The Anti-Obesity Drug Market is estimated to be valued at US$ 2,542.0 Mn or Mn in 2023 and is expected to exhibit a CAGR of 16. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Anti-obesity drugs help in reducing and controlling weight by suppressing appetite, reducing fat absorption or increasing fullness feelings. Some common anti-obesity drugs available in the market include Orlistat, Lorcaserin, Phentermine & Topiramate and Liraglutide. These drugs are prescribed either as a single drug therapy or in combination with low-calorie diet and physical activity to treat obesity and related comorbid conditions like diabetes, hypertension etc.
Market Dynamics:
The rising prevalence of obesity globally represents a key factor driving the growth of the Global Anti-Obesity Drug Market. An estimated 38.2% of adults were overweight and 13% were obese worldwide in 2016 according to the WHO. Moreover, increasing awareness about health implications of obesity and availability of newer treatment options are expected to boost the demand for anti-obesity drugs over the forecast period. However, stringent regulatory approvals and side effects associated with the drugs may hamper the market growth. Additionally, adoption of alternative treatment options like bariatric surgeries in some countries poses a challenge for anti-obesity drugs market.
Segment Analysis
The global anti-obesity drug market is dominated by the appetite suppressant segment, accounting for nearly 35% of the market share. This segment is dominating as appetite suppressants help reduce hunger pangs and food cravings, effectively leading to weight loss. Drugs in this segment such as Phentermine and Orlistat work by inhibiting fat absorption or suppressing appetite.
PEST Analysis
Political: Governments across countries are formulating various policies and programs to raise awareness about obesity prevention. For instance, initiatives such as ‘Let's Move!’ in the US focus on Physical activity, Nutrition and healthy eating habits,which is driving the market growth.
Economic: Rising per capita income and spending on healthcare has increased demand for effective weight loss therapies. The growing middle class especially in developing nations is boosting market revenue.
Social: Increasing obesity rates due to sedentary lifestyle andconsumption of junk food is a major concern. This has stimulated social awareness campaigns promoting health and wellness.
Technological: Drug manufacturers are investing heavily in R&D to develop advanced prescription medications with improved safety profiles and fewer side effects. Digital health solutions are also transforming obesity management.
Key Takeaways
The global anti-obesity drug market size is expected to reach US$ 2,542.0 Mn by 2023, exhibiting a CAGR of 16.% over the forecast period. Growth factors include increasing prevalence of obesity due to changing dietary patterns and lack of physical activity coupled with rising healthcare costs of obesity related diseases.
Regionally, North America dominates the market and is projected to experience high demand owing to growing obese population, availability of insurance coverage for prescription anti-obesity medications and strategic promotions by manufacturers. However, Asia Pacific is anticipated to witness fastest growth due to rising obesity awareness and healthcare expenditure in major economies like China and India.
Key players operating in the anti-obesity drug market are VIVUS Inc., Pfizer Inc., Novo Nordisk, Bayer AG, F Hoffmann-La Roche, Glaxosmithkline, Arena Pharmaceuticals, Eisai Co. Ltd., Takeda Pharmaceutical Company, and Nalpropion Pharmaceuticals Inc., among others. Major companies are focusing on developing novel therapeutics through R&D and strategic collaborations to consolidate their market positions.
Read More: https://www.rapidwebwire.com/anti-obesity-drug-market-demand/
TheBusinessResearchCompany published its Antiobesity Drugs Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global antiobesity drugs market.
The report covers the antiobesity drugs market’s segments- peripherally acting anti-obesity drugs, centrally acting anti-obesity drugs, prescription drugs (Rx), OTC drugs, monotherapies, and polytherapies.Explore Complete Report https://www.thebusinessresearchcompany.com/report/antiobesity-drugs-global-market-reportAntiobesity Drugs Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 50+ geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Request to get the sample of this report https://www.thebusinessresearchcompany.com/sample.aspx?id=2449=smpThe pharmaceutical industry is witnessing an increase in the number of mergers and acquisitions among companies developing drugs for metabolic disorders such as obesity, diabetes and others.
This is a strategy of pharmaceutical companies to strengthen their drug portfolio in metabolic diseases and launch safe and effective drugs in the market.
