The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Weight Loss Drugs Global Market Report 2024, the weight loss drugs market is expected to show promising growth in the forecast period.

The weight loss drugs market has experienced tremendous growth in recent years and shows no signs of slowing down. Here, we delve into the factors driving this expansion, major industry trends, and key players shaping the market’s future.

Exponential Market Growth

• 2023-2024 Growth:
  • Market size will grow from $1.94 billion in 2023 to $2.87 billion in 2024.
  • Compound annual growth rate (CAGR) of 47.8%.
  • Growth driven by increasing obesity rates, lifestyle changes, and rising healthcare expenditure.
• 2024-2028 Growth:
  • Expected to reach $12.17 billion by 2028.
  • CAGR of 43.5%.
  • Factors include the increasing geriatric population, social media influence, and pharmaceutical industry investments.

Key Drivers of Market Expansion

Rising Obesity Rates

• Obesity Statistics:
  • According to the CDC, adult obesity rates exceeded 35% in several states by 2022.
  • World Obesity Federation predicts over 4 billion people will be obese by 2035.
• Impact on Market:
  • Increasing obesity rates are driving demand for weight loss medications that reduce appetite, increase fullness, or interfere with nutrient absorption.

Lifestyle Changes and Awareness

• Lifestyle Factors:
  • Sedentary lifestyles and poor dietary habits contribute to higher obesity rates.
  • Increased awareness and early diagnosis of obesity-related conditions promote the use of weight loss drugs.
• Healthcare Expenditure:
  • Rising healthcare costs emphasize the need for effective weight management solutions.

View More On The Weight Loss Drugs Market Report 2024 – https://www.thebusinessresearchcompany.com/report/weight-loss-drugs-global-market-report

Trends Shaping the Future

Technological Advancements

• Innovation in Treatments:
  • Development of new weight loss drugs and therapies.
  • Focus on non-prescription solutions and personalized medicine.

Product Innovation

• Zepbound Approval:
  • Eli Lilly’s Zepbound, a dual GIP and GLP-1 receptor agonist, received FDA approval in November 2023.
  • First and only FDA-approved obesity treatment activating both receptors.

Strategic Acquisitions

• Roche and Carmot Therapeutics:
  • Roche acquired Carmot Therapeutics for $2.7 billion in December 2023.
  • Gained access to two promising obesity drug candidates.

Major Industry Players

• Key Companies:
  • Pfizer Inc.
  • Roche
  • Merck & Co.
  • AbbVie Inc.
  • Novartis AG
  • Bristol Myers Squibb
  • Sanofi S.A.
  • AstraZeneca PLC
  • LG Chem
  • GlaxoSmithKline
  • And more

Market Segmentation

• By Type:
  • Liquid, Tablets, Capsules
• By Distribution Channel:
  • Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
• By Application:
  • Weight-Reducing Aid, Fat Absorption Inhibitors, Metabolic Boosters

Regional Insights

• North America:
  • Largest region in the weight loss drugs market in 2023.
  • High obesity rates and advanced healthcare infrastructure contribute to market dominance.

Conclusion

The weight loss drugs market is poised for significant growth, driven by rising obesity rates, technological advancements, and strategic industry moves. As the market expands, continued innovation and strategic acquisitions will be crucial in meeting the growing demand for effective weight management solutions.

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