The global Semaglutide market is estimated to be valued at US$ 2.17 Billion in 2022 and is expected to exhibit a CAGR of 8.71% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Semaglutide is an injectable glucagon-like peptide-1 (GLP-1) receptor agonist used for the treatment of type 2 diabetes and obesity. It helps in regulating blood sugar levels and promotes feelings of fullness.
Market key trends:
One of the key trends in the global semaglutide market is the increasing prevalence of obesity and type 2 diabetes across the globe. As per the International Diabetes Federation, around 537 million adults were living with diabetes in 2021 worldwide and the number is expected to rise to 783 million by 2045. Semaglutide aids in weight management and glycemic control, thus driving its demand.
The global semaglutide market is segmented based on indication, distribution channel, and region. Based on indication, the obesity segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. This is because semaglutide is specifically approved for chronic weight management and shows promising results in reducing body weight among obese and overweight individuals.
The global Semaglutide Market Growth is expected to witness high growth, exhibiting a CAGR of 8.71% over the forecast period 2023-2030, due to the increasing prevalence of obesity and diabetes worldwide.
In terms of regional analysis, North America currently dominates the semaglutide market and is expected to continue its dominance during the forecast period. This is attributed to the rising healthcare expenditure, availability of advanced treatment options, and growing awareness regarding weight management in this region.
The semaglutide market size was valued at US$ 2.17 Billion in 2022 and is projected to reach US$ 4.17 Billion by 2030. Key players operating in the semaglutide market are Novo Nordisk. Novo Nordisk enjoys a dominant position in the market due to its well-established brand name and dedicated R&D facilities for developing novel drug formulations. Other prominent players include Merck & Co., F. Hoffmann-La Roche Ltd, GSK, Johnson & Johnson, Bristol-Myers Squibb, AbbVie, Sanofi, AstraZeneca, Eli Lilly, and Bayer AG.