Medi-Tech Insights: An increasing prevalence of overweight and obese population, adoption of sedentary lifestyle globally, high investments in R&D by major market players to develop innovative pipeline, growing awareness of weight management programs and rising disposable income in developing economies are some of the key factors driving the global obesity drugs market.
Global Obesity Drugs Market (2022-2027)
BRUSSELS, BELGIUM, Jan. 23, 2023 (GLOBE NEWSWIRE) --
Obesity and overweight are defined as accumulation of excessive or abnormal fat leading to increased risk to health, which can be measured by using body mass index (BMI) as a baseline. A BMI of over 30 is considered obese and over 25 is overweight. Obesity is a significant risk factor to a number of diseases such as diabetes, heart disease, and cancer; estimated to over 650 million obese people globally by the World Health Organization (WHO). Obesity drugs or weight loss medications help to reduce & control appetite and food cravings.
Growing Prevalence of Obese and Overweight Population to Fuel the Obesity Drugs Market Demand
Obesity is one of the leading contributors to a number of non-communicable diseases including heart disease, stroke and diabetes. World Obesity Atlas 2022 estimated the prevalence of global obese population to be 16.1% in 2025 accounting for 892 million people which will further reach 1,025 million by 2030 with a prevalence rate of 17.5% in 2030. Some of the regional obesity burden estimated by World Obesity Atlas 2022 are listed as below: -
1 in 13 men and 1 in 5 women are expected to be obese by 2030 in Africa, equating to approximately 27 million men and 74 million women by 2030. Of the total 101 million obese population, 34 million are estimated to have severe obesity (BMI ≥ 35).
In Americas, by 2030, prevalence of obesity in men is predicted to be 34.41% (1 in 3) as compared to 39.72% in women accounting for 298 million people in the region, out of which 128 million will have severe obesity.
Across the European region, the prevalence of obesity is projected to be 29.42% in men and 29.97% in women in 2030, with an estimated 102 million men and 113 million women at risk of the complications of obesity.
Development Of Innovative Drug Candidates by Key Market Players is Expected to Raise the Sales of Obesity Drugs Market
There are a number of obesity drug candidates in clinical development and key market players are constantly focusing on developing innovative medications with improved benefits. Many established market players have invested heavily in their R&D to develop novel drug molecules and capture a significant market share in this high growth market. Some of the related developments are listed below-
In September 2022, Rivus Pharmaceuticals Inc., a clinical-stage biopharmaceutical company, announced the completion of Series B financing round of $132 million. The funding is intended to advance the clinical development of HU6, a controlled metabolic accelerator (CMA) designed to address obesity, a primary driver of cardio-metabolic disease.
In August 2022, Novo Nordisk successfully completed the Phase 2 clinical trial of CagriSema in people with type 2 diabetes. CagriSema, a subcutaneous combination of semaglutide and a novel amylin analogue, cagrilintide, is administered once weekly in patients with type 2 diabetes and overweight.
In April 2022, Eli Lilly and Company's phase 3 clinical trial to evaluate the efficacy and safety of tirzepatide in adults with obesity or overweight and at least one comorbidity apart from diabetes, delivered up to 22.5% weight loss.
Irrespective of the challenges such as adverse effects associated with weight management medicines such as nausea and diarrhea and lack of combination therapy, the obesity drugs market has a high potential to grow at a healthy rate and is expected to gain further momentum in the coming years due to a strong emphasis on new product development, greater acceptance in developing countries, positive impact of social media campaigns, and decreasing pricing trend due to competition, among others.
For instance, in June 2021, the US FDA approved Novo Nordisk’s Wegovy (semaglutide) injection, a 2.4 mg once weekly treatment indicated for chronic weight management in obese or overweight adults, having at least one weight-related condition such as high blood pressure and type 2 diabetes.
Competitive Landscape Analysis: Obesity Drugs Market
The global obesity drugs market is marked by the presence of established market players such as follows: -
Novo Nordisk A/S (Denmark)
Eli Lilly and Company (US)
Amgen Inc. (US)
Boehringer Ingelheim (Germany)
Innovent Biologics, Inc. (China)
AstraZeneca plc (UK)
Pfizer Inc. (US) and others.
Explore Detailed Insights on Obesity Drugs Market Report with Table of Content @ https://meditechinsights.com/global-obesity-drugs-market/
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