Obesity Management Market Demand to Grow over US$ 1,078.9 by 2027
VALLEY COTTAGE, N.Y. –High costs involved in the research & development (R&D) of obesity drugs, coupled with limited financial support, are collectively a great challenge for adoption of obesity management solutions. Additionally, long gestation time needed for R&D activities, and the inclusion of clinical trials required to test these drugs hikes the expenditure significantly. Considering this scenario, manufacturers are being cautious while seeking better return on investments. In the long run, risks and limitations posed by the high development costs of obesity drugs are likely to impede the growth of the global obesity management market.
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Future Market Insights’ latest publication estimates that the global market for obesity management will showcase an average growth during the forecast period, 2017-2027. In this period, the market is estimated to grow from US$ 641.6 Mn in 2016 to US$ 1,078.9 by 2027-end, representing a value CAGR of 4.9%. Between 2017 and 2027, the global obesity management market is poised to witness an incremental $ opportunity of over US$ 400 Mn.
In addition the high costs for developing obesity management drugs, the market is also expected to witness restraints from poor healthcare infrastructure in emerging markets. Stringent laws imposed upon drug manufacturers are also impacting the market’s growth. These laws are becoming more ambiguous, resulting into a slow-down in drug production. Moreover, studies revealing side effects of obesity management drugs are also causing major disturbance among regulatory bodies and manufacturers. GlaxoSmithKline plc., VIVUS, Inc., Novo Nordisk A/S, Arena Pharmaceuticals, Inc., F. Hoffmann La Roche Ltd., and Orexigen, Therapeutics, Inc. are companies profiled in the report as leading participants of global obesity management market.
A regional analysis of global obesity management market, compiled in the report, projects that North America’s share on global revenues will surpass 33% towards the end of 2027. North America is anticipated to emerge as the largest market for obesity management in the world. Western Europe will also be at the forefront, bringing in an estimated US$ 222 Mn in revenues by 2027-end. Across different regions in the world, a majority of obesity management drugs will be distributed through hospital pharmacies. With more than 50% share in global revenues, hospital pharmacies will remain the largest distribution channel for obesity management drugs throughout the forecast period.
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In terms of surgery, the global demand for obesity management drugs is primarily concentrated towards treatments namely, gastric bypass surgery and gastric sleeve surgery. In addition to this, the report also projects that over one-third of global obesity management revenues will be accounted by global sales of liraglutide drugs. Demand for phentermine and topiramate drugs will also gain traction, registering revenue growth at 7% CAGR. Nonetheless, fastest revenue growth will be recorded by global sales of bupropion and naltrexone drugs, revenues from which will surpass US$ 100 Mn by end of 2027.
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