Semaglutides Market Report 2024

This Semaglutides market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

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 growth during the historic period can be attributed to lifestyle changes leading to higher diabetes prevalence, increased investment in research and development, rising healthcare expenditure, the expansion of pharmaceutical companies into developing regions, and growing acceptance of injectable therapies.

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%. The growth in the forecast period can be attributed to the increasing global prevalence of diabetes, rising awareness about diabetes management and treatment, growing demand for effective therapies with fewer side effects, supportive government initiatives and policies for diabetes treatment, and an aging population contributing to higher diabetes incidence. Major trends expected during this period include the integration of digital health technologies, advancements in artificial intelligence and machine learning, increased demand for telemedicine and remote monitoring, development of wearable technology, the use of 3D printing, and the application of blockchain for supply chain management.

The rising prevalence of diabetes is anticipated to drive the expansion of the semaglutide market in the coming years. Diabetes is a chronic disease characterized by elevated blood glucose levels due to the body's inability to produce or effectively use insulin. The increasing incidence of diabetes is largely attributed to factors such as rising obesity rates, sedentary lifestyles, and poor dietary habits. Semaglutide plays a key role in diabetes management by mimicking the GLP-1 hormone, which stimulates insulin secretion, reduces glucagon release, and slows gastric emptying, thereby helping to lower blood glucose levels and support weight loss. For example, in November 2021, the International Diabetes Federation (IDF), a Belgium-based non-profit organization, reported that approximately 537 million people globally are living with diabetes. This number has been steadily increasing, with the IDF projecting that by 2.04 trillion people will have diabetes, representing a 46% rise. As a result, the growing prevalence of diabetes is driving the expansion of the semaglutide market.

Key players in the semaglutide market are focusing on developing products such as GLP-1 receptor analogues to enhance the effectiveness of treatments for diabetes and obesity, improve patient adherence, and reduce side effects through advanced delivery systems and personalized medicine approaches. A GLP-1 receptor analogue is a synthetic peptide that mimics the action of glucagon-like peptide-1 (GLP-1), which increases insulin secretion and regulates blood sugar levels in diabetes management. For instance, in January 2022, Novo Nordisk India, an India-based pharmaceutical company, launched oral semaglutide, marking a significant advancement in diabetes treatment. Semaglutide, a GLP-1 receptor analogue (GLP-1 RA) traditionally available only as an injection, was developed in an oral form for the first time. This oral version combines semaglutide with an absorption enhancer known as SNAC, which protects the medication from degradation in the stomach and enhances its absorption.

In May 2024, Novo Holdings, a Denmark-based life sciences company, acquired Catalent for $16.5 billion. This strategic acquisition aims to strengthen Novo Holdings' portfolio by incorporating Catalent's expertise in drug delivery technologies, biologics, and gene therapies, thereby bolstering its position in the global healthcare market. Catalent, Inc. is a US-based company involved in the production of semaglutide.

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.

North America was the largest region in the semaglutides market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the semaglutides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the semaglutides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Semaglutide is a medication used to treat type 2 diabetes and manage obesity. It acts as a GLP-1 receptor agonist, mimicking the hormone that regulates blood sugar and appetite. Administered via injection, it helps lower blood sugar levels and supports weight loss.

The main semaglutide brands are Ozempic, Wegovy, and Rybelsus. Ozempic is a brand of semaglutide that is administered as a once-weekly injectable medication designed to improve blood sugar levels in adults with type 2 diabetes. It is available in both oral and injectable forms and is used for managing type 2 diabetes and obesity. It is distributed through various channels, including hospital pharmacies, retail pharmacies, and online pharmacies.

The semaglutides market research report is one of a series of new reports that provides semaglutides market statistics, including semaglutides industry global market size, regional shares, competitors with a semaglutides market share, detailed semaglutides market segments, market trends and opportunities, and any further data you may need to thrive in the semaglutides industry. This semaglutides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The semaglutide market consists of sales of semaglutide tablets, semaglutide pre-filled pens, semaglutide syringes, and related products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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