Anti-obesity drugs otherwise known as weight loss pills help burn fat, reduce appetite or absorb fat thereby promoting weight loss. These weight management drugs act on the central nervous system or digestive system to facilitate weight loss. With surging cases of obesity triggered by sedentary lifestyles and unhealthy dietary patterns, the demand for anti-obesity pharmaceuticals is expanding rapidly.
The global Anti-Obesity Drug Market is estimated to be valued at US$ 2542 Mn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising obesity rate has emerged as a key driver augmenting the growth of anti-obesity drug market Size. Obesity has more than tripled in many countries since 1975 and as per reports nearly 40% of adults were overweight and 13% were obese in 2016 globally. The trend is likely to continue as consumption of calorie-dense foods increases in tandem with physical inactivity. New drug approvals aimed at aiding weight loss are also fueling the demand in this industry. For instance, the U.S. FDA approval and commercial launch of semaglutide with trade name Wegovy for chronic weight management in adults in 2021 was a major landmark supporting market expansion over the forecast period.
SWOT Analysis
Strength: Anti-Obesity drugs act on brain receptors that control appetite and help in weight loss. Drugs are well researched and FDA approved for long term use.
Weakness: Anti-Obesity drugs are associated with side effects like nausea, vomiting, headache etc. There are also risks of psychiatric issues and heart disease in long term use. Dependence on drugs for weight loss is also seen as a weakness.
Opportunity: Increasing obesity rates globally offer huge market potential for Anti-Obesity drugs. Growing awareness about risks of obesity and availability of new drug formulations present opportunities.
Threats: Preference for non-drug weight loss methods like diet, exercise pose threat. Low patient compliance and rising healthcare costs also threaten growth of this market. Stringent regulations delay drug approvals and impact revenues.
Key Takeaways
The Global Anti-Obesity Drug Market Size is expected to witness high growth. The global Anti-Obesity Drug Market is estimated to be valued at US$ 2542 Mn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030.
North America currently dominates due to high obesity prevalence, favourable reimbursement policies and healthcare spending. However Asia Pacific is fastest growing region due to growing obesity, increasing awareness and disposable incomes.
Key players operating in the Anti-Obesity Drug market are GE Healthcare, R1 RCM, Inc. (Accretive Health), Allscripts Healthcare Solutions, Inc., Kareo, Inc., Cerner Corporation, Quest Diagnostics, and Experian Information Solutions, Inc., among others. These players are focused on new product launches, collaborations and expanding in emerging markets through partnerships.
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