Obesity or overweight has a substantial increase in the last three decades and become a global problem nowadays. It is generally calculated from the body mass index. This is associated with the people of all ages, genders and incomes. Obesity causes several other diseases such as diabetes, high cholesterol, cardiovascular diseases, osteoarthritis and chronic kidney diseases, so needs to be monitored and controlled. The problem has also increased in children and adolescents which has become a major concern. The overweight problem is associated with the increasing unhealthy lifestyle habits such as eating more junk food, high calories intake, lack of exercise, improper sleep patterns which thus however results in increasing the weight loss therapeutics market.
Currently available weight loss therapeutics works by appetite suppression, increasing body metabolism and interfering with the digestion and absorption patterns.
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Weight Loss Therapeutics Market: Drivers & Restraints
Increased westernization especially in the Asia pacific region is increasing the obesity problems and thus pulling the weight loss therapeutic market in the region. With the patent expiration of drugs such as Orlistat, many generic versions have come up in the market which further increases the market volume and size for therapeutic drugs. Increasing awareness of the problems associated with obesity results in driving the weight loss therapeutic market. Limited efficiency of the currently available drugs, high cost and the side effects associated restricts the market to grow.
Increasing trend of being slim & fit, rising concerns of overweight problems and associated disease risks are growing the weight loss therapeutics market. Increasing partnerships and collaboration activities between industries and academic institutes for various research associated with the weight loss therapeutics also adding fuel to the market expansion. Companies have various weight loss therapeutics in their pipeline at various clinical trial stages. This has also created a competitive market scenario. There is also an increasing trend for the herbal therapeutics these days which is further intensifying the market.
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A geographic condition regarding the Weight Loss Therapeutics Market, it has been segmented into five key regions: North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. North America holds the largest market share as more than one third of Americans are obese and thus there is a huge demand for weight loss therapeutics. Moreover, easy accessibility of the treatment facilities also plays a role in the market growth. Because of the increasing obesity problem in the Asia-Pacific region, there occurs a growing market in the Asia Pacific region for the weight loss therapeutics both from the demand side as well as supply side. Middle East and Africa also has a market demanding population for the weight loss therapeutics due to the high rate of obesity cases reported in the last 3 decades.
There is diverse market for the weight loss therapeutic products. Various companies are present in the market involved in manufacturing as well as research activities for the obesity treatment. Some of the key players are Sanofi-Aventis, Abbott Laboratories, Novo Nordisk A/S, Arena Pharmaceuticals GmbH, Orexigen Therapeutics, Inc., Johnson & Johnson Inc., Pfizer Inc., Novartis International AG, Biocon Ltd., VIVUS, Inc., Eli Lilly and Company, Amgen Inc. and many others.
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