The semaglutide market has witnessed significant growth due to rising prevalence of diabetes and obesity globally. Semaglutide is a glucagon-like peptide-1 (GLP-1) analog administered via subcutaneous injection for treatment of type 2 diabetes and obesity. It helps in controlling blood sugar levels and aiding weight loss. GLP-1 analogs like semaglutide work by stimulating the release of insulin when blood sugar levels are high and suppressing the release of glucagon when blood sugar levels are low. Semaglutide also helps in reducing appetite and delaying food passage through the stomach. With increasing cases of diabetes and obesity driven by sedentary lifestyle and unhealthy eating habits, the demand for effective drugs like semaglutide has surged.
Key Takeaways
Key players operating in the Semaglutide Market Growth are F. Hoffmann-La Roche AG, Boehringer Ingelheim, Bayer AG, Pfizer Inc., Biogen, Daiichi Sankyo, Bristol-Myers Squibb, Johnson & Johnson, AstraZeneca, SanBio and Athersys Inc. Major players are focused on developing advanced therapeutic versions of semaglutide through ongoing clinical trials and expanding their manufacturing facilities to cater to the growing demand.
The rising obese population due to sedentary lifestyle and growing awareness about effective weight management drugs have opened up opportunities for deployment of semaglutide in the obesity segment. Major companies are investing heavily in research activities and collaborations to develop semaglutide for treatment of obesity.
Key players are also targeting emerging markets through partnerships with regional pharma players. Pharmaceutical giants are establishing manufacturing sites in Asia Pacific and Latin America to ensure availability and affordability of semaglutide in developing nations with large diabetic and obese populations.
Market drivers and restrain: The primary driver for the semaglutide market is rising prevalence of diabetes and obesity globally. As per WHO, diabetes affected around 422 million people worldwide in 2014, rising to around 463 million by 2030. Similarly, global obesity rates have almost tripled since 1975, around 39% of adults aged 18 years and over were overweight and 13% were obese in 2016. This growing disease burden has augmented demand for superior drugs like semaglutide.
However, high cost of newer drugs like semaglutide is a major restraint for market growth. Treatment cost of semaglutide is significantly higher than older generation anti-diabetic and weight loss drugs. Affordability issues may limit widespread adoption, especially in low and middle-income countries. Stringent regulatory framework for approval of GLP-1 analogs also poses challenges for market players.
Segment Analysis
Type 2 Diabetes sub segment is dominating as it contributes more than 85% share of overall semaglutide market. Type 2 diabetes accounts for around 90% of all diabetes cases globally and is caused by lifestyle factors like obesity, lack of exercise etc. Growing prevalence of diabetes and increasing preference for treatment options with fewer side effects are major factors boosting growth of type 2 diabetes sub segment.
Obesity sub segment is also gaining traction due increased adoption of semaglutide for weight management. Incidence of obesity is rising significantly across both developed and developing countries. Semaglutide helps in controlling appetite and reducing weight which is driving adoption for obesity treatment.
Global Analysis
North America region currently holds around 50% share of global semaglutide market owing to high prevalence of obesity and diabetes in countries like US and Canada. Presence of well-established healthcare infrastructure and patient affordability for expensive therapies aid growth in the region. Europe market is second largest regional market and is expected to grow at around 5% CAGR during forecast period. Asia Pacific region is projected to witness fastest market growth during forecast period due to rising geriatric population, changing lifestyle and increasing healthcare expenditure in major countries of the region.
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