Market Trends of Anti-obesity Drugs Industry
The Prescription Drugs Segment is Expected to Exhibit a Faster Growth Rate Over the Forecast Period
By drug type, the prescription drug segment is expected to hold a significant market share. During the pandemic, different companies looked into new classes of medicines that help people lose weight and control diabetes as a possible way to fight the pandemic disease since COVID-19 had serious effects on the obese population. In June 2021, Novo Nordisk's weight-management drug received FDA approval. Such research and development activities are expected to propel the demand for prescription drugs. Moreover, the rising intake of junk foods and fast foods is resulting in declining health among the population worldwide, leading to an increase in the prevalence of obesity, especially in some developed parts of the world. For instance, according to the Eurostat report in July 2021, more than half (53%) were overweight (36% pre-obese and 17% obese) in Europe. Furthermore, for people aged 75 or over, the older the age group, the higher the share of overweight people: the lowest share was recorded among those aged 18 to 24 (25%), while those aged 65 to 74 had the highest share (66%). In June 2020, China Medical System Holdings signed a USD 400 million-plus agreement for Chinese commercialization rights to US biotech company Gelesis Inc.'s prescription obesity management product, Plenty. All these developments by the players, coupled with increasing awareness of prescription medicine, are anticipated to boost the growth of the prescription drugs segment.
Because of this, the above factors are likely to drive segment growth in the market over the next few years.
North America is Expected to Dominate the Market over the Forecast Period
North America is expected to dominate the global anti-obesity drugs market. The primary factors driving the growth of the market studied are the increase in the obese population and high healthcare spending. According to an article published by SingleCare Administrators, in February 2022, 1 out of every 3 U.S. adults is obese. Non-Hispanic black women experience the highest rates of obesity in America at 59%. Obesity rates are higher for Hispanic, Mexican American, and non-Hispanic black populations than for Caucasians. The South and the Midwest have the highest obesity prevalence. All U.S. states and territories have an obesity rate of at least 20%.
The high obesity rate has always attracted key players to make developments in the region. For instance, in 2020, Kintai Therapeutics, a US-headquartered company, announced that it was working across therapeutic areas and is beginning IND-enabling studies for its first potential therapeutic for treating obesity. The first drug candidate is KTX-0200, which has demonstrated sustained weight loss and improvements in other markers of health in animal models. The launch of these pipeline products and the increasing geographic footprints of the players are expected to propel the market growth in this region.
