June 19, 2024
Anti-Obesity Drug Market

Anti-Obesity Drug Market Is Estimated To Witness High Growth Owing To Rising Obesity Rates

The anti-obesity drug market is used for reducing and controlling body weight through reducing the appetite or by increasing fullness. These drugs have been proved valuable in combination with diet and exercise for patients who are obese or severely overweight.

The global anti-obesity drug market is estimated to be valued at US$ 2928.39 million in 2024 and is expected to exhibit a CAGR of 7.9%  over the forecast period between 2024 to 2030.

Key Takeaways

Key players operating in the anti-obesity drug market include ARJO, Etac AB, Medline Industries Inc., Guldmann Inc., Sunrise Medical Inc., Stryker Corporation, Winncare Group (Mangar Health), Joerns Healthcare Inc., Invacare Corporation, Baxter (Hill Rom Holding Inc.), Gainsborough Healthcare Group, and Savaria Corporation (Handicare Group AB), among others. The increasing prevalence of obesity globally is fueling research in this area for developing new and better anti-obesity drugs. Currently approved drugs like orlistat and lorcaserin are also available in fixed dose combination with other anti-obesity drugs. This allows targeting several pathways related to obesity for better results. A rise in obese population worldwide has opened opportunities for anti-obesity drug manufacturers for global expansion of their business.

Market Drivers

The primary driver boosting the Anti-Obesity Drug Market Size is rising obesity rates worldwide. Obesity greatly increases the risk of several chronic diseases like diabetes, heart diseases, hypertension, etc. According to the National Institutes of Health, obesity is a major public health problem in the United States with prevalence over 35% in adults and 18.5% in youth. Rapid urbanization, sedentary jobs and lifestyles have led to a surge in obesity. This has increased the demand for clinically proven and effective anti-obesity drugs for long-term weight management.

PEST Analysis

Political: Regulations around drug testing and approval can impact the growth and development of new anti-obesity drugs. Various countries and regions may have differing drug approval pathways and standards.

Economic: Healthcare spending is rising globally. As obesity rates also rise, more funding and resources may go towards prevention and treatment options like anti-obesity drugs. rising disposable incomes also enable more people to afford costly prescription weight loss treatments.

Social: Social stigma around obesity continues to reduce as body positivity movements grow. More people feel comfortable seeking medical solutions and are open about struggles with weight control. Social media is a factor in spreading awareness about new anti-obesity drugs.

Technological: Research into weight regulation and metabolism aids the development of new molecular targets and mechanisms of action for anti-obesity drugs. Advances in formulation and drug delivery also expand options with oral medications, injectables and implantable therapies.

In terms of value, North America is currently the largest regional market for anti-obesity drugs due to high obesity prevalence, good healthcare infrastructure and reimbursements, regulatory approval of new drugs. The U.S. accounts for a major share.

Asia Pacific is poised to be the fastest growing regional market over the forecast period. Rising obesity with economic development and lifestyle changes, increasing expenditure on healthcare, and growing acceptance of prescription obesity management are driving growth. Knowledge and availability of treatments are also expanding in key Asian countries like China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it