by The Anti-Obesity Drug Market comprises of drugs that helps in weight loss by reducing appetite or increasing feelings of fullness. Anti-obesity drugs work by targeting the pathways involved in fat metabolism, appetite regulation and energy balance in the body. Commonly prescribed anti-obesity drugs are Orlistat and Phentermine that reduces the absorption of fat from food and suppresses appetite respectively. With the increasing prevalence of obesity worldwide, the demand for efficacious weight management treatments has risen significantly. According to WHO, over 1.9 billion adults were overweight in the year 2016, out of which over 650 million were obese imposing health as well as economic burden.
The global Anti-Obesity Drug Market is estimated to be valued at US$ 2542 Mn in 2023 and is expected to exhibit a CAGR of 20 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends that has been observed in the anti-obesity drugs market is the rising popularity of branded generics. Anti-obesity medicines like Phentermine and Orlistat have their patent expired allowing other companies to manufacture low-cost generics. This has increased treatment accessibility and affordability for a larger consumer base. While branded drugs are priced at a premium, availability of generic options at competitive prices act as a volume driver in the anti-obesity drugs market. Furthermore, increasing awareness campaigns by healthcare organizations regarding obesity and its related complications like diabetes are encouraging more number of people to opt for doctor recommended anti-obesity pharmacological interventions rather than trying fad diets on their own.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the anti-obesity drug market is low as research and development of new drugs requires huge investment and time.
Bargaining power of buyers: The bargaining power of buyers is moderate as obesity treatments have few alternatives and customers have less transparency on prices.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key players have established supply chain and suppliers of raw material have no substitute.
Threat of new substitutes: The threat of new substitutes is moderate as alternative treatments like bariatric surgery, low calorie diets are available though not as effective as drugs.
Competitive rivalry: Competition in the anti-obesity drug market is high as major players continuously invest in R&D to develop safer and more effective drugs.
Key Takeaways
The Global Anti-Obesity Drug Market Size is expected to witness high growth. The global Anti-Obesity Drug Market is estimated to be valued at US$ 2542 Mn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030.
North America currently dominates the market owing to high obesity rates and increasing awareness. The increasing prevalence of obesity owing to sedentary lifestyle and junk food consumption is a major factor propelling the demand. Europe is also one of the major markets for anti-obesity drugs. The increasing focus on preventive healthcare and availability of reimbursement are supporting market growth in the region. However, Asia Pacific is expected to witness the fastest growth during the forecast period with China and India becoming key markets. This can be attributed to growing obesity, rising healthcare expenditure and growing awareness.
Key players: Key players operating in the anti-obesity drug market are GE Healthcare, R1 RCM, Inc. (Accretive Health), Allscripts Healthcare Solutions, Inc., Kareo, Inc., Cerner Corporation, Quest Diagnostics, and Experian Information Solutions, Inc., among others. The players are focused on new product approvals and launches to strengthen their market position.
