Anti-Obesity Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: March 22, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 2.42 billion |
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Revenue Forecast in 2031 |
US$ 7.97 billion |
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CAGR |
16.1% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Drug Class, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global anti-obesity drugs market was valued at US$ 2.42 billion in 2022 and is expected to register a revenue CAGR of 16.1% to reach US$ 7.97 billion by 2031.
Anti-obesity Drugs Market Fundamentals
Weight loss medications or anti-obesity drugs are pharmacological agents that help people lose or maintain their weight. These drugs affect one of the most fundamental processes in the human body, weight management, by influencing appetite or calorie absorption. However, obesity is a medical disorder characterized by abnormal or excessive fat accumulation in the body. Obesity can be defined as having a body mass index of 30 or higher. Obesity is caused by a variety of factors, including unhealthy eating habits, physical inactivity, and genetic make-up. Obesity has a major detrimental impact on a person’s health. Obese individuals are more likely to develop chronic diseases such as breast cancer, endometrial cancer, colon cancer, type 2 diabetes, cardiovascular disease, and musculoskeletal disorders. Additionally, obesity is marked by a long-term positive energy balance that results in excess adiposity. Obesity causes anatomical changes, such as venous stasis and hepatic steatosis, physiologic changes, such as insulin resistance and inflammation, and functional impairments, including gastroesophageal reflux disease, urine incontinence, osteoarthritis, and incapacity. Obesity increases the likelihood of developing over 200 chronic diseases and is connected with considerable morbidity and mortality rates. Obesity is complicated to treat since it is influenced by genetics, epigenetics, socioeconomic status, access to food and exercise, psychological health, iatrogenic causes, and behavior.
Biological responses to adipose tissue loss result in a drop-in metabolic rate and an increase in energy efficiency, as well as an increase in hunger and a decrease in satiety. Drug therapy assists patients in sticking to lifestyle adjustments and overcoming these responses. Monotherapy often results in a 3% to 8% loss of total body weight from baseline, and combination therapy can result in even higher loss.
Although long-term aims are prevention through education and improvements to the obesogenic environment, treatment is essential for those already obese. Surprisingly, therapy options are still fairly restricted. Dieting and/or exercise alone do not generally result in significant or long-term weight loss. Still, effective psychological interventions, such as cognitive behavioral therapy, are difficult to deliver on a large scale and have disappointing long-term effects. In terms of weight loss, comorbidity reduction, and improved survival, bariatric surgery, such as Roux-en-Y bypass or gastric banding, is far more beneficial.
However, due to concerns regarding perioperative mortality, surgical complications, and the frequent need for reoperation, these operations are typically reserved for extremely obese patients. An alternative to surgery is to system to support medicines that can lower body weight by reducing food consumption or absorption and/or increasing energy expenditure.
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Anti-obesity Drugs Market Dynamics
The market for anti-obesity medications is predicted to grow due to an increase in cases of obesity and overweight among patients globally as a result of sedentary lifestyles and poor eating habits. As the global obesity population increases, the main competitors in the market are developing new products and seeking market approvals. For instance, Novo Nordisk and Evotec AG collaborated in 2021 to find and produce therapeutic molecules to treat a variety of metabolic disorders such as obesity, diabetes, and other related conditions. The growing need for long-acting pharmaceuticals is predicted to open up significant prospects for market vendors to produce new products. This factor is predicted to help the market thrive in the long run.
Numerous industry analysts and vendors are conducting research on medications that can treat obesity and type II diabetes due to their increased prevalence. For instance, AstraZeneca’s MED10382 and Novartis’ Bimagrumab are two drugs being evaluated for obesity and type II diabetes. Additionally, the introduction of novel anti-obesity medications and untapped prospects in emerging regions would drive demand growth during the projection period. For instance, Wegovy (semaglutide) injection was approved by the US FDA in 2021, for chronic weight management in adults with obesity or overweight, with at least one weight-associated complication, such as type 2 diabetes, high blood pressure, or high cholesterol.
Anti-obesity Drugs Market Ecosystem
The global anti-obesity drug market has been analyzed from three perspectives: drug class, distribution channel, and region.
Anti-obesity Drugs Market by Drug Type
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Based on drug type, the global anti-obesity drug market has been segmented into prescription drugs and OTC drugs.
The prescription drugs segment dominated the market in the base year 2022, due to the strong presence of market incumbents with regulatory clearances for their products. These companies are encouraging further product acceptance by increasing investment in R&D projects and strategic partnerships to bring viable therapies to market. Furthermore, rising healthcare professional prescriptions are driving up prescription drug sales, resulting in the segment’s dominance in the global market.
Anti-obesity Drugs Market By Drug Type
Based on drug type, the global anti-obesity drug market has been segmented into prescription drugs and OTC drugs.
The prescription drugs segment is expected to dominate the market during the forecast period. As COVID-19 has serious implications for the obese population, several businesses have been developing new classes of drugs that help people lose weight and regulate diabetes as a potential in treating the pandemic disease. For instance, Novo Nordisk AS revealed in September 2020 that it is researching the GLP-1 medication used to treat obesity in COVID-19 patients. Such research and development initiatives are likely to drive prescription medicine demand.
Increased junk food/fast food consumption is causing global population health to deteriorate, leading to an increase in the prevalence of obesity, particularly in some industrialized countries. According to a July 2021 Eurostat study, more than half of Europeans (53%) were overweight (36% pre-obese and 17% obese). Furthermore, the older the age group, the greater the proportion of overweight people: those aged 18 to 24 had the lowest proportion (25%). In comparison, those aged 65 to 74 had the highest proportion (66%).
Anti-obesity Drugs Market by Distribution Channel
Based on distribution channel, the global anti-obesity drug market has been segmented into hospital and retail & online pharmacies.
The retail & online pharmacies segment is expected to contribute the most revenue in the global market owing to the usage of e-pharmacies platforms and the availability of anti-obesity medications, making drug procurement easier for the patient population. Furthermore, obesity is a chronic problem, and the patient requires a refill to maintain the long-term treatment plan, resulting in increased acceptance of anti-obesity drugs via retail and online pharmacy distribution channels.
Anti-obesity Drugs Market by Region
Based on region, the global anti-obesity drug market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is estimated to dominate the market during the forecast period owing to an increase in the obese population and high healthcare spending, which are the key factors driving the market revenue growth. According to the Centers for Disease Control and Prevention (CDC), adult obesity prevalence is increasing due to current conditions such as working from home, less physical exercise, and financial and other stress among the adult population, which leads to market revenue growth in the region.
Asia Pacific is expected to register significant revenue growth during the forecast period. Growing consumer disposable income, rising healthcare costs, and the increasing prevalence of obesity and both type I and type II diabetes are all factors driving market expansion in the region. The rising drug demand and growing awareness of anti-obesity treatments in Asia Pacific countries such as India, China, and South Korea would add to the anti-obesity drugs market revenue growth in the region.
Anti-obesity Drugs Market Competitive Landscape
The prominent market players in the global anti-obesity drugs market include:
Anti-obesity Drugs Market Strategic Developments
The prescription drugs segment dominates the global anti-obesity drugs market.
The global anti-obesity drugs market is expected to reach US$ 7.97 billion by 2031.
The global anti-obesity drugs market is expected to register a revenue CAGR of 16.1% during the forecast period.
The prominent market players in the global anti-obesity drugs market include Boehringer Ingelheim GmbH, Novo Nordisk A/S, Arena Pharmaceuticals Inc., Takeda Pharmaceuticals Company Limited, and Zydus Cadila.
Asia Pacific is the key revenue growth region in the global anti-obesity drugs market.
*Insights on financial performance is subject to availability of information in public domain