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Antiobesity Global Market Report 2021: COVID 19 Impact and Recovery to 2030
Major players in the anti-obesity drugs market are F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Boehringer Ingelheim GmbH, and Pfizer Inc. The global antiobesity market is expected to grow from $1.
New York, May 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Antiobesity Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067929/?utm_source=GNW
46 billion in 2020 to $2.4 billion in 2021 at a compound annual growth rate (CAGR) of 64.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5.42 billion in 2025 at a CAGR of 22.6%.
The anti-obesity drugs market consists of sales of anti-obesity drugs and related services. This industry includes establishments that produce pharmacological agents that reduce or control overweight.
Obesity is a major health problem worldwide which is caused from leading a sedentary lifestyle and consumption of unhealthy food.Though various anti-obesity drugs have been approved and are available in the USA, European Union, Australia, and Japan to treat obesity and overweight.
It has been observed that these drugs have various adverse effects on patients undergoing treatment for obesity.Adverse effects include low blood pressure and blood glucose, incontinence, insomnia, nausea, diarrhea and others.
For instance, Sibutramine and its combination drugs sold under various brands was recalled in various countries due to various side effects including heart attack in consumers. These factors restraint the growth of anti-obesity drugs market.
Pharmaceutical industry is witnessing an increase in the number of mergers and acquisition among companies developing drugs for metabolic disorders such as obesity, diabetes and others.This is a strategy of pharmaceutical companies to strengthen their drug portfolio in metabolic diseases and launch safe and effective drugs in the market.
For instance, in 2018, Evotec AG and Novo Nordisk entered into a strategic alliance to be able to discover and develop drug molecules to treat metabolic disorders including obesity, diabetes and other associated disorders.
Obesity is a major public health concern globally.Globally, prevalence rate of obesity is increasing every year.
According to WHO, more than 1.9 billion adults over the age of 18 years were overweight of which over 650 million were obese and 38 million children under the age of 5 were overweight or obese in 2019. This can be attributed to increased consumption of processed and unhealthy food, lack of physical activity and lack of awareness on the risks of obesity. As a result, the demand for anti-obesity drugs is bound to increase in the future thus, driving market growth.
Read the full report: https://www.reportlinker.com/p06067929/?utm_source=GNW
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