Global Obesity Drugs Market is set to witness a healthy CAGR of 25% by 2027 - Increasing Overweight & Obese Population is the Key Growth Factor

Obesity and overweight are defined as gain of an extra or abnormal fat leading to an increased risk to health, which can be measured by using body mass index (BMI) as a baseline. A BMI of over 30 is considered as obese and a BMI of over 25 is considered as overweight.

Obesity is a significant risk factor to a vast number of diseases such as diabetes, heart disease, and cancer; estimated to over 650 million obese people globally by the World Health Organization (WHO). Obesity drugs or weight loss medications help to reduce & control appetite and food cravings.

Growing Obese and Overweight Population to Trigger the Growth of the Obesity Drugs Market

Obesity is one of the major contributors to a vast number of non-communicable diseases such as heart diseases, stroke and diabetes. World Obesity Atlas 2022 estimated the global obese population to be 16.1% in 2025 accounting for nearly 892 million people which will further reach to 1,025 million by 2030 with a growth rate of 17.5% in 2030.

Some of the regional obesity burden as estimated by World Obesity Atlas 2022 are listed below: -
• 1 in every 13 men and 1 in every 5 women are projected to be obese by 2030 in Africa, equating to approximately 27 million men and 74 million women by 2030. Of the total 101 million obese population, 34 million are projected to have adverse obesity (BMI ≥ 35).
• In Americas, by 2030, growth of obesity in men is estimated to be 34.41% (1 in every 3) as compared to 39.72% in women accounting for nearly 298 million people in the region, out of which 128 million will have adverse obesity.
• Across the European region, the growth of obesity is projected to be 29.42% in men and 29.97% in women in 2030, with an estimated 102 million men and 113 million women at risk of obesity complications.

Development Of Advanced Drug Candidates by Leading Market Players is Projected to Raise the Sales of the Global Obesity Drugs Market

There are a vast number of obesity drug candidates in clinical development and all the leading market players are primarily focusing on developing new and advanced medications with many benefits. Many established market players have invested heavily in their R&D activities to develop novel drug molecules and capture a larger market share in this high growth market.

Some of the recent market developments are listed below:-
• In September 2022, Rivus Pharmaceuticals Inc., a clinical-stage biopharmaceutical 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 counter obesity.
• In August 2022, Novo Nordisk successfully completed the Phase 2 clinical trial of CagriSema in people with type 2 diabetes. CagriSema, a subcutaneous combination of semaglutide and a novel amylin analogue, cagrilintide, is administered once weekly in patients with type 2 diabetes and overweight.
• In April 2022, Eli Lilly and Company's phase 3 clinical trial to evaluate the efficacy and safety of tirzepatide in adults with obesity or overweight and at least one comorbidity apart from diabetes, delivered up to 22.5% weight loss.

Competitive Landscape Analysis: Obesity Drugs Market

The global obesity drugs market is marked by the presence of well-established and leading market players such as listed below: -
• Novo Nordisk A/S (Denmark)
• Eli Lilly and Company (US)
• Altimmune (US)
• Amgen Inc. (US)
• Boehringer Ingelheim (Germany)
• Innovent Biologics, Inc. (China)
• AstraZeneca plc (UK)
• Pfizer Inc. (US)

Irrespective of the upcoming challenges such as severe effects associated with weight management medicines such as nausea and diarrhea and lack of combination therapy, the obesity drugs market has a huge potential to grow at a quick rate and is poised to gain a consistent momentum in the upcoming years due to a strong focus on new product development, broader acceptance in developing countries, positive impact of social media campaigns and declining pricing trend due to competition, etc.

Explore More Detailed Insights on Obesity Drugs Market Report @ https://meditechinsights.com/global-obesity-drugs-market/

Ruta Halde
Associate, Medi-Tech Insights
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1050 Brussels, Belgium
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Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.