Anti-Obesity Drugs Market Poised to Garner Maximum Revenues by 2024
The World Health Organization reveals that global obesity has more than doubled since 1980, with over 1.9 billion adults overweight in 2014, of which, more than 600 million were obese. Percentage-wise, an estimated 39% of adults were overweight and 13% were obese in 2014. An additional 42 million children below the age of five were found to be overweight or obese in 2013. Based on two surveys conducted by the Centers for Disease Control and Prevention, an astounding 68.8% of the U.S. adult population is considered to be overweight or obese. It is no surprise, then, that today, most of the world’s population lives in countries where obesity and overweight are claiming more lives than underweight and malnutrition.
This alarming rise in the prevalence of obesity, particularly in the developed region of North America, has been single-handedly propelling the anti-obesity drugs market. Anti-obesity drugs – both prescription and OTC – are of two main types: Centrally-acting drugs and peripherally-acting drugs. These contain a host of pharmacological agents that control or reduce weight by altering either the absorption of calories or regulating appetite.
This comprehensive research publication offers clients an exhaustive database of accurate, authentic, objective, and the most recent information on the global Anti-Obesity Drugs Market. The overall market is segmented based on several key criteria and each segment is thoroughly evaluated to identify the leading and weakest categories. Statistical data and inputs from industry experts support the qualitative data offered in the report and help clients devise actionable and profitable decisions for the future.
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The global market for anti-obesity drugs has been expanding at a significant pace in recent years. With the obvious driving factor being the surge in obesity levels around the globe, this market is also propelled by the strong pipeline of anti-obesity drugs. Advanced medical research by drug-manufacturing companies, medical universities and institutes, and government agencies has also substantially contributed toward the growth of the anti-obesity drugs market.
The anti-obesity drugs market in North America has been flourishing over the years owing to the high level of awareness among the population about obesity and the various risks arising from the medical condition, increased healthcare expenditure, the presence of favorable reimbursement policies, extensive research and development activities in the field, and the increased involvement of government as well as non-government organizations in generating awareness and funding research.
The Asia Pacific market for anti-obesity drugs is anticipated to gain momentum in the coming years thanks to the rise in obese population, resulting from increased spending on processed and packaged foods and the growing consumption of sugar-sweetened beverages. Improving healthcare infrastructure and mounting healthcare expenditure is also expected to drive the market for anti-obesity drugs in APAC.
The leading companies operating in the global anti-obesity drugs market include Boehringer Ingelheim GmbH, Arena Pharmaceuticals Inc., Takeda Pharmaceuticals Company Limited, Zydus Cadila, Rhythm Pharmaceuticals, Merck & Co. Inc., Eisai Co. Ltd., Novo Nordisk A/S, Orexigen Therapeutics Inc., Zafgen, GlaxoSmithKline PLC, Norgine B.V., Pfizer Inc., and F. Hoffmann-La Roche AG. Owing to the increasing prevalence of obesity in several parts of the world, the degree of competition among players in the anti-obesity drugs market has been on the rise. Companies have been heavily investing in the development of agents with increased weight-loss efficacy and a high safety threshold. This gives players a greater chance of approval from regulatory bodies such as the US FDA.
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Companies around the globe are also focused on the development as well as successful commercialization of anti-obesity drugs that are both clinically effective and safe in the long run and also have the potential to generate massive sales and reach blockbuster status. The current portfolio of prescription weight-loss drugs and emerging anti-obesity drugs in pre-clinical or clinical trials acts as a significant force driving the global anti-obesity drugs market.