Market Trends of Ozempic Industry
Rising obesity and diabetes prevalence globally is likely to drive the market over forecast period
The diabetes population globally is expected to rise by 1.9% during the forecast period.
The major factors attributing to the growth of the market studied are an increase in obesity among people and a rising prevalence rate of Type 2 diabetes and heart diseases. People with more fat in their bodies are highly likely to be affected by diabetes. Hence, such patients are likely to take certain measures to prevent obesity with anti-obesity medications such as Ozempic. For instance, as per the World Obesity Atlas 2023, the estimates for global levels of overweight and obesity (BMI ≥25kg/m²) suggest that over 4 billion people may be affected by 2035. The prevalence of obesity (BMI ≥30kg/m²) alone is anticipated to rise to 24% of the population over the same period, affecting nearly 2 billion adults, children, and adolescents by 2035.
Additionally, according to the World Health Organization (WHO) May 2022 report on the European region, in the WHO European Region, over 60% of adults and 29% of boys and 27% of girls who are children are overweight or obese and also, as per the same report, overweight and obesity rank fourth among the risk factors for non-communicable diseases in the region, after high blood pressure, unhealthy eating, and cigarette use. Furthermore, according to the latest International Diabetes Federation report, it is estimated that the number of adults in the age group of 20-79 years across the world is projected to increase to 643 million by 2030. Hence, owing to the high burden of obesity and the increasing prevalence of risk factors for obesity are expected to fuel the market growth over the forecast period.
In 2022, the WHO Global Diabetes Compact outlined five diabetes targets to reach by 2030, focused on addressing metabolic risks, access to medication, and diagnosis. The outlook for a healthy future is further marked by sustained progress in strategies designed to remediate diabetes through control of calorie intake and physical activity or medication. Therefore, due to increased prevalence and the factors above, the studied market is anticipated to witness growth over the analysis period.
North America held the highest market share in the current year
The North American region held the highest market share in the current year.
In the North American region, the prevalence of diabetes has increased dramatically during the last two decades, a fact driven by the increased prevalence of obesity and lifestyle changes owing to less physical activity, unhealthy food habits, and other lifestyle factors.
The American Diabetes Association (ADA), the Endocrine Society, the American College of Physicians, the American Academy of Paediatrics, the Society of General Internal Medicine, and the National Academy of Medicine published statements and issued calls to action to address social determinants of health at the individual, organizational, and policy levels. ADA also published a scientific review describing the associations between SDOH and diabetes risk and outcomes, focusing on socioeconomic status, health literacy, the food environment, food insecurity, and neighborhood and physical environments, among other topics.
The Centers for Disease Control and Prevention (CDC) National Diabetes Statistics Report 2022 estimated that more than 130 million adults are living with diabetes or prediabetes in the United States. Type-2 diabetes is more common, and diabetes is more consequential among communities of color, those who live in rural areas, and those with less education, lower incomes, and lower health literacy.
Ozempic is not approved for weight loss specifically; the FDA greenlit them for type-2 diabetes. However, doctors commonly use this off-label for weight loss. Currently, Medicare does not cover anti-obesity drugs. However, the bipartisan Treat and Reduce Obesity Act introduced in Congress in the current year would expand Medicare Part D to provide coverage of approved medications for the treatment of obesity. If the bill is signed into law, it could open access to these drugs, not just for Medicare enrollees but also for people with other types of health insurance.
Therefore, the studied market is anticipated to grow over the analysis period due to rising prevalence and the factors above.
