Press Release: April 16, 2020
XploreMR provides a critical assessment of the performance of emerging and mature markets in a new publication titled”Obesity Management Market: Phentermine and Topiramate Expected to be the Second Most Lucrative Segment by Drug Type: Global Industry Analysis and Opportunity Assessment 2017-2027”
Increasing life expectancy and worsening lifestyle to blame for obesity
Lifestyle diseases such as diabetes and other chronic ailments are the main cause of obesity around the world. Improved healthcare and medical facilities have led to an increase in the life expectancy of people, which is the primary reason for the large geriatric population seen in the developed world. Geriatric people are far more prone to conceal sarcopenia i.e. a noticeable rise in body fat with simultaneous loss of muscle mass and functional capability. This makes them the main segment of the global obesity management market in both the short and the long term.
Side effects and safety issues a big concern in the obesity management market
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Even though the number of obesity drug users are rising every day on account of their enormous benefits, a few studies have demonstrated adverse side effects when these drugs are taken in the long term. The same study also shows diabetes, high cholesterol, heart disease, high blood pressure, sleep apnea, asthma, cancer, depression and strokes to be linked to obesity drugs. These somewhat conflicting findings on the obesity management market have left both medical professionals and patients confused about the purported benefits and they have become quite wary of the potential side effects. These legitimate safety concerns could easily impede the growth of the global obesity management market.
The obesity management market should grow as obesity is too big a condition to ignore
The prevalence of obesity has nearly doubled in the years since 1980. In 2014, more than half a billion people were obese and almost 2 billion adults were overweight i.e. 13% of the global population is obese and 39% are overweight. Nearly 3 million people die every year as a result of being overweight or obese. Obesity accounts for approximately half of Type 2 diabetes cases across the globe. Obesity is the fifth leading factor responsible for death and this affects not only developed nations, but also developing countries. In the U.S, the obese population was roughly 40% and the overweight population was nearly 70% of the entire population in 2014. All these factors should spur the growth of the global obesity management market during the course of the forecast period.
Bupropion and Naltrexone drug type segment anticipated to witness the highest CAGR
While Orlistat dominates the global obesity management market by drug type at present with an estimated market value of more than US$ 200 Mn in 2017, it is poised to record the lowest CAGR of only 1.5% during the decade 2017-2027. On the other hand, Bupropion and Naltrexone is predicted to grow at a massive 8.3% CAGR for the decade, pushing it to a market value of nearly US$ 109 Mn by 2027, as opposed to just under US$ 46 Mn in 2016. An absolute dollar opportunity of roughly US$ 3.6 Mn can be reasonably expected in the Bupropion and Naltrexone segment of the global obesity management market in 2018 over the previous year.
North America alone is expected to account for 1/3rd of the global obesity management market
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North America is forecast to account for more than 1/3rd revenue share of the global obesity management market by 2017 and it should gain a substantial 224 BPS by the year 2027. The Bupropion and Naltrexone drug segment in the North America obesity management market is estimated to be worth around US$ 13.6 Mn in 2017 and this is assumed to rise to slightly under US$ 32 Mn by 2027, as a result of a high CAGR of 8.9%. As with the global obesity management market, the CAGR in the North America obesity management market is highest in the Bupropion and Naltrexone segment, making it highly attractive to key stakeholders.