PUBLISHER: DataM Intelligence | PRODUCT CODE: 1345375
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1345375
Global Anti-Obesity Drugs Market reached US$ 2.5 billion in 2022 and is expected to reach US$ 43.7 billion by 2030 growing with a CAGR of 45.5% during the forecast period 2023-2030.
Obesity is a health disorder with surplus body fat gathered to an magnitude that it may generate a harmful consequence on health. It is typically comprehended as owning a body mass index (BMI) of 30 or above. It is distinctively identified as the biggest and rapid-growing general health concern in developed and developing nations. Anti-obesity drugs are pharmaceuticals prescribed to aid individuals who are obese. These medications function by subduing hunger, boosting metabolism, or precluding the absorption of fat from food.
The market is driven by the growing obese population, increasing awareness and product introductions into the market. The demand is again pushed by reasearch activities for new drug developments, and market developments including mergers, expansions, acquisitions and collaborations among market players.
The Growing Obese Population Drive the Growth of the Anti-obesity Drugs Market
The growing obese population is expected to boost the global anti-obesity drugs market during the forecast period. For instance, according to the World Obesity Atlas 2022, issued by the World Obesity Federation, over 1 billion individuals globally, including one out of five females and one out of seven males, were expected to be living with obesity by 2030.
Moreover, in March 2022, the WHO issued an article remarking that over 1 billion individuals are overweight globally, of which 650 million are adults, 340 million adolescents, and 39 million children. Likewise, WHO assessed that by 2025, roughly 167 million individuals would be less fit due to being overweight or obese.
Again, in March of 2023, the World Obesity Federation (WOF) published a report remarking that by 2035 more than 4 billion individuals accounting for half the world's population is expected to be obese. Further, the World Obesity Atlas 2023, publicized by World Obesity Federation, indicates that the multinational economic effect of overweight and obesity is expected to attain $4.32 trillion perennial by 2035 if precluding and therapy standards do not enhance.
The Increasing Research Activities for Anti-obesity Drugs are Expected to Present the Global Anti-obesity Drugs Market With Growth Opportunities
Increasing research activities for anti-obesity drugs are expected to present the global anti-obesity drugs market with prospective growth opportunities in the forthcoming years. For instance, in June 2022, Innovent Biologics (Suzhou) Co. Ltd., a clinical-stage biopharmaceutical company engaged in the development of anti-obesity medication, reported its topline outcomes from its Phase II clinical trial (NCT04904913) of IBI362, a glucagon-like peptide 1 receptor (GLP-1R) and glucagon receptor (GCGR) dual agonist in China for obesity treatment.
The High Drug Cost is Estimated to Hamper the Global Anti-obesity Drugs Market During the Forecast Period
The high cost of anti-obesity drugs is estimated to hamper the global anti-obesity drug market growth in the forecast period. For instance, a four-week course of Wegovy has an index cost of $1,349 per month, although individuals with insurance that cover the drug disburse less. Provided that individuals are required to remain on the medications for life to assure they do not put weight back on.
For more details on this report - Request for Sample
The global anti-obesity drugs market is segmented based on mechanism of action, drug type, route of administration, distribution channel, and region.
The Prescription Drugs Drug Type is Estimated to Dominate the Global Anti-obesity Drugs Market
The prescription drugs drug type is expected to hold around 57.8% of the global market share owing to increased product authorization from distinct regulatory authorities. For instance, in November 2021, Novo Nordisk reported that the European regulatory authority, Committee for Medicinal Products for Human Use (CHMP), embraced a favorable view and advised the commercialization license for Wegovy for chronic weight management in adults with obesity.
Moreover, in June 2022, the U.S. Food and Drug Administration approved Qsymia as an added indication for the planning of constant weight in pediatric patients 12 years old and older who are overweight, as specified by a body mass index (BMI) of 95th percentile or more elevated when standardized for age and sex. Augmenting a low-calorie diet and a more significant workout with Qsymia is suggested.
North America is Estimated to hold Approximately 38.3% of the Market Share by 2030, Owing to Growing Obese Population in this Region
Owing to the growing obese population in the North American region, it is estimated to dominate the global market holding around 38.3% of the market by 2030. For instance, according to the Trust for America's Health's (TFAH) 19th annual report on the country's obesity, State of Obesity 2022- Better Policies for a Healthier America encountered that four out of 10 American adults are obese, and obesity rates persist to ascend nationwide.
Moreover, according to the High Obesity Program (HOP 2023) supported by the CDC, a flawed diet and lower grades of physical exercise impact general fitness and are substantial threats leading to obesity and chronic conditions. Obesity in the United States impacts 100.1 million (41.9%) grown-ups and 14.7 million (19.7%) youngsters and makes up for roughly $147 billion in annual healthcare expenditures.
The major global players in the anti-obesity drugs market include Eli Lilly and Company, Bayer AG, Bristol-Myers Squibb, Currax Pharmaceuticals LLC, F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Merck & Co. Inc., Norgine BV, Novo Nordisk AS, and Pfizer Inc., among others.
Russia-Ukraine Conflict Analysis
The Russia-Ukraine conflict is assumed to have had a moderate impact on the global anti-obesity drugs market, as this region lacks primary market players. Access to health care is majorly affected because of security considerations, limited mobility, damaged supply chains, and mass population eviction. Again, the import and export of fundamental materials' significance is expected to slightly impact the global anti-obesity drugs market growth in the forecast period.
By Mechanism of Action
By Drug Type
By Route of Administration
By Distribution Channel
Rest of Europe
Rest of South America
Rest of Asia-Pacific
The global anti-obesity drugs market report would provide approximately 53 tables, 54 figures, and 195 Pages.
LIST NOT EXHAUSTIVE