The anti-obesity drug market was estimated at US$1.652 billion in 2021.
NOIDA, UTTAR PARDESH, INDIA, December 18, 2023 /EINPresswire.com/ — According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2021 and 2028, the anti-obesity drug market was valued at US$1.652 billion in 2021 and is anticipated to propel significantly over the coming years.
The anti-obesity drugs market is influenced by factors such as the increasing prevalence of obesity and overweight individuals worldwide is leading to severe chronic conditions like type 2 diabetes, various forms of cancer, and premature mortality. People’s lifestyles are shifting, with a growing number spending extended periods on laptops and adopting unhealthy diets, contributing to the rise in obesity. Additionally, there are initiatives from governments and institutions aimed at addressing this issue.
The market for anti-obesity drugs is projected to experience consistent growth throughout the forecast period. These drugs play a crucial role in managing weight and promoting a sustainable and healthy lifestyle. Administered to individuals dealing with obesity, they often involve catecholamine-releasing agents like phentermine and employ appetite-suppressant mechanisms. The increasing prevalence of obesity, particularly among adults, and the associated lifelong ailments such as diabetes and cancer, is a key factor propelling the growth of the anti-obesity drug market. Additionally, lifestyle changes contributing to obesity, coupled with government initiatives and ongoing expert research and trials, are expected to further drive the market’s expansion. According to the World Health Organization (WHO), approximately 2.8 million people succumb to obesity or overweight-related causes annually. Furthermore, the growing number of obese children, reaching around 39 million under the age of 5 years in 2020 according to WHO, raises concerns and emphasizes the need for anti-obesity medications.
Access sample report or view details: https://www.knowledge-sourcing.com/report/anti-obesity-drug-market
Categorized based on mechanism of action, anti-obesity drugs can be distinguished between centrally acting drugs and peripherally acting drugs.
Based on drug type, the market can be segmented into prescription drugs and OTC drugs. The prescription drug segment is expected to hold a significant market share. During the pandemic, various companies explored new classes of medications designed to aid weight loss and manage diabetes, as a potential strategy to combat the effects of COVID-19, particularly on the obese population. In June 2021, the FDA approved Novo Nordisk’s weight-management drug, reflecting ongoing research and development activities that are likely to drive the demand for prescription drugs. Additionally, the global population’s increased consumption of unhealthy foods is contributing to declining health, leading to a rise in obesity prevalence, especially in certain developed regions. For example, according to a Eurostat report in July 2021, more than half (53%) of the population in Europe was overweight, with 36% classified as pre-obese and 17% as obese. In June 2020, China Medical System Holdings entered into a USD 400 million-plus agreement to secure Chinese commercialization rights for Gelesis Inc.’s prescription obesity management product, Plenity. These initiatives by market players, combined with growing awareness of prescription medicine, are expected to contribute to the growth of the prescription drugs segment.
North America is projected to lead the global anti-obesity drugs market. The key drivers for market growth include an increase in the number of obese individuals and substantial healthcare expenditure. According to a SingleCare Administrators article from February 2022, 1 in every 3 U.S. adults is reported to be obese. The highest rates of obesity in the United States are observed in non-Hispanic black women, reaching 59%. Obesity rates are elevated among Hispanic, Mexican American, and non-Hispanic black populations compared to Caucasians. The South and Midwest regions exhibit the highest prevalence of obesity. Across all U.S. states and territories, the obesity rate is at least 20%.
The anti-obesity drug market is characterized by the presence of both global and regional companies, contributing to its moderation. The competitive landscape involves the examination of several well-established international and local companies that hold significant market shares, including GlaxoSmithKline PLC, Pfizer Inc., Novo Nordisk AS, F. Hoffmann-La Roche AG, and Bayer AG. In March 2023, Novo Nordisk announced the imminent launch of its weight loss medication, Wegovy, in the UK. This drug is intended for use by adults receiving treatment through a specialist NHS weight management service.
The market analytics report segments the anti-obesity drugs market using the following criteria:
• By Mechanism of Action
o Peripherally Acting Drugs
o Centrally Acting Drugs
• By Drug Type
o Prescription Drugs
o OTC Drugs
• By Geography
o North America
• United States
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• United Kingdom
• Germany
• France
• Spain
• Others
o Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
o Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others
Companies Profiled:
• Alizyme
• Bayer AG
• Bristol-Myers Squibb
• Currax Pharmaceuticals LLC
• F.Hoffman-La Roche AG
• GlaxoSmithKline PLC
• Merck & Co. Inc.
• Norgine BV
• Novo Nordisk AS
• Pfizer Inc.
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Ankit Mishra
Knowledge Sourcing Intelligence LLP
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