The global Anti-Obesity Drug Market is estimated to be valued at US$ 2,542.0 Mn in 2023 and is expected to exhibit a CAGR of 16.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Anti-obesity drugs help in weight loss and weight management by decreasing appetite or increasing feeling of fullness. These drugs are prescribed as part of a weight-loss treatment program that also includes changes to diet and physical activity habits. Obesity has become a major health issue worldwide due to sedentary lifestyle and unhealthy diets. Anti-obesity drugs aid in reducing obesity-related comorbid conditions like diabetes, cardiovascular diseases, and cancers.
Market key trends:
There is a rise in investments by companies in R&D of novel anti-obesity drugs. Several candidates targeting GLP-1, PCSK9, and NPC1L1 pathways are in preclinical and clinical phases of development. Advancements in drug delivery methods such as implants and injections are being evaluated to improve efficacy and safety of anti-obesity medications. Growing prevalence of obesity due to genetic predisposition and urbanization is also boosting demand for anti-obesity pharmaceuticals globally. Regulatory approvals of new treatment options and increasing health consciousness among consumers are some other important trends fueling growth of this market.
Threat of new entrants: The threat of new entrants is high given the growing demand for anti-obesity drugs and ease of entering the market. However, high R&D costs and presence of major pharmaceutical companies poses entry barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of alternative treatment options and less switching costs involved. However, demand for effective and long term treatment gives buyers some negotiating power.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the global presence of major raw material suppliers and differentiation in raw materials. Suppliers can threaten to integrate forward if not offered competitive prices.
Threat of new substitutes: Threat from substitutes is moderate as bariatric surgery and lifestyle changes are available substitutes. However, drugs offer less invasive treatment.
Competitive rivalry: Competition in the market is high among major pharmaceutical players due to potential blockbuster drugs and growth opportunities in obesity segment.
The Global Anti-Obesity Drug Market is expected to witness high growth, exhibiting 16% CAGR over the forecast period, due to increasing prevalence of obesity and growing adoption of prescription drugs.
On the regional front, North America dominated the anti-obesity drug market in 2023 and is expected to maintain its lead over the forecast period. This can be attributed to growing obesity rates, rising healthcare expenditure, and presence of major pharmaceutical companies in the region. Asia Pacific is poised to showcase the fastest growth in the market owing to rising disposable income, growing obesity-related diseases, and increasing penetration of leading players in the region.
Key players operating in the anti-obesity drug market are VIVUS Inc., Pfizer Inc., Novo Nordisk, Bayer AG, F Hoffmann-La Roche, Glaxosmithkline, Arena Pharmaceuticals, Eisai Co. Ltd., Takeda Pharmaceutical Company, and Nalpropion Pharmaceuticals Inc., among others. Major players are focused on new product launches and strategic collaborations to strengthen their market position.