The global anti-obesity drugs market grows at a CAGR of 20.9% during the forecast period 2017–2023 to aggregate $6.0 billion by 2023
Factors, such as high prevalence of obesity, unhealthy lifestyle, and chronic nature of obesity, will foster the market growth during the forecast period.
BANGALORE, India – December 04, 2017
Infoholic Research LLP, a global market research and consulting organization has published a study titled “Anti-obesity Drugs Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023” (December 2017).
According to Infoholic Research, the anti-obesity drug market is highly lucrative due to the increasing awareness about fitness and the growing chronic conditions due to obesity. However, the availability of alternative treatment options, such as are Gastric Band, Electrical Stimulation System, Gastric Balloon Systems, Intragastric Balloon System, and Gastric Emptying Systems, are hampering the market growth. Along with this, side effects, such as psychiatric disorder, stroke, stomach and lower back pain, liver problems, suicidal symptoms, and diabetes, are influencing healthcare professionals to have an undesirable perception of the anti-obesity drugs.
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Globally, obesity has nearly tripled since 1975. In 2016, more than 1.9 billion adults who were 18 years and above were overweight. Of these, over 650 million were obese. An obese individual is at a higher risk of developing chronic diseases such as breast cancer, endometrial cancer, colon cancer, type 2 diabetes, cardiovascular diseases, and musculoskeletal disorders.
The Anti-obesity Drugs Market is expected to grow at a CAGR of 20.9% during the forecast period 2017–2023 to touch an aggregate of $6.0 billion by 2023.
The market is analyzed based on three segments, namely top FDA approved drugs, types of anti-obesity drugs, and regions. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). In North America, the US is set to be the leading country. Europe is set to be the second leading region and held more than 23% of the market share in 2016. In Asia Pacific, India, and China are the most attractive countries for the players, and holds huge business opportunities. RoW is set to be an emerging market in the next 5–6 years.
The top FDA approved anti-obesity drugs are Xenical, Saxenda, Contrave, Belviq, and Qsymia. Xenical was the largest selling drug in the market until 2012, but saw a dip in its revenue over the years. However, recently approved Saxenda by Novo Nordisk is gaining large interest among obese people and is growing at a fastest growth rate. The market is also witnessing various mergers, acquisitions, and collaborations among the top players, which is defining the future of the global orphan drugs market.
“Dual therapy for obesity and type 2 diabetes is the latest trend in the market. Therefore, big pharmaceutical companies, such as AstraZeneca, J&J, and Sanofi, are adopting low-risk strategy of using diabetes drugs to treat obesity related problems. This helps the diabetes market players to enter the obesity market. J&J is intended to enter the market for prescription anti-obesity drugs without further investing in development of novel molecules.” - Rikitha K Murthy, Research Analyst (Research – Healthcare) at Infoholic Research
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Further, the report also aims to cover the below-mentioned points:
- 1. Provides an in-depth analysis of the key business opportunities in countries and verticals
- 2. Provides complete details about the various types of hepatitis drugs overview
- 3. Provides complete details of trending top 5 anti-obesity drugs
- 4. Provides complete details about the analysis of top 10 players
- 5. Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies
Ms. Kathakali Basu
Infoholic Research LLP