The global anti-obesity therapeutic market size is anticipated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising number of obese patients, quickly changing lifestyle, and increasing unhealthy eating habits among people.
Obesity is a condition in which a person is extremely obese and overweight. Anti-obesity therapies are the treatments that help people lose their weight and control the body weight. Unhealthy diet such as fast food, high calorie intake, lack of physical activities, improper of sleep, and hereditary history of the person are some of the vital reasons for causing obesity. Furthermore, the ideal anti-obesity therapies are those that follow processes that helps in balancing energy and overlap with other physiological activities of the body. According to a survey published in 2017 by Our World in Data, 13% of adults worldwide are obese while 39% of all adults are overweight all over the world. Furthermore, one out of every five children and old age people in the world are overweight. Obesity rates have been steadily rising over the last few decades. It is often referred to as a global endemic, particularly in developed countries where lifestyle-related problems such as stress, anxiety smoking & drinking are more common.
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According to a report published in the European Journal of Nutrition in December 2020, during the COVID- 19 pandemic, obesity have increased dramatically all around the world. People are neglecting gym and yoga courses due to social distancing protocol, which resulted in a shift in lifestyle and a decline in physical exercise. This increase in the obesity population is predicted to fuel the demand for anti-obesity medications.
Market Trends, Drivers, Restraints, and Opportunities
Growing adoption of deskbound regime and lack of physical exercise are some of the key factors fueling the market growth.Rising incidences of obesity related diseases such as cardiovascular disorder and diabetes are expected to boost the market growth.Increasing investment on R&D activities to enhance the anti-obesity therapeutic efficacy is estimated to boost the market growth.Lack of health awareness against weight management and false mindset of people are the restraining factors hindering the market growth.Many side effects of the anti-obesity treatment such as psychiatric disorder as well as strokes is anticipated to hamper the market growth.Collaboration among various pharmaceutical companies to improve market potential and many government initiatives are offering great opportunities for market expansion in the coming years.Market Segment Insights
Prescription drugs segment is projected to expand at a considerable CAGR
On the basis of drugs, the global anti-obesity therapeutic market is segregated as prescription drugs, over the counter drugs, and others. The prescription drugs segment is projected to expand at a considerable CAGR during the forecast period. With the outbreak of the COVID- 19 pandemic, various pharmaceutical companies have been developing new classes of drugs that help people lose weight and control diabetes as a potential in fighting the pandemic disease. Novo Nordisk AS has announced in September 2020 that it has started study on COVID-19 patients on the GLP-1 medication used to treat obesity in September 2020. Thus, prescription drug demand is predicted to upsurge the segment as a result of such research and development activities.
Moreover, China Medical System Holdings has signed a USD 400 million-plus deal in June 2020 to commercialize US biotech startup Gelesis Inc.'s prescription obesity control medicine, Plenty, in China. The expansion of the prescription pharmaceuticals industry is expected to boost the segment by all of these advancements by the participants.
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Regional Outlook
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share in the coming years due to the increasing obese population and growing consumption of unhealthy fast-food by a large number of people in the region. According to the Centers for Disease Control and Prevention (CDC), adult obesity incidence is increasing and racial & ethnic disparities carry on, owing to the prevailing circumstances of lack of physical workout, work from home, and financial along with other stress among the adult population.
Furthermore, as per the CDC reports, obesity remains high and currently, twelve states have an adult obesity incidence at or above 35% including Arkansas, Indiana, Michigan, Alabama, Kansas, West Virginia, Oklahoma, Louisiana, Kentucky, Mississippi, South Carolina, and Tennessee. The number is high as compared to 2018, when nine states reported 35% obese population. Moreover, a US-based company, Kintai Therapeutics, has announced that it was working across therapeutic areas and has started IND-enabling studies for its first novel therapy for the treatment of obesity in 2020. KTX-0200 is the initial medication candidate, and it has shown persistent weight loss and benefits in other health indices in animal models. The introduction of these pipeline drugs, as well as the players' expanding regional footprints, are projected to propel the market growth in the region.
Competitive Landscape
Some of the major competitors competing in the market are Bayer AG; Pfizer Inc.; Bristol-Myers Squibb; Alizyme PLC; GlaxoSmithKline PLC; Novo Nordisk AS; F Hoffmann-La Roche AG; Rhythm Pharmaceuticals; Shionogi USA; Vivus; and Norgine Pharmaceuticals Ltd. These major players are trying to expand their businesses in developing regions to increase their market share. Furthermore, companies are adopting marketing strategies such as new product development, and mergers & acquisitions, partnership, and collaboration.
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