The liraglutide global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Liraglutide Market, 2024The liraglutide global market report 2024
Market Size – The liraglutide market size has grown strongly in recent years. It will grow from $5.87 billion in 2023 to $6.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to the increasing number of people diagnosed with type 2 diabetes, growing obesity rates, extensive clinical trials, growing awareness of diabetes complications, and rising innovations in drug delivery systems.
The liraglutide market size is expected to see strong growth in the next few years. It will grow to $8.90 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to increasing insurance and reimbursement policies, healthcare infrastructure development, increasing awareness and educational initiatives, a growing aging population, and the increasing prevalence of diabetes. Major trends in the forecast period include the use of artificial intelligence and machine learning, demand for wearable technology, continuous glucose monitoring integration, biotechnology advancements, and the development of digital health platforms.
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Scope Of Liraglutide MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Liraglutide Market Overview
Market Drivers -The increasing population of individuals with diabetes is likely to propel the growth of the liraglutide market in the upcoming years. Diabetes, a chronic condition characterized by the body’s inability to effectively regulate blood sugar levels, is on the rise due to sedentary lifestyles, unhealthy diets, and increasing obesity rates globally. Liraglutide, a diabetes medication, mimics the action of the hormone GLP-1, enhancing insulin secretion, lowering blood sugar levels, and promoting weight loss, thereby aiding in managing type 2 diabetes. For instance, in 2021, the International Diabetes Federation (IDF), a Belgium-based non-profit organization, reported that 537 million adults aged 20–79, or 1 in 10, were living with diabetes. This number is projected to rise to 643 million by 2030 and reach 783 million by 2045. Notably, over 75% of adults with diabetes live in low- and middle-income countries. Consequently, the increasing diabetic population is driving the growth of the liraglutide market.
Market Trends – Major companies operating in the liraglutide market are developing novel products, such as generic GLP-1, to expand treatment options and address market demand for more affordable alternatives. Generic GLP-1 refers to versions of GLP-1 receptor agonists that are produced after the expiration of patent protection on the original branded medications, offering cost-effective alternatives for treating conditions like type 2 diabetes and obesity. For instance, in June 2024, Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company, introduced the first generic GLP-1, similar to Victoza, in the U.S. market, meeting the rising demand for these therapies. Liraglutide injections are prescribed to enhance blood sugar management in adults and children aged 10 and above with type 2 diabetes and to lower the risk of cardiovascular incidents in adults with type 2 diabetes and existing cardiovascular conditions.
The liraglutide market covered in this report is segmented –
1) By Brands: Victoza, Saxenda
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies And Drug Stores, Online Pharmacies
3) By Type Of Application: Diabetes Treatment, Weight Management
4) By End-Users: Hospitals And Clinics, Homecare Settings
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Regional Insights – North America was the largest region in the liraglutide market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the liraglutide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the 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
Table of Contents
1. Executive Summary
2. Liraglutide Market Report Structure
3. Liraglutide Market Trends And Strategies
4. Liraglutide Market – Macro Economic Scenario
5. Liraglutide Market Size And Growth
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27. Liraglutide Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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