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| Global Anti-Obesity Drug Market |
The global Anti-Obesity Drug Market is estimated to be valued at US$ 2,542.0 Mn in 2023 and is expected
to exhibit a CAGR of 16.% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Anti-obesity drugs help in weight loss and weight management by decreasing appetite
or increasing feeling of fullness. These drugs are prescribed as part of a
weight-loss treatment program that also includes changes to diet and physical
activity habits. Obesity has become a major health issue worldwide due to
sedentary lifestyle and unhealthy diets. Anti-obesity drugs aid in reducing
obesity-related comorbid conditions like diabetes, cardiovascular diseases, and
cancers.
Market key trends:
There is a rise in investments by companies in R&D of novel anti-obesity
drugs. Several candidates targeting GLP-1, PCSK9, and NPC1L1 pathways are in
preclinical and clinical phases of development. Advancements in drug delivery
methods such as implants and injections are being evaluated to improve efficacy
and safety of anti-obesity medications. Growing prevalence of obesity due to
genetic predisposition and urbanization is also boosting demand for
anti-obesity pharmaceuticals globally. Regulatory approvals of new treatment
options and increasing health consciousness among consumers are some other
important trends fueling growth of this market.
Porter's Analysis
Threat of new entrants: The threat of new entrants is high given the growing
demand for anti-obesity drugs and ease of entering the market. However, high
R&D costs and presence of major pharmaceutical companies poses entry
barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate due to
the availability of alternative treatment options and less switching costs
involved. However, demand for effective and long term treatment gives buyers
some negotiating power.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to
the global presence of major raw material suppliers and differentiation in raw
materials. Suppliers can threaten to integrate forward if not offered
competitive prices.
Threat of new substitutes: Threat from substitutes is moderate as bariatric
surgery and lifestyle changes are available substitutes. However, drugs offer
less invasive treatment.
Competitive rivalry: Competition in the market is high among major
pharmaceutical players due to potential blockbuster drugs and growth
opportunities in obesity segment.
Key Takeaways
The Global
Anti-Obesity Drug Market is expected to witness high growth, exhibiting
16% CAGR over the forecast period, due to increasing prevalence of obesity and
growing adoption of prescription drugs.
On the regional front, North America dominated the anti-obesity drug market in
2023 and is expected to maintain its lead over the forecast period. This can be
attributed to growing obesity rates, rising healthcare expenditure, and
presence of major pharmaceutical companies in the region. Asia Pacific is
poised to showcase the fastest growth in the market owing to rising disposable
income, growing obesity-related diseases, and increasing penetration of leading
players in the region.
Key players operating in the anti-obesity drug market are 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. Major players are focused on new product
launches and strategic collaborations to strengthen their market position.
Read More: https://www.trendingwebwire.com/anti-obesity-drug-market-analysis/