Pune, India, Feb. 15, 2021 (GLOBE NEWSWIRE) -- The global anti-obesity drugs market size is set to grow significantly owing to the ever-increasing prevalence of obesity among the global population, observes Fortune Business Insights™ in its report. The market size was USD 1,520.2 million in 2019 and is anticipated to reach USD 3,421.0 million by 2027, exhibiting a CAGR of 10.1% during the forecast period.
Healthcare Sector to Stumble amid COVID-19 Pandemic
The healthcare sector has been the most active ever since the COVID-19 outbreak. While the pandemic has fast-tracked the development of the industry on a global scale, it has also brought numerous adversities upon the sector. These adversities include limited infrastructure in developing countries and the lack of preparedness in case of health emergencies. Key players are focusing on eliminating such challenges. At Fortune Business Insights, we are constantly analyzing the market conditions to offer the most effective solutions at your service.
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A List of Key Manufacturers Operating In the Market:
• Novo Nordisk (Denmark, Scandinavia)
• GlaxoSmithKline (Brentford, U.K)
• Vivus Pharmaceuticals (California U.S)
• Currax Pharmaceuticals LLC (New Jersey, U.S)
• Pfizer Inc. (New York, U.S)
• F. Hoffmann-La Roche Ltd (Basel, Switzerland)
• Other Players
Presence of Prominent Enterprises to Help North America Dominate
North America is set to dominate the global anti-obesity drugs market with a value of USD 964.8 million in 2019. The presence of the majority of key players in the U.S. is anticipated to drive the demand for drugs in the region. In addition, rising instances of obesity among the population in the U.S. are compelling people to adopt weight management consulting, which is estimated to further surge the demand for anti-obesity drugs in the region. For instance, as per the Harvard Medical School, the rate of obesity has increased by more than 50% in less than 40 years.
The market in Europe is projected to showcase a positive growth during the forecast period. High investments in research for the development of therapeutically effective drugs, along with increasing awareness regarding the benefits of weight management among the population are key factors accelerating the demand for these drugs in the region.
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Industry Developments-
- In December 2020, the U.S. Food and Drug Administration (FDA) approved Saxenda, Novo Nordisk’s anti-obesity drug for the treatment of obesity in adolescents aged 12-17.
- In February 2019, Eisai Inc. announced that the U.S. Food and Drug Administration (FDA) had accepted its new supplemental drug application. This will update the labeling of BELVIQ, the company’s anti-obesity drug.
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Acquisition Strategies to Aid Key Players Expand their Product Portfolios
Prominent players operating in the global anti-obesity drugs market are focusing on various acquisition strategies in order to expand their businesses. This will also help them strengthen their portfolios. For instance, in September 2019, Currax Pharmaceutical acquired Nalpropion Pharmaceuticals, which helped the company add Contrave anti-obesity medication in its product portfolio.
Some major points from Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Type Launch
- Pipeline Analysis
- Prevalence of Obesity - By Key Countries/Region
- Impact of COVID-19 on the Global Anti-obesity Drugs Market
- Overview of Trends in the Anti-obesity Market
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Global Anti-obesity Drugs Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Prescription Drugs
- OTC Drugs
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
TOC Continued..!
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Anti-obesity Drugs Market Segments Covered in the Report
By Type
- Prescription Drugs
- OTC Drugs
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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