Weight Loss And Obesity Management Market Fuel Growth Of Strategies By Major Players: Novo Nordisk A/S, Takeda Pharmaceutical Company Ltd, Eisai Co., Ltd., F. Hoffmann-La Roche Ltd

Manufacturers are focusing on strengthening their market position through strategic mergers, acquisitions, and collaborations. For instance, in October 2018, Eisai Co., Ltd. entered an agreement with Eurofarma Laboratories S.A. to grant exclusive development and marketing rights for its anti-obesity agent, lorcaserin hydrochloride, in 17 countries in Latin America and the Caribbean, excluding Brazil.

Increasing prevalence of obesity in developed and emerging economies of the world is projected to propel the growth of the market during the forecasted period. For instance, according to reports published by the World Federation of Obesity, roughly 27.4 million children in India will be obese by 2030. This rapid increase in childhood obesity in India is expected to increase demand for weight loss and obesity management techniques during the forecast period.

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Furthermore, increasing research and development, and adoption of strategies such as collaborations and development of novel products by market players to expand their geographical footprint is expected to drive growth of the weight loss and obesity management market. For instance, in July 2018, Eisai Co., Ltd. entered an agreement to grant exclusive development and marketing rights to CY Biotech for its anti-obesity agent lorcaserin hydrochloride (lorcaserin) in China.

Furthermore, factors such as limited awareness in lower income countries and high cost of weight loss and obesity management products & services is expected to hinder the growth of the market during the forecast period.

Increasing incidence of obesity in developed and developing economies of the world is expected to assist growth of the weight loss and obesity management market during the forecast period. For instance, according to the WHO reports published in 2018, around 35.8 million disabilities worldwide are caused due to obesity. Furthermore, increasing research and development, and adoption of strategies such as collaborations and development of novel products by market players to expand their geographical footprint is expected to drive growth of the weight loss and obesity management market.

Obesity is defined by excessive body fat and higher body mass index. The average BMI index for obesity is above 30 (obese). Obesity is one of the most prevalent disease conditions across the world, and it is prevalent in developed, emerging, and undeveloped regions.

Increasing incidence of obesity is expected to drive growth of the market during the forecast period. According to World Health Organization (WHO) reports published in 2018, the number of obese individual has tripled since 1975 and nearly 41 million children around the world are obese.

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Increasing strategic partnerships, and research by key players to enhance their product portfolio are expected to drive growth of the global weight loss and obesity management market over the forecast period. For instance, in May 2019, VIVUS, Inc., a biopharmaceutical company, announced the commencement of phase IV safety and efficacy Qsymia for weight management in obese patients.

Key players in the market are focused on adopting strategies such as acquisitions to expand their product portfolio and geographical presence in the global weight loss and obesity management market. For instance, on June 2019, NovoFit, a global distributor for fitness equipment, entered a strategic partnership with Amer Sports’ leading fitness brand, Precor for product distributorship in Australia. The partnership is projected to increase market positioning of NovaFit and Amer Sports in Australia.

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