Obesity management is an evolving industry, which has been witnessing an upsurge in demand, due to the increasing medical tourism in countries such as Thailand, India, Singapore, and Malaysia. Medical tourism is a growing sector for many middle-income countries as packages for countries such as India and Thailand cost low and constitute insurance coverage. The US and the UK have been the largest source countries for medical tourism to India for weight loss and obesity management.
According to research analysis, India was one of the most affordable medical tourism destinations as the country offers a wide variety of medical procedures at a low cost. Rising medical tourism for weight loss and obesity management in such countries provide immense opportunities for the weight loss and obesity management market players to launch products and increase geographical presence in emerging markets which would further contribute in driving the growth of the global weight loss and obesity management market.
New Product Launches for Weight Loss and Obesity Management Continue to Extend the Drug Pipeline
Various big pharmaceutical companies are developing novel anti-obesity drugs for weight loss and obesity management. Companies such as Sanofi, Novo Nordisk, AstraZeneca, Boehringer Ingelheim and others are expected to launch new drugs in the weight loss and obesity management market by 2026.
The current weight loss and obesity management market is rather sparse, comprising only few FDA approved drugs in the US and other markets. More recently, the FDA has approved four new drugs since 2012. Obesity is now the most investigated indication by the number of clinical trials. The obesity drugs pipeline consists of 94 trials across all stages of clinical development.
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Emergence of New Technologies and Therapies Assisting Market Growth
A number of electrical stimulation systems are being used for bariatric surgeries, which help in controlling hunger by electrically stimulating the nerves that control our hunger signals. One such recently approved system by the FDA is vBloc, which stimulates the vagus nerve to control hunger so that person feels full for some time. These devices can also be used to treat other diseases along with weight loss and obesity management.
Obesity has become a major concern worldwide as diet and exercise are inadequate for weight loss and obesity management. Sometimes targeted treatments must be combined with additional pharmacologic therapy drugs such as Contrave (naltrexone and bupropion), Empatic (bupropion and zonisamide) and Qsymia (phentermine and topiramate). Regulatory agencies worldwide have shown significant interest in combination treatments through recent approvals of multiple combinations. These approvals pave way for combination approaches of obesity treatment, which are expected to revolutionize the weight loss and obesity management market globally.
Side Effects of Drugs and Other Risks Associated with Weight Loss Surgeries to Prevail
It has been proven that bariatric surgery is more effective in terms of cost and treatment than other pharmaceutical interventions for weight loss and obesity management. However, this proven effectiveness is typically associated with certain risks that cannot be understated. Some of the major risks associated are excessive bleeding, infections, blood clots, low blood sugar, and malnutrition.
For instance, the contrave drug can cause serious side effects and eruption of suicidal thoughts in patients. Though the number of weight loss and obesity drug users is rapidly increasing, studies show that there are certain side effects and adverse health effects of these drugs over the long term. The side effects of drugs and risks associated with surgeries may hamper the growth of the weight loss and obesity management market during the forecast period.
Government Initiatives May Support Efforts to Tackle Obesity
A government serves numerous vital functions in a national public health crisis, including the childhood obesity epidemic. It provides leadership by responding to prevalent obesity as an urgent public health priority and coordinating the public and private sector response.
Some of the programmes initiated for weight loss and obesity management are Just Say Yes to Fruits and Vegetables Project (JSY), Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), Eat Well Play Hard in Child Care Settings (EWPHCCS), Breastfeeding Friendly Child Care, Breastfeeding Friendly Practices Designation, Alaska Obesity Prevention & Control Program and others.
Despite government policy responses and greater individual responsibility, global obesity levels look set to keep rising. Government regulations and taxes might increase awareness of weight loss and obesity management and put pressure on food and beverage companies to reduce the calorific value of their products.
Competitive Landscape Analysis
The competition section of the weight loss and obesity management market report features profiles of key players operating in the weight loss and obesity management market based on their weight loss and obesity management market share, product offerings, and differential product marketing strategies.
A few key players featured in the weight loss and obesity management market report include Novo Nordisk A/S, GlaxoSmithKline plc., F. Hoffmann-La Roche AG, Allergan Plc, Johnson & Johnson Services, Inc, Medtronic plc., Vivus Inc., Eisai Co., Ltd., ReShape Lifesciences, Inc, Obalon Therapeutics, Aspire Bariatrics, Allurion Technologies Inc., Nalpropion Pharmaceuticals, Inc., and Beijing Noble Laser Technology Co., Ltd.
Definition
The weight loss and obesity management market covers devices and drugs used for managing or reducing weight in obese and overweight patients. Rising global burden of obesity and overweight is driving the need for preventive care. The global weight loss and obesity management market is analyzed by two segments namely product type and distribution sales.
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About the Report
The report on the weight loss and obesity management market offers a comprehensive evaluation of the business opportunities in the weight loss and obesity management market along with insights on the weight loss and obesity management regulatory scenario for medical devices and drugs, pipeline assessment of drugs for weight loss and obesity management, potential of anti-obesity drugs in the market, pricing analysis, entry strategies, white space analysis, and list of key manufacturers in the weight loss and obesity management market for the duration from 2018 to 2026.
Segmentation
The report offers a comprehensive taxonomy of the weight loss and obesity management market on the basis of product type, distribution sales, and region. On the basis of product type, the global weight loss and obesity management market has been segmented into drugs and devices. On the basis of distribution sales, the global weight loss and obesity management market has been segmented into institutional sales and retail sales. From a geographical perspective, the weight loss and obesity management market has been segmented into North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa (MEA), and emerging countries like China, Brazil, and India.
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