Pune, India, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Fortune Business Insights said the global Anti-obesity Drugs Market size was valued at USD 2.82 billion in 2022. The market is projected to grow from USD 4.51 billion in 2023 to USD 22.85 billion by 2030, exhibiting a CAGR of 26.1% during the forecast period.
The escalating prevalence of chronic illnesses is propelling the market's favourable expansion rate. These insights have been furnished by Fortune Business Insights™ within a report entitled "Anti-Obesity Drugs Market, 2023-2030."
Request a Free Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/anti-obesity-drugs-market-104783
Key Industry Development:
November 2021: Novo Nordisk proposed a favourable opinion and recommended suitable ways for adults to control obesity problems.
Key Takeaways:
- As per the Centers for Disease Control and Prevention (CDC)'s 2021 projection, the United States witnesses over 650,000 cases of obesity-related cancers annually.
- An article released by the WHO in March 2022 declared that the global count of obese individuals has exceeded 1 billion.
- In 2022, the market size for North America was assessed at USD 1.91 billion.
- The United Nations projects that the expenses associated with obesity and overweight across all age groups are estimated to reach USD 800 billion for the WHO European region by 2035
Discover the Leading Players Featured in the Report:
Novo Nordisk A/S (Denmark),GlaxoSmithKline plc (U.K.),VIVUS LLC. (U.S.),Currax Pharmaceuticals LLC (U.S.),F. Hoffmann-La Roche Ltd (Switzerland),Pfizer Inc. (U.S.),Sandoz International GmbH (Novartis AG) (Germany),Boehringer Ingelheim International GmbH (Germany)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 26.1% |
| 2030 Value Projection | USD 22.85 billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 4.51 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 130 |
| Segments Covered | By Type, Distribution Channel, and Region |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/anti-obesity-drugs-market-104783
Driving factor:
Rising Chronic and Debilitating Problems to Augment Product Demand
The significant increase in the prevalence of obesity has resulted in a considerable number of patients experiencing chronic and incapacitating issues. As a result, there has been a substantial rise in the demand for the product. An additional factor contributing to the product's heightened demand is the increasing awareness of unhealthy diets across all age groups. However, the growth of the anti-obesity drugs market might be hindered by rising R&D costs and restricted revenue expansion.
Segmentation:
Increasing Investment in R&D Initiatives Drives the Prescription Drugs Segment
Categorized by type, the worldwide market is segmented into over-the-counter (OTC) drugs and prescription drugs. The dominance of the prescription drugs segment is expected, attributed to the rising adoption of these products, driven by heightened investment in research and development endeavors to introduce more efficacious treatments.
The rising Adoption of Smart Diagnostic Platforms Drives the Retail and Online Pharmacy Segment
Regarding distribution channels, the market is segmented into retail and online pharmacies, as well as hospital pharmacies. The retail and online pharmacy segment is poised for growth, driven by the increasing utilization of e-pharmacy platforms.
Segments:
By Type
- Prescription Drugs
- OTC Drugs
By Distribution Channel
- Hospital Pharmacy
- Retail and Online Pharmacy
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Quick Buy – https://www.fortunebusinessinsights.com/checkout-page/104783
Regional insights:
The anti-obesity drugs market share was predominantly held by North America and is foreseen to uphold its prominence due to increased healthcare spending aimed at raising awareness about chronic diseases. Additionally, the product's demand has escalated due to the substantial prevalence of obesity within the population.
In contrast, the Middle East & Africa region is predicted to experience subdued growth throughout the forecast period due to limited awareness regarding such products and comparatively lower healthcare expenditure per individual.
On a different note, Europe is anticipated to demonstrate noteworthy growth, driven by rising investments in digital medical devices across the region, aimed at enriching the patient experience.
Competitive Landscape
Prominent companies, including Novartis AG, VIVUS LLC., and Currax, are expected to allocate resources towards research and development endeavors as well as technological advancements, in order to enhance their foothold in the market. As investments in cutting-edge innovations increase, the market is characterized by consolidation, featuring a select number of key players, all contributing to an improved healthcare infrastructure.
FAQs
How big is the Anti-obesity Drugs Market?
Anti-obesity Drugs Market size was USD 4.51 billion in 2023.
How fast is the Anti-obesity Drugs Market growing?
The Anti-obesity Drugs Market will exhibit a CAGR of 26.1% during the forecast period, 2023-2030
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/anti-obesity-drugs-market-104783
Related Links:
Diabetes Drugs Market Size, Share, Growth Industry Report
Europe Diet Pills Market Share, Size, Demand, and Forecast
Prescription Drugs Market Size, Share, Growth Industry Report
Over The Counter (OTC) Drugs Market Share, Size, Demand, and Forecast
Anticoagulants Market Share, Size, Demand, and Forecast
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
Pune - 411045, Maharashtra, India.
Phone:
US:+1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
