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The global glucagon market size was valued at USD 278.5 million in 2022 and is projected to grow from USD 297.8 million in 2023 to USD 470.8 million by 2030, exhibiting a CAGR of 6.8% during the forecast period.
Glucagon is a hormone that is involved in controlling blood sugar levels. People with diabetes develop an inability to release enough glucagon in response to decreasing blood glucose levels. Among the diabetic population, type 1 diabetic patients fail to elicit a normal response, which increases the risk of severe hypoglycemia. Severe hypoglycemia in people with insulin-treated diabetes is common and dangerous. As not all episodes of hypoglycemia can be prevented, all at-risk patients must have access to the hormone to reverse severe hypoglycemia and prevent hospitalization or death. Therefore, guidelines recommend that the drug be prescribed to all patients treated with insulin for type 1 and type 2 diabetes at high risk of hypoglycemia.
The increasing diabetic patient population undergoing insulin therapy is increasing the risk of developing potential severe hypoglycemia episodes, which is surging the prescription rate. Moreover, market players are focusing on introducing products that are easy to administer to increase the penetration of ready-to-use products. These factors are expected to drive market growth during the forecast period.
In order to reduce the economic burden and increase the treatment rate related to hypoglycemia episodes, certain countries offer reimbursement for these products to make them more affordable and accessible. According to a document published by the HAS - Medical and Economic Evaluation and Public Health Division in January 2022, the recommended reimbursement rate for BAQSIMI (intranasal glucagon) is 65% in France. Such initiatives are likely to drive the demand for these drugs or products across the globe.
New Product Launch Initiatives During COVID-19 Pandemic Minimized the Impact on Market Growth
The outbreak of the COVID-19 pandemic had minimal impact on the global market in 2020. Government authorities imposed lockdown restrictions, which led to the closure of healthcare settings. The healthcare resources were shifted toward addressing the immediate demand of the COVID-19 pandemic. However, the introduction of new products in 2020 minimized the impact of the crisis on the global market.
In the post-pandemic scenario, the trend of new product launches continued to meet the growing demand for these medications.
In 2022, the market players entered various strategic alliances to expand their product presence and maintain their position in the market.
Gradual Shift from Vial to Others Forms of the Product
One of the prevailing global glucagon market trends observed is that manufacturers are introducing products in various forms. The traditional form is available in vial form. In contrast, novel products are manufactured in prefilled syringe (PFS) form and nasal sprays. This gradual shift is due to the benefits offered by these forms over the traditional vial form.
One of the novel ways of packaging is in the form of prefilled syringes, which offer diverse advantages in speed, disposal, wastage, and patient safety, owing to premeasured accurate doses that reduce dosing errors and risk of microbial contamination. The other form is nasal formulation, a portable, ready-to-use, single-dose dispenser that needs no reconstitution or priming and can be stored at room temperature. Moreover, it is user-friendly and can be self-administered by the patient in emergencies.
In contrast, an emergency glucagon injection kit consists of a vial with glucagon powder and a syringe with sterile water. The administration of this glucagon is a multi-step process that starts with reconstituting glucagon powder with sterile water present in the syringe. The second step involves gently shaking the vial to mix all the powder until it is completely dissolved.
The advantages of the nasal and prefilled syringes over vial form in terms of ease of administration and turnaround time influence the product preference among the patient population and healthcare providers.
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Growing Prevalence of Diabetic Population is Likely to Drive Market Growth
One of the critical factors contributing to the market expansion is the growing prevalence of diabetes globally. This increasing prevalence of insulin-dependent diabetic patient population is considered clinically appropriate for these products. People with type 1 diabetes who take insulin to manage their blood glucose levels are at risk of getting hypoglycemia. Similarly, people with type 2 diabetes who are insulin-dependent or certain other medications are also likely to develop hypoglycemia, although the chances are low. However, the frequency of hypoglycemia increases over time among people with type 2 diabetes as the body eventually stops making enough insulin.
Reimbursement Offered on the Product to Drive Market Growth
The growing diabetic population is increasing the risk of severe hypoglycemia, and the rising awareness related to its treatment measures is increasing the penetration rate of these products. In order to increase the treatment rate related to hypoglycemia episodes, certain countries offer reimbursement for these products or drugs to make them more affordable and accessible.
Such initiatives reduce the economic burden of diabetic patients and increase the affordability and accessibility of these products. The reimbursement offered on various formulations is expected to drive the adoption rate of these products, subsequently leading to market growth during the forecast period.
Lack of Approved and User-Friendly Products May Limit Market Growth
Despite the increase in the prevalence of hypoglycemia episodes among the diabetic population and reimbursement benefits offered by various government bodies, certain factors are likely to restrict market growth. One of the critical factors includes the lack of products approved for the treatment of severe hypoglycemia. The lack of approved products limits the treatment options for patients on insulin therapy who are at high risk of experiencing hypoglycemia episodes. Moreover, the traditional kits available in the form of injectables can only be administered with the help of healthcare professionals, which increases the mean cost of severe hypoglycemia events.
To improve outcomes for people with diabetes and avoid hypoglycemia events to reduce costly medical services, such as emergency medical services, nasal glucagon was developed to address this unmet need. The nasal solutions contain powder in a ready-to-use, single-use, one-step dispensing device, making it user-friendly. However, the limited product offerings for the nasal route limit the treatment options for patients with needle phobia and restrict the potential growth opportunity for these products. These factors may hinder the market growth during the forecast period.
Inhalation Segment Held Dominating Share in the Market Due to the Ease of Administration
Based on product, the market is segmented into injectables and inhalation.
The inhalation segment dominated the market in 2022. The ease of administration of this medication via the nasal route without causing any harm or compression on specific parts of the patient’s body is augmenting the demand for these products in the market. Moreover, no obligation to make any preparation contributes to its growing adoption among the patient population. This growing adoption has influenced market players to invest in developing new inhalation products.
The injectable segment generated notable revenue in 2022. The segment’s growth is attributed to the established products administered via the injectable route. Traditional emergency kits fall under injectable categories, and the familiarization of patients and caregivers with them favors segment growth. Moreover, market players are focusing on introducing new liquid-stable formulations delivered via autoinjectors such as Gvoke HypoPen, and Gvoke PFS, a prefilled syringe containing the same liquid glucagon formulation are broadening the treatment options for patients and caregivers. Cumulatively, all these factors are contributing to the segment growth.
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Hypoglycemia Segment Accounted for Dominant Market Share Due to the Availability of Wide Treatment Options
By application, the global market is subdivided into hypoglycemia and diagnostic aid.
The hypoglycemia segment dominated the global glucagon market share in 2022. The rising prevalence of the diabetic population and their risk of experiencing severe hypoglycemia episodes is surging the demand for these products. According to a study published by BMC Endocrine Disorders in October 2023, of participants who were treated with insulin, 33% had at least one hypoglycaemic episode during the five days among 56 enrolled individuals. Moreover, there are several products approved for the treatment of severe hypoglycemia that offer wide treatment options to this patient population, subsequently driving the segment growth.
The diagnostic aid segment registered a comparatively lower share and is poised to expand at a lower CAGR during the analysis period. The lack of products approved for this indication is a major factor contributing to the slower growth of this segment.
Higher Therapeutic Procurement through Drug Stores & Retail Pharmacies Led to Segment’s Dominance in 2022
By distribution channel, the market is segregated into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies.
The drug stores & retail pharmacies segment held a dominating share of the global market in 2022 by generating the highest revenue. The distribution of these products through these settings is higher than others. According to the 2021 annual report of Xeris Biopharma Holdings, Inc., approximately 1.2 million units of glucagon are sold annually in the retail settings of the European Economic Area, the U.K., and Switzerland. The higher procurement rate of these products through this setting is driving manufacturers' focus to initiate strategic alliances to expand their distribution network and brand presence, primarily contributing to the segmental expansion.
The hospital pharmacies segment captured notable revenue in 2022. There is a lack of awareness about hypoglycemia conditions among the diabetic population in emerging countries. In addition, there is also a reluctance among the patient population to adhere to the treatment regime. This delays the treatment outcome and advances the severity of this condition. This surges the hospital admission rates to seek timely treatment, subsequently propelling the segmental expansion.
The online pharmacies segment is estimated to grow at the highest CAGR during the forecast period. The growing preferential shift of patients toward buying medicines through online platforms due to improved accessibility and quality of services by online service providers contributes to the segment growth.
In terms of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America Glucagon Market Size, 2022 (USD Million)
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North America market size stood at USD 239.2 million in 2022 and is likely to dominate the market over the study period. The manufacturers of this region operating in this market are focusing on strengthening their distribution network and emphasizing getting regulatory approvals. Moreover, growing awareness related to severe hypoglycemia episodes among insulin-dependent patients is increasing the prescription rate of these products. According to the 2021 annual report of Xeris Pharma Holdings Inc., approximately 693,000 prescriptions were written in 2021, an increase of 7% compared to 2020 across the U.S. for emergency glucagon.
Asia Pacific is anticipated to expand with the highest CAGR over the analysis period. The expansion is primarily credited to the cost benefits provided by the generic drugs, which are spurring their demand among the patient population. In addition to this, the limited availability of approved drugs in this region offers growth potential to the manufacturers to penetrate the Asia Pacific region as the prevalence of diabetic population is higher in this region. According to the Indian Council of Medical Research-India Diabetes (ICMR-INDIAB) study published in June 2023, India has 101 million people with diabetes, which is 36% more than a 2021 estimate of 74.2 million people made by the International Diabetes Federation. This offers a potential growth opportunity for the manufacturers to expand and explore this market in this region.
Europe generated the second-highest revenue in 2022. European countries offer reimbursement on these products to reduce the economic burden of diabetic patients and increase affordability and accessibility toward severe hypoglycemia treatment. In addition to this, the market players are focusing on introducing novel drugs to meet the growing patient population's needs, which is anticipated to drive the global glucagon market growth during the forecast period. In May 2023, Tetris Pharma Ltd, a subsidiary of biopharmaceutical company Arecor Therapeutics plc, launched Ogluo (glucagon prefilled autoinjector pen) in Denmark and Norway as a treatment for severe hypoglycaemia in adults, adolescents, and children aged two years and above living with diabetes mellitus. Such launches are anticipated to increase the patient population's accessibility to these products, which is likely to bolster the market growth across this region.
The Latin America and the Middle East & Africa markets are expected to expand at a slower rate over the study period. The lack of manufacturers and availability of this product are responsible for the slow growth of these regions. However, the growing focus of non-profit and charitable organizations on raising awareness of diabetes and educating people about the risk of experiencing hypoglycemia episodes may serve as a lucrative growth opportunity for the market. According to an article published by the Revista Latino-Americana de enfermagem in 2023, the prevalence of diabetes in Brazil is rising, and it varies in different Brazilian regions. The prevalence is rising at a rate of 6.8% in the North, 8.7% in the Northeast, 10.5% in the Southeast, 8.5% in the South, and 10.3% in the country's Midwest.
Novo Nordisk A/S and Xeris Biopharma Holdings, Inc. Leads the Market in 2022 Owing to Strong Strategic Initiatives
In the competitive scenario, the global market is driven by Novo Nordisk A/S and Xeris Biopharma Holdings, Inc., which offers a strong portfolio in this market. These companies are focused on expanding their presence by making strategic alliances. Novo Nordisk A/S is focused on expanding its portfolio by initiating a license and development agreement with Zealand Pharma A/S to commercialize ZEGALOGUE (dasiglucagon) injection approved by the U.S. Food and Drug Administration (FDA) for the treatment of severe hypoglycemia in pediatric and adult patients with diabetes aged six and above. Similarly, Xeris Biopharma Holdings, Inc., is focused on expanding its product presence by making strategic collaborations to enter the European market and increase its market share in the global market.
Lilly used to dominate the market before it decided to discontinue its Glucagon Emergency Kit from all markets due to the decreased demand in August 2022 and further divested its BAQSIMI product to Amphastar Pharmaceuticals, Inc., in April 2023. These strategic initiatives made by Lilly are anticipated to help Amphastar Pharmaceuticals, Inc. in strengthening its market position.
An Infographic Representation of Glucagon Market
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The global market analysis report provides qualitative and quantitative insights on the global market and a detailed analysis of the global market size and growth rate for all possible segments in the market. The report also provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are the prevalence of hypoglycemia by key countries/regions, 2022, pipeline analysis, key industry developments by major players, and the impact of COVID-19 on the global market.
CAGR of 6.8% from 2023 to 2030
Value (USD Million), Volume (1,000 Units)
By Route of Administration
By Distribution Channel
Fortune Business Insights says that the global market size was USD 278.5 million in 2022 and is projected to reach USD 470.8 million by 2030.
In 2022, the North America market stood at USD 239.2 million.
The market will grow at a CAGR of 6.8% over the forecast period (2023-2030).
The inhalation segment is expected to be the leading segment in this market during the forecast period.
The rising prevalence of the diabetic population and the emphasis of market players on introducing novel drugs are some of the major factors driving the global market.
Novo Nordisk A/S and Xeris Pharma Holdings, Inc. are the major global market players.
The North America region is set to dominate the global market.
Increasing awareness related to hypoglycemia and rising prescription rates are expected to drive product adoption.
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