What is Global Glucagon Market?
The Global Glucagon Market is an expansive and dynamic field that focuses on the production, distribution, and consumption of glucagon, a hormone that raises the level of glucose in the blood. This market is a crucial component of the global healthcare industry, as glucagon is often used in emergency situations to treat severe hypoglycemia (low blood sugar) in people with diabetes. The market is driven by various factors, including the increasing prevalence of diabetes worldwide, advancements in glucagon delivery methods, and the growing awareness about the importance of maintaining proper blood glucose levels. However, the market also faces several challenges, such as the high cost of glucagon and the potential side effects associated with its use. Despite these challenges, the Global Glucagon Market continues to grow and evolve, offering numerous opportunities for manufacturers, healthcare providers, and patients alike.
Inject Glucagon, Nasal Glucagon in the Global Glucagon Market:
The Global Glucagon Market is segmented into two main types: injectable glucagon and nasal glucagon. Injectable glucagon is the traditional form of this hormone and is typically administered via a syringe. It is often used in emergency situations to quickly raise blood sugar levels in people with severe hypoglycemia. On the other hand, nasal glucagon is a newer form of this hormone that is administered through the nose. It is designed to be easier to use than injectable glucagon, especially in stressful situations. Both types of glucagon play a crucial role in the management of diabetes, and their demand is influenced by various factors, including the prevalence of diabetes, the availability of healthcare services, and the level of awareness about diabetes management.
Emergency Kits, General Use, Diagnostic & Motility, Cardiogenic Shock, Others in the Global Glucagon Market:
The Global Glucagon Market finds its usage in various areas such as Emergency Kits, General Use, Diagnostic & Motility, Cardiogenic Shock, among others. In emergency kits, glucagon is often included as a life-saving measure for individuals with diabetes who may experience severe hypoglycemia. For general use, glucagon is used to maintain blood sugar levels in people with diabetes, especially those who are prone to hypoglycemia. In the field of diagnostic and motility, glucagon is used to relax the muscles of the stomach and intestines during certain medical procedures. In cases of cardiogenic shock, glucagon is used to increase heart rate and improve blood flow. Despite the diverse applications of glucagon, its use is primarily driven by the need to manage and treat diabetes, a condition that affects millions of people worldwide.
Global Glucagon Market Outlook:
The Global Glucagon Market is a robust and growing industry. In 2022, the market was valued at US$ 556 million and is projected to reach US$ 845.7 million by 2029, growing at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2029. This growth is driven by various factors, including the increasing prevalence of diabetes, advancements in glucagon delivery methods, and the growing awareness about the importance of maintaining proper blood glucose levels. The market is dominated by four major manufacturers, who collectively hold over 80% of the market share. North America is the largest market for glucagon, accounting for nearly 40% of the global market. This dominance can be attributed to the high prevalence of diabetes in the region, the availability of advanced healthcare facilities, and the high level of awareness about diabetes management.
| Report Metric | Details |
| Report Name | Glucagon Market |
| Accounted market size in 2023 | US$ 592.8 million |
| Forecasted market size in 2029 | US$ 845.7 million |
| CAGR | 6.1 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Segment by Region |
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| By Company | Novo Nordisk, Eli Lilly, Fresenius Kabi, Torrent Labs, Taj Pharmaceuticals, Xeris Pharmaceuticals |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
