Global Anti-Obesity Drug Market, By Mechanism of Action (Peripherally Acting Anti-Obesity Drugs and Centrally Acting Anti-obesity Drugs), By Prescription/Non- prescription (Prescription Drugs and OTC Drugs), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,542.0 Million in 2023 and is expected to exhibit a CAGR of 16.1% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing research and development (R&D) is expected to offer significant growth opportunities for players in the global anti-obesity drug market. For instance, in November 2022, Cosmos Health Inc., a pharmaceutical company, announced that it had entered the development phase for CCX0722, an innovative product for obesity and weight management, based on the effectiveness of biocompatible 3D spatial fillers, from natural ingredients. The product is being optimized in terms of its physicochemical properties and its effects on gut microflora through a series of in vitro studies and simulations. Administration of CCX0722 is expected to reduce food intake by rising satiety and reducing appetite.
Global Anti-Obesity Drug Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global anti-obesity drug market. For instance, the prevalence of obesity is a substantial and potentially modifiable risk factor for rising COVID-19 national caseload and mortality. According to an article published in Diabetes Obesity & Metabolism in August 2021, the need for anti-obesity medications during COVID emerged as a result of the increased danger that obese people would die during COVID-19. The need for anti-obesity medications is anticipated to persist even after the epidemic due to increasing awareness of good lifestyle choices and weight issues.
Global Anti-Obesity Drug Market: Key Developments
In March 06, 2023, WW International, Inc., which offers weight loss and maintenance, entered into a definitive agreement to acquire Weekend Health, Inc., a telehealth platform, for clinical weight management.
Browse 35 Market Data Tables and 34 Figures spread through 170 Pages and in-depth TOC on “Global Anti-Obesity Drug Market”- Forecast to 2030, Global Anti-Obesity Drug Market, By Mechanism of Action (Peripherally Acting Anti-Obesity Drugs and Centrally Acting Anti-obesity Drugs), By Prescription/Non- prescription (Prescription Drugs and OTC Drugs), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/anti-obesity-drugs-market-2824
Key Takeaways of the Global Anti-Obesity Drug Market:
- The global anti-obesity drug market is expected to exhibit a CAGR of 16.1% during the forecast period. Increasing disposable income is promoting the consumption of unhealthy fast foods, which will drive the market demand for anti-obesity therapeutics. Anti-obesity drugs are drugs that help in reducing or controlling body mass, either by decreasing the craving or increasing the consumption of calories. Appetite control is achieved through the use of agonists for appetite-suppressing pathways.
- Among prescription/non- prescription, the prescription segment is estimated to fastest growing in the global anti-obesity drug market over the forecast period. Being overweight or obese is putting people at a higher risk of developing a variety of chronic illnesses, including cancer, diabetes, and diseases of the cardiovascular system, all of which have expensive medical treatments. Due to a rapid rise in anxiety about becoming overweight brought on by rising awareness of obesity, people are switching to anti-obesity medications.
- Among region, Asia Pacific and Africa is expected to register the fastest growth over the forecast period due to the increase in the prevalence of obesity and overweight in these regions. For, instance according to the World Health Organization, in Africa, the number of overweight children under 5 has increased by nearly 24% percent since 2000. Almost half of the children under 5 who were overweight or obese in 2019 lived in Asia.
- Major players operating in the global anti-obesity drug market include 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.
