Anti-Obesity Drugs Market
Anti-obesity Drugs Market Size, Share and Report Analysis 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Anti-Obesity Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global anti-obesity drugs market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Anti-Obesity Drugs Market?
The global anti-obesity drugs market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.0 Billion by 2028, exhibiting a growth rate (CAGR) of 11.7% during 2023-2028.
Anti-obesity drugs are medical agents which are consumed to induce weight loss and prevent the symptoms of obesity. They comprise Bupropion-naltrexone (Contrave), Liraglutide (Saxenda), Orlistat (Xenical), Semaglutide (Wegovy), Setmelanotide (Imcivree), and Phentermine-Topiramate (Qsymia). They are prescribed to individuals who have excessive quantities of body fat and whose body mass index (BMI) is greater than 27. They are suggested by healthcare providers when individuals face difficulties in losing weight after evaluating their health conditions and history of diseases. They are primarily consumed for more than twelve weeks to facilitate major weight loss and are often paired with lifestyle changes to get better results. They are also paired with a low-fat diet to reduce cholesterol levels, which contributes to increasing body weight and causing cardiovascular complications. They function by altering various fundamental processes of the human body for regulating weight, suppressing appetite, and absorbing calories. They also increase energy consumption, metabolism, and thermogenesis in the body, which ultimately helps overweight individuals to lose weight spontaneously. They provide assistance in lowering blood pressure levels and controlling diabetes by decreasing the levels of glucose in the blood. They are also used for treating alcohol and opioid addictions which are responsible for damaging the kidneys and liver.
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What are the growth prospects and trends in the anti-obesity drugs industry?
At present, the increasing demand for anti-obesity drugs, as they are easily available, safe to consume, and provide effective results when paired with appropriate lifestyle changes, represents one of the primary factors influencing the market positively. Besides this, the rising occurrence of obesity among young individuals due to the growing consumption of high-calorie unhealthy diets is offering a favorable market outlook. In addition, the increasing awareness about the benefits of managing weight and consuming a healthy diet consisting of adequate amounts of protein, carbohydrates, minerals, vitamins, and antioxidants is propelling the growth of the market.
Apart from this, the rising utilization of telemedicine as a replacement for hospital visits, along with the wide availability of online pharmacies delivering medicines to the doorstep of buyers, is contributing to the growth of the market. Additionally, the rising prevalence of various chronic diseases, such as type 2 diabetes, thyroiditis, and arthritis, which are responsible for increasing body weight, is supporting the growth of the market. Moreover, key market players are investing in research and development (R&D) initiatives to create better therapeutics.
They are also implementing effective marketing strategies, such as influencer and social media marketing, to connect with their targeted customers and boost their product sales. Furthermore, the rising incidence of obesity due to the increasing trend of consuming packaged foods, carbonated drinks, and high-calorie fast foods, such as pizza, burgers, hotdogs, and French fries, is bolstering the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Drug Class:
Peripherally Acting Drugs
Centrally Acting Drugs
Breakup by Drug Type:
Prescription Drugs
Breakup by Distribution Channel:
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Boehringer Ingelheim International GmbH, Currax Pharmaceuticals LLC, Gelesis, GlaxoSmithKline plc, Merck & Co. Inc., Norgine B.V., Novo Nordisk A/S, Pfizer Inc., Rhythm Pharmaceuticals Inc., SHIONOGI & Co. Ltd., Takeda Pharmaceutical Company Limited and Vivus LLC.
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