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Anti-obesity Drugs Market to Gain Traction from Increasing Awareness Regarding the Benefits of Weight Loss: Fortune Business Insights™
Posted on Apr 26 2021 3:37 AM
"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, 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. "
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.
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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.
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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.
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:
Regional Insights-
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 for drugs in the region. In addition, rising instances of obesity among the population in the U.S. are compelling people to adopt weight management consulting, which is estimated to further surge the 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 accelerating the demand for these drugs in the region.
Segment-
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.
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Competitive Landscape-
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.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Industry Developments-
- In December 2020, the 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
Table Of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Reimbursement Scenario by Key Countries/Region
- Recent Advancements in Kidney Stone Management Devices
- Key Industry Trends
- Key Industry Developments (Mergers, Acquisitions, and Partnerships)
- Impact of COVID-19 on Kidney Stone Management Devices Market
- Global Kidney Stone Management Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast By Type
- Lithotripsy
- Ureteroscopy
- Percutaneous Nephrolithonomy (PCNL)
- Market Analysis, Insights and Forecast By End User
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Market Analysis, Insights and Forecast By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
ToC Continue…
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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