Obesity Management Drugs Market Growth, Drug Development, Segment Analysis, Top Companies in Disease, Revenue, Pricing, Distribution, Business Opportunities, Regional Outlook, Forecast till 2027
Obesity is a medical condition in which the body has the excess fat deposition. Obesity is commonly caused due to the excessive food intake, genetic susceptibility, and lack of physical exercise. Drugs used in the treatment of obesity include, Bupropion and Naltrexone, Orlistat, Lorcaserin, Phentermine and Topiramate, and Liraglutide among others.
Statistics:
The global obesity management drugs market is estimated to account for US$ 764.7 Mn in terms of value in 2020 and is expected to reach US$ 1,078.9 Mn by the end of 2027.
Global Obesity Management Drugs Market: Drivers
High prevalence of obesity is expected to propel growth of the global obesity management drugs market over the forecast period. For instance, according to MedAlertHelp.org, over 1.9 billion adults were reported as overweight worldwide.
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Moreover, R&D in obesity is also expected to aid in growth of the global obesity management drugs market. For instance, according to a small study to presented at e-ECE 2020, the 22nd European Congress of Endocrinology, the probiotic strain Bifidobacterium breve, in combination with a calorie-controlled diet, may help children and adolescents with obesity lose weight.
Statistics:
Orlistat held dominant position in the global obesity management drugs market in 2019, accounting for 31.9% share in terms of value, followed by Liraglutide and Lorcaserin, respectively.
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Figure 1. Global Obesity Management Drugs Market Share (%), by Value, by Drug, 2019
Global Obesity Management Drugs Market: Restraints
Lack of proper healthcare infrastructure along with improper development and implementation of clinical practice guidelines and dearth of skilled laborers in emerging markets is expected to hinder growth of the global obesity management drugs market.
Moreover, high cost associated with development of obesity drugs and surgery is also expected to limit the market growth. Additionally, long gestation time needed for research and development activities and the inclusion of clinical trials required to test the drugs add up to significant expenditure.
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Global Obesity Management Drugs Market: Opportunities
Emergence of Covid-19 is expected to offer lucrative growth opportunities for players in the global obesity management drugs market. For instance, in September 2020, researchers from the University of North Carolina reported that obesity can increase the mortality rate in COVID-19 by nearly 50%.
Moreover, R&D of obesity is also expected to aid in growth of the global obesity management drugs market over the forecast period. For instance, in September 2020, a research by Novo Nordisk A/S reported that GLP-1 drugs, which help patients keep blood sugar levels in check, could be used in the treatment of Covid-19 in diabetic and obese patients.
The global obesity management drugs market was valued at US$ 729.9 Mn in 2019 and is forecast to reach a value of US$ 1,078.9 Mn by 2027 at a CAGR of 5.0% between 2020 and 2027.
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Figure 2. Global Obesity Management Drugs Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
Several developed countries are failing to decrease the prevalence of obesity. For instance, in September 2020, according to a report by the National Audit Office, the U.K. government is expected to fail in its mission to halve childhood obesity in England by 2030.
High prevalence of obesity in emerging economies is expected to propel growth of the global obesity management drugs market. For instance, in September 2020, WellNewMe, a Nigerian health technology company, reported that obesity had become an increasing health concern for many people in sub-Saharan Africa and highlighted that nearly a third of Nigerian women were either overweight or obese in 2018.
Regulations
U.S.
- In the U.S., Federal Food Drugs and Cosmetics Act (FD&C Act) and Controlled Substances Act, or CSA govern all the activities related to branded generics including development, manufacturing, testing, labelling, distribution, advertising & promotion, sales, import export of generic products
- The manufacturer of branded generic products required to obtain abbreviated new drug application (ANDA) approval under section 505(b)(2) of Federal Food Drug and Cosmetics Act
- Requirements for obtaining ANDA are given in 21CFR314.54, which explains Procedure for submission of an application requiring investigations for approval of a new indication for, or other change from, a listed drug (innovator product listed in Orange book)
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Global Obesity Management Drugs Market: Competitive Landscape
Major players operating in the global obesity management drugs market include, F Hoffmann La Roche Ltd., GlaxoSmithKline plc., Orexigen Therapeutics, Inc., Arena Pharmaceuticals, Inc., VIVUS, Inc., Novo Nordisk A/S, and Eisai Co., Ltd.
Global Obesity Management Drugs Market: Key Developments
Major players in the global obesity management drugs market are focused on adopting collaboration and partnership strategies to expand their product portfolio. For instance, in October 2018, Eisai Co., Ltd. entered an agreement with Eurofarma Laboratories S.A. to grant exclusive development and marketing rights for its anti-obesity agent, lorcaserin hydrochloride, in 17 countries in Latin America and the Caribbean, excluding Brazil.
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