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GLP-1 stands for glucagon-like peptide, a type of hormone known as an incretin hormone that is lower than normal in people with type 2 diabetes. GLP-1 receptor agonists belong to a class of medications known as incretin mimetics that help the pancreas to release the optimal amount of insulin, a hormone that transports glucose (sugar) to tissues in the body where it can be used for energy.The specific role of these drugs is to help lower blood glucose levels specifically, hemoglobin A1C and to aid in weight loss. Research has shown that GLP-1 receptor agonists can have other health benefits, including positive effects on blood pressure, cholesterol levels, and beta-cell function. These injectable drugs are prescribed along with oral diabetes medicines and insulin therapy. As such, they are not regarded as first-line treatment in diabetes, but they can be a valuable part of the overall diabetes management plan.
COVID-19 scenarioanalysis
Pharmaceutical and biotechnological companies together with governments around the globe are working to combat the COVID-19 outbreak, from supporting the development of vaccines to scheduling medicines supply chain challenges. Around 115 vaccine candidates and other 155 molecules are in the R&D pipeline. Furthermore, the commonly used drugs, such as hydroxychloroquine, have observed huge boost in demand for the management of COVID-19. In addition, increase has been experienced in the demand for COVID-19 management drugs, which is expected to offer potential opportunity for manufacturers of drugs, as many developed countries are short of these drugs. Owing to the growing demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is anticipated to witness a substantial growth in the next few years.
Top impacting factors:market scenario analysis, trends, drivers, and impact analysis
The major factor affecting the marketgrowth includes the advancement in the GLP-1 receptor agonist such that it could meet the market demand amalgamated with the stronger product pipeline. This would help the market to gain traction during the forecast period. There has been an increase in the number of diabetic patients and other disorders such as obesity that may cause diabetes, which would propel the growth of the market in the coming years. However, the product failure may hinder the growth of the market.
Increase in the number of product approvals
Rise in the number of product approvals would help the market flourish during the forecast period. For instance, in September 2019, the FDA approved oral semaglutide, the first noninjectable GLP-1 receptor agonist for the treatment of type 2 diabetes.Increase in the number of product approvals that assists with the cure of the diabetes would help the market to gain traction in the coming years.
In September 2017, Lupin Ltd., India’s second largest pharmaceutical company, was seeking to enhance its diabetes drugs offering in the domestic market by bringing in a new class of drugs through the in-licensing route.Under in-licensing, a company gets a license to market a product of another company in one or more geographies. Lupin’s current diabetes product portfolio includes different classes of drugs such as oral hypoglycemic agents (OHAs), insulins and novel drugs such as sodium glucose co-transporter-2 (SGLT-2) inhibitor drug empagliflozin and dipeptidylpeptidase-4 (DPP-4) inhibitor drug linagliptin.
Surge in number of mergers and acquisitions
Increase in the number of mergers and acquisitions is anticipated to help the marketboost in the coming years. For instance, in November 2020, Emisphere Technologies, Inc. entered into a definitive agreement with Novo Nordisk A/S. Similarly, Novo Nordisk will acquire Emisphere for $1.35 billion in cash. This would allow Novo Nordisk’s oral semaglutide, GLP-1 receptor agonist to be distributed in a bigger distribution channel and hence would help the market propel over the coming years.
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