The anti-obesity therapeutics market refers to the global market for pharmaceutical drugs and treatments used to manage or reduce obesity. This market includes a wide range of products, such as prescription medications, over-the-counter (OTC) drugs, and medical devices.
The market for anti-obesity therapeutics is driven by the high prevalence of obesity worldwide, as well as the associated health risks, including heart disease, stroke, diabetes, and certain types of cancer. The growing awareness of these risks, along with increased public health initiatives aimed at reducing obesity rates, has also contributed to the growth of this market.
The global anti-obesity therapeutics market is highly competitive and is dominated by a few major players, including Novo Nordisk, Eisai, Orexigen Therapeutics, Arena Pharmaceuticals, and Vivus. These companies invest heavily in research and development to create new and more effective drugs to combat obesity.
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Here are some key data points related to the global anti-obesity therapeutics market:
· The market is expected to grow USD 7.68 billion at a compound annual growth rate (CAGR) of 5% from 2022 to 2032.
· Prescription medications accounted for the largest share of the market in 2020, followed by OTC drugs and medical devices.
· North America dominated the market in 2020, due to high obesity rates and a strong healthcare infrastructure in the region.
· The Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by rising obesity rates in countries such as China and India.
· Some of the key players in the market include Novo Nordisk, Eisai, Orexigen Therapeutics, Arena Pharmaceuticals, and Vivus.
· The market is highly competitive, with companies investing heavily in research and development to create new and more effective drugs to combat obesity.
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The following are some of the key factors driving the growth of the anti-obesity therapeutics market:
· High prevalence of obesity: The increasing prevalence of obesity worldwide is one of the major factors driving the growth of the anti-obesity therapeutics market. According to the World Health Organization (WHO), in 2016, more than 1.9 billion adults were overweight, of which over 650 million were obese.
· Associated health risks: Obesity is associated with a number of health risks, such as heart disease, stroke, and diabetes. This has led to a growing awareness of the need for weight loss and management, driving the demand for anti-obesity therapeutics.
· Increasing healthcare expenditures: The rise in healthcare expenditures, particularly in developing countries, has increased access to anti-obesity drugs and treatment options, driving the growth of the market.
· Rising demand for weight loss treatments: There is a growing demand for weight loss treatments, both from individuals seeking to lose weight for personal reasons and from healthcare providers seeking to manage obesity-related health risks.
· Technological advancements in drug development and medical devices: Advances in drug development and medical devices have led to the development of new and more effective anti-obesity therapeutics, driving market growth.
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