Sustainable Adhesives Market by Type (Recyclable, Renewable, Biodegradable, Green), Raw Material (Water-Based, Plant-Based, EVA Based, Acrylic Based), End-Use Industry (Packaging, Woodworking, Construction, Medical), Region - Global Forecast to 2029
GLP-1 Analogues Market Size, Share & Trends
The size of global GLP-1 analogues market in terms of revenue was estimated to be worth $47.4 billion in 2024 and is poised to reach $471.1 billion by 2032, growing at a CAGR of 33.2% from 2024 to 2032. The comprehensive research encompasses an exhaustive examination of industry trends, meticulous pricing analysis, patent scrutiny, insights derived from conferences and webinars, identification of key stakeholders, and a nuanced understanding of market purchasing dynamics.
GLP-1 analogue drugs have gained high acceptance in recent years, especially after their benefits in treating chronic obesity and weight management became known widely. In addition, the clinical pipeline for this drug class is strong. The pipeline reveals an abundance of products (existing and innovative molecules) expected to launch during the forecast period. A few notable product instances include- Oral semaglutide (25 mg and 50 mg) for type 2 diabetes, CagriSema (a combination product of Cagrilintide and Semaglutide) for obesity as well as type 2 diabetes, Survodutide for the treatment of obesity and Nonalcoholic steatohepatitis (NASH), Semaglutide against NASH, and among others. Thus, this is a key factor driving market growth. However, more than 90% of the marketed products are offered by two key players in the market- Novo Nordisk A/S and Eli Lilly and Company. This has created a duopoly in the market. This factor thus, is expected to create high entry barriers for new entrants in the market.
GLP-1 Analogues Market Trends
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GLP-1 Analogues Market Dynamics
Driver: Strong R&D pipeline
GLP-1 analogues is a class of drugs referred to as incretin mimetics. These drugs aid in regulating blood glucose levels and promote satiety thus, used in the treatment of diabetes and obesity. The drugs have been in high demand for treating obesity in recent years. Also, the drug class is highly adopted for the treatment of type 2 diabetes. Therefore, many key players are in the development of novel drugs for this class. The clinical pipeline reflects a wide range of products in development, along with existing products being tested for novel indications such as Nonalcoholic Steatohhepatitis (NASH) and Alzheimer’s disease, among others. The R&D pipeline is dominated by Novo Nordisk A/S which is the leading player in this market along with some other large pharmaceutical and biopharmaceutical companies like Boehringer Ingelheim International GmbH (Survodutide), Eli Lilly and Company (Retatrutide, Orforglipron), Innovent (IBI362/Mazdutide), Hanmi Pharm (partnered with Merck; Efinopegdutide), Zealand Pharma A/S (Dapiglutide), and Pfizer, Inc. (Danuglipron), among others. Some of the key products of focus include combination products like CagriSema (combination of Cagrilintide and semaglutide) and IcoSema (combination of basal insulin icodec and semaglutide), and oral GLP-1 products.
Restraint: High entry barriers due to duopoly
The market is dominated by two players- Novo Nordisk A/S (Denmark) and Eli Lilly and Company (US). These key players form a duopoly in the market for currently marketed GLP-1 analogues. Some of the key attributes of this duopoly include- strong brand recognition of the products, established geographic network through which the companies offer their GLP-1 analogues globally, and developed and established infrastructure that supports supply to meet the high demand for GLP-1 analogue drugs. Moreover, both companies have patented formulations that restrict generic drug makers from entering this space. Additionally, anticipating high demand for this GLP-1 analogues, the companies are further developing novel therapeutics of this drug class and also enhancing existing manufacturing capacity.
Opportunity: Extended therapeutic uses
The GLP-1 analogues have been traditionally used for the treatment of diabetes as they regulate blood glucose level. Additionally, with the observation of features such as providing enhanced satiety and slower gastric emptying, they have also been highly adopted for the treatment of obesity. The GLP-1 analogues drugs class is now being studied for its potential in the treatment of other indications such as NASH (nonalcoholic steatohepatitis), Alzheimer’s disease, Obstructive Sleep Apnea (OSA) and several cardiovascular indications. GLP-1 analogues help manage weight loss which is a key factor in managing NASH. Moreover, they have shown potential neuroprotective effects, and they possess anti-inflammatory properties that aid in mitigating the chronic inflammation associated with Alzheimer’s disease. Such factors are expected to support adoption of GLP-1 analogues for a wide range of indications.
Challenge: Non-adherence to therapy after 12-24 months
The GLP-1 analogues is a drug class that has gained high adoption for the treatment of type 2 diabetes and obesity. Treatment adherence is the patient’s actions aligning with the prescribed therapeutic regimen. Thus, non-adherence refers to stopping medications before the complete treatment duration is passed, irregular consumption of doses, and not consuming medication as directed. Patients on GLP-1 analogues have been observed not adhering to the treatment post 12 months of initiation. For instance, a study of antiobesity GLP-1 drugs- Wegovy and Saxenda, reveals a drop to 32% of patients remaining on treatment by end 12 months since initiation of the treatment for Wegovy. This share is 21% for Saxenda. A few reasons noted for the same include the injectable nature of the majority of products, side effects such as nausea and vomiting, and high prices in developing economies. Disease bias or stigma, supply constraints and access to these medicinecs are few of the key reasons for patients quitting anti-obesity GLP-1s. Thus, the growing development of oral GLP-1 analogues with minimal side effects is expected to reduce the impact of this challenge.
GLP-1 analogues Market Ecosystem
Prominent companies in the market include companies that have been operating for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in the market include Novo Nordisk A/S (Denmark), Eli Lilly and Company (US), Sanofi (France), and AstraZeneca (UK), among others.
Ecosystem analysis
The GLP-1 analogues market ecosystem comprises supply-side companies as well as demand-side entities that significantly contribute to market growth. The supply-side ecosystem includes pharmaceutical and biotechnology companies, while demand-side entities include home care settings, long-term care facilities, hospitals, and specialty clinics.
Ozempic accounted for the largest share of the product segment in overall GLP-1 analogues industry in 2023.
On the basis of product, the GLP-1 analogues market is segmented product into Ozempic, Trulicity, Mounjaro, Wegovy, Rybelsus, Saxenda, Victoza, Xultophy, Soliqua, Zepbound, Bydureon, and other products. In 2023, the Ozempic segment accounted for the largest share of the market owing to factors such as strong brand recognition for the product, and an established geographic availability globally support the growth of this segment.
The single dose segment dominates the format segment in overall GLP-1 analogues industry in 2023.
On the basis of format, the GLP-1 analogues market is segmented into single-dose, multi-dose, and tablets. Single dose accounted for the largest share of the market owing to factors like the ease of administration offered by single dose formulations. Additionally, the availability of the products in autoinjector format further eases the self-administration process. Moreover, single dose format are administered once weekly leading to higher adherence.
North America was the largest market for overall GLP-1 analogues industry in 2023 and also during the forecast period.
Geographically, the GLP-1 analogues market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The market was dominated by North America in 2023 and this dominance is anticipated to continue throughout the forecast period between 2024 and 2032. The market for GLP-1 analogues is expanding in the North America region as a result of factors like availability and access to majority of the GLP-1 analogue products and high demand for these drugs in the region for indications including type 2 diabetes and obesity.
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The prominent players in the GLP-1 analogues market are Nordisk A/S (Denmark), Eli Lilly and Company (US), Sanofi (France), and AstraZeneca (UK) among others.
Scope of the GLP-1 Analogues Industry
|
Report Metric |
Details |
|
Market Revenue in 2024 |
$47.4 billion |
|
Projected Revenue by 2032 |
$471.1 billion |
|
Revenue Rate |
Poised to Grow at a CAGR of 33.2% |
|
Market Driver |
Strong R&D pipeline |
|
Market Opportunity |
Extended therapeutic uses |
All the market segments have been divided for the GLP-1 Analogues market to forecast revenue and analyze trends in each of the following submarkets:
By Product
- Ozempic
- Wegovy
- Rybelsus
- Saxenda
- Victoza
- Trulicity
- Mounjaro
- Zepbound
- Soliqua
- Xultophy
- Bydureon
- Other products
By Format
- Single-dose
- Multi-dose
- Tablets
By Route of Administration
-
Subcutaneous
- Pen injector
- Autoinjector
- Oral
By Indication
- Diabetes
- Obesity
- Other indications
By End User
- Hospitals and specialty clinics
- Long-term care facilities
- Home care settings
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- UK
- France
- Italy
- Spain
- Netherlands
- Rest of Europe (RoE)
-
Asia Pacific (APAC)
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific (RoAPAC)
-
Latin America
- Brazil
- Mexico
- Rest of Latin America
-
Middle East
-
GCC
- Saudi arabia (ksa)
- United arab emirates (uae)
- Rest of GCC
- Rest of Middle East
-
GCC
- Africa
Recent Developments of GLP-1 Analogues Industry:
- In March 2024, the US FDA approved a label expansion for Wegovy based on a supplemental New Drug Application (sNDA) for reducing risks of major adverse cardiovascular events (MACE), including cardiovascular death, non-fatal heart attack (myocardial infarction) or non-fatal stroke in adults with either overweight or obesity and established CVD.
- In November 2023, Eli Lilly and Company (US) received US FDA approval for Zepbound, an obesity treatment that activates GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) hormone receptors.
Frequently Asked Questions (FAQ):
Who are the key players in the overall GLP-1 analogues market?
Key players in the GLP-1 analogues market Nordisk A/S (Denmark), Eli Lilly and Company (US), Sanofi (France), and AstraZeneca (UK) among others.
Which product dominates in the GLP-1 analogues market?
The Ozempic product segment accounted for the largest share of the GLP-1 analogues market in 2023. Factors such as brand recognition for the product, and an established geographic presence globally support the growth of this segment. .
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The study involved four major activities in estimating the market size of the sustainable adhesives market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, trade directories, articles from recognized authors, the gold standard and silver standard websites, and databases.
Secondary research has been used to obtain key information about the value chain of the industry, the monetary chain of the market, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.
Primary Research
The sustainable adhesives market comprises several stakeholders in the value chain, which include raw material suppliers, manufacturers, distribution and logistics, and end use industries. Various primary sources from the supply and demand sides of the sustainable adhesives market have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders in end-use industries. The primary sources from the supply side include manufacturers, associations, and institutions involved in the sustainable adhesives industry.
Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to raw material, type, end-use industries and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs, were interviewed to understand the buyer’s perspective on the suppliers, products, fabricators, and their current usage of sustainable adhesives and the outlook of their business, which will affect the overall market.
The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022, available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
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|
Company name |
Designation |
|
BASF SE (Germany) |
Individual Industry Expert |
|
Arkema (France) |
Sales Manager |
|
Henkel AG & Co. KGaA (Germany) |
Manager |
|
H.B. Fuller Commpany (US) |
Marketing Manager |
|
Avery Dennison Corporation (US) |
Senior Scientist |
Market Size Estimation
The top-down and bottom-up approaches have been used to estimate and validate the size of the sustainable adhesives market.
- The key players in the industry have been identified through extensive secondary research.
- The industry's supply chain has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of the key market players, along with extensive interviews for opinions with leaders such as directors and marketing executives.
Note: All the shares are based on the global market size.
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
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Sustainable Adhesives Market: Top-Down Approach
Data Triangulation
After arriving at the total market size from the estimation process explained above, the overall market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated by using both the top-down and bottom-up approaches and primary interviews. Hence, for every data segment, there have been three sources—top-down approach, bottom-up approach, and expert interviews. The data was assumed correct when the values arrived from the three sources matched.
Market Definition
The sustainable adhesives market includes manufacturing and the use of adhesive products to meet low environmental impact without affecting the bonding performance. This involves adhesives manufactured from renewable, biodegradable, or recyclable materials and those that reduce volatile organic compound emissions and hazardous chemicals. These sustainable adhesives find applications in industries such as packaging, construction, automotive, and electronics, wherein they serve to meet growing demands by regulators and consumers for eco-friendly solutions. The market is incorporation of different types of sustainable adhesives, correspondingly being water-based, bio-based, and recyclable adhesives—fitting global goals on sustainability and principles underlying the circular economy. Growth in this market is induced by enhanced adhesive technology, stricter environmental regulations, and increased awareness towards the environment among businesses and consumers alike, leading to the adoption of greener alternatives in adhesive applications.
Key Stakeholders
- Sustainable adhesives manufacturers
- Sustainable adhesives traders, distributors, and suppliers
- End-user participants of the sustainable adhesives market
- Government and research organizations
- Associations and industrial bodies
- Research and consulting firms.
- Research & development (R&D) institutions.
- Environmental support agencies.
Report Objectives
- To define, describe, and forecast the size of the sustainable adhesives market, in terms of value and volume.
- To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To estimate and forecast the market size based on raw material, type, end-use industries and region.
- To forecast the size of the market with respect to major regions, namely, Europe, North America, Asia Pacific, Middle East & Africa, and South America, along with their key countries.
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market.
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of market leaders.
- To track and analyze recent developments such as expansions, new product launches, partnerships & agreements, and acquisitions in the market.
- To strategically profile key market players and comprehensively analyze their core competencies.
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional end-use industry
Company Information
- Detailed analysis and profiles of additional market players
Growth opportunities and latent adjacency in Sustainable Adhesives Market