levels and reducing the risk of complications associated with diabetes.
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Who Are the Leading Competitors in the Liraglutide And Semaglutide Market Share?
Key players in the liraglutide and semaglutide market include Pfizer Inc., Merck & Co. Inc., Bristol-Myers Squibb, AstraZeneca, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Otsuka Holdings Co. Ltd., Sun Pharmaceutical Industries Ltd., Sumitomo Pharma Co. Ltd., Shionogi & Co. Ltd., Cadila Pharmaceuticals, Kyowa Kirin Co. Ltd., Dr. Reddy's Laboratories Ltd., Biocon, Glenmark Pharmaceuticals Ltd., Bachem, Zealand Pharma, Shenzhen JYMed Technology Co. Ltd., Incepta Pharmaceuticals Ltd..
Which Key Trends Are Driving Liraglutide And Semaglutide Market Growth?
Major companies operating in the liraglutide and semaglutide markets are developing anti-diabetic biosimilar drugs to enhance glucose control and reduce cardiovascular risks in diabetic patients. Anti-diabetic biosimilars are cost-effective, near-identical copies of original diabetes biologics intended to deliver the same health benefits as the original drugs.
How Is The Global Liraglutide And Semaglutide Market Segmented?
1) By Type: Pills, Liquid
2) By Administration: Parenteral, Oral
3) By Application: Type 2 Diabetes Mellitus, Obesity, Other Applications
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Geographical Insights: North America Leading The Liraglutide And Semaglutide Market
North America was the largest region in the liraglutide and semaglutide market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the liraglutide and semaglutide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Liraglutide And Semaglutide Market Definition
Liraglutide and semaglutide refer to medications categorized as glucagon-like peptide-1 (GLP-1) receptor agonists, prescribed primarily for managing type 2 diabetes mellitus and utilized to improve glycemic control in adults with this condition. They are injectable medications and are typically used when other treatments for diabetes or obesity have not been effective enough. They are often part of a comprehensive treatment plan that includes diet, exercise, and other medications as needed.
Liraglutide And Semaglutide Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global liraglutide and semaglutide market report covering trends, opportunities, strategies, and more
The Liraglutide And Semaglutide Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on liraglutide and semaglutide market size , liraglutide and semaglutide market drivers and trends, liraglutide and semaglutide market major players, liraglutide and semaglutide competitors' revenues, liraglutide and semaglutide market positioning, and liraglutide and semaglutide market growth across geographies. The liraglutide and semaglutide market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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