The global Anti-Obesity Drug Market is estimated to be valued at US$ 2,542.0 Mn or Bn 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 are used for weight loss by reducing appetite or increasing feelings of fullness. They aim to help maintain weight loss when used along with lifestyle changes like diet and exercise. Popular anti-obesity drugs include Phentermine, Orlistat, Qsymia and others.
Market key trends:
Growing adoption of telehealth services is one of the key trends being witnessed in the anti-obesity drug market. With social distancing measures in place due to the ongoing pandemic, more people are turning to telehealth platforms to seek medical consultation and treatment remotely. Several anti-obesity drug manufacturers are collaborating with telehealth companies to provide obesity treatment programs involving prescription and supervision of anti-obesity drugs via online video consultations. This is expected to improve access and convenience of obesity care worldwide.
Segment Analysis
The Global Anti-Obesity Drug Market is segmented based on drug type, distribution channel, and geography. By drug type, the market is segmented into peripherally acting drugs such as orlistat, lipase inhibitors, central nervous system acting drugs such as lorcaserin, mixed appetite suppressants, and other anti-obesity drugs. Peripherally acting drugs dominate the market as orlistat is the only FDA approved drug for long term weight management. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Hospital pharmacies dominate the segment as prescription of obesity drugs majorly happens at obesity clinics and bariatric centers located in hospitals.
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 across the globe. The global anti-obesity drug market size is expected to reach US$ 2,542.0 Mn by 2030.
Regional analysis- North America dominates the global anti-obesity drug market due to increasing cases of obesity in the U.S. Further, approval of new drugs is also driving the North American market. Asia Pacific exhibits the fastest growth over the forecast period owing to growing healthcare spending and increasing obese population in India and China.
Key players- 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. Players are involved in strategic collaborations and new product launches 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
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