Global semaglutide market is anticipated to grow at a significant CAGR of 9.1% during the forecast period (2024-2031). The market growth is driven by the rise in the incidences of diabetes and obesity globally, as it supports controlling blood sugar levels and improving insulin sensitivity. The prolific rise in demand for novel therapies and innovative treatment options, owing to the increasing prevalence of TZDs is also contributing to the market growth. In addition, a strong product pipeline, and favorable reimbursement policies throughout developed economies including North America and Europe drive market demand. Moreover, growing awareness regarding therapeutic benefits offered by new-generation GLP-I agonists is also propelling the market growth.
The global semaglutide market is segmented by route of administration (oral and injection), by distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).
The major players in the global semaglutide market include Novo Nordisk, Eli Lilly, Boehringer Ingelheim, Amgen, Merck & Co., and Rhythm Pharmaceuticals, among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
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Recent Developments
- In September 2024, Wegovy® was recommended by the European regulatory authorities for label update to reflect reduced heart failure symptoms and improved physical function. Wegovy® (semaglutide 2.4 mg) is the first obesity medication to receive a positive opinion.
- In August 2024, a new study published in JACC, the flagship journal of the American College of Cardiology, reported that semaglutide, reduced the rates of COVID-19-related adverse events, including mortality, for overweight patients with established cardiovascular disease without diabetes.
- In June 2024, the WHO medical product alert falsified three batches of OZEMPIC (semaglutide). The batches were detected in Brazil (October 2023), the United Kingdom of Great Britain and Northern Ireland (October 2023), and the United States of America (December 2023). In addition, they were supplied in the regulated supply chain.
- In June 2024, Novo Nordisk presented 34 abstracts in the 84th Scientific Sessions of the American Diabetes Association (ADA). In addition, three trials with semaglutide were also presented in dedicated scientific sessions. The trials assess additional potential benefits of semaglutide, in the evaluation of kidney and cardiovascular endpoints in people with type 2 diabetes and chronic kidney disease (FLOW, semaglutide 1.0 mg) and cardiovascular and glucose-related endpoints in people with obesity and CVD, with and without diabetes (SELECT and STEP HFpEF, semaglutide 2.4 mg).
- In May 2024, Novo Nordisk announced headline results from OASIS 1, a phase 3a trial in the global OASIS programme. OASIS 1 is a 68-week, efficacy, and safety trial comparing once-daily oral semaglutide 50 mg for weight management to placebo in 667 adults with obesity or overweight with one or more comorbidities. The trial resulted in a statistically significant and superior weight loss at week 68 with oral semaglutide 50 mg versus placebo.
- IN May 2024, the European Association For The Study Of Obesity conducted two studies based on the clinical trial of the effects of semaglutide on weight in over 17,000 adults with overweight and obesity (diabetes, not included). The trial results demonstrated patients lost on average 10% of their body weight and over 7cm from their waistline after 4 years.
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