Binge (Eating) Disorders Market: Introduction
· Binge eating disorder is a mental illness. People with binge eating disorder eat more amount of food in a short period of time. This leads to obesity or weight gain in people.
· Untreated binge eating disorder leads to mental and physical health problems such as diabetes, cardiovascular diseases, depression, anxiety, and arthritis, among others
· Binge eating disorder can be treated with medication and counselling
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Key Drivers and Opportunities of Global Binge (Eating) Disorders Market
· Rise in prevalence of eating disorder is anticipated to drive the binge (eating) disorders market. For instance, according to The National Institute of Mental Health (NIMH), the prevalence of binge eating disorder is high in female than males.
· The Global Burden of Disease Study 2017 stated that Australia had the highest prevalence of eating disorders across the globe
· A study published in NCBI relates sleep deprivation to increasing eating habits, which comprises binge eating and emotional eating
· Eating disorder is a major threat. Governments of various countries have thus taken several initiatives to address this issue. For instance, in December 2018, Minister for Health, Australia, announced the Medicare Benefits Scheme. It is an amendment to improve affordability and access of eating disorder in Australia.
· Increase in research and development activities to develop new products is likely to fuel market growth. For instance, OX1 Antagonist, a product for binge eating disorder, is in the preclinical trail phase. It is a product offered by Chronos Therapeutics.
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· Dasotraline offered by Sunovion Pharmaceuticals Inc. for the treatment of binge eating disorder in adults is registered in the United States
· Emerging markets, such as Latin America, Middle East & Africa, and Asia Pacific, present significant opportunities, owing to the increase in prevalence of eating disorders. For instance, according to the National Eating Disorder Collaboration, over 16% of the population of Australia was affected by eating disorder.
North America to Hold a Major Share of Global Binge (Eating) Disorders Market
· North America is expected to hold a major share of the global binge (eating) disorder market due to increase in prevalence rate of eating disorders. For instance, according to the National Institute for Eating Disorder, in 2016, approximately 1 million people in Canada met the diagnostic criteria for eating disorder. According to the National Comorbidity Survey Replication, in the United States, binge eating disorder is most common in adults and affects approximately 2.8 million U.S. adults.
· This market in Asia Pacific is anticipated to expand at rapid pace during the forecast period, owing to increase in awareness. For instance, TELL Japan offers counselling services through the TELL Eating Disorders Treatment Program. The aim of this program is to increase awareness in Japan about eating disorders.
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Key Players Operating in Global Binge (Eating) Disorders Market
The global binge (eating) disorders market is highly concentrated due to the presence of key players.
A large number of players hold a major share in their respective region. Strategic development by key players is anticipated to drive the growth of the market. For instance, in July 2019, Sunovion Pharmaceuticals Inc. announced that the new drug application (NDA) for dasotraline was accepted by the U.S. Food and Drug Administration. Dasotraline is used to treat severe and moderate binge eating disorders. In March 2019, BlueMountain Capital Management announced the launch of Promises Behavioral Health, which will operate programs and 12 facilities in seven states providing option for the treatment of trauma, eating disorder, substance abuse, sex addition, and other mental health disorders. In July 2017, the company acquired Tapestry Eating Disorder Services. In October 2016, the U.S. Food and Drug Administration approved the New Drug Application to update the U.S. labelling of Vyvanse.
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Leading players operating in the global binge (eating) disorders market are:
· Chronos Therapeutics
· Shire US Inc.
· Eli Lilly and Company
· Sunovion Pharmaceuticals Inc
· Promises Behavioral Health
· Pyramid Healthcare (Tapestry Eating Disorder Services)
· Timberline Knolls
· Rosewood Centers for Eating Disorders
· Walden Behavioral Care
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