Glucagon Market Infographics Description
- The global glucagon market was valued at US$ 461 Mn in 2019.
- Worldwide glucagon market is projected to reach US$ 837.0Mn in 2029 at a CAGR of 6.2% from 2020 to 2029.
- Amongst product types the kits glucagon type in the global glucagon market is estimated to account for a majority revenue share of 78.6% in 2019, owing to growing advancements in therapies & drugs and rising funding by leading organizations.
- Among all the application segments, the emergency use is expected to register the highest CAGR of over 6.3%, owing to the increasing pharmaceutical segment in an emerging nation
- North America market is expected to dominate the global glucagon market and is expected to account for the largest market revenue share as compared to that of markets in other regions.
- Companies profiled in the report are Novo Nordisk A/S, Eli Lilly & Co, Fresenius SE & Co. KGaA, Torrent Pharmaceuticals Ltd, Xeris Pharmaceuticals, Inc., Svar Life Science AB, Taj Pharmaceuticals Ltd.
Report Overview
According to Market.us, The Global Glucagon Market size is expected to be worth around USD 1102.2 Million by 2033, from USD 621.3 Million in 2023, growing at a CAGR of 5.9% during the forecast period from 2024 to 2033. Glucagon is a vital peptide hormone produced by the alpha cells in the pancreas. It plays a crucial role in regulating blood glucose levels by increasing them when they fall too low. This is achieved through processes like glycogenolysis, where glycogen stored in the liver is converted back into glucose and released into the bloodstream. Glucagon’s function is essential in maintaining energy balance and is particularly critical during fasting or low sugar levels.
The glucagon market is primarily driven by its critical role in medical treatments, particularly in managing hypoglycemia (low blood sugar) in diabetic patients. Glucagon kits are used in emergency situations to quickly elevate blood glucose levels, thus preventing severe complications like seizures or comas. The market demand for glucagon is also bolstered by the rise in diabetes prevalence globally, as glucagon administration is key in acute diabetic care.
The primary driver of the glucagon market is the increasing incidence of diabetes worldwide, coupled with the essential need for emergency management of severe hypoglycemia. The aging population, which is more susceptible to hypoglycemic episodes, also contributes significantly to the demand for glucagon therapies.
There is a consistent demand for glucagon due to the ongoing need for effective hypoglycemia management in diabetic patients. Opportunities in the glucagon market are expanding with innovations in glucagon administration, such as the development of nasal spray forms and pre-mixed injection pens, which offer easier and quicker ways to treat hypoglycemia, particularly in non-medical settings.
Recent technological advancements in the glucagon market include the development of new glucagon delivery systems, such as nasal sprays and auto-injector pens. These innovations enhance the ease of use and rapid action in emergency situations, making it feasible for non-health professionals to administer the hormone effectively during hypoglycemic episodes. These advancements not only improve patient outcomes but also extend the potential use of glucagon in various medical and non-medical environments.
Key Highlights
- With a market share of 43.9% in 2023, injectable glucagon remains the preferred choice for treating emergency hypoglycemia. Its rapid action and proven effectiveness make it indispensable in critical situations.
- The therapeutic use of glucagon holds a commanding 57.3% market share, primarily due to its essential role in managing severe hypoglycemia cases. This segment continues to be driven by the rising prevalence of diabetes worldwide.
- Advancements such as nasal spray formulations are reshaping the market, offering patients easier and more convenient options. These developments are expected to boost patient compliance significantly.
- Ongoing investments in research and development, coupled with strategic partnerships, are paving the way for innovative glucagon formulations and applications, further enhancing the market’s potential.
- NAccounting for 34.5% of the market share in 2023, North America leads the global market. This dominance is supported by a robust healthcare infrastructure, increasing diabetes prevalence, and high awareness among healthcare providers and patients.
Driver
Increasing Burden of Diabetes
The escalating global prevalence of diabetes is a significant driver for the glucagon market. As societies face growing incidences of both type 1 and type 2 diabetes due to factors such as aging populations, urbanization, and lifestyle changes, the demand for emergency medical interventions such as glucagon increases.
Glucagon is critical for managing severe hypoglycemia in diabetic patients, providing a rapid response treatment that elevates blood glucose levels swiftly to prevent complications. Innovations in glucagon delivery methods, such as pre-filled syringes and autoinjector pens, have further expanded its user base, encompassing not only patients but also caregivers and emergency medical personnel who benefit from simplified administration procedures.
Restraint
High Cost of Glucagon Kits
A major restraint in the glucagon market is the high cost associated with glucagon kits. Over the last decade, prices for these kits have seen significant increases, impacting patients, particularly in lower-income regions. Despite advancements in product design that improve ease of use and administration, the financial barrier remains a significant hurdle. This high cost can deter consistent access to glucagon, which is crucial for emergency treatment of severe hypoglycemia in diabetic patients, thereby limiting the overall market growth.
Opportunity
Advancements in Glucagon Delivery Methods
Recent advancements in glucagon delivery methods represent a considerable opportunity for market growth. The development of nasal sprays and more user-friendly pre-filled syringes has made administration easier and faster, which is crucial in emergency situations. Such innovations not only improve patient compliance but also broaden the market to include those who might have been reluctant to use traditional injectable forms due to needle phobia or other concerns. As these new delivery methods become more widely accepted and adopted, they open up the glucagon market to a broader audience.
Challenge
Lack of Public Awareness
Despite the critical importance of glucagon in managing diabetes, a significant challenge in the market is the general lack of public awareness about glucagon administration and its importance. Many individuals, including some who are at risk of hypoglycemic episodes, are not aware of glucagon and its benefits.
This lack of awareness can limit the demand for glucagon, as the potential users who could benefit the most from glucagon are not well informed about its availability or the specific conditions it addresses. Educating the public and increasing awareness through social media and other platforms could help mitigate this challenge and expand the market reach
Key Players
- Fresenius Kabi
- Eli Lilly and Company
- Xeris Pharmaceuticals Inc
- Novo Nordisk A/S
- Avalon Pharma Pvt. Ltd
- Other Key Players
