by Anti-obesity drugs help reduce appetite, decrease fat absorption, or increase fullness to assist with weight loss. These prescription medications may be prescribed alone or in combination with a reduced-calorie diet and regular exercise for individuals classified as obese or overweight. Common anti-obesity drugs act as appetite suppressants by stimulating brain chemicals like serotonin and norepinephrine or blocking the absorption of fat. This helps people achieve modest weight loss in the range of 3-9% of their starting body weight when combined with lifestyle changes. The global anti-obesity drug market is estimated to be valued at US$ 2542 million in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The anti-obesity drug market is expected to witness significant growth due to the rising prevalence of obesity worldwide. According to the World Health Organization, globally around 650 million adults and 340 million children and adolescents aged 5–19 years were obese in 2016. Obesity prevalence has tripled in many countries since the 1980s. This rapid rise in obesity cases is attributed to physical inactivity and consumption of energy-dense and nutrient-poor foods. Furthermore, advancements in obesity drug formulations such as controlled or sustained release to increase efficacy and reduce side effects is also expected to boost market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low barrier to entry due to low investment and capital requirements. However, established players hold strong distribution networks making it difficult for new players to gain market share.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and products from various manufacturers.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes and stringent regulations.
Threat of new substitutes: Threat of substitutes is low as branded anti-obesity drugs have well established demand and few new substitutes have entered the market.
Competitive rivalry: Market is mildly competitive due to presence of large number of players with different product segments. Players compete on the basis of pricing, innovation and customization.
Key Takeaways
The global Anti-Obesity Drug Market Growth is expected to witness high growth.
Regional analysis: Europe is expected grow at a significant rate during the forecast period. This is attributed to increasing healthcare expenditure and rising focus on weight management. Asia Pacific is estimated to witness fastest growth owing to growing obesity concerns, availability of affordable treatment options and improving healthcare infrastructure in developing countries.
Key players: Key players operating in the Anti-Obesity Drug market are 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. Players focus on new product launches and strategic collaborations with regional players to strengthen their geographical presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
