Anti-Obesity Prescription Drugs Market to Cross US$ 1,000 Million by 2026, Says TMR
ALBANY, New York, June 18, 2019 /PRNewswire/ -- According to TMR's projections, the global anti-obesity prescription drugs market is likely to rise at a 4.80% CAGR over the forecast duration from 2017 to 2026. The market is prognosticated to be worth US$1000 mn by 2026-end.
Geography-wise, North America is projected to emerge as a leading region in the global anti-obesity drugs market during the forecast period. The awareness of obesity among the population and the hazards associated with the health situation have resulted in the anti-obesity prescription drugs market depicting flourished growth in the region over the years.
Changing Lifestyles to Propel Anti-Obesity Drugs Market
Studies by the Disease Control & Prevention Centers show that an impressive 68.8 percent of the US population is overweight or obese. The rising incidence of the condition is followed by growing awareness of the same. Due to the increasing awareness of obesity the concern that customers switch to anti-obesity drugs is rising at a notable pace.
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As a result, the global market for anti-obesity prescription drugs has expanded considerably. As the increase in obesity rates worldwide is the evident driving factor, the powerful pipeline for anti-obesity drugs also propels this industry. In addition, the development of the anti-obesity industry has contributed significantly in the form of advanced medical research by drug manufacturers, medical universities and institutions, and government agencies. These factors are expected to spur the development of the global anti-obesity prescription drugs market in the coming years.
Low Threat Therapeutic Options to Emerge as Key Market Trends
A new technique of skin patch delivery that enables for the administration of anti-obesity drugs with low risk of side effects. Further, the emergence of nano soy-phytosome-based thermogels as the topical formulations of anti-obesity is a key innovation in the anti-obesity prescription drugs market. Also, herbal supplements and gene mutation in relation to obesity are the current trend in the anti-obesity prescription drugs market. These trends are expected to bolster opportunities for the growth of vendors in the global anti-obesity drugs market.
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However, the growth in this market is limited by the existence of a few factors. The rising trend of organic and non-fat products is anticipated to hinder growth to some degree. In addition, high costs for the research, development, and fabrication of anti-obesity prescription medicines, an increase in herbal weight loss products, ill side-effects and an increased acceptance of alternative choices including gymnasiums, fitness centers, etc., may crimp the growth of the anti-obesity prescription drugs market to some extent.
The global anti-obesity prescription drugs market features fragmentation, as reported by Transparency Market Research (TMR). The increase in obesity in various areas of the globe has resulted in a growing level of rivalry between players in the market to sell anti-obesity drugs. Companies have invested strongly in the growth of weight loss and a high safety threshold for agents. This provides higher opportunities for players to be approved by regulatory bodies such as the US FDA.
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Global companies also focus on the growth and successful marketing of anti-obesity medicines, which are both clinically efficient and secure in the long term, and have the ability to produce mass revenues and achieve blockbuster status. For instance, GlaxoSmithKline recently bought the rights to retail its rival's anti-obesity medicine. The firm paid US$100.00 million along with royalties to Swiss company Roche for Xenical, their anti-obesity prescription drug. This medicine specializes in preventing the complete absorption of fat.
Another key strategy adopted by vendors in the global anti-obesity prescription drugs market is the expansion of product portfolios. In order to treat the obesity-related issues, pharma giants such as AstraZeneca, J&J, and Sanofi use low-risk medicines. This helps market players associated with diabetes to enter the global anti-obesity prescription drugs market.
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Other leading vendors in the global anti-obesity prescription drugs market include Merck & Co. Inc., Arena Pharmaceuticals Inc., Pfizer Inc., Eisai Co. Ltd., and Rhythm Pharmaceuticals.
This review is based on TMR's report titled, "Anti-Obesity Prescription Drugs Market (By Drug Class - Bupropion and Naltrexone, Orlistat, Lorcaserin, Phentermine and Topiramate, Liraglutide; Age Group - Pediatric, Adult; Distribution Channel - Hospitals Pharmacies, Retail Pharmacies, E-commerce) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026."
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