by The anti-obesity drug market is estimated to be valued at US$ 2,542.0 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 weight management by suppressing appetite or reducing fat absorption in the body. These drugs are prescribed along with healthy lifestyle changes such as exercise and balanced diet. They come in various forms such as tablets, capsules and injections. The commonly used anti-obesity drugs belong to classes such as appetite suppressants, fat absorption inhibitors and lipase inhibitors.
Market Dynamics:
The growth of the global anti-obesity drug market is majorly driven by rising obesity rates worldwide. According to the data by WHO, globally over 1.9 billion adults were overweight in 2016 and out of these around 650 million were obese. Other key drivers include sedentary lifestyle coupled with dysfunctional eating habits; increased aging population and urbanization. Appetite suppressants hold the largest share as they help reduce hunger and food cravings. Their mechanism of action involves stimulating brain chemicals like serotonin and norepinephrine which signal fullness to the brain. Lipase inhibitors work by reducing dietary fat absorption in the intestine. Drugs in this category are well tolerated but have a short onset of action. Significant investment in obesity drug development by major pharmaceutical players is also fueling market growth. However, adverse effects, strict regulations and availability of alternative treatmentmodalities remain major challenges.
SWOT Analysis
Strength:
1) Increasing prevalence of obesity across the globe is driving the demand for anti-obesity drugs.
2) Approval and launch of novel drugs to treat obesity.
3) Growing awareness about medications to manage weight.
Weakness:
1) High development cost of anti-obesity drugs.
2) Potential side effects associated with anti-obesity medications.
Opportunity:
1) Untapped potential in developing countries presents lucrative growth opportunities.
2) Rise in R&D investment and collaborations for development of advanced treatment options.
Threats:
1) Stringent regulatory framework delays drug approval.
2) Safety concerns and side effects associated with some obesity drugs hamper market growth.
Key Takeaways
The Global Anti-Obesity Drug Market is expected to witness high growth, exhibiting CAGR of 16.% over the forecast period, due to increasing prevalence of obesity globally driven by sedentary lifestyle and changing dietary patterns. As per WHO estimates, around 650 million adults globally were obese in 2016.
Regional analysis related content comprises
North America held the largest share of the anti-obesity drugs market in 2023 owing to rising obese population, availability of advanced treatment facilities, and presence of key players in the region. Asia Pacific is projected to witness the highest CAGR during the forecast period due increasing obesity prevalence, growing middle class population and their purchasing power.
Key players related content comprises
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. These companies are focusing on new product launches and collaborations with healthcare companies and academic institutions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
