Market Trends of Liraglutide Industry
Victoza is expected to register the highest growth rate over the forecast period.
Victoza is expected to register the highest growth rate of over 4.21% over the forecast period.
Victoza is used with a diet and exercise program to control blood sugar levels in adults and children 10 years of age and older with type-2 diabetes when other medications did not control levels well. Victoza is also used to reduce the risk of a heart attack, stroke, or mortality in adults with type-2 diabetes mellitus and heart and blood vessel disease. Victoza is not used to treat type 1 diabetes or diabetic ketoacidosis in adults.
Teva Pharmaceuticals agreed to a patent litigation settlement with Novo Nordisk that would see the generic drugmaker wait until December 2023 to begin marketing its generic version of the type-2 diabetes drug Victoza. Novo Nordisk filed a lawsuit in March 2017 after Teva submitted an ANDA application to the FDA seeking approval for a generic version of the drug. Novo Nordisk alleged that Teva was engaging in patent infringement. The Federal Trade Commission and the Department of Justice awarded Teva a license to launch a generic version of Victoza starting December 22, 2023.
The major factors attributing to the growth of the market studied are an increase in obesity among people and a rising prevalence rate of type-2 diabetes and heart diseases. People with more fat in their bodies are highly likely to be affected by diabetes. According to the United Nations estimates published in March 2022, more than one billion people worldwide were obese, including 650 million adults, 340 million adolescents, and 39 million children, and the numbers are likely to rise. The World Health Organization predicted that by 2025, roughly 167 million people are likely to become overweight or obese. Furthermore, as per World Obesity Atlas 2023, the estimates for global levels of overweight and obesity (BMI ≥25kg/m²) suggest that over 4 billion people may be affected by 2035. The prevalence of obesity (BMI ≥30kg/m²) alone is anticipated to rise to 24% of the population over the same period, affecting nearly 2 billion adults, children, and adolescents by 2035.
Hence, owing to the high burden of obesity, the increasing prevalence of diabetes and expected new product launches are expected to fuel market growth over the forecast period.
North America held the highest market share in the current year
The North American region held the highest market share in the current year.
In the North American region, the prevalence of diabetes has increased dramatically during the last two decades, a fact driven by the increased prevalence of obesity and lifestyle changes owing to less physical activity, unhealthy food habits, and other lifestyle factors. According to the Centers for Disease Control and Prevention (CDC) press release in November 2023, more than one in three Americans are at increased risk for type 2 diabetes. Furthermore, more than 1 in 3 adults, i.e., about 98 million Americans, have prediabetes, and 81% of them are unaware of the condition. Similarly, the Government of Canada in October 2022 estimated that over 3 million Canadians, or 8.9% of the population, have been diagnosed with diabetes. After adjusting for the aging population over time, the prevalence has been increasing at an average rate of 3.3% per year. In addition, 6.1% of Canadian adults have prediabetes, putting them at high risk of developing type-2 diabetes.
The American Diabetes Association (ADA), the Endocrine Society, the American College of Physicians, the American Academy of Paediatrics, the Society of General Internal Medicine, and the National Academy of Medicine published statements and issued calls to action to address social determinants of health at the individual, organizational, and policy levels. ADA also published a scientific review describing the associations between SDOH and diabetes risk and outcomes, focusing on socioeconomic status, health literacy, the food environment, food insecurity, and neighborhood and physical environments, among other topics.
The Centers for Disease Control and Prevention (CDC) National Diabetes Statistics Report 2022 estimated that more than 130 million adults are living with diabetes or prediabetes in the United States. Type-2 diabetes is more common, and diabetes is more consequential among communities of color, those who live in rural areas, and those with less education, lower incomes, and lower health literacy.
Therefore, the studied market is anticipated to grow over the analysis period due to rising prevalence and the factors above.
