Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSIntroduction to Anti-Obesity Drugs
Obesity is a condition which is caused by the presence of excessive fat in the body. This eventually leads to the development of various health disorders such as diabetes, cardiovascular disease and other physical disabilities. Anti-obesity drugs are medications aimed at reducing and controlling the body weight. They act by either changing the patient’s appetite or by lowering the calories absorption. These drugs can be sold as over-the-counter drugs as well as prescription drugs.
Market Size and Forecast
According to the World Health Organization, over 1.9 billion adults (aged 18 and above) were found to be overweight in 2016. Out of these, more than 650 million people were obese, which was about 13% of adults globally. Further, more than 340 million children and adolescents between the ages 5 to 19 and about 41 million children under the age of 5 were found to be overweight or obese in the same year. The anti-obesity drugs market is anticipated to record a CAGR of around 21% over the forecast period, i.e., 2019-2027. The market is segmented by mechanism of action, by distribution channel and by region, out of which, the mechanism of action segment is further bifurcated into peripherally acting anti-obesity drugs and centrally acting anti-obesity drugs. Peripherally acting anti-obesity drugs are those whose mechanism of action excludes the central nervous system (CNS). These are beneficial as they do not act on the CNS and hence produce no side-effects on the brain. On the other hand, the centrally acting anti-obesity drugs act on the central nervous system and work by stimulating the brain and spinal cord. CLICK TO DOWNLOAD SAMPLE
Growth Drivers
Rising Awareness among People about Obesity to Drive the Market Growth
As per the statistics by Centers for Disease Control and Prevention, around 66.7% of obese adults over the age of 20 tried to lose weight between 2013 and 2016. A large majority of the population is becoming health conscious and adopting healthier lifestyles. Further, the various health disorders linked with excessive body fat such as cancer, diabetes, cardiovascular disease and others anticipated to increase the demand for these drugs. The growing awareness among people about the health concerns related with obesity are estimated to substantially raise the growth of anti-obesity drugs market.
Adoption of Healthy Food Habits to Support the Growth of Anti-Obesity Drugs Market
The rising consumption of packed and unhealthy food results in the accumulation of fat and cholesterol in the body. Moreover, lack of any physical activity further worsens the health and leads to obesity. The various measures taken by people to reverse these habits and eliminate them is estimated to be a major driving factor for the market growth.
Restraints
Side-Effects of Anti-Obesity Drugs to Hamper the Market Growth
Anti-obesity drugs might cause side-effects including stroke, mental illness and other undesired health conditions. As a result of this, several previously approved drugs have been withdrawn and replaced with much safer drugs. This is estimated to limit the market growth in the upcoming years.
Market Segmentation
Our in-depth analysis of the anti-obesity drugs market includes the following segments:
By Mechanism of Action
By Distribution Channel
By Region
On the basis of regional analysis, the anti-obesity drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Obesity is a highly prevalent condition in the United States. On the back of this, the anti-obesity drugs market in North America is anticipated to hold the largest share in the market over the forecast period. Moreover, with high healthcare expenditure in the region and growing approval of anti-obesity drugs by the U.S. Food and Drug Administration (FDA), the market is predicted to flourish in North America. The market in Europe is estimated to hold the second largest share as a result of growing prevalence of obesity on account of unhealthy lifestyle and bad food habits. On the other hand, the market in the Asia Pacific region is predicted to be highly lucrative and grow at the highest rate during the forecast period on account of growing incidences of diabetes and other such disorders which are associated with obesity.
The anti-obesity drugs market is further classified on the basis of region as follows:
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