Market Trends of Incretin-based Drugs Industry
This section covers the major market trends shaping the Incretin Based Drugs Market according to our research experts:
Glucagon-like Peptide-1 (GLP-1) Receptor Agonists Holds Significant Share in the Global Incretin-Based Drugs Market
Glucagon-like peptide-1 agonists are a class of medications utilized in the treatment of type 2 diabetes and obesity. Examples of drugs in this class include exenatide, lixisenatide, liraglutide, albiglutide, dulaglutide, and semaglutide. The segment is expected to grow during the forecast period owing to the high burden of diabetes, and obesity, rising research activities, and product launches and approvals by market players.
According to a Statpearls article updated in November 2022, the addition of a GLP-1 analog should be considered in patients with a metformin contraindication or intolerance, in patients with a hemoglobin A1c greater than 1.5% above target, or in patients who do not reach their target A1c in three months, especially in patients with atherosclerosis, heart failure, or chronic kidney disease. Therefore, the advantage of GLP-1 in metformin-resistant patients is expected to propel the demand for GLP-1 during the forecast period.
Furthermore, product approvals and launches by market players significantly add to the market growth. For instance, in May 2022, the US FDA approved Mounjaro (tirzepatide) injection to improve blood sugar control in adults with type 2 diabetes as an addition to diet and exercise. The rising approvals are expected to boost segment growth.
Therefore, the above-mentioned factors, such as the advantage of GLP-1 and rising approvals, the segment is expected to witness significant growth during the forecast period.
North America is Expected to Dominate the Incretin-Based Drugs Market Over the Forecast Period
North America is expected to dominate the market owing to factors such as the rising incidence of diabetes and obesity, product launches, and approvals, along with the high concentration of market players in the region.
As per IDF 2021 report, the number of adults (20-79 years) with diabetes in the North American region (including the United States, Canada, and Mexico) was 49.3 million in 2021. As per the same source, the number of diabetes in the North American region is predicted to reach over 55 million by 2030. The rising burden of diabetes in the region is expected to propel the demand for needle-free insulin delivery devices, thereby augmenting market growth.
Furthermore, according to the World Population Review 2022 data, around 29.4% of the people in Canada were affected by obesity. The high burden of obesity in the region is associated with a high probability of developing type-2 diabetes during the forecast period, thereby propelling the market growth.
Additionally, the strategic initiatives adopted by market players, such as product approvals, launches, and partnerships to expand the offerings, are expected to propel the market growth. For instance, in December 2021, the Food and Drug Administration approved the second biosimilar insulin product, Eli Lilly's Rezvoglar (insulin glargine-aglr). Rezvoglar (insulin glargine-aglr) is biosimilar to Lantus (insulin glargine). Also, in July 2021, the United States Food and Drug Administration approved the first interchangeable biosimilar insulin product, indicated to improve glycemic control in adults and pediatric patients with Type 1 diabetes mellitus and in adults with Type 2 diabetes mellitus.
Therefore, owing to the above-mentioned factors, such as the high burden of diabetes and obesity, rising product approvals, and launches by market players, the growth of the studied market is anticipated in the North America Region.
