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Weight Loss Drugs Market Forecast 2024-2033: Key Insights And Growth Opportunities
Weight Loss Drugs Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $12.17 billion In 2028 At A CAGR Of 43.5% :
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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Weight Loss Drugs Market Major Segments
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
Key Driver - Rising Obesity Rates Fueling Surge in the Weight Loss Drugs Market
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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Prominent Trend - Innovative Developments In Weight Loss Drugs Market With Zepbound Approval
Major companies operating in the weight loss drug market are developing innovative products such as Zepbound (tirzepatide) injection to better serve patients. Zepbound is a once-weekly injectable dual glucose-dependent insulinotropic polypeptide (GIP) and glucagon-like peptide-1 (GLP-1) receptor agonist. For instance, in November 2023, Eli Lilly and Company, a US-based pharmaceutical company received FDA approval for tirzepatide injection (Zepbound) for chronic weight management in adults with overweight or obesity and at least 1 weight-related condition. Zepbound has the potential to be a commercially successful drug, as it is the first and only FDA-approved obesity treatment that activates both GIP and GLP-1 receptors.
Weight Loss Drugs 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.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the Weight Loss Drugs market in 2023. The regions covered in the weight loss drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Weight Loss Drugs Market Report Structure
3. Weight Loss Drugs Market Trends And Strategies
4. Weight Loss Drugs Market - Macro Economic Scenario
5. Weight Loss Drugs Market Size And Growth
…..
27. Weight Loss Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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