Semaglutide Market Size (2024 - 2029)

Semaglutide Market Analysis

The Semaglutide Market size is estimated at USD 27.55 billion in 2024, and is expected to reach USD 50.34 billion by 2029, growing at a CAGR of 12.80% during the forecast period (2024-2029).

Obesity is a significant public health concern worldwide, leading to various diseases like stroke, heart disease, cancer, and type 2 diabetes, which are among the significant causes of mortality. Glucagon-like peptide-1 receptor agonists have been identified as a promising option for treating obesity. Currently, five drugs for long-term use for obesity, including orlistat, phentermine-topiramate, naltrexone-bupropion, liraglutide, and semaglutide, are approved by the Food and Drug Administration (FDA). Semaglutide 2.4 mg is administered subcutaneously once a week for adults who are overweight and have a BMI >27 kg/m2 with at least one weight-associated condition (such as high blood pressure, type 2 diabetes, or high cholesterol) or adults with a BMI of 30 kg/m2 or greater.

Semaglutide is used to regulate blood sugar levels in adults with type 2 diabetes, along with exercise and diet, when other medications do not control the sugar levels. In addition, semaglutide reduces the risk of various diseases, such as heart attack and stroke, among adults who have type 2 diabetes. However, the drug is not used in the treatment of type 1 diabetes, which is a severe disease that may develop if high blood sugar is not treated. Semaglutide falls under the incretin mimetics drug class, which functions by helping the pancreas release insulin when blood sugar levels are high. Additionally, the drug slows down food movement through the stomach and may reduce appetite, thus helping with weight loss.

The World Health Assembly Resolution 2022 recommended the integration of treatment and prevention of diabetes into primary health services, the development of pathways for a substantial increase in insulin access, the focus on harmonization and convergence of regulatory requirements for diabetes medicines and technologies, and improved diabetes monitoring and surveillance. It involves the WHO in advising the Member States to ensure the uninterrupted treatment of people living with diabetes in humanitarian emergencies. This critical milestone provides a global mandate for diabetes efforts for the next decade.

Major factors that are expected to boost the market’s growth during 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 R&D, technological developments, and new product launches may provide potential opportunities for glucagon-like peptide 1 (GLP-1) agonists, such as semaglutide, in the coming years.

Semaglutide Industry Segmentation

Semaglutide is an antidiabetic medication used for the treatment of type 2 diabetes and an anti-obesity medication used for long-term weight management. The semaglutide market is segmented by brands and geography. By brands, the market is segmented into Ozempic, Wegovy, and Rybelsus. The report also covers the market sizes and forecast for the semaglutide market in major countries across different regions. For each segment, the market size is provided in terms of value (USD) and volume (units).