Semaglutide Market Report 2024 (Global Edition)

Global Semaglutide Market Report 2024 Market Size Split by Type (Oral , Injection), by Distribution Channel (Hospitals Pharmacies , Retail Pharmacies , Online Pharmacies)

Semaglutide Market Report Description

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Competitive Landscape of the Semaglutide Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Semaglutide Industry News 

In December 2023, a significant trial at North-western Medicine discovered that semaglutide, an antidiabetic medication, demonstrated twice the effectiveness in aiding weight loss compared to existing weight-loss medications. Following these findings, the drug, marketed as Ozempic, Rybelsus, and Wegovy, received FDA approval for chronic weight management. 

(Source: https://news.feinberg.northwestern.edu/2023/12/19/semaglutide-trials-show-improvements-in-cardiovascular-health-quality-of-life/)

In August 2023, Novo Nordisk announced headline results from the SELECT cardiovascular outcomes trial. In this trial, subcutaneous once-weekly semaglutide 2.4 mg was compared with placebo as an adjunct to standard care to prevent major adverse cardiovascular events over five years. The trial included 17,604 adults aged 45 or older who were overweight or obese and had established cardiovascular disease but no prior diabetes history.

(Source: https://www.novonordisk.com/news-and-media/news-and-ir-materials/news-details.html?id=166301)

Top Companies Market Share in Semaglutide Industry: (In no particular order of Rank)

• Eli Lilly
• Boehringer Ingelheim
• Amgen
• Merck & Co.
• Rhythm Pharmaceuticals
• Intarcia Therapeutics
• Zai Lab
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of Semaglutide

Which Region will dominate the Semaglutide Market in 2024? 

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The region boasts a high prevalence of type 2 diabetes and obesity, driving the demand for effective treatment options like semaglutide. Additionally, advanced healthcare infrastructure, favorable reimbursement policies, and a strong pharmaceutical market presence contribute to North America's dominance. Moreover, robust research and development activities and strategic partnerships between pharmaceutical companies and research institutions further propel market growth. Overall, North America's prominent market share underscores its pivotal role in shaping the trajectory of the Semaglutide market.

Which is Expanding at the Fastest CAGR?

Asia Pacific emerges as the fastest-growing market for semaglutide, propelled by the rising prevalence of type 2 diabetes and obesity. Increasing disposable income levels, improving healthcare infrastructure, and expanding access to healthcare services further bolster demand for semaglutide in the region. Moreover, growing awareness about the importance of glycaemic control and weight management among healthcare professionals and patients accelerates adoption. Strategic initiatives by pharmaceutical companies to penetrate emerging markets in the Asia Pacific also contribute to the region's rapid market growth, positioning it as a key driver of semaglutide market expansion.

The current report Scope analyzes Semaglutide Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Semaglutide Market

According to Cognitive Market Research, the global semaglutide market size was estimated at USD 112.5 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 45.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031. In North America, the semaglutide market thrives due to various factors. The region's high prevalence of type 2 diabetes and obesity, coupled with advanced healthcare infrastructure, fosters a conducive environment for semaglutide adoption. Favorable reimbursement policies and a strong pharmaceutical market presence also dominate its market. North America is also a hub for clinical research and development, further propelling innovation in semaglutide therapies. With a growing emphasis on preventative healthcare and lifestyle management, North America remains a key driver of the Semaglutide market, poised for continued growth and advancement in diabetes management solutions.
According to Cognitive Market Research, the US had a major share in the semaglutide market, with a market size of USD 35.51 million in 2024, and is projected to grow at a CAGR of 3.0% during the forecast period. The USA commands a significant share of the semaglutide market due to its high prevalence of type 2 diabetes, advanced healthcare infrastructure, and robust pharmaceutical industry presence. 
The Canadian semaglutide market had a market share of USD 5.40 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. In Canada, the fastest-growing segment for Semaglutide is likely retail pharmacies, driven by increasing demand for convenient access to medications and patient education within local communities.
The Mexico semaglutide market is projected to grow at a CAGR of 3.7% during the forecast period, reaching a market size of USD 4.10 million in 2024.

Europe Semaglutide Market

Cognitive Market Research shows a market value of USD 112.5 million in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 33.75 million. Europe's semaglutide market reflects a dynamic landscape influenced by several factors. With a substantial burden of type 2 diabetes and obesity, coupled with a robust healthcare infrastructure, the region presents a fertile ground for semaglutide adoption. Additionally, stringent regulatory standards ensure the safety and efficacy of semaglutide therapies, instilling confidence among healthcare professionals and patients. Europe's diverse population and varying healthcare systems contribute to nuanced market dynamics across different countries. Furthermore, ongoing research and development efforts and strategic collaborations between pharmaceutical companies and research institutions drive innovation and market growth. Overall, Europe remains a key player in shaping the semaglutide market landscape.
The United Kingdom semaglutide market had a market share of USD 5.67 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. The United Kingdom commands a significant share of the semaglutide market due to its well-established healthcare system, high prevalence of diabetes, and strong emphasis on evidence-based medicine and clinical guidelines. 
The French semaglutide market is projected to grow at a CAGR of 2.7% during the forecast period, with a market size of USD 3.11 million in 2024.
According to Cognitive Market Research, the German semaglutide market size was valued at USD 6.68 million in 2024 and is projected to grow at a CAGR of 3.7% during the forecast period. In Germany, the fastest-growing segment for Semaglutide is likely retail pharmacies, spurred by increasing demand for convenient access to medications. 
The Italy semaglutide market is projected to grow at a CAGR of 2.9% during the forecast period, reaching a market size of USD 2.90 million in 2024.
The Russian semaglutide market is projected to grow at a CAGR of 2.5% during the forecast period, reaching a market size of USD 5.23 million in 2024.
The Spanish semaglutide market is projected to grow at a CAGR of 2.6% during the forecast period, reaching a market size of USD 2.77 million in 2024.
The Luxembourg semaglutide market is projected to grow at a CAGR of 3.6% during the forecast period, reaching a market size of USD 1.05 million in 2024.
The Portugal semaglutide market is projected to grow at a CAGR of 3.3% during the forecast period, reaching a market size of USD 0.71 million in 2024.
The Greece semaglutide market is projected to grow at a CAGR of 3.8% during the forecast period, reaching a market size of USD 0.41 million in 2024.
The rest of Europe's semaglutide market is projected to grow at a CAGR of 2.2% during the forecast period, with a market size of USD 5.23 million in 2024.

Asia Pacific Semaglutide Market

According to Cognitive Market Research, the global semaglutide market size was estimated at USD 112.5 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 25.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031. The Asia Pacific semaglutide market presents a dynamic landscape driven by several key factors. Rapid urbanization, changing lifestyles, and a burgeoning middle-class population contribute to a rising prevalence of type 2 diabetes and obesity in the region. Additionally, increasing healthcare expenditure, improving infrastructure, and expanding access to healthcare services fuel market growth. Moreover, growing awareness about the importance of glycaemic control and weight management further propels the adoption of semaglutide therapies across diverse markets within the Asia Pacific region.
According to Cognitive Market Research, the China semaglutide market size was valued at USD 11.64 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. China commands a significant share of the Semaglutide market due to its large population, increasing prevalence of diabetes, and growing healthcare infrastructure, supported by government initiatives to improve healthcare access.
The Japan semaglutide market is projected to grow at a CAGR of 5.5% during the forecast period, reaching a market size of USD 3.57 million in 2024.
The India semaglutide market had a market share of USD 3.11 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. In India, the fastest-growing segment for Semaglutide is likely to be retail pharmacies, driven by increasing demand for convenient medication access.
The South Korean semaglutide market is projected to grow at a CAGR of 6.1% during the forecast period, reaching a market size of USD 2.59 million in 2024.
The Australian semaglutide market is projected to grow at a CAGR of 6.7% during the forecast period, reaching a market size of USD 1.35 million in 2024.
The Southeast Asian semaglutide market is projected to grow at a CAGR of 8.0% during the forecast period, reaching a market size of USD 1.79 million in 2024.
The Rest of the Asia Pacific semaglutide market is projected to grow at a CAGR of 6.8% during the forecast period, with a market size of USD 1.84 million in 2024.

South America Semaglutide Market

According to Cognitive Market Research, the global semaglutide market size was estimated at USD 112.5 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 5.63 million in 2024. It will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. Latin America's semaglutide market reflects a growing demand for effective diabetes management solutions amid rising rates of type 2 diabetes and obesity. Factors such as increasing healthcare expenditure, expanding access to healthcare services, and improving awareness about the importance of glycaemic control contribute to market growth. Strategic collaborations between pharmaceutical companies and local healthcare providers also facilitate product penetration and market expansion. Despite regulatory complexities and economic fluctuations, Latin America presents promising opportunities for semaglutide market development.
According to Cognitive Market Research, the Brazil semaglutide market size was valued at USD 2.41 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Brazil commands a significant share of the semaglutide market due to its large population, high prevalence of diabetes, and robust healthcare infrastructure, supported by government efforts to improve healthcare access.
The Argentina semaglutide market had a market share of USD 0.95 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. In Argentina, the fastest-growing segment for semaglutide is likely to be hospitals, driven by the increasing adoption of advanced diabetes management strategies.
The Colombia semaglutide market is projected to grow at a CAGR of 4.2% during the forecast period, reaching a market size of USD 0.50 million in 2024.
The Peru semaglutide market is projected to grow at a CAGR of 4.6% during the forecast period, with a market size of USD 0.46 million in 2024.
The Chile semaglutide market is projected to grow at a CAGR of 4.7% during the forecast period, reaching a market size of USD 0.41 million in 2024.
The Rest of the Latin America semaglutide market is projected to grow at a CAGR of 3.5% during the forecast period, with a market size of USD 0.91 million in 2024.

Middle East and Africa Semaglutide Market

According to Cognitive Market Research, the global semaglutide market size was estimated at USD 112.5 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 2.25 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031. The Middle East and Africa (MEA) semaglutide market is characterized by a growing demand for effective diabetes management solutions. Factors such as increasing urbanization, changing lifestyles, and a rising prevalence of type 2 diabetes drive market growth in the region. Additionally, improving healthcare infrastructure, expanding access to healthcare services, and growing awareness about the importance of glycaemic control contribute to market expansion. Despite economic disparities and healthcare access barriers, MEA presents promising opportunities for semaglutide market development.
According to Cognitive Market Research, the GCC Countries' semaglutide market size was valued at USD 0.96 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. The Gulf Cooperation Council (GCC) countries command a significant share of the semaglutide market due to their affluent population, high prevalence of diabetes, and well-established healthcare infrastructure.
The Egypt semaglutide market is projected to grow at a CAGR of 5.0% during the forecast period, reaching a market size of USD 0.24 million in 2024.
The South African semaglutide market is projected to grow at a CAGR of 5.7% during the forecast period, reaching a market size of USD 0.36 million in 2024. In South Africa, the fastest-growing segment for semaglutide is likely to be retail pharmacies, driven by increasing demand for convenient access to medications.
The Turkey semaglutide market is projected to grow at a CAGR of 4.2% during the forecast period, reaching a market size of USD 0.19 million in 2024.
The Nigeria semaglutide market is projected to grow at a CAGR of 3.8% during the forecast period, with a market size of USD 0.24 million in 2024.
The Rest of the MEA semaglutide market is projected to grow at a CAGR of 3.7% during the forecast period, with a market size of USD 0.27 million in 2024.

Semaglutide Market Analysis

Route of Administration Segment Analysis

According to Cognitive Market Research, oral formulations of semaglutide dominate a significant market share due to their convenience and patient preference. This mode of administration eliminates the need for injections, addressing a key barrier to treatment adherence. Moreover, oral semaglutide maintains efficacy comparable to that of injectable forms, making it an attractive option for healthcare providers and patients. The availability of oral formulations expands access to Semaglutide therapy, driving its widespread adoption and solidifying its position as a major player in the market.

The injection segment of semaglutide is experiencing rapid growth, driven by its established efficacy and expanding indications. Injectable formulations offer precise dosing and consistent delivery, ensuring optimal therapeutic outcomes for patients with type 2 diabetes and obesity. Additionally, ongoing research and development efforts focusing on novel delivery systems and formulations enhance the appeal of injectable semaglutide. With increasing recognition of its benefits among healthcare professionals and patients, the injection segment emerges as the fastest-growing segment within the semaglutide market.

• Oral 
• Injection

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Semaglutide Industry. Request a Free Sample PDF!

Semaglutide Distribution Channel Type Segment Analysis

According to Cognitive Market Research, hospital pharmacies hold a significant share of the semaglutide market due to their central role in healthcare delivery and medication distribution. Hospitals provide various healthcare services, including inpatient care and outpatient consultations, where semaglutide prescriptions can be initiated and managed. Pharmacies, both retail and institutional, facilitate the dispensing of semaglutide prescriptions to patients. Their widespread presence and accessibility ensure broad market penetration for semaglutide, solidifying hospital pharmacies as major distribution channels for this medication.

Retail pharmacies emerge as the fastest-growing segment in the distribution of semaglutide, driven by increasing consumer demand and accessibility. With the rising prevalence of type 2 diabetes and obesity, coupled with growing awareness about semaglutide’s efficacy, retail pharmacies play a pivotal role in providing convenient access to this medication. Their widespread presence in local communities, extended operating hours, and ability to offer patient education and support contribute to the segment's rapid growth. Retail pharmacies cater to the evolving needs of patients seeking convenient access to Semaglutide, fueling their prominence in the market.

• Hospitals Pharmacies 
• Retail Pharmacies 
• Online Pharmacies

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Manjiri Kanhere

Senior Research Associate at Cognitive Market Research

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Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.

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