Glucagon Market Estimated To Hit The Value UЅD $837 Мn by 2030
Glucagon is a peptide hormone, produced by alpha cells of the pancreas. It works to raise the concentration of glucose and fatty acids in the bloodstream, and is considered to be the primary catabolic hormone of the body.
The Global Glucagon Market was valued at UЅD $487.6 Мn in 2020, and is projected to achieve a valuation of UЅD $837 Мn by 2030, at a САGR of 6.6%. The 5-year (2020–2025) cumulative revenue of this market is projected to be over $652.0 Mn, and is estimated to increase moderately over the latter part of the forecast period.
The increasing incidence of hypoglycemia among individuals suffering from diabetes, as well as the numerous advancements being made in the administration of non-injectable glucagon for emergency purposes are some of the primary factors that are anticipated to continue to fuel the revenue growth of the Global Glucagon Market over the next 10 years. Moreover, the gradual increase in the number of approvals being sanctioned for by various respective governing authorities, as well as the increase in awareness concerning the benefits of glucagon usage are also factors that are slated to compliment opportunities for market growth in the years to come. Additionally, ever-expanding geriatric populations of the world is another major factor that is expected to further augment opportunities for revenue growth, as these individuals are more likely to develop disorders that may require a specific source of treatment, ideally using glucagon in conjunction with other forms of treatment are also factors anticipated to have a profound influence on this market.
However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global glucagon market is no different, and this factor is anticipated to have a negative impact on the revenue growth of this industry. Furthermore, the high cost of glucagon is another factor that may impede on the market growth of this global industry.
Nonetheless, numerous initiatives and increasing investments are being focused by key industry players towards the development of improved forms of treatment, as well as to make diabetes-related expenditures more economical, are some of the other factors that are expected to further augment future market growth for the global glucagon industry.
Segmentation of the Global Glucagon Market is as follows:
In terms of product type, the kits segment accounted for the maximum number of revenue shares of the global glucagon market in 2020, and is expected to index a high CAGR over the forecast period. However, the powder/solution segment is anticipated to index the highest CAGR over the next 10 years.
With regards to application, the emergency use segment accounted for the highest number of revenue shares of the global glucagon market in 2020, and is anticipated to continue doing so over the next decade. The general use segment is also indicative of registering a high CAGR over the forecast period.
Key Players: Novo Nordisk A/S, Eli Lilly & Co., Fresenius SE & Co. KGaA, Torrent Pharmaceuticals Ltd., Xeris Pharmaceuticals, Inc., Svar Life Science AB, Taj Pharmaceuticals Ltd
Regional Segmentation and Analysis:
North America accounted for the maximum number of revenue shares of the global glucagon market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. However, the markets in the Asia pacific region are anticipated to index the highest CAGR over the course of the forecast period.
Browse The Complete Glucagon Market Research Report Here: https://marketresearch.biz/report/glucagon-market/