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Antiobesity Market Trends, Strategies, Size, Share And Analysis 2024-2033
Antiobesity Market Trends
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According to The Business Research Company's, The antiobesity market size has grown rapidly in recent years. It will grow from $3.38 billion in 2023 to $3.76 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increasing obesity prevalence, awareness and education, lifestyle changes, government initiatives.
The antiobesity market size is expected to see rapid growth in the next few years. It will grow to $5.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to market expansion, globalization. Major trends in the forecast period include research and development, patient-centric approaches, insurance coverage, technological advancements, digital health and telemedicine, novel drug therapies, bariatric surgery advancements, otc (over-the-counter) solutions, behavioral interventions, nutritional and weight management apps.
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Market Drivers and Trends:
Obesity is a major public health concern globally. Globally, the prevalence rate of obesity is increasing every year. For instance, in May 2022, according to the World Obesity Atlas, a UK-based obesity organization, globally, it is estimated that more than 1 billion people will be suffering from obesity by 2030. This can be attributed to increased consumption of processed and unhealthy food, lack of physical activity, and lack of awareness of the risks of obesity. As a result, the demand for anti-obesity drugs is bound to increase in the future thus, driving the market growth.
Major companies operating in the anti-obesity drugs market are focusing on innovating new products, such as Mounjaro (tirzepatide), to provide reliable services to customers. Mounjaro (tirzepatide) is used as an anti-obesity drug for the treatment of adults with obesity or overweight with weight-related comorbidities. For instance, in October 2022, Eli Lilly and Company,a US-based pharmaceutical company, launched Mounjaro (tirzepatide), approved by the Food and Drug Administration (FDA), a US-based federal agency, as a fast track designation treatment. Mounjaro (tirzepatide) is an injectable form of anti-obesity drug used to help individuals struggling with obesity achieve their weight loss goals. This is used for adults with type 2 diabetes, along with diet and exercise, to improve blood sugar (glucose).
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Major Key Players of the Market:
F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Pfizer Inc., Merck & Co. Inc., Takeda Pharmaceutical Company Limited, Eisai Co. Ltd., Novo Nordisk A/S, Zafgen Inc., Rhythm Pharmaceuticals Inc., Zydus Cadila, Norgine B.V., Vivus Inc., Arena Pharmaceuticals Inc., Orexigen Therapeutics Inc., Eli Lilly and Company, Amgen Inc., AstraZeneca PLC, Novartis International AG, Viking Therapeutics Inc., Structure Therapeutics Inc., Gelesis Inc., Sanofi S.A., Johnson & Johnson, F. Hoffmann-La Roche Ltd, Teva Pharmaceutical Industries Limited, Allergan Aesthetics, Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Cipla Ltd., Lupin Ltd., Torrent Pharmaceuticals Ltd., Cadila Healthcare Ltd., Intas Pharmaceuticals Ltd., Wockhardt Ltd., Glenmark Pharmaceuticals Ltd., Alkem Laboratories Ltd.
Antiobesity Market 2024 Key Insights:
• The antiobesity market size is expected to see rapid growth in the next few years. It will grow to $5.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
• Rising Prevalence Rate Of Obesity In The Anti-Obesity Drugs Market
• Product Innovations In The Anti-Obesity Drug Market
• North America was the largest region in the anti-obesity market in 2023
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