Surge in Obesity Levels Worldwide to Drive Global Anti-Obesity Drugs Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) June 06, 2014 -- Follow us on LinkedIn – Obesity, though not regarded a disease by itself, is known to increase the risk of chronic health conditions, such as diabetes, hypertension, cardiovascular disorders, as well as cancer. Obesity also produces significant social costs and exerts extreme pressure on the sustainability of healthcare systems. The World Health Organization (WHO) estimates that by 2015, nearly 2.5 billion individuals worldwide would either be obese or overweight. Reports suggest that the global population of obese and overweight adults has nearly quadrupled in size to reach a little over 1 billion since the 1980s. Worldwide, the population percentage of adults with BMI > 25 is deemed to have reached approximately 33.4% from around 22.1% in the 1980s. The grim statistics, together with the corresponding rise in chronic conditions, will result in staggering economic costs, burdening fragile healthcare systems worldwide.
Despite the market potential, obesity remains a significantly unmet need in the field of pharmacology. Major obesity treatments preferred by patients include bariatric surgery, appetite suppressants, healthy diet, and exercise. Anti-obesity drugs, in comparison, have been saddled with negative publicity which substantially limited the number of prescriptions given to patients. The psychological and social stigma associated with prescribing anti-obesity drugs has until now been the market’s biggest challenge to growth. However, in the coming years, development of novel drugs with widely publicized safety profiles is expected to break the ice surrounding acceptance among healthcare professionals and patients alike. Other challenges confronted by the market include high cost of drug development, high risk of late stage drug failures, and strict approval procedures, which together have dampened R&D investments in this space. In addition, unfavorable reimbursements also remain a significant growth deterrent. However in the coming year, pharmaceutical companies and investors are expected to renew their interest in anti-obesity drug development encouraged by the potential for growth, especially for drugs with clinically proven safety, tolerance, and performance-efficacy. Concerned over the lack of pharmacological options in treating the condition, the US Congress directed the FDA to review its support for obesity treatment, resulting in the 2012 approval of two new drugs - Qsymia and Belviq.
As stated by the new research report on Anti-Obesity Drugs, the United States represents the largest market worldwide, driven by a large base of obese population. Increasing affluence, rising preference for convenience food products, as well as sedentary lifestyles are major factors responsible for the alarming rise in obesity in the country. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 10.9% over the analysis period. As home to two of the most populous nations in the world, China and India, Asia-Pacific is witnessing rapid urbanization, GDP growth, lifestyle changes, rising standards of living, and increased consumption of ready-to-eat food. Reflective of the emerging cost of economic prosperity, obesity in the region has escalated from 6.6% of the total population during the 1980s to nearly 22.5%, thus offering attractive opportunities for anti-obesity drugs.
Major players covered in the report include Arena Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc., Novo Nordisk, Orexigen Therapeutics Inc., Rhythm Pharmaceuticals, VIVUS Inc., and Zafgen Inc., among others.
The research report titled “Anti-Obesity Drugs: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, technological innovations, mergers and acquisitions, other strategic industry activities of major and niche global and regional players. The report provides market estimates and projections in US dollars for all major geographic markets, such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific, Latin America, and Rest of World.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Anti_Obesity_Drugs_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA)] is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
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