Global Weight Loss Therapeutics Market - 2023-2030

Global Weight Loss Therapeutics Market - 2023-2030

The Global Weight Loss Therapeutics Market reached US$ 2,798.0 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 14,978.1 million by 2030. The global weight loss therapeutics market is expected to exhibit a CAGR of 24.3% during the forecast period (2023-2030).

The weight loss therapeutics market scope comprises approved drugs such as Liraglutide (Saxenda), Naltrexone-Bupropion (Contrave), Phentermine-Topiramate (Qsymia), Semaglutide (Wegovy) and Orlistat (Xenical, Alli) and others, which has increased the weight loss therapeutics market share.

The increasing prevalence of cardiovascular disorders and the growing research and development for novel drugs are driving up demand for weight loss therapeutics market trends. The global market for weight loss therapeutics is expanding as a result of factors including the increasing advances in therapeutics and their upcoming medical approvals across countries are also creating a positive outlook for the weight loss therapeutics market growth.

Market Dynamics

An Increase in the Incidence of Chronic Disorders Drives the Growth of the Weight Loss Therapeutics Market.

Because it is linked to poor mental wellness outcomes and a decreased quality of life, obesity is a severe health problem. Additionally, it has links to various types of cancer, heart disease, diabetes, and other major killers in the US and around the world. One is more prone to have high cholesterol and blood pressure if they are overweight. These two disorders increase the risk of developing heart disease or stroke.

The likelihood of having heart disease or a stroke can be decreased by losing a small amount of weight. Eight out of ten individuals with type 2 diabetes are obese or overweight. Eventually, high blood sugar causes other health issues such as nerve damage, vision problems, renal disease, heart disease, and stroke. Hence, the growing number of chronic disorders is driving the weight loss therapeutics market.

The Change in Food Habits and Lifestyle Creates Lucrative Opportunities for Manufacturers

Due to advancing technologies and changes in lifestyle brought on by a changing global environment, there is a growing market opportunity for weight loss therapies. Another factor driving the weight loss treatments market is the increasing prevalence of numerous illnesses among adults, such as diabetes and obesity. The rising rates of obesity and overweight in Australia are a result of a global trend.

Today, up to 75% of men, over 50% of women, and about 25% of kids and teenagers are considered overweight or obese. The environment and evolving lifestyles undoubtedly have a big impact now that high-energy meals are widely accessible and physical activity is no longer required. As an outcome, obesity and the health issues it causes have unfortunately become all too frequent in Australians.

Side Effects Associated with Weightloss Drugs Will Hamper the Growth of the Market

For optimal results, weight reduction drugs are used with a low-calorie diet and an exercise program that has been approved by a doctor. However, unless diet and exercise are continued, people may gain back part of the weight they lost after they stop using weight reduction medications.

Some patients find that intensive behavioral therapy is insufficient to help them lose weight. They also struggle with additional concerns that are related to their weight. These can include hormonal issues or weight issue that has genetic roots. Hence these above mentioned factors are limiting the weight loss therapeutics market’s growth.

COVID-19 Impact Analysis

The financial health of companies across all industries has been impacted by the COVID-19 pandemic and lockdown in numerous nations throughout the world. Therefore, for the period of the COVID-19 public health emergency, the U.S. Food and Drug Administration (FDA) issued guidelines that include general considerations to aid sponsors and researchers, ensuring the safety of trial participants, adhering to good clinical practice (GCP), and minimizing risks to trial integrity.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine conflict is estimated to have a low impact on the global weight loss therapeutics market, owing to the low number of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global weight loss therapeutics market growth over the forecast period.

Segment Analysis

The global weight loss therapeutics market is segmented based on approved drugs, distribution channel and region.

Liraglutide (Saxenda) from the Approved Drugs Segment Accounts for Approximately 32.3% of the Market Share

Liraglutide is beneficial in causing and maintaining weight loss in a population of obese people, including those with type 2 diabetes, hypertension, dyslipidemia, and obstructive sleep apnea. Liraglutide is a prescription anti-diabetic drug used for the treatment of obesity, type 2 diabetes, and persistent weight management. It is marketed under the brand name Victoza among others.

The U.S. FDA has approved an additional indication for Saxenda (liraglutide) in juvenile patients aged 12 and older who are obese, as determined by a specified body mass index (BMI), for the purpose of managing chronic weight. Saxenda is an adjuvant (extra therapy) to a low-calorie diet and increased physical exercise. Liraglutide helps patients with obesity lose weight and keep it off. Improved glycemic control is a special benefit provided by the medication.

Geographical Analysis

North America Accounted for Approximately 42.3% of the Market Share Owing to the Strong Presence of Major Players And Increasing Technological Advancements

Manufacturers have chances to expand their operations in this region because of the rising demand for weight loss therapeutics for advancements in North America. The area has many producers and suppliers, and its rapid economic development has raised the industrial production of weight loss therapeutics, which has increased the demand.

North America has a large number of producers and suppliers, and as a result of the swift economic development of the area, industrial production has increased, fueling the demand for weight loss therapeutics.

Rising new product types or applications will drive market growth. Growth is also fueled by rising technological advancements, regulatory approvals and novel product launches. Researchers are becoming more aware of various kinds of diagnostic approaches for cancer or various other disorders, leading to the expansion of the market in this region. These factors show the dominance of North America.

Competitive Landscape

The major global players in the weight loss therapeutics market include F Hoffmann-la Roche Ltd, Currax Pharmaceuticals LLC, Viking Therapeutics, Pfizer Inc., Eli Lilly and Company, Altimmune, VIVUS LLC, Rhythm Pharmaceuticals, Amgen Inc. and Zealand Pharma A/S among others.

Why Purchase the Report?
• To visualize the global weight loss therapeutics market segmentation based on approved drugs, distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of weight loss therapeutics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global weight loss therapeutics market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies