Obesity Therapy Market to Reach $8.4 Billion by 2022
![](/46/pdcnewsitem/03/28/06/ALCo2a1s7vbYTaT.jpg)
As a result of the launches of several novel drugs during the next decade, the obesity market will increase from $407 million in 2012 to $8.4 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 35.3%, forecasts research and consulting firm GlobalData.
The company’s latest report* states that the US, Canada and Japan will have the largest obesity therapy sales by 2022, with shares of $5.3 billion, $702 million and $484 million, respectively.
Rebecca Wong, MSc, GlobalData’s Analyst covering Cardiovascular and Metabolic Disorders, says: “The obesity space has seen little activity in the past decade as a result of a pharmacological history of modest efficacy, poor tolerability with dangerous side-effects, and limited healthcare coverage, which have all contributed to the commercial failure of anti-obesity drugs.
“Recently, however, there has been a revival of this market space, as a couple of companies have released drugs that challenge these limitations.”
According to GlobalData, the two drugs that will have the greatest impact on the size of the market are Victoza and Belviq.
Victoza’s advantage, in addition to its efficacy, is that it is marketed for the treatment of type 2 diabetes by Novo Nordisk. Meanwhile, Belviq’s advantage lies in its novelty; unlike Vivus’ Qsymia and the two drugs currently being developed by Orexigen, it is a novel molecular entity, rather than a combination of existing therapeutic options.
“With the changing tide of opinion on the treatment of obesity and the upcoming launches of new drugs and devices, we anticipate that the prescribing of obesity therapies will increase during the next 10 years, boosting the market size,” Wong says.
Still, there is a lack of reimbursement for obesity drugs both in the US and public health systems throughout the rest of the world, which could hinder any further market growth.
*PharmaPoint: Obesity — Global Drug Forecast and Market Analysis to 2022
Related News
-
News Ophthalmologic drug product Eylea faces biosimilar threats after FDA approvals
Regeneron Pharmaceutical’s blockbuster ophthalmology drug Eylea is facing biosimilar competition as the US FDA approves Biocon’s Yesafili and Samsung Bioepis/Biogen’s Opuviz. -
News ONO Pharmaceutical expands oncology portfolio with acquisition of Deciphera
ONO Pharmaceutical, out of Japan, is in the process of acquiring cancer-therapy maker Deciphera Pharmaceuticals for US$2.4 billion. -
News First offers for pharma from Medicare drug price negotiations
Ten high-cost drugs from various pharma manufacturers are in pricing negotiations in a first-ever for the US Medicare program. President Biden’s administration stated they have responded to the first round of offers. -
News Eli Lilly’s Zepbound makes leaps and bounds in weight-loss drug market
In the last week, Eli Lilly has announced their partnership with Amazon.com’s pharmacy unit to deliver prescriptions of Zepbound. Zepbound has also surpassed Novo Nordisk’s Wegovy for the number of prescriptions for the week of March 8.&nbs... -
News Chasing new frontiers at LEAP – The National Biotechnology Strategy Keynote
On the third day of LEAP (4–7 March 2024, Riyadh Exhibition and Convention Centre, Malham, Saudi Arabia) the CPHI Middle East team hosted the Future Pharma Forum, to set the scene for an exciting new event for the pharma community, coming to Riya... -
News Pfizer maps out plans for developing new oncology therapeutics by 2030
Pfizer dilvulges plans to investors around growing their cancer portfolio, and the drugs they will be focusing on developing after their aquisition of Seagen in 2023. -
News Generics threat to Merck’s Bridion as Hikma seeks pre-patent expiry approval
Merck has disclosed they received notice from Hikma Pharmaceuticals for seeking a pre-patent expiry US FDA approval for Hikma’s generic version of Merck’s Bridion. -
News Bernie Sanders vs Big Pharma - the latest on drug price negotiations
In a hearing in front of the US Senate, three of the biggest pharmaceutical companies in America are challenged over exorbitant prescription drug prices, with Sanders claiming their actions are limiting the population's access to affordable healthc...
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance