As per MRFR analysis, the Glucagon Market Size was estimated at 7.41 (USD Billion) in 2022.
The Glucagon Industry is expected to grow from 7.91 (USD Billion) in 2023 to 14.2 (USD Billion) by 2032. The Glucagon Market CAGR (growth rate) is expected to be around 6.72% during the forecast period (2024 - 2032).
Key Glucagon Market Trends Highlighted
Key market drivers for glucagon include the increasing prevalence of diabetes, rising demand for diabetes management, and technological advancements in glucagon delivery devices. Opportunities lie in expanding into emerging markets, developing combination therapies, and leveraging personalized medicine approaches.
Recent trends in the glucagon market include the emergence of biosimilar glucagon, the development of long-acting glucagon formulations, and the growing adoption of telemedicine for diabetes management.
Technological advancements, such as continuous glucose monitoring devices and automated glucagon delivery systems, are transforming the market by improving patient safety and convenience.
To capture these opportunities and address market demands, players are focusing on innovation and collaboration. Companies are investing in research and development to bring new products and therapies to market while also partnering with healthcare providers and patient advocacy groups to improve patient outcomes and access to care.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Glucagon Market Drivers
Technological Advancements Drive Innovation in the Glucagon Market
There are a number of important drivers for the significant growth of the Glucagon Market in the coming years. First of all, the increasing prevalence of diabetes is one of the most important driving factors, as it is a major risk factor for developing glucagon deficiency.
According to the International Diabetes Federation, in 2019, there were an estimated 463 million adults (20-79 years) living with diabetes, and the number is expected to rise to 700 million by 2045.
Ultimately, as the number of people with diabetes will be increasing, the demand for glucagon will also increase as people with diabetes are the primary consumers of this drug since it is currently used for the treatment of severe hypoglycemia.
Another important factor is the increasing adoption of new and innovative technologies. Recently, several new technologies have been developed to deliver glucagon, making it easier and more convenient for patients to consume it.
For example, in 2019, Eli Lilly and Company launched the first-ever pre-filled glucagon pen, which is more user-friendly and less intimidating than a traditional glucagon injection kit. These technologies continue to develop, and it is expected that the increasing innovation in the ways glucagon can be delivered to patients will continue to drive growth in the global glucagon market.
Finally, the increasing awareness of glucagon deficiency can be considered another driving factor.
Previously, glucagon deficiency was often misdiagnosed or not diagnose at all. However, today, it is becoming increasingly more diagnosed and recognized, largely thanks to efforts of patient advocacy groups and healthcare professionals, who work towards raising awareness about this condition.
Overall, there are a number of important drivers for the significant growth of the Glucagon Market in the coming years, such as the increasing prevalence of diabetes, the increasing adoption of innovative new technologies, and the increasing awareness of glucagon deficiency.
Rising Prevalence of Diabetes Contributes to Glucagon Market Expansion
The Glucagon Market is primarily driven by the increasing incidence of diabetes. Diabetes is a chronic disease that affects the body's ability to produce and use insulin. Insulin is a hormone that helps glucose get from the blood into the body’s cells.
When people are living with diabetes, the body does not make enough insulin, or it cannot use its own insulin as well as it should. People with diabetes, therefore, may have too much sugar in their blood and thus suffer from a variety of complications, such as glucagon deficiency.
Glucagon is a hormone produced by the pancreas. It raises blood glucose levels by stimulating the liver to release glucose. Glucagon deficiency may occur in people with diabetes when the pancreas fails to produce enough glucagon or when the body fails to respond to glucagon properly.
This results in severe hypoglycemia, which can lead to loss of consciousness and might eventually lead to death. Diabetes prevalence is expected to grow in the coming years.
This is due to an array of reasons, such as the growing obesity and inactivity rates. As such, up to an additional 160 million people worldwide will have diabetes by 2045. This is likely to propel the demand for glucagon in the coming future, thus driving the Glucagon Market to rise.
Advancements in Glucagon Delivery Devices Enhance Patient Convenience
During the last several years, there have been a lot of advances in the development of glucagon delivery devices. It means that it now has become much easier and more convenient for patients to actually use glucagon. It is likely to drive the growth of the Glucagon Market in a few years.
Previously, glucagon delivery devices were bulky and hard to use. In an emergency situation, such as severe hypoglycemia, it was very challenging to apply for patients.
However, currently, newer glucagon delivery devices have a friendlier and easier design, so they no longer have to be intimidating. For instance, in 2019, Eli Lilly and Company introduced the first-ever pre-filled glucagon pen.
It is supposed to be much easier to use and much less intimidating than traditional glucagon injection kits. In the following years, there are supposed to be even more advances in the development of glucagon-delivery devices.
It means that it would become even easier and more convenient for patients to actually use glucagon and drive the growth of the global glucagon market.
Glucagon Market Segment Insights:
Glucagon Market Indication Insights
The Glucagon Market is segmented by Indication into Hypoglycemia, Diabetic Ketoacidosis, and Other Indications. The Hypoglycemia segment held the largest market share in 2023 and is projected to continue to dominate the market throughout the forecast period.
The growth of this segment can be attributed to the increasing prevalence of diabetes and the rising demand for effective treatments for hypoglycemia. The Diabetic Ketoacidosis segment is also expected to witness significant growth over the forecast period, owing to the increasing incidence of diabetes and the growing awareness about the importance of early treatment for DKA.
The Other Indications segment includes conditions such as hyperkalemia and glycogen storage diseases, and is expected to grow at a steady pace during the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Glucagon Market Route of Administration Insights
The Glucagon Market segmentation by Route of Administration comprises Intravenous, Subcutaneous, and Intramuscular. Intravenous administration dominated the market with a revenue share of over 70% in 2023 and this trend is projected to continue throughout the forecast period.
This dominance can be attributed to the need for immediate hormone delivery, precision dosing, and faster onset of action compared to other routes of administration. The ease of administration and reduced risk of infection associated with IV administration further contribute to its widespread adoption.
Subcutaneous administration is expected to witness significant growth over the forecast period, driven by the development of sustained-release formulations and wearable devices. Intramuscular administration, while less common, is preferred in emergency situations and for patients who cannot tolerate oral or IV administration.
Glucagon Market Glucagon Origin Insights
The Glucagon Origin segment plays a vital role in the Global Glucagon Market, influencing market growth and dynamics. In 2023, the Human origin segment held a dominant market share, accounting for approximately 58% of the Glucagon Market revenue.
This dominance is attributed to the high efficacy and safety profile of human glucagon products, which are derived from purified human pancreas. Synthetic glucagon, which is produced through chemical synthesis, is expected to experience a significant rise in demand during the forecast period, owing to its cost-effectiveness and reduced risk of contamination compared to animal-derived glucagon.
Animal-derived glucagon, obtained from animal pancreas, is anticipated to witness a gradual decline in market share due to concerns regarding potential immune reactions and disease transmission.
Overall, the Glucagon Origin segment offers valuable insights into the market dynamics, enabling stakeholders to make informed decisions. The growing demand for human and synthetic glucagon products is expected to drive the overall Glucagon Market growth in the coming years.
Glucagon Market Dosage Form Insight
The Glucagon Market is segmented by dosage form into injectable, nasal spray, and other dosage forms. The injectable segment held the largest market share in 2023, and it is expected to continue to dominate the market throughout the forecast period.
The growth of the injectable segment can be attributed to the increasing prevalence of diabetes and the rising demand for injectable therapies. The nasal spray segment is expected to witness significant growth over the forecast period due to its ease of administration and convenience. Other dosage forms, such as oral and transdermal, are also expected to contribute to the growth of the overall market.
Glucagon Market Regional Insights
The regional analysis of the Glucagon Market offers insights into the market's performance across different regions, including North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period.
The region's well-established healthcare infrastructure, high prevalence of diabetes, and increasing adoption of advanced therapies contribute to its substantial market size. Europe follows North America in terms of market share, driven by a large patient population, favorable reimbursement policies, and the presence of leading pharmaceutical companies.
APAC is projected to exhibit the highest growth rate during the forecast period, owing to the rising prevalence of diabetes and increasing healthcare expenditure in emerging economies like China and India.
South America and MEA are expected to contribute modest shares to the global Glucagon Market, with MEA showing potential for growth due to expanding healthcare access and increasing awareness about diabetes management.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Glucagon Market Key Players and Competitive Insights:
Major competitors in the Glucagon Market industry are constantly working on strengthening their positions and increasing their market share. The leading Glucagon Market players are involved in active research and development to offer new innovative products and therapies that will meet the changing needs of patients.
Partnerships, cooperation, and acquisitions are actively taking place in the liquid propane industry as companies are focused on strengthening their positions in crucial markets. The Glucagon Market growth is conditioned by various government and industry-led factors belonging to the market environment that work on its development and influence the market growth and development.
Regarding the dynamics of competition, it is important to note that new players are constantly entering the market, and the existing companies are either acquiring new partners or expanding.
Novo Nordisk is one of the leading companies in the global healthcare sector, occupying a strong position in the Glucagon Market industry.
The company is highly praised for its extensive experience and innovations, which helped Novo Nordisk develop a powerful portfolio of first-class Glucagon products. The product is known for its quality, efficacy, safety, and high ease of use, which are critical factors influencing the company’s leading position on the market.
Ongoing research and development and global outreach have significantly strengthened the company's position in Glucagon Market. Eli Lilly and Company is another important player in the Glucagon Market that has contributed to the product's development and commercialization.
The company’s Glucagon products are of great quality and reliability and are highly suited for use. Eli Lilly and Company actively invests in research and development to expand the product portfolio and meet the emerging needs. Ease of administration and focus on patient care helps the company to hold a strong market position.
Key Companies in the Glucagon Market Include:
Glucagon Industry Developments
The rising prevalence of diabetes, increasing demand for injectable glucagon, and growing adoption of continuous glucose monitoring (CGM) systems are primarily driving market growth.
Key industry developments include the launch of new products, such as Eli Lilly's Baqsimi nasal glucagon, and strategic collaborations between market players to expand their product portfolios. The market is also witnessing increasing investments in research and development of novel glucagon-based therapies, with a focus on non-injectable formulations and combination therapies.
Glucagon Market Segmentation Insights
| Report Attribute/Metric | Details |
| Market Size 2022 | 7.41(USD Billion) |
| Market Size 2023 | 7.91(USD Billion) |
| Market Size 2032 | 14.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 6.72% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Sun Pharmaceutical Industries, Biocon, KemPharm, Zealand Pharma, Baxter International, Sandoz, Teva Pharmaceutical Industries, Dr. Reddy's Laboratories, Mylan, Pfizer, Intarcia Therapeutics, APP Pharmaceuticals, Novo Nordisk, Xeris Pharmaceuticals, Eli Lilly and Company |
| Segments Covered | Indication, Route of Administration, Glucagon Origin, Dosage Form, Regional |
| Key Market Opportunities | Rising incidence of diabetes Technological advancements Growing demand for injectable devices Favorable reimbursement policies Expansion into emerging markets |
| Key Market Dynamics | Increasing demand for diabetes treatment Technological advancements in glucagon delivery devices Rising prevalence of hypoglycemia in diabetic patients Government initiatives for diabetes management Strategic collaborations and partnerships among market players |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Glucagon Market reached USD 7.91 billion in 2023.
The Glucagon Market is anticipated to grow at a CAGR of 6.72% from 2024 to 2032.
The Glucagon Market is expected to reach USD 14.2 billion by 2032.
North America is expected to hold the largest market share in 2032.
The Type 1 Diabetes segment is expected to account for the highest market share in 2032.
Key competitors include Eli Lilly and Company, Novo Nordisk A/S, and Sanofi S.A.
Key growth drivers include the rising prevalence of diabetes, technological advancements, and increasing healthcare expenditure.
Challenges include stringent regulatory requirements and the high cost of therapy.
Technological advancements are leading to the development of novel and more effective glucagon products.
Key trends include the increasing adoption of personalized medicine and the growing emphasis on patient-centric care.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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