The global glucagon market is projected to grow significantly, with its size expected to reach USD 1102.2 million by 2033, up from USD 621.3 million in 2023, marking a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2024 to 2033. This growth is driven by several factors, including the rising prevalence of diabetes, which increases the demand for glucagon as an emergency treatment for severe hypoglycemia. Technological advancements, such as the development of nasal glucagon and stable liquid formulations, are also contributing to market expansion by enhancing the ease and efficacy of glucagon administration.
However, the market faces challenges such as stringent regulatory requirements and the high cost of advanced glucagon therapies, which may limit their adoption in some regions. Additionally, economic fluctuations can impact healthcare budgets and the ability of patients to afford treatment.
Recent developments in the market include strategic partnerships, mergers, and product innovations. Companies like Eli Lilly and Xeris Pharmaceuticals are focusing on enhancing their product portfolios and expanding their market presence through new product launches and collaborations. For instance, Xeris Pharmaceuticals has introduced innovative delivery devices like Gvoke HypoPen, which improve patient compliance and convenience.
Regionally, North America holds a dominant market share due to its advanced healthcare infrastructure and high diabetes prevalence. Europe follows closely, benefiting from robust healthcare systems and supportive regulatory environments. The Asia-Pacific region is poised for rapid growth, driven by increasing diabetes rates and expanding healthcare access in countries like China and India.
Overall, the glucagon market is set for steady growth, supported by continuous innovations and increasing awareness of severe hypoglycemia management.
Key Takeaways
- The global glucagon market is expected to rise from USD 621.3 million in 2023 to approximately USD 1102.2 million by 2033, growing at a CAGR of 5.9%.
- Injectable glucagon leads the market with a 43.9% share in 2023, preferred for emergency hypoglycemia treatment due to its rapid action.
- The therapeutic use segment holds over 57.3% of the market share, driven by its widespread use in severe hypoglycemia emergencies.
- Advancements in delivery methods, such as nasal sprays, offer opportunities for improved patient compliance.
- Strategic alliances and R&D investments are driving innovation in glucagon formulations and applications.
- North America dominates the market with a 34.5% share in 2023, supported by a robust healthcare infrastructure.
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Glucagon Market Key Segments
Product Type
- Kits
- Injectable
- Nasal/Powder
Application
- Therapeutic Use
- Diagnostic Use
Key Regions
- North America (The US, Canada, Mexico)
- Western Europe (Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, Rest of Western Europe)
- Eastern Europe (Russia, Poland, The Czech Republic, Greece, Rest of Eastern Europe)
- APAC (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of APAC)
- Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, Rest of Latin America)
- Middle East & Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, Rest of MEA)
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Key Players Analysis
Fresenius Kabi, a global healthcare company, introduced its Glucagon Emergency Kit in the U.S. to treat severe hypoglycemia in diabetic patients. The kit includes 1 mg of Glucagon for Injection and a prefilled syringe with sterile water, designed for easy and quick administration during emergencies. The bright orange case ensures visibility, and the kit’s affordability is enhanced by a co-pay assistance program. The company also provides injection training kits for healthcare providers to educate patients. This initiative aligns with Fresenius Kabi’s commitment to offering cost-effective, life-saving treatments.
Eli Lilly and Company is a leading player in the glucagon market, known for its glucagon emergency kits. These kits, designed to counter severe hypoglycemia, were pioneering in their field. Eli Lilly’s portfolio also includes Baqsimi, a nasal glucagon powder approved for treating severe hypoglycemia in diabetic patients. This innovation simplifies administration, especially in emergency situations, making it easier for caregivers to use. Eli Lilly’s commitment to diabetes care extends beyond products, involving comprehensive patient support programs and ongoing research to enhance treatment options.
Xeris Pharmaceuticals focuses on developing ready-to-use, room-temperature stable formulations of injectable therapies. Their Gvoke HypoPen, an autoinjector for glucagon, simplifies the treatment of severe hypoglycemia. Unlike traditional kits requiring reconstitution, Gvoke HypoPen offers a pre-mixed, easy-to-administer solution, improving convenience and reducing error risk during emergencies. Xeris Pharmaceuticals continues to innovate in the glucagon sector, enhancing patient safety and treatment efficacy with their user-friendly products.
Novo Nordisk is renowned for its extensive diabetes care portfolio, including GlucaGen HypoKit, a critical treatment for severe hypoglycemia. The kit contains a pre-filled syringe and glucagon powder for reconstitution. Novo Nordisk’s innovation extends to their research in next-generation glucagon formulations and delivery methods. Their commitment to improving diabetic care is evident in their continuous development of more efficient and user-friendly glucagon products. Novo Nordisk’s efforts in the glucagon market are part of their broader strategy to enhance diabetes management globally.
Avalon Pharma Pvt. Ltd, though a smaller player in the glucagon market, contributes significantly with its cost-effective and accessible glucagon treatments. The company focuses on providing affordable healthcare solutions, ensuring that essential treatments like glucagon are available to a broader population. Avalon Pharma’s approach includes developing stable and easy-to-administer glucagon formulations, aligning with their mission to improve healthcare accessibility and patient outcomes in emerging markets.
Glucagon Market Key Players:
- Fresenius Kabi
- Eli Lilly and Company
- Xeris Pharmaceuticals Inc
- Novo Nordisk A/S
- Avalon Pharma Pvt. Ltd
- Other Key Players
Glucagon Market Report Scope >> Market Value (2023): USD 621.3 Mn || Forecast Revenue (2033): USD 1102.2 Mn || CAGR (2024-2033): 5.9% || Base Year Estimation: 2023 || Historic Period: 2019-2022 || Forecast Period: 2024-2033.
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