Global Anti-obesity Drugs Market 2018-2022
About this market
The research on drugs that target obesity and type 2 diabetes mellitus to gain traction in the market. The global epidemic obesity and type 2 diabetes is increasing. This demands for increasing focus on the drugs that can control obesity and diabetes. Technavio’s analysts have predicted that the anti-obesity drugs market will register a CAGR of almost 8% by 2023.
Global increase in both incidence and prevalence of obesity
The prevalence and incidence rate of obesity is very high because of the limited efficacy of currently available drugs. The prevalence of obesity remains the highest in the US over the past two decades. Thus, the shoot in the rates of obesity across the world offers huge opportunities for drug manufacturing vendors to manufacture innovative and highly effective drugs.
Limited reimbursement for anti-obesity drugs
Although US is the major market for anti-obesity drugs, the challenges associated with the reimbursement of these drugs is more in the US. The bariatric surgery can recover weight related issues and is life-saving, but the concern for financial burden remains. People are unwilling to pay for this surgery as they believe that obesity is a cosmetic or lifestyle issue, which led player limit coverage.
For the detailed list of factors that will drive and challenge the growth of the anti-obesity drugs market during the 2018-2022, view our report.
The market appears to be concentrated and with the presence of few companies including Eisai and Novo Nordisk the competitive environment is quite intense. Factors such as the increase in childhood obesity incidence and the use of implantable neuroregulatory devices for treating obesity, will provide considerable growth opportunities to anti-obesity drugs manufactures. Eisai, Novo Nordisk, and Vivus are some of the major companies covered in this report.
‘With the presence of a considerable number of companies, this market appears to be fragmented. This market to witness the presence of a few international and regional anti-obesity drug companies who offer obesity treatment drugs for mechanism such as centrally-acting and peripherally-acting anti-obesity drugs.’
Technavio Announces the Publication of its Research Report – Global Anti-obesity Drugs Market 2018-2022
Technavio recognizes the following companies as the key players in the global anti-obesity drugs market: Eisai, Novo Nordisk, and Vivus.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the research on drugs that target obesity and type 2 diabetes mellitus.”
According to the report, one of the major drivers for this market is the Global increase in both incidence and prevalence of obesity.
Further, the report states that one of the major factors hindering the growth of this market is the Limited reimbursement for anti-obesity drugs.
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