With 24.7% CAGR, Anti-Obesity Drugs Market Size worth USD 13.26 Billion in 2029
Fortune Business Insights
Updated 5 min read
Fortune Business Insights
According to Fortune Business Insights, The anti-obesity drugs market size valued at USD 1.90 billion in 2021. It is anticipated to grow from USD 2.82 billion in 2022 to USD 13.26 billion by 2029 at a CAGR of 24.7% during the forecast period. Utilization of Online Pharmacies Creates New Market Opportunities
Pune, India, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The anti-obesity drugs market size valued at USD 1.90 billion in 2021. It is anticipated to grow from USD 2.82 billion in 2022 to USD 13.26 billion by 2029 at a CAGR of 24.7% during the forecast period. The market is growing at a good pace due to the growing risk of chronic ailments. This information is provided by Fortune Business Insights™ in a report titled, "Anti-Obesity Drugs Market, 2022-2029."
Utilization of Online Pharmacies Creates New Market Opportunities
Due to the reduction of in-person visits to healthcare professionals, this industry was negatively affected during the COVID-19 outbreak. Furthermore, the high risk of virus transmission has led to the imposition of strict lockdown worldwide. Moreover, the unavailability of necessary drugs in certain places negatively affects the anti-obesity drugs industry. However, the utilization of online pharmacies and the increasing usage of telemedicine have given industries a chance to lower their loss. These factors helped industry growth during the outbreak.
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Increasing Investment in R&D InitiativesDrives the Prescription Drugs Segment
On the basis of type, the global market is divided into over-the-counter (OTC) drugs and prescription drugs. The prescription drugs segment will dominate due to the growing adoption of these products by increasing investment in R&D initiatives to introduce effective treatments.
Rising Adoption of Smart Diagnostic Platforms Drives the Retail and Online PharmacySegment
In terms of distribution channel, the market is divided into retail and online pharmacy and hospital pharmacy. The retail and online pharmacy segment will gain traction due to the growing usage of e-pharmacies platforms.
Report Coverage
The report provides insights into the regional analysis covering different regions, contributing to the market's growth. The report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact the market. Adopting strategies by major players to introduce partnerships, collaboration, and new products will contribute to the market growth.
Rising Chronic and Debilitating Problemsto Augment Product Demand
The substantial upsurge in the prevalence rate of obesity has led to a large patient population suffering from chronic and debilitating problems, which has surged the demand for the product to a great extent. Another reason that escalates the demand for the product is the growing awareness of unhealthy diets among all age groups. Meanwhile, rising R&D expenses and limited revenue growth could impede the anti-obesity drugs market growth.
Regional Insights
Rising Healthcare SpendingFosters Growth in North America
North America dominated the anti-obesity drugs market share and is expected to maintain its position due to the growing healthcare spending to address the awareness of chronic diseases. Furthermore, the demand for the product has surged due to the strong prevalence of the obese population.
The Middle East & Africa is projected to witness lower growth during the forecast period due to less awareness about such products and low healthcare expenditure per person.
Europe is estimated to showcase considerable growth due to growing investments in digital medical devices across the region to enhance the patient experience.
Leading Players Engages in Acquisition Strategies to Boost their Market Presence
Top firms, such as Novartis AG, VIVUS LLC., and Currax, will likely invest in R&D activities and technological advancements to expand their market presence. With increasing investments in advanced design, the market is consolidated, with a few market players for better healthcare infrastructure.
Key Industry Development:
November 2021: Novo Nordisk proposed a favorable opinion and recommended suitable ways for adults to control obesity problems.
List of the Companies Profiled in the Market of Anti-obesity Drugs:
Pfizer Inc. (U.S.)
Sandoz International GmbH (Novartis AG) (Germany)
Boehringer Ingelheim International GmbH (Germany)
Novo Nordisk A/S (Denmark)
GlaxoSmithKline plc (U.K.)
VIVUS LLC. (U.S.)
Currax Pharmaceuticals LLC (U.S.)
F. Hoffmann-La Roche Ltd (Switzerland)
Table Of Contents :
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Market Trends
Key Insights
Prevalence of Obesity - By Key Countries/Region
New Product Launches
Key Industry Developments – Mergers, Acquisition, and Partnerships
Pipeline Analysis
Impact of COVID-19 on the Global Market
Global Anti-obesity Drugs Market Analysis, Insights and Forecast, 2018-2029
Market Analysis, Insights and Forecast – By Type
Prescription Drugs
OTC Drug
Market Analysis, Insights and Forecast – By Distribution Channel
Hospital Pharmacy
Retail and Online Pharmacy
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
North America Anti-obesity Drugs Market Analysis, Insights and Forecast, 2018-2029
Market Analysis, Insights and Forecast – By Type
Prescription Drugs
OTC Drug
Market Analysis, Insights and Forecast – By Distribution Channel
Hospital Pharmacy
Retail and Online Pharmacy
Market Analysis, Insights and Forecast – By Country
U.S.
Canada
Europe Anti-obesity Drugs Market Analysis, Insights and Forecast, 2018-2029
Market Analysis, Insights and Forecast – By Type
Prescription Drugs
OTC Drug
Market Analysis, Insights and Forecast – By Distribution Channel
Hospital Pharmacy
Retail and Online Pharmacy
Market Analysis, Insights and Forecast – By Country/ Sub-Region
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