Market Size of Ozempic Industry
| Study Period | 2018-2029 |
| Market Size (2024) | USD 10.99 Billion |
| Market Size (2029) | USD 16.5 Billion |
| CAGR (2024 - 2029) | 8.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Ozempic Market Analysis
The Ozempic Market size is estimated at USD 10.99 billion in 2024, and is expected to reach USD 16.5 billion by 2029, growing at a CAGR of greater than 8% during the forecast period (2024-2029).
During COVID-19, many governmental restrictions were imposed, putting people into lockdown, which led to a rise in obesogenic-prone behaviors. Further, the closure of fitness centers, stay-at-home policies, and increased unhealthy snacking were associated with sustained weight gain and persisted even after lockdown restrictions were lifted. Weight management guidelines recommended a multi-component approach for weight loss in patients living with obesity and overweight. The use of anti-obesity medications was a reliable and effective option for weight control to improve the quality of life and prevent the progression of weight-related comorbidities.
The Food and Drug Administration approved various anti-obesity medications for long-term use for individuals with BMI ≥30 kg/m2 or ≥ 27 kg/m2 with weight-related comorbidities, including Phentermine-topiramate, liraglutide, orlistat, naltrexone-bupropion, and semaglutide. Obesity is a major risk factor for several diseases, including diabetes, heart disease, and some cancers. In obese individuals, the fat cells in the body release pro-inflammatory chemicals, which may make the body less sensitive to the insulin it produces by disrupting the function of insulin-responsive cells. Furthermore, high blood sugar levels during the pandemic were significantly related to both morbidity and mortality. Thus, anti-obesity medications played a vital role in minimizing the risk of high blood glucose sugar levels during the pandemic.
Ozempic (semaglutide) injection is an injectable prescription medicine available in various strengths used along with diet and exercise to improve blood sugar in adults with type 2 diabetes to reduce the risk of major cardiovascular events such as heart attack or stroke in adults with type 2 diabetes with known heart disease. It belongs to a class of drugs called glucagon-like peptide-1 receptor agonists. It is a brand name and is currently not available in generic form. Ozempic comes as a liquid solution inside prefilled, disposable pens.
Major factors that are expected to boost the growth of the studied market in the forecast period are rising obesity and inactivity rates among people, which have resulted in an increase in the diabetes population over time, a rise in the sedentary lifestyle, improper dietary patterns, and the inherent history of diabetes disorders. In addition, rising investment in research and development, technological developments, and new product launches will further provide potential opportunities for the growth of glucagon-like peptide 1 (GLP-1) agonists such as ozempic in the coming years.
Ozempic Industry Segmentation
Ozempic is a weekly injection that helps lower blood sugar by helping the pancreas make more insulin. The Ozempic market is segmented by Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America).
The report offers the value (in USD) and volume (in units) for the above segments.
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Ozempic Market Size Summary
The Ozempic market is poised for significant growth over the forecast period, driven by increasing obesity rates and the rising prevalence of Type 2 diabetes and heart diseases. The pandemic has exacerbated these issues, with lifestyle changes leading to weight gain and heightened demand for anti-obesity medications. Ozempic, a glucagon-like peptide-1 receptor agonist, is used to improve blood sugar control in adults with Type 2 diabetes and reduce the risk of cardiovascular events. Despite its primary approval for diabetes management, it is frequently used off-label for weight loss, reflecting its dual utility in addressing obesity-related health concerns. The market's expansion is further supported by advancements in research and development, technological innovations, and new product launches, which are expected to enhance the therapeutic landscape for obesity and diabetes management.
The North American region currently holds the largest market share, influenced by the high prevalence of diabetes and obesity, compounded by lifestyle factors such as sedentary behavior and poor dietary choices. The market is characterized by a lack of generic alternatives, with Novo Nordisk A/S being a key player. Legislative efforts, such as the bipartisan Treat and Reduce Obesity Act, aim to expand Medicare coverage for anti-obesity medications, potentially increasing access and driving market growth. However, supply challenges, such as those reported in Europe, highlight the need for strategic management of demand and distribution. Overall, the Ozempic market is expected to experience robust growth, fueled by the increasing burden of obesity and diabetes, alongside supportive policy and healthcare initiatives.
Ozempic Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Drivers
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1.3 Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Ozempic
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Rest of North America
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 Spain
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2.2.2.3 Italy
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2.2.2.4 France
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2.2.2.5 United Kingdom
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2.2.2.6 Russia
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2.2.2.7 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 Japan
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2.2.3.2 China
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2.2.3.3 Australia
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2.2.3.4 India
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2.2.3.5 South Korea
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2.2.3.6 Malaysia
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2.2.3.7 Indonesia
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2.2.3.8 Thailand
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2.2.3.9 Philippines
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2.2.3.10 Vietnam
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2.2.3.11 Rest of Asia-Pacific
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2.2.4 Latin America
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2.2.4.1 Brazil
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2.2.4.2 Mexico
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2.2.4.3 Rest of Latin America
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2.2.5 Middle East and Africa
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2.2.5.1 South Africa
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2.2.5.2 Saudi Arabia
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2.2.5.3 Oman
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2.2.5.4 Egypt
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2.2.5.5 Iran
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2.2.5.6 Rest of Middle East and Africa
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Ozempic Market Size FAQs
How big is the Ozempic Market?
The Ozempic Market size is expected to reach USD 10.99 billion in 2024 and grow at a CAGR of greater than 8% to reach USD 16.5 billion by 2029.
What is the current Ozempic Market size?
In 2024, the Ozempic Market size is expected to reach USD 10.99 billion.
