Increasing government spending to enhance the healthcare infrastructure is expected to offer lucrative opportunities for the growth of global glucagon market
The global glucagon market is rapidly evolving with the support of large pharmaceutical and biotechnology industries encouraging advanced research and development initiatives for designing highly efficient and safe emergency care solutions targeting the diabetic patients worldwide.
Growing prevalence of health conditions associated with blood-sugar across diverse age groups is raising the need for advanced medications. The market is thus expected to have a promising growth achieving market size of 840 million demonstrating a CAGR of 7.2% over the forecast years 2021-2028. Glucagon-based treatment is globally used to treat severe hypoglycaemia where blood sugar levels drop below the optimum level required for the body to function normally.
Glucagon is a metabolic hormone just like insulin however with an opposite impact. It is naturally secreted in human body instructing the liver to convert stored glycogen reserves onto usable glucose ultimately releasing it into the bloodstream and elevating the excessively blood sugar level. It is very crucial in maintaining standard sugar level in blood and its absence or shortage can have significant implications. It is administered to patients suffering from hypoglycaemia from moderate to severe symptoms. In case of severe hypoglycaemic diabetics, the risk of emergency administration is more and needs efficient care.
The future growth estimations and existing progress of the global glucagon market is outlined to highlight the market attractiveness, trends, and industry strengths. Major growth derivatives back the analysis of the prospective opportunities of the global glucagon market. Some of the key factors such as increasing demand for non-injectable glycogen coupled with increasing introduction of novel technologies and scientific innovations supported by government initiatives to develop healthcare infrastructure are effectively boosting the growth of the global glucagon market over the forecast. In addition, fatal adversities associated with severe hypoglycaemia such as coma or even death is leading to a rise in the need for emergency glucagon kits that can effectively prevent death.
Adroit Market Research report on the global glucagon market gives a comprehensive view of the market from 2018 to 2028 covering a broad spectrum of integral aspects such as the market drivers and restrains, key trends, opportunities, and challenges. The market study has been conducted for historic years from 2018 to 2020 tracing the historic significance with the base year of assessment as 2020 and the future forecast analysed from 2021 to 2028. The report covers the current market dynamics and status accompanied with the future trends and traits analysed at a global as well as country level. The study provides further analysis based on a SWOT analysis followed by Porter’s five forces analysis and covers key player positioning considering parameters such as strategic initiatives, product portfolio and geographic footprint of the prominent players of the global glucagon market.
The glucagon market has a firm competitive landscape consisting of well-known and young market players. Also, the glucagon market players are pursuing product innovation along with seeking new untapped marketspace to acquire with the objective of gaining traction and a competitive lead among other players. The glucagon market players are strategically approaching potential partnerships and deals, collaborations with other industry players and acquiring young entrants for enhancing business presence.
Based on the type Segment, the glucagon market is split into two categories, injectable and nasal glucagon, segmentation driven by the form of administration. The nasal glucagon segment is anticipated to witness promising growth over the forecast for its novel scientific approach and technological capabilities. An array of advantages offered by the unique product is expected to fuel the segment’s growth substantially through the forecast years.
North America is the largest consumer of the glucagon market and thus hold a dominating chunk of market share with potential to experience optimum growth over the forecast period. Increasing cases of patients suffering from diabetes across countries like the U.S. with establishment of large pharmaceutical companies is anticipated to offer lucrative opportunities for the growth of the glucagon market.
The regional growth of North America is followed by Europe which holds second largest market and is likely to maintain an ideal progress rate over the forecast with advancing R&D projects with sufficient government spending. Asia Pacific is estimated to grow at a faster rate with massive population rise across China and India and a rapidly developing medical infrastructure.
The major players of the global glucagon market are Eli Lilly, Taj Pharmaceuticals, Novo Nordisk, Fresenius Kabi, Xeris Pharmaceuticals, and Torrent Labs. The global glucagon market displays diversity of market players consisting of well-established local players alongside the globally expanding entities. Key competitors are approaching novel and innovative concepts focusing on improving product capabilities and thus staying ahead of the competition within the global market.
Key Segments of Global Glucagon Market
Type Overview, 2018-2028 (USD Million)
- Injectable Glucagon
- Nasal Glucagon
Application Overview, 2018-2028 (USD Million)
- Emergency Kits
- General Use
- Diagnostic and Motility
- Cardiogenic Shocks
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa