It appears to have both local and systemic effects depending on route of administration subcutaneous injection, oral supplementation (though oral bioavailability is debated), and local injection into injured tissue have all been studied in animal models
References Mortensen, S
For healthy athletes with mild dehydration and intact GI function, the evidence for IV versus oral rehydration is less clear some studies show comparable outcomes when oral rehydration is executed correctly
doi:10.1200/OP.21.00343 94
For oral semaglutide (Rybelsus), specific timing requirements applyit must be taken first thing in the morning on an empty stomach with no more than 4 ounces of plain water, at least 30 minutes before food, beverages, or other oral medications
Boulet C, Gaynor TL, Carvalho TG