Press release
Weight Loss Drugs Market: Competitive Landscape, SWOT Analysis, Opportunities And Challenges, Growth By 2033
Weight Loss Drugs Market
The Business Research Company presents an extensive market research report on the Weight Loss Drugs Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The weight loss drugs market size has grown exponentially in recent years. It will grow from $1.94 billion in 2023 to $2.87 billion in 2024 at a compound annual growth rate (CAGR) of 47.8%. The growth in the historic period can be attributed to increasing obesity rates, lifestyle changes, awareness and education, early diagnosis of medical conditions, rising healthcare expenditure.
The weight loss drugs market size is expected to see exponential growth in the next few years. It will grow to $12.17 billion in 2028 at a compound annual growth rate (CAGR) of 43.5%. The growth in the forecast period can be attributed to increasing geriatric population, social media influence, fitness and wellness trends, cultural perception of beauty, pharmaceutical industry investments. Major trends in the forecast period include technological advancements, focus on non-prescription solutions, personalized medicine, combination therapies, product innovation, post-market surveillance.
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Key Market Players:
Major companies operating in the weight loss drugs market report are Pfizer Inc., Roche, Merck & Co., AbbVie Inc., Novartis AG, Bristol Myers Squibb, Sanofi S.A., AstraZeneca plc, LG Chem, GlaxoSmithKline, Takeda Pharmaceutical Company, Eli Lilly and Company, Bayer AG, Amgen Inc., Boehringer Ingelheim group, Novo Nordisk A/S, Merck KGaA, Teva Pharmaceutical Industries Ltd., Hisun Pharmaceutical, Taj Pharmaceuticals Ltd, Zhongshan Pharmaceutical Co. Ltd., Dm Pharma, Lunan Pharmaceutical Group Corporation, Wolfson Berg Ltd., Swiss Research Labs Ltd.
Market Drivers:
Increasing obesity rates is expected to propel the growth of the weight loss drugs market going forward. Obesity rate refers to the proportion of individuals in a population who have a body mass index (BMI) equal to or greater than 30. Weight loss drugs are medications used in obesity to help individuals achieve weight loss by either reducing appetite, increasing feelings of fullness, or interfering with the absorption of nutrients For instance, in September 2023, according to the Centers for Disease Control and Prevention, a US-based government organization, adult obesity rates exceeded 35% in 19 states in 2021 and 22 states in 2022. Further, adult obesity prevalence was at or above 35% in 2022. Further, in March 2023, according to the World Obesity Federation, a UK-based not-for-profit organization, it is estimated that over 4 billion people are expected to be obese by 2035. Therefore, the rise in the increasing obesity rates is driving the growth of the weight loss drugs market.
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https://www.thebusinessresearchcompany.com/report/weight-loss-drugs-global-market-report
The weight loss drugs market covered in this report is segmented -
1) By Type: Liquid, Tablets, Capsules
2) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
3) By Application: Weight-Reducing Aid, Fat Absorption Inhibitors, Metabolic Boosters
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