Pune, India, March 08, 2021 (Wiredrelease) Prudour Pvt. Ltd -: Global Glucagon Market: Products, Materials, Applications, Growth Rates, Stocks, and Forecast: 2020-2029 is the title of one of the recent reports by the research team at Market.US. The global glucagon market is expected to reach a value of around 0.8 billion US dollars in 2029, after a value of around 0.4 billion US dollars in 2019. The global market is expected to experience a steady growth rate of 6.2% record. The market was segmented by product, type, application and region.
The increasing prevalence of hypoglycemia in diabetics, linked by key players to an increasing number of advances in non-injectable glucagon, are some of the main drivers likely to drive global market growth. The FDA’s growing support for the first nasal glucagon powder is a factor driving growth in the global glucagon market. For example, in July 2019, the FDA announced that it had approved the first non-injectable emergency glucagon. Nasal glucagon powder sold by Eli Lilly and Company under the brand name Baqsimi. Treatment is approved for people with diabetes aged four and over. The US list price for a BAQSIMI one-pack is $ 280.80 and for a two-pack is $ 561.60.
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Intravenous or powdered glucagon is given to the individual to help restore sugar levels in the body and prevent further hypoglycemia. It is a factor that is driving the growth of the global Glucagon Market. In addition, the globally growing geriatric population is another factor behind the growth of the target market over the forecast period. According to the World Population Prospects 2017 report published by the United Nations, the number of people aged 80 and over is projected to triple from 137 million in 2017 to 425 million in 2050. In addition, that number is expected to grow to 909 million by 2100, which is roughly seven times that of 2017.
The USFDA’s strong support for the research and development of new drugs and therapies, and for the treatment of symptoms of hypoglycemia, is a key factor in providing revenue growth opportunities for manufacturers operating in the global marketplace. Additionally, an approach to tracking the untapped market by well-known manufacturers is another factor that creates potential opportunities for market growth. Increasing investments and initiatives by various health organizations and agencies to improve health services related to diabetes are a factor that should provide growth opportunities for market participants in the years to come. By delivering glucagon in a more consistent manner, several opportunities can be created to improve care for patients at risk through the implementation of quality metrics. The Glucagon mobile app leverages Android mobile technology to help people reach more caregivers and is another way to support type 1 diabetes patients.
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A new trend observed in the global glucagon market is the availability of mini-dose glucagon or rescue glucagon kits. A new automated drug delivery system is a trend observed in the marketplace. For example, according to a study in New Orleans on March 25, 2019, a new automated drug delivery system is helping prevent severe hypoglycemia in patients who have had bariatric surgery. However, the high price of glucagon is a major factor in the growth of the target market over the forecast period.
The new delivery option for administering glucagon during hypoglycemic events can greatly simplify the process for diabetics, especially children, and their caregivers. The global Glucagon Market has been segmented on the basis of type, application, and region. Among the type segments, the Injection Glucagon segment is expected to account for the highest revenue share, and it is projected to have the fastest growth rate in the future. This is due to the presence of almost all products, which are types of injection. Due to the increasing prevalence of diabetes in the population, the general use segment holds a large proportion of sales, depending on the application. Based on the region, it is estimated that the North American market has the highest share of sales and is expected to dominate the glucagon market in the future, followed by Europe. This is due to the increasing prevalence of hypoglycemia in diabetic patients, changing lifestyle habits, and increasing demand for glucagon, especially among diabetics and the aging population.
The global Glucagon Market report includes profiles of companies such as Eli Lilly Co., Novo Nordisk A / S, Torrent Pharmaceuticals Ltd., Fresenius SE Co. KGaA, Svar Life Science AB, Xeris Pharmaceuticals, Inc., and Taj Pharmaceuticals Ltd.
