Global Obesity Drugs Market valued at $2.3 billion in 2022, is expected to Witness a Healthy Growth of 25% by 2027

Obesity and overweight are defined as gain of additional fat thus leading to a number of diseases, which can be measured by using body mass index (BMI) as a baseline. A BMI of over 30 is generally considered as obese and a BMI of over 25 is considered as overweight. Obesity is a major risk factor to various diseases such as diabetes, heart diseases, and cancer; approximately over 650 million obese patients living across the world as as projected by World Health Organization (WHO).

Rising Obese and Overweight Population to Trigger the Demand of Obesity Drugs Market

Obesity is one of the topmost contributors to a number of medical diseases such as heart diseases, stroke, cancer and diabetes. World Obesity Atlas 2022 forecasted the growth 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 healthy growth rate of 17.5% in 2030. 

Some of the regional obesity burden estimated by World Obesity Atlas 2022 are listed below:-

• 1 in every 13 men and 1 in every 5 women are expected to be obese by 2030 in Africa, equating to almost 27 million men and 74 million women by 2030. Of the total 101 million obese population, 34 million people are projected to have severe obesity (BMI ≥ 35).

• In Americas, by 2030, the growth of obesity in men is estimated to be 34.41% (1 in 3) as compared to 39.72% in women accounting for nearly 298 million people, out of which 128 million will have severe obesity.

• Across Europe, the growth of obesity is poised to be 29.42% in men and 29.97% in women in 2030, with a projected 102 million men and 113 million women at risk of obesity complications.

Development Of Innovative Drug Candidates by Top Market Companies is Poised to Lift the Sales of Obesity Drugs Market

There are multiple obesity drug candidates in clinical development and all the leading market companies are focusing on developing innovative medications with various benefits. Many key market companies have invested significantly in their R&D activities and works to develop novel drug molecules and capture a larger share in this high growth market. Some of the recent market developments are listed below-

  • In September 2022, Rivus Pharmaceuticals Inc., a clinical-stage biopharma 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 combat obesity, a primary driver of cardio-metabolic disease.
  • In August 2022, Novo Nordisk completed the Phase 2 clinical trial of CagriSema in patients with type 2 diabetes.
Irrespective of the upcoming market challenges such as severe ill-effects associated with weight management medicines such as nausea and diarrhea and shortage of combination therapy, the global obesity drugs market has a good potential to grow at a lucrative rate and is set to gain a conssistent momentum in the upcoming years due to an emphasis on new product development, wider acceptance in developing countries, tremendous impact of social media campaigns and declining pricing trend due to a healthy market competition, etc.

Competitive Landscape Analysis: Obesity Drugs Market

The global obesity drugs market is marked by the presence of key market companies such as below: -

· Novo Nordisk (Denmark)

· Eli Lilly and Company (US)

· Altimmune (US)

· Amgen Inc. (US)

· Boehringer Ingelheim (Germany)

· Innovent Biologics, Inc. (China)

· AstraZeneca plc (UK)

· Pfizer (US) and others.

Get Detailed Insights on Obesity Drugs Market Report with Table of Content (TOC) @ https://meditechinsights.com/global-obesity-drugs-market/

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