Albany, NY -- (SBWIRE) -- 09/28/2020 -- GLP-1 Receptor Agonist: Introduction
- GLP-1 receptor agonist, also known as incretin mimetics, represents a class of medications used in the treatment of type 2 diabetes mellitus and obesity in adults. Drugs in the GLP-1 Receptor agonist include exenatide, lixisenatide, liraglutide, albiglutide, dulaglutide, and semaglutide. Extensive R&D is a key driver of the GLP-1 receptor agonist market. Several pharmaceutical and biotecnology development companies are engaged in R&D for the development of new formulations and molecules.
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Key Drivers and Restraints of Global GLP-1 Receptor Agonist Market
- Prevalence of diabetes and obesity is expected to increase across the world due to change in lifestyle and various factors such as genetic mutations. According to various government and private organizations operating in the diabetes industry, diabetes is considered one of the top fatal diseases. According to the American Diabetes Association, diabetes accounts for nearly 71,000 deaths in the U.S. each year. About 1 in 11 adults in the country suffers from diabetes.
- According to American Diabetes Association data, in 2018, 34.2 million people in the U.S., or 10.5% of the population, had diabetes. Nearly 1.6 million people in the country have type 1 diabetes, including about 187,000 children and adolescents. Prevalence of diabetes is variable and is expected to increase in the near future. Rise in prevalence of diabetes across the U.S. is anticipated to boost the GLP-1 receptor agonist market.
- The world's population is aging rapidly, especially in some developed countries such as the U.S. and Japan. These countries witness high rates of aging. According to the Population Reference Bureau, the number of people in the U.S. aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group is likely to account for 16% to 23% of the total population. Lifestyle disorders are more prevalent in the geriatric population. In addition to diagnostic and monitoring devices, an increase in the demand for lifestyle disorder drugs is likely to fuel the GLP-1 receptor agonist market.
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North America to Hold Major Share in Global GLP-1 Receptor Agonist Market
- In terms of region, the global GLP-1 receptor agonist market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global GLP-1 receptor agonist market in 2019. It is expected to maintain its dominant position during the forecast period thanks to a well-established pharmaceutical and biopharmaceutical research industry in the region. Presence of leading global pharmaceutical and biopharmaceutical companies in the region also makes it highly lucrative for various products employed in research activities. Europe also holds a notable share in the global GLP-1 receptor agonist market owing to the well-established medicine manufacturing sector and presence of major research laboratories and research-oriented universities in the region.
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- Rapid adoption of emerging technologies and surge in innovation in Asia Pacific and the Middle East offer significant opportunities to manufacturers operating in the market. Moreover, rapid expansion of the pharmaceutical industry, rise in availability of branded drugs, and increase in burden of obesity-related disorders are fueling the market in these regions. Improvement in healthcare infrastructure, rise in use of combination therapies, and increase in pharmaceutical imports are likely to provide opportunities for market players to expand their geographic presence in the Middle East.
Key Players Operating in Global GLP-1 Receptor Agonist Market
The global GLP-1 receptor agonist market is fragmented, with presence of a large number of small-scale and large-scale companies.
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