According to a new report published by Allied Market Research, titled, โGLP-1 Receptor Agonist Market – Global Opportunity Analysis and Industry Forecast, 2022-2029” GLP-1 stands for glucagon-like peptide, a type of hormone known as an incretin hormone that is lower than normal in people with type 2 diabetes. GLP-1 receptor agonists belong to a class of medications known as incretin mimetics that help the pancreas to release the optimal amount of insulin, a hormone that transports glucose (sugar) to tissues in the body where it can be used for energy.
The specific role of these drugs is to help lower blood glucose levels specifically, hemoglobin A1C and to aid in weight loss. Research has shown that GLP-1 receptor agonists can have other health benefits, including positive effects on blood pressure, cholesterol levels, and beta-cell function. These injectable drugs are prescribed along with oral diabetes medicines and insulin therapy. As such, they are not regarded as first-line treatment in diabetes, but they can be a valuable part of the overall diabetes management plan.
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The major factor affecting the market growth includes the advancement in the GLP-1 receptor agonist such that it could meet the market demand amalgamated with the stronger product pipeline. This would help the market to gain traction during the forecast period. There has been an increase in the number of diabetic patients and other disorders such as obesity that may cause diabetes, which would propel the growth of the market in the coming years. However, the product failure may hinder the growth of the market.
Rise in the number of product approvals would help the market flourish during the forecast period. For instance, in September 2019, the FDA approved oral semaglutide, the first noninjectable GLP-1 receptor agonist for the treatment of type 2 diabetes. Increase in the number of product approvals that assists with the cure of the diabetes would help the market to gain traction in the coming years.
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COVID-19 Scenario Analysis:
Pharmaceutical and biotechnological companies together with governments around the globe are working to combat the COVID-19 outbreak, from supporting the development of vaccines to scheduling medicines supply chain challenges. Around 115 vaccine candidates and other 155 molecules are in the R&D pipeline. Furthermore, the commonly used drugs, such as hydroxychloroquine, have observed huge boost in demand for the management of COVID-19. In addition, increase has been experienced in the demand for COVID-19 management drugs, which is expected to offer potential opportunity for manufacturers of drugs, as many developed countries are short of these drugs. Owing to the growing demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is anticipated to witness a substantial growth in the next few years.
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- This study presents the analytical depiction of the global GLP-1 receptor agonist industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global GLP-1 receptor agonist market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global GLP-1 receptor agonist market growth scenario.
- Porterโs five forces analysis illustrates the potency of buyers & suppliers in the GLP-1 receptor agonist market.
- The report provides a detailed global GLP-1 receptor agonist market analysis based on competitive intensity and how the competition will take shape in coming years.
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Comprehensive competitive analysis and profiles of major market players such AstraZeneca, Novo Nordisk A/S, Sanofi, and Eli Lilly and Company
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