According to the latest research by Future Market Insights, the glucagon injectable market is set to experience 5.4% growth during the year 2021-2031. Glucagon is a hormone that mobilizes the glucose in the blood circulation, through the breakdown of glycogen to glucose. Deficiency of this hormone causes a condition called hypoglycaemia.
To treat hypoglycaemia, glycogen injections and tablets are given to the patients. Glycogen injections are used for the treatment of severe hypoglycaemia and diagnostics purposes. In diagnostics, it is used for radiographic examination of the small bowel, duodenum, colon and stomach when diminished intestinal motility would be advantageous. The glucagon injectable market is mainly driven by an increase in the prevalence of type 1 and type 2 diabetes, new product launches and hypoglycaemia unawareness.
What is the Driving Demand for Glucagon Injectable?
Glucagon injections are used to treat severe hypoglycaemia and for diagnostics purposes. The growth of this market is anticipated due to the rise in prevalence of diabetes, unawareness about hypoglycaemia and new product launches by the market players.
According to the International Diabetes Federation report, by 2045, globally there will be 700 million people between 20-79 years who will be suffering from diabetes. On average a person having type 1 diabetes suffers at least 2-3 episodes of hypoglycaemia in a week. This acts as a driver for the glucagon injectable markets. Sometimes people having blood sugar levels below 70 mg/dL and do not experience any symptoms.
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This is called hypoglycaemia unawareness and these people are at a higher risk of any severe hypoglycaemia episode. According to a study conducted by the HAT Brazil study group 20.6% and 10.6% of people with type 1 and type 2 diabetes respectively showed asymptomatic hypoglycaemia. This acts as a driver for the market. The companies are investing in the research and development of glucagon injectable and for their approval. For instance, in December 2020, FDA approved the first generic glucagon injection for the treatment of hypoglycaemia and diagnostics aid.
Impact of COVID on Glucagon Injectable Market
The COVID-19 has impacted the glucagon injectable market. Due to the pandemic, the research and development were mainly carried out in the field of COVID. Due to this shift, the research of glucagon injectables was affected.
Also, with the change in lifestyle and eating habits, the prevalence of diabetes has increased. Therefore, putting people at a higher risk of diabetes and hypoglycaemia. Hence, COVID-19 had both positive and negative impacts on the glucagon injectable market.
Regional Demand Outlook for Glucagon Injectable
The glucagon injectable market is dominated by the North American region. This is due to the presence of the leading market player, the availability of glucagon injectable and the growing geriatric population. According to a UN report, the geriatric population will increase from 9.3 per cent in 2020 to around 16.0 per cent in 2050. Due to the combined effect of impaired pancreatic islet function and increasing insulin resistance with ageing, this population are at a higher risk of developing type 2 diabetes.
These factors drive the market in this region. Also, the expiration of patents of leading drugs is expected to surge the demand of the market. Followed by North America, Europe and Asia is dominating the glucagon injectable market. This is due to the presence of key market players in Europe and the increasing geriatric population.
For instance, as per Eurostat reported data in 2020, more than 20 % of the total population of Europe is above the age of 65. Moreover, awareness about the current treatments by the population plays a crucial role in the surge in demand for the glucagon injectable market during the forecast period.
Who are the Key Manufacturers and Suppliers of Glucagon Injectable?
The manufacturers and suppliers of glucagon injectables are
- Fresenius SE & Co. KGaA
- Xeris Pharmaceuticals Inc
- Novo Nordisk A/S
- ILS.Inc
- Amphastar Pharmaceuticals Inc.
- Lilly USA
- LLC. Zealand Pharma A/S.
- Avalon Pharma Pvt. Ltd
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