by The anti-obesity drug market includes drugs intended to help in weight loss or weight management. These drugs aim to suppress appetite, inhibit fat absorption in the body, increase metabolism to facilitate weight loss. The increasing prevalence of obesity owing to sedentary lifestyle and unhealthy eating habits has created high demand for anti-obesity drugs. Obesity significantly raises the risk of various chronic diseases like diabetes, heart disease and many forms of cancer.
The Global anti-obesity drug market is estimated to be valued at US$ 2928.39 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the anti-obesity drug market are ARJO, Etac AB, Medline Industries Inc., Guldmann Inc., Sunrise Medical Inc., Stryker Corporation, Winncare Group (Mangar Health), Joerns Healthcare Inc., Invacare Corporation, Baxter (Hill Rom Holding Inc.), Gainsborough Healthcare Group, and Savaria Corporation (Handicare Group AB), among others.
The market provides several opportunities for players in areas such as development of new drug formulations, combination therapies and targeting unmet needs. Technological advancements are also driving the market with development of digital therapeutics, connected devices and novel drug delivery mechanisms.
The key drivers propelling the growth of Anti-Obesity Drugs Market Size include increasing global obesity rates, initiatives by governments and healthcare organizations to curb obesity, large patient pool seeking effective weight loss therapies and strong product pipeline with novel mechanisms of action.
Market Drivers
One of the major drivers for the anti-obesity drug market is the rising global prevalence of obesity. As per WHO, worldwide obesity has nearly tripled since 1975 and currently, over 1.9 billion adults are overweight out of which over 650 million are obese. Obesity significantly increases the risk of chronic diseases thus imposing huge economic burden on healthcare systems. This has prompted regulatory bodies and governments to launch various initiatives and guidelines to curb obesity. Increasing development of innovative drug formulations and combination therapies with novel mechanisms of action also provide momentum to market growth. Large patient population seeking practical and proven therapies for weight loss further boost the demand for anti-obesity drugs.
Challenges in the Anti-Obesity Drug Market
The Anti-Obesity Drug Market faces many challenges today. One of the biggest challenge is to gain public acceptance for drug-based weight loss programs. There are still concerns among some groups about the safety and side-effects of obesity drugs. Manufacturers have to conduct rigorous clinical trials to prove the safety and efficacy of new drugs to regulatory bodies and gain public trust. Another major challenge is the development of drugs that promote sustainable weight loss over long periods without side-effects. Most existing drugs only help in short-term weight loss and patients tend to regain weight over time. Developers are focusing on therapies that can alter metabolism and body weight regulation over the long run. High development costs of new drug entities and gaining insurance coverage for expensive obesity drugs also pose challenges.
SWOT Analysis
Strength: Growing medical needs for obesity treatment due to increasing obesity prevalence. Strong pipeline of potential drugs in clinical trials.
Weakness: Issues of drug safety, side effects and relapse or weight regain limit long term usage. High development costs of new entities.
Opportunity: Potential of new mechanisms of action like GLP-1, dopamine and serotonin system therapies. Emerging trends of digital health solutions for drug adherence.
Threats: Intense competition from other treatment modalities like bariatric surgery. Pricing pressures and difficulties in obtaining insurance coverage.
Geographical Regions
North America currently dominates the anti-obesity drug market in terms of value, owing to the high obesity rates and pharmaceutical R&D spending in the region. The anti-obesity drug market in the United States is estimated to surpass $1 Billion by 2024. However, Asia Pacific region is poised to be the fastest growing market during the forecast period, with China and India emerging as major markets. This is due to rising incomes, changing lifestyles, expanding healthcare infrastructure and growing medical needs of a burgeoning middle class in Asia.
The fastest growing regional market for anti-obesity drugs during the forecast period is expected to be Asia Pacific. Several factors will contribute to this growth, including rising obesity prevalence, increasing healthcare spending, growing economies, large patient pools and high unmet needs in developing Asian markets. Penetration of western lifestyles, consumption of junk and processed foods is driving obesity in Asia. Governments are also actively supporting weight management programs. This makes Asia an attractive market for new drug launches and marketing strategies.
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1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
