Market Size of Ozempic Industry
| Study Period | 2018-2029 |
| Market Size (2024) | USD 10.99 Billion |
| Market Size (2029) | USD 16.5 Billion |
| CAGR (2024 - 2029) | > 8.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ozempic Market Analysis
The Ozempic Market size is estimated at USD 10.99 billion in 2024, and is expected to reach USD 16.5 billion by 2029, growing at a CAGR of greater than 8% during the forecast period (2024-2029).
During COVID-19, many governmental restrictions were imposed, putting people into lockdown, which led to a rise in obesogenic-prone behaviors. Further, the closure of fitness centers, stay-at-home policies, and increased unhealthy snacking were associated with sustained weight gain and persisted even after lockdown restrictions were lifted. Weight management guidelines recommended a multi-component approach for weight loss in patients living with obesity and overweight. The use of anti-obesity medications was a reliable and effective option for weight control to improve the quality of life and prevent the progression of weight-related comorbidities.
The Food and Drug Administration approved various anti-obesity medications for long-term use for individuals with BMI ≥30 kg/m2 or ≥ 27 kg/m2 with weight-related comorbidities, including Phentermine-topiramate, liraglutide, orlistat, naltrexone-bupropion, and semaglutide. Obesity is a major risk factor for several diseases, including diabetes, heart disease, and some cancers. In obese individuals, the fat cells in the body release pro-inflammatory chemicals, which may make the body less sensitive to the insulin it produces by disrupting the function of insulin-responsive cells. Furthermore, high blood sugar levels during the pandemic were significantly related to both morbidity and mortality. Thus, anti-obesity medications played a vital role in minimizing the risk of high blood glucose sugar levels during the pandemic.
Ozempic (semaglutide) injection is an injectable prescription medicine available in various strengths used along with diet and exercise to improve blood sugar in adults with type 2 diabetes to reduce the risk of major cardiovascular events such as heart attack or stroke in adults with type 2 diabetes with known heart disease. It belongs to a class of drugs called glucagon-like peptide-1 receptor agonists. It is a brand name and is currently not available in generic form. Ozempic comes as a liquid solution inside prefilled, disposable pens.
Major factors that are expected to boost the growth of the studied market in the forecast period are rising obesity and inactivity rates among people, which have resulted in an increase in the diabetes population over time, a rise in the sedentary lifestyle, improper dietary patterns, and the inherent history of diabetes disorders. In addition, rising investment in research and development, technological developments, and new product launches will further provide potential opportunities for the growth of glucagon-like peptide 1 (GLP-1) agonists such as ozempic in the coming years.
