Anti-Obesity Medication Market By Product (Approved and Off-Label), Mechanism of Action (Peripherally Acting Drugs and Centrally Acting Drugs), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Others) – Industry Trends and Forecast to 2031.
Anti-Obesity Medication Market Analysis and Size
The global market for anti-obesity medication has been experiencing growth, driven by increasing obesity rates worldwide and a growing recognition of obesity as a significant public health issue. However, market dynamics may have evolved since then.
Data Bridge Market Research analyzes that the global anti-obesity medication market which was USD 6.62 billion in 2023, is likely to reach up to USD 419.54 billion by 2031, and is expected to undergo a CAGR of 31.6% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016 - 2021)
|
|
Quantitative Units
|
Revenue in USD Billion, Volume in Units, Pricing in USD
|
|
Segments Covered
|
Product (Approved and Off-Label), Mechanism of Action (Peripherally Acting Drugs and Centrally Acting Drugs), Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Others)
|
|
Countries Covered
|
U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa
|
|
Market Players Covered
|
Novartis AG (Germany), Abbott Laboratories (U.S.), Medtronic Plc (U.S.), Boehringer Ingelheim International GmbH (Germany), ABIOMED (U.S.), and Jarvik Heart Inc. (U.S.)
|
|
Market Opportunities
|
|
Market Definition
Anti-obesity medication refers to pharmaceutical drugs or treatments designed to aid in weight loss or managing obesity. These medications work through various mechanisms, such as suppressing appetite, reducing fat absorption, or increasing metabolism. They are typically prescribed for individuals with a body mass index (BMI) above a certain threshold and who have not successfully lost weight through lifestyle changes alone. It's important to note that these medications are usually intended for use in a comprehensive weight loss program that includes dietary changes, exercise, and behavioral therapy.
Anti-Obesity Medication Market Dynamics
Drivers
- Increasing Obesity Rates
The primary driver for the anti-obesity medication market is the rising prevalence of obesity globally. As obesity rates continue to climb, there is a growing demand for effective medical interventions to address weight management and associated health risks. With obesity rates on the rise globally, there is an increasing demand for effective interventions to address this public health challenge. Despite efforts to promote healthy lifestyles and behavioral changes, many individuals struggle to achieve and maintain significant weight loss through diet and exercise alone. Anti-obesity medications offer an additional therapeutic option for those who have not achieved success with lifestyle modifications alone.
- Growing Awareness of Health Risks
Increased awareness among individuals about the health risks associated with obesity, such as cardiovascular diseases, diabetes, and certain cancers, drives them to seek medical solutions for weight management. This awareness contributes to the demand for anti-obesity medications. The growing awareness of health risks associated with obesity has contributed to increased interest in and utilization of anti-obesity medications as part of comprehensive weight management strategies.
Opportunities
- Innovative Drug Development
Pharmaceutical companies have a significant opportunity to invest in research and development to discover and develop novel anti-obesity medications. Innovations in drug development, such as targeting specific pathways involved in appetite regulation or metabolism, could introduce more effective and safer medications for obesity treatment. Innovative drug development in the field of anti-obesity medication is crucial for addressing the complex nature of obesity and improving treatment outcomes for individuals struggling with excess weight.
- Expanding Market offers Opportunities
With the increasing prevalence of obesity worldwide, there is a growing demand for anti-obesity medications in emerging markets. Pharmaceutical companies can expand their market presence globally by addressing the specific needs and preferences of diverse patient populations. The expansion of the anti-obesity medicine market is influenced by various factors, including the increasing prevalence of obesity, growing awareness of obesity-related health risks, advancements in drug development, and shifting treatment paradigms.
Restraints/Challenges
- Rising Safety Issues
Safety is a major concern with anti-obesity medications, as some drugs have been associated with serious side effects, including cardiovascular events and psychiatric disorders. Regulatory agencies impose stringent safety requirements for drug approval, and safety concerns can limit market acceptance and adoption of new medications.
- Regulatory Challenges
Regulatory approval processes for anti-obesity medications are rigorous and time-consuming, involving extensive clinical testing to demonstrate safety and efficacy. Delays in regulatory approvals or stringent regulatory requirements can prolong the time to market and increase development costs for pharmaceutical companies. Regulatory agencies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), impose stringent requirements for the approval of anti-obesity medications. These requirements typically include extensive preclinical and clinical studies to demonstrate the safety, efficacy, and quality of the drugs. Meeting these regulatory standards can be time-consuming and costly for pharmaceutical companies, leading to delays in drug development and market entry.
This anti-obesity medication market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Anti-Obesity Medication Market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.
Anti-Obesity Medication Market Scope
The anti-obesity medication market is segmented on the basis of device type, indication, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Approved
- Off-Label
Mechanism of Action
- Peripherally Acting Drugs
- Centrally Acting Drugs
End User
- Retail Pharmacies
- Hospital Pharmacies
- Others
Anti-Obesity Medication Market Regional Analysis/Insights
The anti-obesity medication market is analyzed and market size insights and trends are provided by country, device type, indication, and end user as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa.
North America is expected to dominate the market due to the strong base of healthcare facilities, the strong presence of major players, the extraordinary healthcare infrastructure, and the large pool of people with heart failure.
Asia-Pacific is expected to witness significant growth due to increased government initiatives to promote healthcare, the rising health awareness among the people and growing demand for such medicines, the large population pool, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Anti-Obesity Medication Market Share Analysis
The anti-obesity medication market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Novartis AG (Germany)
- Abbott Laboratories (U.S.)
- Medtronic Plc (U.S.)
- Boehringer Ingelheim International GmbH (Germany)
- ABIOMED (U.S.)
- Jarvik Heart Inc. (U.S.)
SKU-