Anti-obesity Drugs Market to Reach USD 3,421.0 Million by 2027; Increasing Adoption of Weight Manage
Author : Vaishnavi Bakshi | Published On : 16 Aug 2021
The global anti-obesity drugs market size is set to grow significantly owing to the ever-increasing prevalence of obesity among the global population, observes Fortune Business Insights™ in its report, titled, “Anti-obesity Drugs Market Size, Share & COVID-19 Impact Analysis, By Type (Prescription Drugs and OTC Drugs), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.” The market size was USD 1,520.2 million in 2019 and is anticipated to reach USD 3,421.0 million by 2027, exhibiting a CAGR of 10.1% during the forecast period.
Healthcare Sector to Stumble amid COVID-19 Pandemic
The healthcare sector has been the most active ever since the COVID-19 outbreak. While the pandemic has fast-tracked the development of the industry on a global scale, it has also brought numerous adversities upon the sector. These adversities include limited infrastructure in developing countries and the lack of preparedness in case of health emergencies. Key players are focusing on eliminating such challenges. At Fortune Business Insights, we are constantly analyzing the market conditions to offer the most effective solutions at your service.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/anti-obesity-drugs-market-104783
The outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Anti-obesity Drugs Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.
Our research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
It offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for Anti-obesity Drugs market to figure out and study the market’s needs, market size, and competition.
Highlights of the Report:
While making the report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
Key questions answered in the report:
- What will the market growth rate of Anti-obesity Drugs Market in 2026?
- What are the key factors driving the global Anti-obesity Drugs Market?
- Who are the key manufacturers in Anti-obesity Drugs Market space?
- What are the market opportunities, market risk and market overview of the Anti-obesity Drugs Global market?
- What are sales, revenue, and price analysis of top manufacturers of Anti-obesity Drugs Global market?
- What are sales, revenue, and price analysis by types and applications of Anti-obesity Drugs Market?
- What are sales, revenue, and price analysis by regions of Anti-obesity Drugs Market?
Drivers & Restraints-
Rising Cases of Obesity Worldwide to Drive Growth
The increasing cases of obesity and overweight among patients globally due to inactive lifestyles and poor eating habits are anticipated to drive the anti-obesity drugs market growth. For instance, according to the World Health Organization (WHO), over 1.8 billion adults who were aged around 18 years old and more were suffering from being overweight in 2016. In addition, prominent pharmaceutical enterprises are investing extensively in research and development in order to develop effective anti-obesity pharma drugs for patients. This is estimated to further strengthen their demand. However, the low treatment rate against the disease may hinder the growth during the forecast timeline.
Prescription Drugs Segment to Dominate Due to Easy Availability
Based on the type, the prescription drugs segment is anticipated to lead the global anti-obesity drugs market share in 2019. The high growth of the segment is attributed to the easy availability of therapeutically effective anti-obesity drugs in the market. Based on the distribution channel, the hospital pharmacy segment dominates the market owing to the increased patient visits and high sales of prescription-based drugs for weight loss in hospitals and clinics.
Presence of Prominent Enterprises to Help North America Dominate
North America is set to dominate the global anti-obesity drugs market with a value of USD 964.8 million in 2019. The presence of the majority of key players in the U.S. is anticipated to drive the demand fordrugs in the region. In addition, rising instances of obesity among the population in the U.S. are compellingpeople to adopt weight management consulting, which is estimated to further surgethe demand for anti-obesity drugs in the region. For instance, as per the Harvard Medical School, the rate of obesity has increased by more than 50% in less than 40 years.
The market in Europe is projected to showcase a positive growth during the forecast period. High investments in research for the development of therapeutically effective drugs, along with increasing awareness regarding the benefits of weight management among the population are key factors acceleratingthe demand forthese drugs in the region.
Major companies in the Global Anti-obesity Drugs Market are increasingly focusing on research and development activities to create new and innovative products to stay ahead of the competition. Staying on top of market trends & drivers is crucial for decision-makers to hold this emerging opportunity. The study provides information on market trends and development, drivers, capacities, technologies, and the changing investment structure of the Anti-obesity Drugs Industry.
Acquisition Strategies to Aid Key Players Expand their Product Portfolios
Prominent players operating in the global anti-obesity drugs market are focusing on various acquisition strategies in order to expand their businesses. This will also help them strengthen their portfolios. For instance, in September 2019, Currax Pharmaceutical acquired Nalpropion Pharmaceuticals, which helped the company add Contrave anti-obesity medication in its product portfolio.
- In December 2020, theU.S. Food and Drug Administration (FDA) approved Saxenda, Novo Nordisk’s anti-obesity drug for the treatment of obesity in adolescents aged 12-17.
- In February 2019, Eisai Inc. announced that the U.S. Food and Drug Administration (FDA) had accepted its new supplemental drug application. This will update the labeling of BELVIQ, the company’s anti-obesity drug.
A List of Key Manufacturers Operating In the Market Report:
• Novo Nordisk (Denmark, Scandinavia)
• GlaxoSmithKline (Brentford, U.K)
• Vivus Pharmaceuticals (California U.S)
• Currax Pharmaceuticals LLC (New Jersey, U.S)
• Pfizer Inc. (New York, U.S)
• F. Hoffmann-La Roche Ltd (Basel, Switzerland)
• Other Players