Glucagon Market Size (2024 - 2029)

Glucagon Market Analysis

The Glucagon Market size is estimated at USD 576.13 million in 2024, and is expected to reach USD 772.75 million by 2029, growing at a CAGR of 6.03% during the forecast period (2024-2029).

Glucagon medication is usually administered to a diabetic patient to treat severe hypoglycemia. It is also used in diagnostic testing of the gastrointestinal tract. The increasing prevalence of diabetes globally is one of the significant factors influencing market growth. According to a study published by the Lancet Journal in June 2023, in 2021, 529 million people had diabetes worldwide, and this number is estimated to reach 1.3 billion people in the next 30 years. The increasing diabetic population undergoing insulin therapy is at high risk of experiencing severe hypoglycemic episodes. Moreover, all patients at risk for hypoglycemia are to be prescribed glucagon as per the American Diabetes Association recommendation. The increasing incidence of hypoglycemia among the diabetic population is surging the prescription rate of glucagon, thereby driving market growth.

Furthermore, government authorities in certain countries offer reimbursement benefits for glucagon products to surge their adoption rate and reduce the disease burden, fueling market growth. For instance, as per an article published by Xeris Pharmaceuticals Inc., in August 2023, approximately 78% of commercially insured and Medicare lives had unrestricted access to Gvoke HypoPen, a glucagon injection indicated to treat severe hypoglycemia. These benefits offered to the diabetes community increase the accessibility and affordability of glucagon. Hence, reimbursement initiatives and patient assistance programs offered by public and private organizations for glucagon products are projected to drive market growth over the next five years.

Moreover, the technological advancement introduced by market players in glucagon products to simplify the administration process is gradually shifting the patient preference toward novel glucagon products from traditional glucagon kits. The market players are focusing on introducing ready-to-use glucagon, such as rescue pens and nasal sprays, to increase the adoption rate among the patient population. These rescue pens and nasal spray are easily administered through a single or two-step process, compared to a complex eight-stage process required to prepare and use traditional glucagon kits. For instance, per the September 2022 publication of Arecor Therapeutics, conventional glucagon kits often require multiple steps to prepare and use, offering a treatment success rate of 7.9%. In contrast, a nasal glucagon spray offers a 90.6% success rate, and a rescue pen provides a 99% success rate. Thus, better treatment outcomes and ease offered by technological advancements during drug administration are expected to drive the demand for glucagon, fueling market growth.

However, the need for approved products and more education, training, and awareness regarding glucagon administration is anticipated to restrain market growth.

Glucagon Industry Segmentation

Glucagon is used as emergency medical treatment to treat severe hypoglycemia and as a diagnostic aid in imaging of the gastrointestinal tract. Glucagon is recommended to diabetic patients undergoing insulin therapy. This rescue product is available as autoinjector, pre-filled syringe, emergency kit (pre-filled vial and administration syringe), and nasal spray.

The glucagon market is segmented into route of administration, application, distribution channel, and geography. By route of administration, the market is segmented into injection and inhalation. By application, the market is segmented into hypoglycemia and diagnostic aid. By distribution channel, the market is segmented into online and offline. By geography the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. The report also offers the market size and forecasts for 13 countries across the region. For each segment, the market sizing and forecasts have been done on the basis of value (USD).