Obesity is defined by excessivebody fat and higher body mass index. The average BMI index for obesity is above30 (obese). Obesity is one of the most prevalent disease conditions across theworld, and it is prevalent in developed, emerging, and undeveloped regions.Surgeries that aid in the treatment of obesity include, gastric bypass,adjustable gastric banding, gastric sleeve, duodenal switch, and intragastricballoon treatment.
Statistics:
The global obesitymanagement drugs market is estimated to account for US$ 764.7 Mn in termsof value in 2020 and is expected to reach US$ 1,078.9 Mn by the end of 2027.
Global Obesity Management Market:Drivers
R&D of new products isexpected to propel growth of the global obesity management market over theforecast period. For instance, in May 2019, VIVUS, Inc., a biopharmaceuticalcompany, announced the commencement of phase IV safety and efficacy Qsymia forweight management in obese patients.
Global Obesity Management Market:Opportunities
Adoption of novel technologies intreatment of obesity is expected to offer lucrative growth opportunities forplayers in the global obesity management market. For instance, in August 2020,researchers from Harvard University reported use of CRISPR-Cas9 gene-editingtechnology to engineer human white fat so that it displays the properties ofbrown fat.
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Global Obesity Management Market:Restraints
Side effects and safetycontroversies is expected to hinder growth of the global obesity managementmarket. Though the number of obesity drug users are rapidly increasing due totheir many benefits, studies show that there are certain side effects andadverse health effects of obesity drugs over long term that include, highcholesterol, diabetes, high blood pressure, heart diseases, strokes, sleepapnea, depression, asthma, and cancer.
Key Takeaways:
The global obesity managementdrugs market was valued at US$ 729.9 Mn in 2019 and is forecast to reach avalue of US$ 1,078.9 Mn by 2027 at a CAGR of 5.0% between 2020 and 2027. Majorfactor driving the growth of global obesity management drugs market during theforecast period include increasing prevalence of obesity, and number ofproducts available.
Orlistat held dominant positionin the global obesity management drugs market in 2019, accounting for 31.9%share in terms of value, followed by Liraglutide and Lorcaserin, respectively.
Market Trends
Major players in the globalobesity management market are focused on adopting collaboration and partnershipstrategies to expand their product portfolio. For instance, on June 2019,NovoFit, a global distributor for fitness equipment, entered a strategicpartnership with Amer Sports’ leading fitness brand, Precor for productdistributorship in Australia. The partnership is projected to increase marketpositioning of NovaFit and Amer Sports in Australia.
Possible link of obesity withcancer is expected to propel growth of the global obesity management market.For instance, in September 2020, a research at Washington University School ofMedicine in the U.S. reported that for every 5kg of weight gained the risk ofthe cancer increases by 5%.
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Regulations
U.S
The 505(b)(2) regulation offers aless expensive and faster new drug development pathway. 505 (b)(2) was added toFD&C act by Drug Price Competition and Patent Term Restoration Act of 1984(Hatch-Waxman act).
When the generic company filesANDA with Paragraph IV certification, the first applicant to submitsubstantially completed ANDA is given 180 days market exclusivity under para IVof Hatch-Waxman act
In October 1999, U. S. Departmentof Health and Human Services Food and Drug Administration published a draftguidance for applications covered by section 505 (b)(2)
Global Obesity Management Market:Competitive Landscape
Major players operating in theglobal obesity management market include, F Hoffmann La Roche Ltd.,GlaxoSmithKline plc., Orexigen Therapeutics, Inc., Arena Pharmaceuticals, Inc.,VIVUS, Inc., Novo Nordisk A/S, and Eisai Co., Ltd.
Global Obesity Management Market:Key Developments
Major players in the globalobesity management market are focused on adopting collaboration and partnershipstrategies to expand their product portfolio. For instance, in July 2018, EisaiCo., Ltd. entered an agreement to grant exclusive development and marketingrights to CY Biotech for its anti-obesity agent lorcaserin hydrochloride(lorcaserin) in China.
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