Newark, New Castle, USA, April 10, 2023 (GLOBE NEWSWIRE) -- According to a recent Growth Plus Reports assessment, the is estimated to reach US$ 7.97 billion by 2031, with a revenue CAGR of 16.10%. The report examines the vital growth strategies, factors and prospects, competitive scenarios, shifting industry trends, market dynamics, data and forecasts, and ideal investment regions.
Key Takeaways:
- Increased prevalence of obesity and type II diabetes will drive market revenue growth.
- North America will register the fastest revenue growth in the global anti-obesity drugs market.
- The introduction of novel treatments for a range of metabolic diseases will fuel the growth of the market.
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Market Drivers
A rise in overweight and obese cases, as well as unhealthy eating habits are the major factors driving the revenue growth of the global anti-obesity drugs market. Furthermore, introduction of novel treatments for a range of metabolic diseases including obesity, diabetes, and other associated ailments, increasing demand for long-acting medications, rising rates of type II diabetes and obesity, and rising per capita income contribute to the market's revenue growth rate.
Market Segmentation
Growth Plus Reports has analyzed the global anti-obesity drugs market from four perspectives: Drug Type, Distribution Channel, and Region.
Drug Type Segmentation: Based on the drug class, the global anti-obesity drugs market is segmented into prescription drugs and OTC drugs. The prescription drugs segment dominates the market with the largest revenue share because of the presence of strong market competitors that have regulatory approval for their drugs, increased prescriptions from medical professionals, and rising R&D funding.
Distribution Channel Segmentation: Based on the distribution channel, the global anti-obesity drugs market is segmented into hospital, retail & online pharmacies. The retail & online pharmacy segment dominates the market because of the rising popularity of e-pharmacy platforms, the availability of anti-obesity drugs on these platforms, the convenience of home delivery, and the attractive discounts and deals.
Regional Growth Dynamics
Based on the region, the global anti-obesity drugs market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate the global anti-obesity drugs market with the largest revenue share. The dominance of North America can be attributed to increasing prevalence of obesity and both type I and type II diabetes, high healthcare expenditures, rising consumer disposable income, increasing drug demand, and improving awareness of anti-obesity treatments in this region.
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Competitive Landscape
The prominent players in the global anti-obesity drugs market are:
- Boehringer Ingelheim GmbH
- Arena Pharmaceuticals Inc.
- Takeda Pharmaceuticals Company Limited
- Zydus Cadila
- Rhythm Pharmaceuticals
- Merck & Co. Inc.
- Eisai Co. Ltd.
- Novo Nordisk A/S
- Currax Pharmaceuticals LLC
- Orexigen Therapeutics Inc.
- GlaxoSmithKline PLC
- F. Hoffmann-La Roche
- Shionogi Inc.
- Norgine B.V.
- Pfizer Inc.
- Sandoz International GmbH
- Zafgen
The anti-obesity drugs market is extremely competitive, with many players involved. Market leaders increasingly use mergers, collaborations, and acquisitions to increase their market share and launch new drugs and products.
Recent developments:
- Mysimba's Nordic distribution rights were extended by Navamedic ASA in October 2021. In 2017, Mysimba's exclusive Nordic distribution rights were given to Navamedic ASA by Currax Pharmaceutical LLC, formerly Orexigen Therapeutics, Inc.
- The US Food and Drug Administration approved Novo Nordisk's Wegovy (semaglutide) injection in June 2021 for the chronic management of obesity in adults who are obese or overweight and have at least one condition related to their weight, in addition to a lower calorie diet and increased physical activity.
- In January 2021, Novo Nordisk AS and the start-up Fauna Bio announced a partnership to research the molecules and metabolic functions that control metabolism in hibernating animals to find novel therapeutic treatments for obesity.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years - 2021
- Base Years - 2022
- Forecasted Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trend (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL ANTI-OBESITY DRUGS MARKET - ANALYSIS & FORECAST, BY DRUG TYPE
- Prescription Drugs
- OTC Drugs
- GLOBAL ANTI-OBESITY DRUGS MARKET - ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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