The glucagon market in Europe is expected to be worth USD 225.3 million by 2027 from USD 165.4 million in 2022, growing at a CAGR of 6.38% from 2022 to 2027.
The increasing number of patients suffering from CVDs across the European region is majorly driving the growth of the European glucagon market. According to the statistics published by the European Society of Cardiology, an estimated 49 million people lived with CVDs in Europe in 2019. CVDs are mainly caused due to the factors such as changing the lifestyle, lack of physical activity, and increasing consumption of alcohol and smoking. Likewise, the growing incidence of CVDs is expected to result in the growing usage of glucagon as it can help eradicate unusual heart rates and increase the blood flow to the heart, preventing the risk of heart disease.
In addition, the growing number of hypoglycemia cases in diabetic people across Europe propels the European glucagon market. In Europe, Germany has the highest population suffering from diabetes. According to World Health Organization (WHO), an estimated 60 million people in Europe are suffering from diabetes. Glucagon hormone is used to treat people who have low sugar levels. The hormone helps the liver release the stored glucose in the bloodstream and normalize the sugar levels in the body/. Due to this, the usage of glucagon is increasing in the European region.
Furthermore, the growing development of various non-injected glucagon is another major factor fuelling the European glucagon market growth. The growing R&D activities and favorable reimbursement policies are further expected to aid the market growth in Europe. The European manufacturers of glucagon are focusing on developing nasal-based sprays for glucagon intake, which normalizes sugar levels and advanced treatment based on glucagon that can help treat several health conditions.
However, poor awareness of hypoglycemia among the European population is hampering the European market growth. In addition, factors such as extended time for the manufacturing of new glucagon drugs, lack of infrastructure facilities, low availability of glucagon in some European countries, and lack of investments by the European governments in favor of glucagon are anticipated to limit the market's growth rate in Europe. Furthermore, side effects associated with glucagon, such as vomiting, and nausea, further impede the market growth.
This research report on the Europe glucagon market has been segmented and sub-segmented into the following categories.
By Product Type:
By Application:
By Country:
The European region captured the second-largest share of the global market in 2021. During the forecast period, the European glucagon market is anticipated to showcase a promising CAGR owing to an increasing focus on quality healthcare among the European population and an increasing number of product approvals. In 2022, the European Commission approved Mounjaro, a glucagon peptide used to treat adults with uncontrolled type 2 diabetes. In addition, an increasing number of clinical trials for the development of glucagon drugs also helps with the market demand in this region.
The UK accounted for the major share of the European market in 2021. The UK is expected to dominate the European market during the forecast period. The growing manufacturing activities of injection-based medicine with the glucagon hormone, which is used to balance the sugar levels in the body, is one of the major factors promoting the UK glucagon market. In 2021, the government of the UK approved an injection called Xeris Ogluo to treat severe hypoglycemia, which is the first prefilled syringe and comes in different dosages administered to patients with a doctor's prescription. In addition, owing to the substantial number of glucagon manufacturers in the UK, the UK has been exporting glucagon drugs to other countries such as India.
Germany is another potential market for glucagon in the European region and is anticipated to showcase a notable CAGR during the forecast period. The availability of glucagon drugs through online sites in Germany is the main reason for the market growth. In addition, increasing awareness programs regarding the availability of various glucagon products by healthcare organizations and the presence of key market players in Germany are anticipated to boost market growth.
KEY MARKET PLAYERS:
Pzier Inc, Fresenius SE & Co. KGaA, Eli Lilly & Co., Xeris Pharmaceuticals Ltd., Taj Pharmaceuticals, Amgen Inc, Avalon Pharma Private Limited, Bachem Holding AG, Fujifilm Holdings, Svar Life Science AB and Novo Nordisk A/S are some of the notable companies in the European glucagon market.
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