Dublin, April 24, 2024 (GLOBE NEWSWIRE) — The “Weight Loss Drugs Global Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
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 observed in the historical period can be attributed to several factors, including the increasing rates of obesity, changes in lifestyle, heightened awareness and education about weight-related issues, early diagnosis of medical conditions, and a general rise in healthcare expenditure. These factors collectively contributed to a greater demand for weight loss drugs as individuals sought solutions to address and manage weight-related concerns during the historical period.
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 anticipated growth in the forecast period can be attributed to factors such as the increasing geriatric population, the influence of social media, trends in fitness and wellness, cultural perceptions of beauty, and continued investments by the pharmaceutical industry. Key trends expected in the forecast period include advancements in technology, a focus on non-prescription solutions, the emergence of personalized medicine, the exploration of combination therapies, ongoing product innovation, and an emphasis on post-market surveillance. These trends suggest a dynamic landscape in the weight loss drug industry, with a focus on evolving strategies and solutions to meet diverse needs and preferences.
The anticipated increase in obesity rates is expected to drive the growth of the weight loss drugs market. In September 2023, the Centers for Disease Control and Prevention reported that adult obesity rates exceeded 35% in 19 states in 2021 and 22 states in 2022, with prevalence at or above 35% in 2022. Additionally, the World Obesity Federation estimated that over 4 billion people are expected to be obese by 2035. The rising obesity rates are a key driver for the growth of the weight loss drugs market.
Major companies in the weight loss drug market are focusing on the development of innovative products to better serve patients. One such example is Zepbound (tirzepatide) injection, a once-weekly injectable dual glucose-dependent insulinotropic polypeptide (GIP) and glucagon-such as peptide-1 (GLP-1) receptor agonist. 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 one weight-related condition. Zepbound stands out as the first and only FDA-approved obesity treatment that activates both GIP and GLP-1 receptors, showing potential for commercial success.
In December 2023, Roche Holding AG, a Switzerland-based healthcare company, successfully acquired Carmot Therapeutics Inc. for $2.7 billion. This strategic acquisition granted Roche access to two obesity drug candidates, including an injectable ready for phase 2 clinical trials and a daily pill version in phase 1 trials. The acquisition aimed to strengthen Roche’s position in the competitive and growing obesity drug market. Carmot Therapeutics Inc., a US-based clinical-stage biotechnology company, specializes in the discovery and development of disease-modifying therapies for obesity and diabetes.
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 countries covered in the weight loss drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Scope
Markets Covered:
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 Companies Mentioned: Pfizer Inc.; Roche; Merck & Co.; AbbVie Inc.; Novartis AG
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $2.87 Billion |
| Forecasted Market Value (USD) by 2028 | $12.17 Billion |
| Compound Annual Growth Rate | 43.5% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/g05u0q
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- Global Weight Loss Drugs Market
