Glucagon Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 576.13 Million |
| Market Size (2029) | USD 772.75 Million |
| CAGR (2024 - 2029) | 6.03 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Glucagon Market Analysis
The Glucagon Market size is estimated at USD 576.13 million in 2024, and is expected to reach USD 772.75 million by 2029, growing at a CAGR of 6.03% during the forecast period (2024-2029).
Glucagon medication is usually administered to a diabetic patient to treat severe hypoglycemia. It is also used in diagnostic testing of the gastrointestinal tract. The increasing prevalence of diabetes globally is one of the significant factors influencing market growth. According to a study published by the Lancet Journal in June 2023, in 2021, 529 million people had diabetes worldwide, and this number is estimated to reach 1.3 billion people in the next 30 years. The increasing diabetic population undergoing insulin therapy is at high risk of experiencing severe hypoglycemic episodes. Moreover, all patients at risk for hypoglycemia are to be prescribed glucagon as per the American Diabetes Association recommendation. The increasing incidence of hypoglycemia among the diabetic population is surging the prescription rate of glucagon, thereby driving market growth.
Furthermore, government authorities in certain countries offer reimbursement benefits for glucagon products to surge their adoption rate and reduce the disease burden, fueling market growth. For instance, as per an article published by Xeris Pharmaceuticals Inc., in August 2023, approximately 78% of commercially insured and Medicare lives had unrestricted access to Gvoke HypoPen, a glucagon injection indicated to treat severe hypoglycemia. These benefits offered to the diabetes community increase the accessibility and affordability of glucagon. Hence, reimbursement initiatives and patient assistance programs offered by public and private organizations for glucagon products are projected to drive market growth over the next five years.
Moreover, the technological advancement introduced by market players in glucagon products to simplify the administration process is gradually shifting the patient preference toward novel glucagon products from traditional glucagon kits. The market players are focusing on introducing ready-to-use glucagon, such as rescue pens and nasal sprays, to increase the adoption rate among the patient population. These rescue pens and nasal spray are easily administered through a single or two-step process, compared to a complex eight-stage process required to prepare and use traditional glucagon kits. For instance, per the September 2022 publication of Arecor Therapeutics, conventional glucagon kits often require multiple steps to prepare and use, offering a treatment success rate of 7.9%. In contrast, a nasal glucagon spray offers a 90.6% success rate, and a rescue pen provides a 99% success rate. Thus, better treatment outcomes and ease offered by technological advancements during drug administration are expected to drive the demand for glucagon, fueling market growth.
However, the need for approved products and more education, training, and awareness regarding glucagon administration is anticipated to restrain market growth.
Glucagon Market Trends
Hypoglycemia Segment is Expected to Witness Significant Growth During the Forecast Period
- Severe hypoglycemia is an emergency that affects Type I and Type II diabetic patient populations undergoing insulin and sulfonylureas treatment. Glucagon is an effective treatment for severe hypoglycemia, and the growing emphasis of government entities to increase the availability of this product is contributing to the segmental growth. For instance, according to the internal estimates of Xeris Pharmaceuticals Inc. published in March 2024, approximately 15 million people are at risk of experiencing severe hypoglycemia episodes among the total diabetic population. The prescription rate for this medication is projected to grow in the upcoming years, owing to the growing diabetic population, increased healthcare expenditure, growing focus on reimbursement benefits, and availability of more accessible treatment options.
- The government authorities of several countries offer reimbursement for glucagon products. For instance, according to the NHS Midlands and Lancashire January 2023 Review Publication, the UK reimbursement price for Ogluo, a stable glucagon formulation and pan-European name for Xeris’ Gvoke, is EUR 73 (USD 77.84) per single-use pen. Furthermore, the International Society for Pediatric and Adolescent Diabetes (ISPAD) Clinical Practice Consensus Guidelines November 2022 recommends using glucagon in children who are unconscious or unable to swallow, including intramuscular and easier-to-use preparations administered intranasally or subcutaneously. Hence, such instances emphasize the increasing need for glucagon to treat severe hypoglycemia, thereby projected to drive segmental growth during the forecast period.
- Additionally, introducing ready-to-use glucagon products in different forms, such as prefilled syringes, autoinjectors, and nasal sprays, surges the demand for glucagon among patients suffering from severe hypoglycemia, contributing to segmental growth. For instance, in May 2023, Tetris Pharma Ltd launched Ogluo, a prefilled autoinjector glucagon pen in Denmark and Norway, for treating hypoglycemia in patients with diabetes aged 2 years and above.
- Hence, the hypoglycemia segment is expected to grow significantly during the forecast period due to the reimbursement benefits offered on these products and the availability of glucagon in different forms.
North America is Expected to Dominate the Glucagon Market
- North America is expected to dominate the market due to factors such as the rising prevalence of diabetes, increasing prescription rate of glucagon, developed healthcare infrastructure, new product launches, and the strong presence of market players in this region. For instance, according to the Standards of Care in Diabetes 2024 published in December 2023, approximately 30 million people with diabetes in the United States should be prescribed and have ready-to-use rescue glucagon for use during a potentially severe hypoglycemic episode. Such recommendations emphasize the use of glucagon for the diabetic population to avoid the risk of severe hypoglycemia episodes, which is likely to drive the prescription rate for glucagon products, thus influencing the market’s growth in the region.
- In addition, the Canadian government is focused on increasing the availability of glucagon products across the country to meet the growing shortage. For instance, in July 2023, in response to the Tier 3 shortage, Health Canada declared Amphastar's generic glucagon injectable product "designated drug" status. This status allows drugs approved in other countries to be eligible for "exceptional importation and sale" in Canada during drug shortages.
- Furthermore, the prescription rate for glucagon is increasing owing to the introduction of products with easier administration procedures and longer shelf lives. For instance, as per a study published by Diabetes Care in January 2023, in the United States, glucagon prescription rates increased by 64% among patients with type 1 diabetes. On the other hand, the prescription rate increased by 43% among those treated with short-acting insulin and 25% among those with a history of severe hypoglycemia. Such studies highlight the growing demand for glucagon among the diabetic population, thus contributing to market growth.
- The market players are focusing on expanding their production capacity and geographical presence to meet the growing demand, which is projected to create growth opportunities, thereby influencing market growth in the region. For instance, Novo Nordisk A/S entered a global license and development agreement with Zealand Pharma A/S to commercialize ZEGALOGUE (dasiglucagon) glucagon injection in September 2022. The company's product is approved for treating severe hypoglycemia in pediatric and adult diabetic patients aged six and above. Furthermore, in July 2023, Xeris Biopharma Holdings Inc. shipped more than 1 million units of Gvoke since its launch in the United States. Gvoke is a ready-to-use liquid glucagon approved to treat severe hypoglycemia in patients with diabetes ages two years and above. Such strategic initiatives and milestones achieved by critical players contribute to market growth.
- Therefore, the market is anticipated to grow in North America due to the strong presence of market players and increasing approval of glucagon products.
Glucagon Industry Overview
The glucagon market is consolidated in nature due to the dominance of some players operating globally. The competitive landscape includes an analysis of a few international and local companies which hold substantial market share. Some of them are Xeris Biopharma Holdings Inc., Novo Nordisk A/S, Amphastar Pharmaceuticals Inc., Zealand Pharma A/S Co. Ltd, Arecor, Fresenius SE & Co. KGaA, Taj Pharmaceuticals Limited, ILS Inc., United Biotech (P) Limited, and Avalon Pharma Private Limited.
Glucagon Market Leaders
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Amphastar Pharmaceuticals, Inc
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Xeris Biopharma Holdings, Inc
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Novo Nordisk A/S
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Zealand Pharma A/S
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Fresenius SE & Co. KGaA
*Disclaimer: Major Players sorted in no particular order
Glucagon Market News
- February 2024: Arecor Therapeutics PLC, through its subsidiary company, Tetris Pharma Ltd, launched Ogluo, a glucagon-prefilled autoinjector pen in the Netherlands. It is indicated to treat severe hypoglycemia in adults, adolescents, and children aged 2 years and over with diabetes mellitus.
- June 2023: Amphastar Pharmaceuticals Inc. acquired BAQSIMI, a ready-to-use glucagon powder administered nasally, from Eli Lilly and Company.
Glucagon Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Diabetes
4.2.2 Reimbursement Offered on Glucagon Products
4.3 Market Restraints
4.3.1 Lack of Awareness Regarding Glucagon Administration
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Route of Administration
5.1.1 Injection
5.1.2 Inhalation
5.2 By Application
5.2.1 Hypoglycemia
5.2.2 Diagnostic Aid
5.3 By Distribution Channel
5.3.1 Online
5.3.2 Offline
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Novo Nordisk A/S
6.1.2 Xeris Biopharma Holdings Inc.
6.1.3 Amphastar Pharmaceuticals Inc.
6.1.4 Zealand Pharma A/S
6.1.5 Fresenius SE & Co. KGaA
6.1.6 Taj Pharmaceuticals Limited
6.1.7 ILS Inc.
6.1.8 United Biotech (P) Limited
6.1.9 Arecor
6.1.10 Avalon Pharma Private Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Glucagon Industry Segmentation
Glucagon is used as emergency medical treatment to treat severe hypoglycemia and as a diagnostic aid in imaging of the gastrointestinal tract. Glucagon is recommended to diabetic patients undergoing insulin therapy. This rescue product is available as autoinjector, pre-filled syringe, emergency kit (pre-filled vial and administration syringe), and nasal spray.
The glucagon market is segmented into route of administration, application, distribution channel, and geography. By route of administration, the market is segmented into injection and inhalation. By application, the market is segmented into hypoglycemia and diagnostic aid. By distribution channel, the market is segmented into online and offline. By geography the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. The report also offers the market size and forecasts for 13 countries across the region. For each segment, the market sizing and forecasts have been done on the basis of value (USD).
| By Route of Administration | |
| Injection | |
| Inhalation |
| By Application | |
| Hypoglycemia | |
| Diagnostic Aid |
| By Distribution Channel | |
| Online | |
| Offline |
| By Geography | ||||||||
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| Rest of the World |
Glucagon Market Research FAQs
How big is the Glucagon Market?
The Glucagon Market size is expected to reach USD 576.13 million in 2024 and grow at a CAGR of 6.03% to reach USD 772.75 million by 2029.
What is the current Glucagon Market size?
In 2024, the Glucagon Market size is expected to reach USD 576.13 million.
Who are the key players in Glucagon Market?
Amphastar Pharmaceuticals, Inc, Xeris Biopharma Holdings, Inc, Novo Nordisk A/S, Zealand Pharma A/S and Fresenius SE & Co. KGaA are the major companies operating in the Glucagon Market.
Which is the fastest growing region in Glucagon Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Glucagon Market?
In 2024, the North America accounts for the largest market share in Glucagon Market.
What years does this Glucagon Market cover, and what was the market size in 2023?
In 2023, the Glucagon Market size was estimated at USD 541.39 million. The report covers the Glucagon Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Glucagon Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Glucagon Industry Report
Statistics for the 2024 Glucagon market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Glucagon analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
