A new report called the Booming Global Obesity Drug Market reveals that this health condition is growing at alarming rates around the world. Obesity can lead to a number of serious conditions and diseases such as cardiovascular disease, high blood pressure, high cholesterol, and arthritis. It is also linked to several forms of cancer.
The report estimates that by 2012 over two billion people will be overweight, with 600 million being classified as obese. For most people with obesity, simple dieting and exercise are not effective. This is spurring the rapid sales growth for obesity drugs.
These products have enjoyed greater sales success than weight loss drugs, which often fail to live up to claims, present serious side effects and fail to get government approval. Also, many weight loss drugs can be expensive and healthcare companies refuse to pick up the tab.
In contrast, several obesity drugs have been approved, both in prescription and non-prescription (Alli) form. The government stamp is often considered a seal of approval by consumers, making them more willing to try obesity drugs. Regardless of past failures of some drugs that fight obesity, many are currently in phase-III and late phase-II trials.
Considering how quickly the obesity epidemic is spreading around the world, manufacturers and sellers of obesity and weight loss drugs stand to make billions. The largest markets are expected to be the United States (where approximately 68 per cent of people are overweight or obese), the United Kingdom, and other European countries.
However, due to the expansion of American eating habits around the world (a high-fat, fast-food diet), people in the fastest developing economies will not be immune. Known collectively as BRIC, Brazil, Russia, India and China will become huge markets for weight-loss products in the near future. India and China each have populations of more than one billion people. In China, obesity and overweight numbers are around 670 million people — that’s more than twice the total population of the US.
The Booming Global Obesity Drug Market report provides an extensive and objective critique of the obesity drug industry. It takes a look at trends, current and past performance of the market and provides information on common obesity drugs. It’s a critical tool for manufacturers or investors who focus on this market.
Obesity Drugs Market Facts
• By 2010 it’s predicted that 40 per cent of the US population will be obese.
• Approximately 17 per cent of people (or 85 million) in Europe are obese. Thirty-two per cent (or 160 million) are overweight.
• Sales of obesity drugs in the United States more than tripled in 2007, reaching $421 million after Alli was launched on the market. Alli accounts for 71 per cent of total sales.
• Obesity drug sales in the US and Europe will expand by about 23 per cent between 2008 and 2012 to about $3.1 billion.
• Many new drugs currently in development will fuel this market growth, such as new drug classes known as CB1 antagonists and serotonin receptor agonists.
Source: Obesity Drug Markets in the US and EU, July 2008